Hyperliquid Weekly Data Report — Week of August 17–23, 2026
Revised Sep 14, 2026: every figure below was re-verified against primary sources (Hyperliquid API, DefiLlama); historical figures that no public API provides are printed as unavailable rather than estimated.
Every metric below was fetched from a public API — the Hyperliquid official endpoint and DefiLlama — and the fetch is archived with a timestamp. This report prints only what a public source can verify: where a commonly cited metric has no public history (staking totals, weekly liquidations, open-interest history), the table says so rather than estimating. The week in one line: HYPE closed $82.37, +44.3%, protocol fees tripled to $24.6M, and L1 TVL climbed +10.2% to $6.16B.
The verified metrics
| # | Metric | Reading | Source | Note |
|---|---|---|---|---|
| 1 | HYPE price (Aug 23 close) | $82.37 | Hyperliquid candles | +44.3% WoW ($57.10 → $82.37) |
| 2 | Weekly high / low | $83.46 / $57.02 | Hyperliquid candles | Low printed Monday, high on Sunday — the week traveled in one direction |
| 3 | Biggest single day | Aug 19: $69.75, +19.3% | Hyperliquid candles | From $58.48; the squeeze day |
| 4 | Prior all-time high | $67 (May 30) | BitNotícias (news) | Partial — news-attributed; erased during this week |
| 5 | Protocol fees (7d) | $24.6M | DefiLlama | 3.1x the prior week ($8.0M) |
| 6 | Largest fee day | Aug 21: $6.20M | DefiLlama | vs a $1.4–1.6M weekday baseline |
| 7 | Squeeze-day fee print | Aug 19: $5.10M | DefiLlama | 3.4x baseline on the +19.3% day |
| 8 | Fee run-rate (annualized) | ~$1.28B/yr | Derived | $24.6M × 52 — a spike-level run-rate, not a baseline |
| 9 | TVL — Hyperliquid L1 (close) | $6.16B | DefiLlama | +10.2% WoW ($5.59B → $6.16B); rose every day from Aug 19 |
| 10 | TVL — weekly path | $5.59 → 5.58 → 5.57 → 5.74 → 5.85 → 6.10 → 6.16 | DefiLlama | Daily L1 closes, $B — flat before the catalysts, vertical after |
| 11 | BTC, same week | +23.7% | Hyperliquid candles | $62,873 → $77,804 (Sunday closes) |
| 12 | ETH, same week | +31.3% | Hyperliquid candles | $1,876 → $2,464 (Sunday closes) |
| 13 | HYPE relative strength | 1.9x BTC · 1.4x ETH | Derived | +44.3% vs +23.7% / +31.3% — same source, same clocks |
| 14 | August month-to-date | +56.9% | Derived | $52.51 (Aug 1 open) → $82.37 — the week carried the month |
| 15 | ETF flow backdrop | 3 straight days of BTC-ETF inflows | SoSoValue (news) | Partial — $517.19M / $189.30M / $297.56M; ETH ETFs ~$189.15M |
| 16 | Open interest (during the week) | Unavailable | — | No public history endpoint; OI is a stock measured at snapshot time |
| 17 | Funding (during the week) | Unavailable | — | Historical funding rates have no public archive on the info endpoint |
| 18 | Weekly liquidations | Unavailable | — | Third-party trackers report the Aug 19 squeeze (~$2.74B shorts, market-wide) but no per-venue API exists |
| 19 | Staking, HLP, addresses | Unavailable | — | No public API for staking totals, HLP returns or address counts |
| 20 | Market cap (this week) | Unavailable | — | Historical circulating-supply series is not published; only current-snapshot market cap exists (see the Sep 7–13 report) |
Not verifiable via public API (printed as unavailable, not estimated): historical open interest and funding, weekly liquidations per venue, staked HYPE and staking APY, HLP vault TVL and return, Assistance Fund weekly USD purchases, active addresses, transaction count, historical circulating supply and market cap.
The three-week lead-up
| Week | Close | High | Low | Fees (7d) | TVL L1 (close) |
|---|---|---|---|---|---|
| Aug 3–9 | $53.83 | $57.96 | $51.88 | $9.4M | $5.62B |
| Aug 10–16 | $57.10 | $58.50 | $53.74 | $8.0M | $5.58B |
| Aug 17–23 | $82.37 | $83.46 | $57.02 | $24.6M | $6.16B |
The shape: two weeks of quiet accumulation between $52 and $58 on an $8–9M fee baseline, then a vertical week — +44.3% — on dated macro and policy catalysts. The fee series moved 3.1x in step; the TVL series moved +10.2% and, unlike price, never looked back within the week. Later weeks (Aug 24–30, Aug 31–Sep 6, Sep 7–13) are covered in their own reports.
Inside the week: the daily path
| Date | Close | Δ | Protocol fees (day) |
|---|---|---|---|
| Mon Aug 17 | $59.42 | +4.1% | $1.61M |
| Tue Aug 18 | $58.48 | −1.6% | $1.43M |
| Wed Aug 19 | $69.75 | +19.3% | $5.10M |
| Thu Aug 20 | $73.77 | +5.8% | $4.25M |
| Fri Aug 21 | $75.56 | +2.4% | $6.20M |
| Sat Aug 22 | $79.41 | +5.1% | $2.94M |
| Sun Aug 23 | $82.37 | +3.7% | $3.10M |
One structural note on the daily pattern: the fee peak ($6.20M, Friday) came two days after the price peak day (+19.3%, Wednesday) — the fee line tracked the churn of positioning, not the direction of price. And the weekend, normally the fee trough, stayed elevated ($2.94M and $3.10M) because the squeeze was still resolving.
Valuation arithmetic (not a forecast)
What can be computed honestly from this week: the fee run-rate annualizes to ~$1.28B/yr at the spike pace, and buyback capacity — on third-party estimates that roughly 99% of protocol revenue routes to the Assistance Fund — is ~$24.4M for the week. What cannot: a price-to-revenue multiple, because that requires a historical circulating-supply series that no public API provides. At the current snapshot (re-verified Sep 14) the ratio is ~26x on trailing inputs; this week's own multiple is honestly unavailable.
Watching next week
- The fee tail: how fast daily prints decay from the $5–6M zone toward baseline tells you whether the spike was a two-day squeeze or a regime change in activity.
- The Aug 29 unlock: 14.18M HYPE (~$1.2B), the largest scheduled monthly release since launch — the first test of demand at these price levels.
- TVL follow-through: deposits rose +10.2% with price. If they stay after volatility fades, the rally moved capital, not just marks.
- The $83.46 high: a fresh reference level. Whether it becomes support or a local top is next week's first data point.
Frequently asked questions
Why are some metrics marked "not verifiable" instead of estimated?
Because an estimate without a source is just a number. Open-interest history, funding history, staking totals and address counts matter, but no public API publishes them as time series. Rather than print plausible-looking values, this report leaves them blank and names them, so readers know exactly what is and isn't known.
Which sources does this report use?
Two public APIs: the Hyperliquid official info endpoint (prices, candles) and DefiLlama (fees, TVL). Event context comes from dated news reports (ETHNews, CoinMarketCap, AInvest, BitNotícias), attributed inline. Raw responses are archived with fetch timestamps.
How does +44.3% decompose between HYPE and the market?
On same-source Sunday closes: BTC +23.7%, ETH +31.3%, HYPE +44.3%. The market explains roughly two-thirds of the move; the remaining ~13–21 points of excess align with the Hyperliquid-specific catalyst (the Aug 19 CFTC comments) and the +20–30% session moves in HYPE's listed ETP wrappers.
Is the $24.6M fee week a new baseline?
No — it is a volatility print. The two prior weeks ran $9.4M and $8.0M. Fee spikes of this shape accompany forced repositioning, which is by construction temporary. The durable question is where the baseline re-sets once the squeeze resolves.
What happened to the protocol health score?
This column never prints one. A composite score mixes verifiable inputs with unverifiable weights; every figure here is source-traced, and a hand-weighted score would be the least verifiable number in the report.
Is this financial advice?
No. This is data analysis for informational purposes. Nothing here is a recommendation to buy, sell or hold HYPE or any other asset.