Hyperliquid's contract open interest has decreased by 1.5 billion USD since the beginning of the month, with some traders withdrawing funds or closing all positions to wait and see.

On November 12, according to Defilama data, since November, the open contract volume on Hyperliquid has decreased by approximately $1.53 billion. Some previously active traders and Whale addresses have closed all positions, observed, or withdrawn funds. According to Coinbob's monitoring of popular addresses: "The '100% Win Rate Whale' closed all positions on November 10, with the last order being a ZEC short order, resulting in a monthly loss of $31.8 million, with the remaining funds partially used to buy SOL Spot; the 'BTC OG Insider Whale' closed all positions on November 11, with the last order being an ETH long order, and $41.2 million has been withdrawn to a CEX trading platform. Additionally, according to HyperInsight monitoring: The Whale that “courageously went long on ETH after the 1011 flash crash” closed all positions on November 5, with the last order being an ETH long order, resulting in a monthly loss of $15.11 million, and $2.17 million has been withdrawn to a CEX trading platform; a popular coin trader (0xfc8) went short on November 3, leaving $7.55 million in the account, with the last orders for VIRTUAL and SOL long orders; a post-00 trader 0xRay closed positions on November 11, leaving $2.68 million in the account, with the last order being an ETH short order; the leader of the “Whale Hunting Operation” closed all positions on November 6, with the last order being an XPL long order, leaving $2.2 million in the account; a Whale who previously topped the TRUMP holdings list closed all positions on November 4, with the last order being a SOL short order, and the funds have been withdrawn to a CEX trading platform; Andrew Kang's associated address closed all positions on November 3, with the last order being a VIRTUAL long order.