Hyperliquid Faces System Issues Amid API Congestion, Token Price Dips

Hyperliquid users encountered trading disruptions as the platform grappled with API congestion, triggering 'unexpected error sending order' messages. The issue, distinct from yesterday's outage, was swiftly addressed, though order processing delays persist. Market liquidity and volume remain depressed, with Hyperliquid's native token shedding 3.75% to $42.59 before sliding further to $42.10—a 24-hour decline exceeding 2.27%.

The team confirmed automated refunds for affected traders following Tuesday's 30-minute trading halt. 'Refund methodology will be finalized in coming days,' Hyperliquid stated via Telegram, emphasizing no ticket submissions are required. During the disruption, failed trade executions created pricing discrepancies as positions remained frozen—a scenario all too familiar in crypto's infrastructure-growing pains.