The Hyperliquid trading platform experienced a brief outage, causing HYPE to drop by 4%

According to Golden Finance, Hyperliquid experienced a 20 minute transaction execution failure on July 29th, causing its native token HYPE price to drop by 3.75% to $43 at one point. The official platform confirmed on Discord that the service has been restored, and the cause of the malfunction is still under investigation. During the malfunction, the transaction application BasedApp built on Hyperliquid was also affected. Hyperliquid is a perpetual contract exchange based on the self-developed HyperEVM chain, known for its low fees and high performance.