Traders have pulled more than $2 billion from Hyperliquid since September. Credit: RDNE Stock project via Pexels. Key Takeaways In the thirteen weeks to Dec. 15, traders pulled over$2 billion from Hyperliquid. The once-dominant perpetual futures exchange faces rising competition. As outflows pile up, the value of HYPE has plummeted. Earlier this year, Hyperliquid’s runaway success seemed unstoppable, and its native token, HYPE, climbed nearly continuously for the first nine months of 2025. Howe ...