Hyena Cryptocurrency Trading Protocol To Shut Down Amid Ecosystem Shift

HyENA, a cryptocurrency trading protocol, announced it will shut down all markets by September 2, 2026. This decision comes after processing over $4 billion in cumulative volume and serving more than 12,000 traders since launch.

The platform will delist one market per hour between August 31 and September 2, automatically settling positions without requiring users to manually close their orders.

The shutdown is due to a structural reconfiguration within its operating ecosystem, specifically the alignment of Hyperliquid's mainnet towards USDC. This shift reduced the growth margin and viability for USDe-collateralized products.