The Hyperliquid trading platform experienced a brief outage, and HYPE dropped by 4%

ChainCatcher news, according to The Block, Hyperliquid experienced approximately 20 minutes of trading execution failure on July 29, causing its native token HYPE to drop by 3.75% to $43. The platform officially confirmed on Discord that services have been restored, and the cause of the failure is still under investigation.

During the outage, the trading application BasedApp, built on Hyperliquid, was also affected. Hyperliquid is a perpetual contract exchange based on its self-developed HyperEVM chain, known for its low fees and high performance.