Blockchain-based derivatives trading platform Hyperliquid (HYPE) experienced a brief outage today that lasted approximately 20 minutes. The platform’s native token, HYPE, experienced a drop of up to 4.75% during this period, falling to $42.89 but then showed a slight recovery. Chart showing the latest developments in the HYPE price. The issues began around 5:20 PM and were noticed when users' orders weren't being processed. A representative on Hyperliquid's official Discord channel confirmed that there was a problem with the system and stated that an investigation was underway and that updates would be shared. Approximately 27 minutes later, at 5:47 PM, the platform was reportedly back up and running. Related News: What is the Current Situation in Solana (SOL)? Analysis Company Gives Price Target, Warns, “Don't Panic If It Falls to This Level” Interestingly, Hyperliquid's status page showed no issues with the frontend, API, or Tier 1 components at the time. Community member Luke Cannon stated on the X platform that an API failure caused a loss of functionality in Hyperliquid interfaces. BasedApp, built on Hyperliquid and backed by prominent investors such as Delphi, Hashed, and Spartan, confirmed that the outage affected order placement. BasedApp representatives announced that the service is currently operating smoothly. However, screenshots taken during the outage show that prices were fluctuating due to positions being unable to be closed. For example, the price of ETH fluctuated by approximately $9 on the platform. *This is not investment advice. Continue Reading: 20-Minute Outage on This Altcoin Caused a Big Stir: Price Reacted
