Three numbers for the same token that do not agree — and the wallets the timeline argues about, read off the chain.
Updated — · Sep 21, 06:29 PM
Source: Hyperliquid public info API, fetched directly — no keys, no third-party indexer
Circulating supply
298.8M
what every market cap on every site is multiplied by
Staked
442.0M
more than the circulating figure above — staking includes non-circulating tokens, so "% of supply staked" that divides the two is meaningless
Sitting in spot wallets
—
holder map unavailable this run
Same token, same venue, three different totals — and none of them is wrong. They count different things, which is exactly why quoting one as though it were another is the easiest mistake in this market to make. Staked is 44.3% of total supply, the only denominator that survives the comparison.
Staked by the Foundation itself
48%
212.0M of 442.0M sits on Hyper Foundation validators. When the timeline says "stakers are leaving", it can only mean the other 230.1M.
Perp funding
+10.95%
annualised, against $2B of open interest. Positive means longs are paying to stay long — whatever moves this price, it is not perp shorts.
Wallets other people published and made claims about. We verify what the addresses hold — not whose they are. Identity is their attribution, not our finding.
0x8def9f50456c6c4e37fa5d3d57f108ed23992dae
claimed: short 225.58k HYPE (~$11.8M) — @alex_hunter20 2026-08-01 https://x.com/alex_hunter20/status/2083441828662276188 ; same figure @MavenHL https://x.com/MavenHL/status/2083480908372345291
spot HYPE
0
staked
0
account value
$3M
short 104,699 · entry 64.701 · liquidation 122.458 · −$3M
0xefe4c06b6d310978bead596e1798a4fc1d9d194b
claimed: 442.44k HYPE spot (~$23.0M) unstaked residual after selling 260k HYPE ($13.5M) in 24h — @alex_hunter20 2026-08-01 screenshot
spot HYPE
0
staked
0
account value
$22.4M
0xe44bd27c9f10fa2f89fdb3ab4b4f0e460da29ea8
claimed: ~700k HYPE still staked (~$36.1M) — @MavenHL 2026-07-31 https://x.com/MavenHL/status/2083119797856833663
spot HYPE
0
staked
97,002
0x082e843a431aef031264dc232693dd710aedca88
claimed: 1.38M HYPE long, entry ~$38.675, liq ~$47.656, narrated as 'just $4 away from getting liquidated' — @MaxCrypto 2026-08-01 https://x.com/MaxCrypto/status/2083489902457729098 (he published NO address; this 0x comes from @Naeven_ and others matching the same size/entry)
spot HYPE
1
staked
0
account value
$27.5M
long 1,380,043 · entry 38.675 · liquidation 73.274 · +$75.1M
staked_total EXCEEDS circulating_supply because staking includes non-circulating Foundation/team tokens. Never divide the two: the honest denominator is total supply.