CryptoWorld News reports that, according to Coinglass data, whale traders on the Hyperliquid platform currently hold open perpetual contract positions worth approximately $3.66 billion, of which $1.85B (50.64%) are long positions, and about $1.8 billion are short positions, with a long-short ratio of 1.03, indicating that confidence among the platform's largest accounts is relatively balanced. As a rapidly growing on-chain derivatives exchange, Hyperliquid has become a real-time indicator of institutional crypto market sentiment. Recent research reports show that the exchange handled approximately $492.7 billion in derivatives trading volume in the first quarter of 2026, ranking among the top ten globally.