High Alert

Papertrade’s Wild Weekend Ends With 93.7% Open Interest Wipeout

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: Bitcoin.com
Papertrade’s Wild Weekend Ends With 93.7% Open Interest WipeoutWorldPing
Image via Bitcoin.com.

What happened

After a whirlwind of trading activity on Papertrade, the newly launched perpetuals decentralized exchange (DEX) built on Hyperliquid, the platform’s open interest has collapsed by 93.7% over the past 24 hours.

Key facts

  • After a whirlwind of trading activity on Papertrade, the newly launched perpetuals decentralized exchange (DEX) built on Hyperliquid, the platform’s open interest has collapsed by 93.7% over the past 24 hours.
  • Reported by Bitcoin.com and published Sun, 11 Oct 2026 22:18:40 UTC.

Why it matters

Digital-asset markets react to catalysts within minutes, and liquidity, ETF flows and regulatory signals are usually what decide whether a move sticks.

What to watch next

  • Whether spot volume and open interest confirm the move
  • Liquidation clusters around the current price
  • ETF flow data and any regulatory follow-up

Sources

The original report was published by Bitcoin.com. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at Bitcoin.com

Related WorldPing coverage