Hyperliquid has seen a significant increase in active retail investors, who also show a preference for high-leverage trading.

According to AiYi's monitoring, the number of active contract traders on the Hyperliquid platform is approaching its highest level in the past six months. Since January, the number of active traders on the platform has increased significantly. On January 16th, the price of the cryptocurrency peaked and began to fall, and Hyperliquid's open interest (OI) also peaked during the same period, but the number of active contract traders remained low. On February 1st, the liquidation of $600 million in long positions held by the insider whale "1011" caused a sharp drop in OI, followed by an increase in the number of active traders. On February 8th, Yi Lihua liquidated $1.354 billion worth of ETH within 8 days, resulting in the liquidation of a large number of long positions, causing OI to drop to a short-term low, and the number of active contract traders increased further. Currently, the platform's OI is low, but the number of active retail investors has increased significantly, and they prefer high-leverage trading.