A brief outage on a crypto exchange platform causes HYPE to drop 4%

According to Jinse Finance, Hyperliquid experienced a trading execution failure lasting about 20 minutes on July 29, causing its native token HYPE to drop by 3.75% to $43. The platform’s official Discord confirmed that services have been restored, while the cause of the failure is still under investigation. During the outage, BasedApp, a trading application built on Hyperliquid, was also affected. Hyperliquid is a perpetual contract exchange based on its proprietary HyperEVM chain, known for its low fees and high performance.