Ethereum's 24-hour trading volume on Hyperliquid has overtaken Bitcoin, with market speculation linking it to PaperTrade.

PANews, October 11 news: According to Hyperliquid News, the 24-hour trading volume of ETH on Hyperliquid has surpassed BTC, reaching approximately $1.1 billion. Analysts believe that this growth in ETH trading volume may be related to the recent suspected mechanism exploitation incident involving PaperTrade, and the related trading activity may have driven up trading demand in the ETH market.

According to previous news, crypto trader Rune stated on the X platform that PaperTrade's official documentation had in fact already disclosed that the pricing mechanism carries an "attack" risk, pointing out that the main risk at the protocol level lies in using Hyperliquid's order book BBO (Best Bid and Offer) for price manipulation. This risk involves unresolved price manipulation paths, contract economic mechanisms and exposure control, as well as operational-level protective measures and permission management mechanisms.