Hyperliquid Faces 20-Minute Downtime as HYPE Drops 3.75%

- A 20-minute outage disrupted operations on Hyperliquid, a decentralized perpetual futures exchange. - The platform's native token, HYPE, fell 3.75% during the incident before systems were restored. On July 29, 2025 (UTC), the decentralized exchange Hyperliquid experienced a 20-minute outage. The Block reported on July 29 that a surge in traffic caused API server delays. This downtime occurred from 14:20 UTC to 14:47 UTC, disrupting order execution and preventing traders from placing or closing positions. As a result, trading applications connected to Hyperliquid, including BasedApp, also faced interruptions. During the outage, Hyperliquid’s native token, HYPE, dropped 3.75% to $43. According to reporting from The Block on July 29, a screenshot showed ETH prices on the platform diverged by $9, which highlighted the impact on trading activity and position management. Although Hyperliquid's official status page initially reported no issues, a representative later confirmed the outage in the platform's Discord community. Hyperliquid stated that it promptly resolved the issue, assuring users that it would implement additional safeguards to prevent similar occurrences. The platform also emphasized that a hack or exploit did not cause the incident. The outage was widely reported by outlets such as The Block, CoinGecko, AInvest, and Bitcoin World. The event underscored the operational challenges that decentralized finance (DeFi) platforms face during heightened activity and highlighted the need for enhanced stability and infrastructure resilience. According to data from CoinGecko on July 29, Hyperliquid’s HYPE token was trading at $43.861 as of 18:16 UTC, reflecting a 2.732% decline over the past 24 hours.