- Builder Code protocols processed a record $984 million in perpetual volume and generated $782,000 in revenue on August 21.
- LORACLE’s 685,744 HYPE short faces liquidation near $101.15 after the trader lost roughly $16 million on the position.
- Multicoin deposited 427,422 HYPE worth $31.74 million into Coinbase Prime as HYPE remained above key moving averages.
Hyperliquid’s HYPE rally has coincided with record Builder Code trading, a major short under pressure, and fresh Multicoin deposits. On August 21, Builder Code protocols handled $984 million in perpetual volume and earned $782,000 in revenue. Meanwhile, Lookonchain tracked LORACLE’s short and Multicoin’s $31.74 million HYPE deposits into Coinbase Prime.
Builder Code Volume Sets Record
According to Blockworks Research, Hyperliquid Builder Codes reached $984 million in notional perpetual futures volume on August 21. The figure set a new daily record for Builder Code trading activity.
Builder Code protocols also generated $782,000 in combined revenue that day, the second-highest figure recorded. MetaMask accounted for $143,000, while Phantom generated $114,000. Lookonchain reported that LORACLE had lost more than $70 million on HYPE over three months.
LORACLE Short Faces Liquidation Risk
Lookonchain reported that LORACLE held a 685,744 HYPE short worth about $54.88 million. The position would face liquidation if HYPE reached $101.15, according to the platform.
However, HYPE later retraced from its all-time high, reducing LORACLE’s reported loss by about $3 million. Lookonchain then placed the trader’s loss at roughly $16 million on the HYPE short.
The price move also came alongside continued HYPE deposits from Multicoin Capital. The firm continued sending HYPE to Coinbase Prime after the token reached a new all-time high.
HYPE Holds Above Key Technical Levels
Over three days, Multicoin Capital deposited 427,422 HYPE into Coinbase Prime, worth about $31.74 million. HYPE stood around $78.257 on August 23, following a rally from the $54 to $60 consolidation area.
Price remained above the $65.66 50-day moving average and $58.39 200-day moving average. Trading volume reached roughly $902.78 million, while $83.21 remained the major resistance shown on the provided chart.
Meanwhile, $76.06 marked near-term support, followed by $68.90 to $65.66. Lower levels included $61.75 and $58.39, while the chart showed a sharp rise in price and volume. HYPE remained above both moving averages as it approached the $83.21 level.
