Asset Intelligence / Hyperliquid Context
BASED
Market guides and dated reports for BASED. Browse recent coverage below or use the archive pages to find older articles.
Archive Summary
Latest Archived Thesis
BASED Adds 15% on Real Spot Volume While the Hyna Perp Just Follows
BASED is up 15.42% over 14 hours on the hyna HIP-3 perp, but the perp is not where the move happened. The spot token traded $10.54 million in 24 hours to post nearly the same gain, against $28,321 on the Hyperliquid market — an inversion of the thin-book dislocations that usually drive this ticker. No listing, funding round, or product announcement turned up in searches across news and X. What is left is a valuation argument: roughly $20 million in circulating market cap against the roughly $20 million in annualized revenue Based claims in its own documentation.
Archive
BASED Article Archive
BASED Adds 15% on Real Spot Volume While the Hyna Perp Just Follows
BASED is up 15.42% over 14 hours on the hyna HIP-3 perp, but the perp is not where the move happened. The spot token traded $10.54 million in 24 hours to post nearly the same gain, against $28,321 on the Hyperliquid market — an inversion…
BASED Perp Sheds 16% on a $6K Book While Spot Holds Near $0.10
The hyna HIP-3 perp on BASED fell 15.63% over 19 hours, but the entire move lives inside the order book — this market traded only about $6,463 in the last 24 hours. That slide dropped the perp to $0.08762, roughly 12% below the BASED spo…
BASED Perp Rebounds 26% on a $70K Book With No Fresh Catalyst
The hyna:BASED HIP-3 perp is up 26.50% over 24 hours to $0.09743, but there is no token-specific news behind it. On a book doing roughly $70,000 in daily volume, this is the same thin-liquidity market that whipsawed both ways last week, …
BASED Perp Sheds 28% in Four Hours, Flushing Below Spot on a $286K Book
BASED's Hyperliquid perp fell 28.44% in four hours to $0.0968, but there is no BASED-specific news behind it. On a book doing roughly $286K a day, the perp simply gave back the spike it printed a session earlier and flushed below the tok…
BASED Adds 38% on a $90K Book With No Token Catalyst
BASED climbed 38.11% over 23 hours to $0.1206, but there is no token-specific news behind it. The move is a thin-book repricing: the hyna:BASED perp turned under $90,000 in 24-hour volume, so ordinary flow prints as an outsized candle. T…
BASED Rides the DeFi Rebound 16% Higher on a $23K Book
BASED is up 15.67% over 24h to $0.07574, but there is no token-specific news behind the candle. It is small-cap beta to a market-wide DeFi rebound, with Bitcoin steadying near $60,000 and names like Aave and Solana leading the bounce. A …
BASED Slides 19% as the June Crypto Selloff Hits a $99K Book
BASED dropped 19.28% over 12 hours to $0.084 with no token-specific news behind it. The move tracks a broad June crypto risk-off, with Bitcoin sliding toward $62,000 and roughly $1.1 billion in positions liquidated across the market, lan…
BASED Bounces Off the Lows on No Catalyst as HyENA Revenue Slides
BASED is up 15.86% to $0.0719, but the move reads like an oversold bounce rather than a turn. CoinGecko flags no specific catalyst, and the hyna HIP-3 perp book carries just $33K of 24h volume against roughly $16M in spot turnover. The t…
BASED Cracks $0.13 Shelf as Bithumb Rally Unwinds Into May Unlock
BASED is down 18.52% over 24 hours to $0.1155 on its hyna HIP-3 perp, breaking through the $0.131 floor that held since the token's April 21 Bithumb KRW listing. The Korean retail bid that took price as high as $0.16 with RSI near 80 is …
How to Trade BASED on Hyperliquid
BASED is the native token of Based, a Hyperliquid-native crypto super app from the team behind HyENA, the largest fee-generating app on the network. It launched at the March 30, 2026 TGE with 36% of supply going straight to the community…
BASED Extends Bithumb Korea Bid Into Day Three
The BASED hyna perp is up 16.89% over 21h to $0.1354 as Korean retail flow from the April 21 Bithumb KRW listing runs into a third session. The HIP-3 book is still following the Ethereum spot quote on thin $80K perp volume, with $0.150 t…
BASED Perp Grinds Higher on Day Two of Bithumb's Korea Listing
BASED is extending its post-listing move on the hyna perp market, adding another 10.78% in 14 hours as Korean retail flow continues to work through the order book. Bithumb opened BASED/KRW at a 167 won reference price on April 21, and th…
BASED Perp Pushes Higher Into the Season 3 Unlock Window
BASED is $0.1316 on the hyna perp, up 27.52% over 24 hours, continuing the grind higher off the spot token's April 11 $0.05025 low. The setup is bounded by two hard dates: BasedApp's Season 3 rewards program ends May 4, and 50 million BA…
BASED Perp Catches Up to Spot's Recovery Off the April 11 Low
BASED is $0.1534 on the hyna perp, up 52.38% over 22 hours and finally moving in step with spot instead of fighting it. The underlying token is up around 141% over the past week off its $0.05025 April 11 low, with spot volume clearing $1…
BASED Perp Snaps Back 20.77% as Spot Rally Resets the Premium
BASED is $0.1002 on the hyna perp, +20.77% over 16 hours on $25,971 of 24-hour volume and the twentieth consecutive HIPERWIRE mover session for this book. The move is not a new catalyst — it is the perp re-expanding a premium back over s…
BASED Perp Fades 40.58% Toward Spot as the hyna Premium Bleeds Out
BASED is $0.1261 on hyna, down 40.58% over 22 hours and the nineteenth consecutive HIPERWIRE mover session on this book. Spot BASED is trading around $0.064, so even after this leg the hyna perp is still printing roughly 97% above the un…
BASED Fades to $0.14 on an Eighteenth Mover Session as the May 11 Claim Window Narrows
BASED is trading $0.1401 on hyna, a 51.97% move over 24 hours and the eighteenth consecutive HIPERWIRE mover session on this book. Price has fallen another ~18% from the $0.17 print posted earlier today and roughly 36% from the $0.2178 i…
BASED Fades to $0.17 on a Seventeenth Mover Session as the Season 3 Claim Tightens
BASED is trading $0.17 on hyna, an 84.65% move over 24 hours and the seventeenth consecutive HIPERWIRE mover session on this book. Price has fallen another 8% from the $0.1858 slip posted hours earlier, and roughly 22% from the $0.2178 i…
BASED Slips Back to $0.1858 on a Sixteenth Mover Session as the Unlock Nears
BASED is trading $0.1858 on hyna, a 103.54% move over 24 hours and the sixteenth consecutive HIPERWIRE mover session on this book. Price has slipped roughly 8% from the $0.203 print posted earlier today as the same thin book that walked …
BASED Bounces Back to $0.203 on a Fifteenth Mover Session With the Unlock Thirteen Days Out
BASED is trading $0.203 on hyna, a 123.72% move over 24 hours and the fifteenth consecutive HIPERWIRE mover session on this book. The tape has repaired back within 7% of the $0.2178 all-time high set April 15 after yesterday's fade to $0…
BASED Fades to $0.1786 on a Fourteenth Mover Session as the April 30 Unlock Moves Inside Two Weeks
BASED is printing $0.1786 on hyna, a 100.20% move over 24 hours and the fourteenth consecutive HIPERWIRE mover session on this book. The tape is roughly 8% under yesterday's $0.1952 thirteenth-session close and about 18% below the $0.217…
BASED Climbs Back to $0.1952 as a Thirteenth Mover Session Chases the ATH
BASED is printing $0.1952 on hyna, a 118.86% move over 24 hours and the thirteenth consecutive HIPERWIRE mover session on this book. The tape is clawing back within roughly 10% of the $0.2178 all-time high set on April 15 after yesterday…
BASED Churns at $0.1785 on a Twelfth Mover Session That Hasn't Reclaimed the ATH
BASED is printing $0.1785 on hyna, a 100.15% move over 24 hours and the twelfth consecutive HIPERWIRE mover session on this book. The tape now sits roughly 18% below the $0.2178 all-time high posted yesterday, the second session of the r…
BASED Cools to $0.1984 on an Eleventh Mover Session After the ATH Pullback
BASED is printing $0.1984 on hyna, a 122.42% move over 23 hours and the eleventh consecutive HIPERWIRE mover session on this book. It is also the first session of the run to fade rather than extend, trading roughly 9% below the $0.2178 h…
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