Hyperliquid’s On-Chain Revolution: $1.43 Trillion in Trading Data Now Live on Dune

As an exchange built to execute trades entirely on-chain, Hyperliquid integrates features such as lightning-fast order execution, deep liquidity, and a non-custodial trading environment, ensuring that no intermediary stands between traders and their positions.

The platform supports perpetual markets based on foreign exchange (FX), equities, commodities, and indices. Through HIP-3, developers can launch perpetual markets tied to real-world assets (RWAs). Hyperliquid also supports HIP-4, enabling fully on-chain prediction markets where traders can speculate on the outcomes of real-world events.

Hyperliquid's On-Chain Revolution: $1.43 Trillion in Trading Data Now Live on Dune
Hyperliquid’s On-Chain Revolution: $1.43 Trillion in Trading Data Now Live on Dune. Source; Google Images

Hyperliquid Trading Activity Now Available on Dune

Hyperliquid (HyperCore) has recorded an impressive $1.43 trillion in trading volume so far this year, spanning more than 785.6 million trades. This extensive on-chain activity is now available through a professional-grade analytics dashboard on Dune, providing users with deeper insights into market performance and trading behaviour.

Institutional-Grade Insights for Every Trading Team

The newly available dataset enables quantitative and systematic trading firms to analyse order flow, trade executions, funding rates, liquidations, and prediction market activity to develop sophisticated cross-market trading and risk management strategies. At the same time, research and strategy teams can monitor HIP-3 real-world asset (RWA) positions, open interest, funding trends, and trading volumes, providing a real-time view of trader sentiment across perpetual markets linked to equities, commodities, indices, and other tokenised real-world assets.

Dune’s HyperCore Analytics Capabilities

The dataset delivers comprehensive insights into every major aspect of the Hyperliquid ecosystem. It covers both perpetual and spot markets, including order placements, trade executions, order cancellations, TWAP orders, leverage usage, margin positions, funding rates, and newly launched markets.

Hyperliquid's On-Chain Revolution: $1.43 Trillion in Trading Data Now Live on Dune
Hyperliquid’s On-Chain Revolution: $1.43 Trillion in Trading Data Now Live on Dune. Source: Google Images

Users can also monitor live Level 2 (L2) order book updates alongside one-minute market depth snapshots for a clearer understanding of market liquidity. Every trade execution is recorded with detailed information, including price, trade size, order side, fees, and realised profit and loss (PnL).

In addition to trading, the dataset also keeps track of account and network activities like moving assets, taking money out, actions in sub-accounts, transactions in vaults, approving tokens, referrals, changes in balances, liquidations, staking, and delegating to validators. It also includes HIP-4 prediction market data, covering market definitions, outcomes, and governance voting records.

When users put this data together with the current HyperEVM dataset on Dune, they can follow all activities in the Hyperliquid ecosystem—from how smart contracts work on HyperEVM to the order book where trades are completed. This end-to-end visibility provides traders, analysts, and institutions with a comprehensive view of on-chain market activity.

Crypto Liquidations Explained: Why Price Can Move So Fast

Crypto markets can move violently because many traders use leverage. A liquidation happens when an exchange forcibly closes a leveraged position because the trader no longer has enough margin to keep it open.

For example, if a trader opens a long position with high leverage and price falls too far, the exchange may close that position automatically. That forced selling can push price lower, which may liquidate more longs. This chain reaction is called a long squeeze.

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The same can happen in reverse. If many traders are short and price rises sharply, exchanges force those shorts to close. Closing a short means buying back the asset, which can push price even higher. That is a short squeeze.

Liquidations matter because they can turn normal breakouts or breakdowns into fast moves. Price does not always move because long-term investors changed their minds. Sometimes it moves because leveraged traders are being forced out at the same time.

Traders watch liquidation levels to understand where the market may accelerate. If many long liquidations sit below a support level, a break of that support can create a quick drop. If many short liquidations sit above resistance, a breakout can squeeze higher.

However, liquidation maps are estimates, not guarantees. Public tools can be useful, but they are not perfect. The market can approach a liquidation zone and reverse before triggering it. It can also trigger liquidations and then snap back quickly.

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The practical lesson is risk control. If you trade near obvious liquidation zones, expect volatility. Avoid oversized positions. Use stops based on invalidation, not emotion. Never assume a level will hold just because it looks important.

For signal followers, liquidation events can explain why a trade hits a target quickly or why a stop needs to be respected. Fast moves are not always rational; they can be mechanical.

Key takeaway:

Liquidations are forced exits from leveraged positions. They can create chain reactions, speed up price movement, and punish traders who use too much leverage.

Educational content only. Not financial advice. DYOR.

One Avalanche Metric Is Climbing at a Remarkable Pace

Key Takeaways:

  • Developer growth: C-Chain contracts nearly doubled in a year.
  • Adoption rises: Transactions and users keep growing despite weak price action.
  • Long-term signal: Strong on-chain activity points to continued ecosystem strength.

 

Price charts and adoption charts don’t always move together, and right now Avalanche is a clear case of that split. AVAX is down for the week even as one of its core infrastructure metrics keeps climbing at a pace that’s hard to ignore.

MSB Intel reported on July 24, 2026 that Avalanche C-Chain contracts have nearly doubled over the past year, rising from 36.8 million to 70.35 million — more than 33.5 million new contracts deployed in twelve months. AVAX trades at $6.24, down 5.0% over the past seven days.

One Avalanche Metric Is Climbing at a Remarkable Pace
Image Via X.

Contract Growth Fits a Broader Activity Surge

This isn’t an isolated data point. Avalanche’s C-Chain has processed roughly 393.7 million transactions so far in 2026, nearly seven times the volume from the same period last year — one of the more consistent on-chain activity stories in an otherwise weak crypto market. That transaction growth has been paired with rapid user onboarding: the network added 707,000 new C-Chain addresses in the second quarter of 2026 alone, six times the pace set in the first quarter, alongside DeFi TVL reaching $2.1 billion and active subnets surging 158% year-over-year.

Much of the momentum traces back to a deliberate push from the network’s foundation. The Avalanche Foundation’s $40 million Retro9000 initiative began its C-Chain funding round in March 2026, shifting from wallet-based community voting toward rewarding developers based on verifiable on-chain usage — an incentive structure explicitly designed to drive the kind of contract deployment growth now showing up in the data.

AVAX’s Rough Week

Looking at the seven-day chart, AVAX spent July 19 through July 23 oscillating between roughly $6.40 and $6.70, holding a relatively stable range. That stability broke on July 24, when price fell sharply from around $6.50 down to a low near $6.19, before a modest recovery brought it back to $6.24 as of July 25. The drop landed on the same day the contract-growth data was published, underscoring how disconnected on-chain fundamentals and short-term price action can become during broader market weakness.

One Avalanche Metric Is Climbing at a Remarkable Pace
AVAXUSD Weekly Chart. Source: CoinGecko.

Why Contract Counts Are Worth Watching

Rising contract deployment isn’t a guarantee of future price performance, but it is one of the more direct signals of developer conviction — builders don’t deploy tens of millions of new contracts on a network they expect to lose relevance. With a major ecosystem event scheduled for September and institutional products continuing to expand around AVAX, the question isn’t whether Avalanche’s developer activity is real. It’s whether the market gets around to pricing it in before the next catalyst does it for them.

Chainlink ETFs Are Moving Again After Weeks of Inactivity

Key Takeaways:

 

  • Chainlink ETFs ended a two-week inflow drought with fresh demand.
  • Whale accumulation and CCIP adoption continue to support LINK.
  • Price remains volatile despite renewed institutional interest.

 

Spot ETFs don’t move markets the way whale wallets do, but their flows are one of the cleanest signals of steady institutional interest — precisely because they only move when real capital decides to show up. LINK’s ETF complex just broke a stretch of silence, and the timing is worth a closer look.

Spot Chainlink ETFs posted $2.68 million in inflows, ending a two-week period of no flow and lifting holdings to 1.78% of LINK supply. LINK trades at $8.32, up 1.2% over the past seven days, according to CoinGecko.

Chainlink ETFs Are Moving Again After Weeks of Inactivity
Image Via X.

A Flow History With More Texture Than It Looks

The $2.68 million inflow landed on July 22, lifting cumulative net inflows to $127.83 million, according to SoSoValue data. That figure builds on a run that’s been anything but a straight line. LINK’s ETF complex had strung together 203 consecutive days without a net outflow before that streak broke in June, when the complex posted its first negative day, a roughly $490,920 outflow that pulled cumulative inflows down from about $123.82 million to $123.33 million. Since then, flows have alternated between small inflows and quiet stretches — including a standout $915,200 weekly inflow during the week of July 2 — before this latest two-week pause ended on July 22.

What’s Been Building Alongside the Flows

The inflow arrived alongside continued institutional integration work, with Mantle migrating its $2.5 billion Super Portal to Chainlink’s CCIP and Aave selecting Chainlink infrastructure for automated vault rebalancing. The number of Ethereum wallets holding LINK has also passed 900,000, pointing to broadening on-chain adoption running in parallel with the ETF activity. Santiment data has also flagged whale accumulation of roughly 14 million LINK, adding another layer of demand alongside the regulated fund flows.

The Chart Tells a More Volatile Story Than the Flows Do

Looking at the seven-day chart, LINK climbed steadily from around $8.20 on July 18 to a peak near $8.72 on July 21, riding the momentum that preceded this ETF activity. From there, price reversed hard, sliding through July 22 and 23 before a sharp drop into July 24 pulled LINK back down to $8.32 — essentially erasing most of the week’s gains in a single session. That drop happened on the same day the ETF inflow was reported, a reminder that even positive institutional flow data doesn’t always translate into immediate price support.

Chainlink ETFs Are Moving Again After Weeks of Inactivity
LINKUSD Chart. Source: CoinGecko.

Why the Signal Still Matters

A single $2.68 million inflow isn’t large enough to reverse a trend on its own. But ending a two-week dry spell, combined with continued CCIP adoption and whale accumulation running in the background, suggests institutional interest in LINK hasn’t disappeared even as short-term price action has turned choppy. Whether that steady undercurrent eventually shows up in the chart the way it did in early July, or gets overwhelmed by broader market pressure, is the question this data leaves open for now.

Circle Keeps Printing USDC on Solana, and the Market Is Watching

Key Takeaways: 

  • Circle minted another 250M USDC on Solana, extending a rapid issuance trend.
  • Repeated mints signal rising demand for Solana-based liquidity.
  • Markets are watching if the added liquidity fuels the next move.

 

Stablecoin mints don’t always make headlines on their own. But when the same issuer mints the same amount on the same network four times in two days, the pattern itself becomes the story.

It was reported on July 24, 2026 that Circle minted another 250 million USDC on Solana, the fourth such mint in two days, bringing total USDC issuance on the network in 2026 to $72.01 billion. SOL currently trades at $73.92, up 11.2% over the past 30 days, according to CoinGecko.

Circle Keeps Printing USDC on Solana, and the Market Is Watching
Image Via X/CoinDesk

A Mint That Fits a Much Bigger Pattern

This latest issuance doesn’t stand alone. Circle’s Solana minting has escalated steadily throughout 2026, climbing from roughly $64.78 billion in cumulative issuance in early July to $66.76 billion by mid-month, and now past $72 billion just weeks later. 

Along the way, the pace has included standalone mints as large as $1 billion and $3.25 billion, alongside stretches where Circle issued 3.5 billion USDC within a single week. Four 250-million-token mints inside 48 hours fits squarely inside that acceleration rather than representing an outlier event.

What the Chart Shows Around the Mint

Looking at the 30-day chart, SOL climbed from a low near $65 in late June to a peak above $81 by July 4, before cooling into a choppier range through the rest of the month. Price dipped toward $74 by July 10, recovered to retest $78 around July 21, and has since eased back to $73.92 as of July 24 — still up double digits for the month despite the recent pullback. The latest USDC mint lands right in that consolidation window, adding fresh dollar liquidity to a network whose price has been digesting its earlier gains.

Circle Keeps Printing USDC on Solana, and the Market Is Watching
SOLUSD Monthly Chart. Source: CoinGecko.

Why Stablecoin Issuance Is a Signal Worth Reading

New USDC supply doesn’t move Solana’s price directly — it’s fully collateralized, so minting reflects demand rather than dilution or inflation. What it does signal is where market makers, exchanges, and DeFi protocols expect to need dollar liquidity next. 

Solana has increasingly positioned itself as a hub for high-velocity trading in perpetuals, memecoins, and tokenized real-world assets, and repeated large-scale USDC issuance tends to track that activity rather than lead it.

Whether this latest wave of minting reflects traders preparing for renewed volatility or simply keeping pace with Solana’s growing settlement volume is the open question. Either way, when a stablecoin issuer keeps returning to the same network four times in two days, it’s rarely a coincidence — and it’s usually worth watching what happens next.

VanEck Sees a Bitcoin Supply Trend That Could Change Everything

Key Takeaways:

  • VanEck says Bitcoin’s long-term holder supply keeps reaching new highs.
  • Tightening supply contrasts with weak short-term market sentiment.
  • The setup could support stronger Bitcoin gains over time.

 

Quiet price action can look like nothing is happening. VanEck’s latest read on Bitcoin’s on-chain data suggests otherwise — the calm surface is hiding one of the more structurally significant supply shifts of the cycle.

CoinMarketCap reported on July 23, 2026 that VanEck says Bitcoin’s quiet summer masks a tightening supply picture, with tokens that have not moved in over a year reaching 12.20 million BTC, or 60.8% of circulating supply — the 68th percentile going back to 2012. Bitcoin trades at $64,992.68, up 2.9% over the past seven days, according to CoinGecko.

VanEck Sees a Bitcoin Supply Trend That Could Change Everything
Image Via X/CoinMarketCap.

A Supply Base That Keeps Getting Tighter

This figure has climbed steadily, rising from 59.1% six months ago to 59.9% three months ago and now to 60.8%, growing at an average pace of roughly 0.4 percentage points per month. What makes the trend notable is that it’s happened despite falling prices rather than because of rising ones. The long-term holder share climbed through the price drop, not around it — a sign that holders sat still even as the market pulled back 33% from its six-month high.

VanEck’s report doesn’t expect the trend to reverse anytime soon. Sitting just behind the one-year threshold is another 3.55 million BTC, about 17.7% of supply, in the six-to-twelve-month aging band — a cohort in the 95th percentile by size since 2020. 

If those coins stay unspent past the twelve-month mark, they graduate into the long-term bucket and push the share even higher. VanEck projects that long-term share reaching roughly 62% within three months and nearing 63% within six.

Bitcoin’s Range-Bound Week

Looking at the seven-day chart, Bitcoin climbed from a low near $63,000 on July 18 to a peak just above $67,000 on July 22, before pulling back through July 23 and stabilizing near $64,992 as of July 24. That choppiness sits squarely inside the pattern VanEck describes — a market moving sideways in price while the underlying holder base keeps quietly hardening.

VanEck Sees a Bitcoin Supply Trend That Could Change Everything
BTCUSD Weekly Chart. Source: CoinGecko.

Why Dormant Supply Tends to Matter Later

Historically, periods where the long-term holder share has exceeded 60% and continued rising have lined up with above-average Bitcoin returns across horizons ranging from 30 days to two years, suggesting the structural setup favors patient holders even if near-term price action stays cautious. That said, VanEck isn’t calling this a clean bottom signal. 

The report flags cold profitability metrics, with net unrealized profit sitting at just the 17th percentile and only 53% of supply currently in profit against a four-year average closer to 76%. Miner economics are also near multi-year lows, and derivatives markets are flashing fear rather than confidence.

That combination — tightening long-term supply paired with weak short-term sentiment — is exactly the kind of divergence that tends to go unnoticed until price eventually catches up to it, one way or the other.

Tron (TRX) Picks a Subtle Upward Path

Summary:

  • TRX remains bullish, trading above the 9-day EMA despite broader market weakness.
  • SRSI shows strong buying momentum, entering overbought territory.
  • TRX could target $0.35, with $0.40 possible if momentum continues.

The Tron token continues to witness positive developments. The network continues to grow its long-term shareholder value, as more than 150,000 TRX tokens were recently acquired. This has positively affected the token’s price in the short term, while long-term optimism remains intact.

TRX 24-Hour Chart

The Tron market has retraced below the $0.3500 price level. The decline was initially sharp but slowed as the market approached the $0.3000 price level.

Tron (TRX) Picks a Subtle Upward Path
Tron (TRX) Picks a Subtle Upward Path. Source: TradingView

The current session remains above the 9-day Exponential Moving Average (EMA), forming a green price candle. Additionally, the Stochastic Relative Strength Index (SRSI) continues to trend upward and has reached the overbought region.

Tron Keeps a Positive Path

At this time, the broader crypto market is not performing particularly well, yet Tron has managed to maintain its strength in a subtle manner. Price action has continued to rise steadily and now sits above the 9-day EMA, as indicated by the latest price candle.

This suggests that bullish momentum remains in control despite the broader market’s downward retracement. Meanwhile, the SRSI lines have just moved above the 80 level, led by the indicator’s leading line.

Tron (TRX) Picks a Subtle Upward Path
Tron (TRX) Picks a Subtle Upward Path. Source: X.com

TRX Still Eyes the $0.3500 Mark

At the time of writing, the Tron token is trading at $0.3317. The current session remains just above the 9-day EMA, keeping the token on a gradual upward path.

The SRSI indicator lines also maintain an overall upward trajectory. This supports the view that the market could be heading toward the $0.3500 level in the near term, with a potential move toward $0.4000 thereafter.

Monero (XMR) Retains a Key Baseline 

Summary:

  • XMR remains strong, outperforming many cryptocurrencies despite a recent pullback.
  • Bullish momentum persists, with price above the 9-day EMA and SRSI in overbought territory.
  • XMR could target $450 if the upward trend continues.

The Monero token has emerged as one of the best-performing cryptocurrencies today. The token was able to post gains at a time when most altcoins, including Bitcoin, were trading in the red. Additionally, the coin has recorded significant spot trading volume. Even now, the token continues to hold up well. Let’s take a closer look at the market below.

Monero on the 24-Hour Chart

The XMR/USDT market on the daily chart has recorded a modest upward price surge over the past two sessions. However, since the previous session, the market has experienced a slight downward retracement, yet price action remains above the 9-day Exponential Moving Average (EMA) line.

Monero (XMR) Retains a Key Baseline
Monero (XMR) Retains a Key Baseline. Source: TradingView

The lines of the Stochastic Relative Strength Index (SRSI) indicator can still be seen in the overbought region, although they are steadily trending downward toward the 80 level.

What Is the XMR/USDT Chart Saying?

From the behavior of price action since July 1, this market has maintained an upward trajectory. Two sessions ago, bullish momentum received a notable boost. That bullish momentum received a notable boost two sessions ago.

Although the last two sessions have presented a modest bearish correction, price action continues to trade above the 9-day EMA curve. This suggests that bullish forces still have the potential to push the market higher. Meanwhile, the SRSI lines remain in the overbought region, generally indicating that buying activity is still present in the market.

Monero (XMR) Retains a Key Baseline
Monero (XMR) Retains a Key Baseline. Source: YouTube

Monero Continues to Target Higher Levels

Based on the movement of price action, the XMR market appears to remain on track toward higher price levels. Since July 1, bullish momentum has strengthened considerably. This has pushed the market above the 9-day EMA and beyond a key technical level.

The SRSI indicator lines have also climbed into the overbought region and continue to remain there. As a result, the price of XMR could potentially advance toward the $450 level in the coming days or weeks.

XRP Stays Well-Positioned for a Big Move

Summary:

  • XRP remains bullish, holding above the 9-day EMA despite a recent pullback.
  • Institutional interest is growing, supporting the token’s long-term outlook.
  • XRP could rally toward the $2.00 price level.

Recently, XRP has attracted significant institutional attention. Even Japan has shown growing interest in the project due to the solutions it offers. As a result, the token appears well-positioned to record notable price gains in the near future.

XRP Stays Well-Positioned for a Big Move
XRP Stays Well-Positioned for a Big Move. Source: TradingView

XRP Daily Chart

The XRP market has rebounded from the $1.00 support level since the beginning of July. Although the market has traded within the $1.00 to $1.20 range, the token continues to hold above the 9-day Exponential Moving Average (EMA), even with the latest bearish candlestick.

At the same time, the Stochastic Relative Strength Index (SRSI) lines remain on an upward trajectory. However, the leading line has shown a slight downward bend, reflecting a temporary loss of momentum.

XRP/USDT Remains Focused on Higher Price Levels

Bullish momentum has yet to fade in the XRP market. The latest candlestick remains comfortably above the 9-day EMA, suggesting that buyers still maintain control despite the recent pullback.

Likewise, the SRSI lines continue to point upward. The slight dip in the leading SRSI line reflects the recent bearish session and does not significantly weaken the broader bullish outlook.

XRP Stays Well-Positioned for a Big Move
XRP Stays Well-Positioned for a Big Move. Source: YouTube

XRP Maintains Both Short-Term and Long-Term Potential

As previously noted, XRP continues to attract growing institutional interest, which could encourage greater investor participation. This increased demand may support price appreciation in both the short and long term.

If bullish momentum remains intact, XRP could advance toward the $2.00 price level and potentially move even higher in the periods ahead.