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 Extends to $0.2178 on a Tenth Mover Session With No Token News
BASED is printing $0.2178 on hyna, up 147.62% over 24 hours and roughly 11% above the ATH break posted on the ninth session. It is the tenth consecutive HIPERWIRE mover print, still with no token-specific catalyst attached. 24-hour perp …
BASED Breaks Its March ATH on a Ninth Mover Session With No Token News
BASED is printing $0.1953 on hyna, up 127.30% over 24 hours and a fresh all-time high above the March 30 TGE peak near $0.1605. It is the ninth consecutive HIPERWIRE mover session on an asset where the only token-side signal this week ha…
BASED Extends to Eighth Mover Session But Fades From Intraday High After HIP3Radar Flag
BASED is printing $0.1792 on hyna, up 110.59% over 21 hours and extending an eighth consecutive HIPERWIRE mover session off the April 11 all-time low. The perp has already fractioned off today's $0.1968 high, with HIP3Radar flagging the …
BASED Prints Seventh Mover Session as HIP3Radar Flags the Book
BASED is printing $0.1968 on hyna, up 130.70% over 20 hours and extending a seventh consecutive HIPERWIRE mover session off the April 11 all-time low. 24-hour volume on the perp has finally cleared $1 million, but HIP3Radar flagged the s…
BASED Perp Keeps Bidding Through a Punitive Funding Tax
BASED printed $0.2276 on the hyna perp, extending to roughly a 4.5x from the April 11 all-time low and stacking a sixth consecutive HIPERWIRE mover session. The only variable that has changed since the 26% day-one print is how many longs…
BASED Quadruples From All-Time Low as the Funding Loop Becomes the Trade
BASED printed $0.2056 on the hyna perp, now a ~4x from the April 11 all-time low at $0.05 and extending for a third consecutive HIPERWIRE mover session. There is still no token-specific catalyst — the Based team's fundamentals and the HY…
BASED Perp Extends 135% as Funding Rate Rips Past 9,000% APR
BASED added another 135% over 20 hours, pushing the hyna perp to $0.18 and extending the ecosystem beta trade into a second day of continuation. The funding rate cleared 9,000% APR as longs crowded in, nearly four times the extreme readi…
BASED Catches a Bid as Three Asset Managers Race to Launch a HYPE ETF
BASED added 26% in 24 hours with no token-specific catalyst. The move tracks directly to Hyperliquid ecosystem momentum: 21Shares filed its second S-1 amendment for a HYPE spot ETF today, Bitwise and Grayscale are both competing with the…
BASED Doubles From Post-TGE Floor as Bitcoin Tests $76K
BASED hit a new all-time low of $0.050 on April 11, four days after its first bounce attempt from $0.054 failed to hold. The token has since roughly doubled, with the Hyperliquid perp trading at $0.10, riding a broader crypto market rall…
BASED Bounces 18% Off Its All-Time Low as Broader Market Snaps Back
BASED hit its all-time low of $0.0537 on April 7 after nine straight days of post-TGE selling, then reversed sharply as the broader crypto market bounced on ceasefire headlines and a wave of short liquidations. The token remains down 59%…
BASED Drops 50% From Launch as Unlocked Airdrop Supply Meets Thin Market
The Hyperliquid superapp token launched four days ago with 24% of its billion-token supply immediately circulating and zero vesting for community recipients. That supply has been hitting the market steadily since, dragging BASED to withi…
Background reading selected from this asset's symbol, builder context, and archived catalyst coverage.
What Is HYPE? Hyperliquid's Native Token Explained
HYPE is the native token of Hyperliquid, the largest on-chain perpetual futures exchange. Used for staking, gas, governance, and fee discounts, HYPE has a unique economic model: zero VC allocation, protocol-level buybacks exceeding $1 billion, and dual burn mechanisms that have made it net deflationary.
How to Stake HYPE on Hyperliquid: APY & Rewards
Delegate HYPE to validators to earn staking rewards with automatic compounding on Hyperliquid. Step-by-step setup, validator selection, trading fee discounts, and how unstaking works.