How do new Hyperliquid listings trade in month one?
For 19 Hyperliquid coins, the typical daily move was 5.86% in days 1-30 and 3.86% in days 31-120. 17 of 19 calmed down. See which two did not.
New Hyperliquid coins moved more in their first month than in the next three. For 19 coins, the typical daily move was 5.86% in days 1 to 30 and 3.86% in days 31 to 120. Within each coin, the early moves were a median 1.60 times the later ones.
17 of the 19 coins calmed down (89.47%). Two did not. These are past cases from a small sample, not a forecast.
What did we measure about new listings?
We measured how big a coin's daily price move was, ignoring whether it went up or down. This is the absolute daily move. A 4% rise and a 4% fall are both a 4% move. It is one simple way to measure volatility, which means how much a price swings.
A perp is a futures contract that never expires. Hyperliquid lists perps for many coins, and new ones appear often.
For each coin, we found the median daily move in its first 30 days, and again in days 31 to 120. The median is the middle result when you sort all the days. Because the same coin is in both windows, the comparison is fair to each coin on its own.
What were the results?
Here are the main numbers for the 19 coins that had enough data. Each coin counts once, however many days it traded.
| Measure | Result |
|---|---|
| Typical daily move, days 1-30 (median of the 19 coins' medians) | 5.86% |
| Typical daily move, days 31-120 (same 19 coins) | 3.86% |
| Median within-coin ratio, early over later | 1.60 |
| Median within-coin difference | 1.94 percentage points |
| Coins more volatile early | 17 of 19 (89.47%) |
The ratio is the better number. It compares each coin to its own later months. A coin that always moves a lot would raise both medians, but its ratio would stay near 1.
Which coins calmed down the most, and which did not?
Here are a few of the 19. "First seen" is the first day we saw the coin trade, not a confirmed listing date.
| Coin | First seen | Days 1-30 | Days 31-120 | Ratio |
|---|---|---|---|---|
| ASTER | Sep 19, 2025 | 9.23% | 3.14% | 2.94 |
| ICP | Nov 8, 2025 | 4.73% | 2.14% | 2.21 |
| PROMPT | Apr 12, 2025 | 8.80% | 4.23% | 2.08 |
| PAXG | Apr 6, 2025 | 0.89% | 0.54% | 1.66 |
| ZEC | Oct 2, 2025 | 6.93% | 4.99% | 1.39 |
| PUMP | Jul 10, 2025 | 7.09% | 5.52% | 1.28 |
| XPL | Aug 22, 2025 | 5.86% | 5.62% | 1.04 |
| LIT | Dec 22, 2025 | 4.04% | 4.26% | 0.95 |
| AERO | Nov 11, 2025 | 3.13% | 3.86% | 0.81 |
ASTER moved almost three times as much in its first month as later. XPL was nearly flat, and LIT and AERO moved slightly more in the later window. A ratio under 1 means the later window was the wilder one.
PAXG shows why the ratio matters. It is a token tied to the price of gold, so its daily moves were tiny in both windows. Yet its ratio, 1.66, was close to the middle of the group. Even the calmest coin moved more in its first month.
The range is wide, and 19 coins is not many. The overall result says early months tended to be bigger. It does not say any single coin will follow.
What if we only use coins with every day in view?
Some coins had missing days in the window. So we ran a stricter check with only the 3 coins that had all 30 early and all 90 later daily moves: PUMP, XPL and ZEC.
For those 3, the typical move was 6.93% early and 5.52% later. The median ratio was 1.28, and all 3 were more volatile early. The gap is smaller in the strict group, but 3 coins is far too few to confirm or refute the main result.
How much can we trust this?
Several things limit what the numbers mean.
- The listing date is a stand-in. If a coin was listed but did not trade for days, we would date it too late. We did not use exchange listing records, so do not read the dates as the day a coin launched.
- The coins had to last. A coin needed 120 days of history, so the sample favors coins that stayed listed and traded steadily. Coins already trading on April 1, 2025 were left out.
- Early and later windows fall at different times. Market conditions differ between them, so some of the gap may come from the market and not from the coin's age.
- Absolute moves are not returns. They show how big moves were, not what a trader could earn after fees.
- The first day is left out. It is usually a partial day.
The newest coins are not in the 19. Four first appeared between July and September 2026 and had not reached 120 days when our data ended. Another 24 candidates did not have enough valid days or began right after a gap in the archive.
Several of these coins, such as PUMP, XPL and ASTER, also appear in our study of the biggest liquidation episodes. That is another sign that new coins can see large moves, but it is a separate measurement.
How we measured this
We used Hyperliquid perp price records from April 1, 2025 to the end of September 2026. For each coin that first appeared after April 1, 2025, we took the first day with a trade as day 0 and left it out. We then used daily UTC close-to-close moves, requiring consecutive days and a real trade in each day's last minute. Each coin needed at least 20 valid early days and 60 valid later days to be paired. We took each coin's median early and later move, then the middle of those medians across the 19 coins. No prices were filled in. Of the 548 days in the archive, 70 were missing at least one minute, which can remove a day's endpoint.
Try this in Comparand
With Comparand connected to your AI app, you can ask about Hyperliquid:
- "Show Hyperliquid's newest listings with their first 24 hours and first 7 days." The listings tool (hl_listings) returns one row per listing: price, volume, liquidations and funding for the first 24 hours and 7 days. Censored rows are marked. It costs $0.005 per call on a pay-as-you-go key.
- "Which archive days does ASTER have complete minute bars, funding and labels for?" The calendar tool (hl_coverage_calendar) shows, for one coin, which days hold 1-minute bars, 5-minute bars, funding and labels, with status and source. It is free on every key.
Neither tool returns the 30-day medians above. Your agent can fetch daily bars for a coin and work those out. To pull whole days of the archive at once, see how to download Hyperliquid historical data. If you want to see how a coin's funding behaved, read our funding rate history. You can also try 3 coins free, read the data tool docs, or see pricing.
The short version
- For 19 Hyperliquid coins, the typical absolute daily move was 5.86% in days 1 to 30 and 3.86% in days 31 to 120.
- Within each coin, the early moves were a median 1.60 times the later ones, and 17 of 19 coins were calmer later.
- AERO and LIT were the two that were not; XPL was nearly flat.
- The listing dates are stand-ins, the sample is small, and the windows fall in different markets.
- These are past cases, not a forecast, and not a trading edge.
Questions people ask
Are new Hyperliquid listings more volatile in their first month?
In our 19-coin sample, yes. The typical absolute daily move was 5.86% in days 1 to 30 and 3.86% in days 31 to 120. Within each coin, the middle early-to-later ratio was 1.60. That is a small sample, so treat it as a description of past cases.
Did every new coin calm down after the first month?
No. 17 of 19 did (89.47%). AERO and LIT did not: AERO's typical daily move was 3.13% in the first 30 days and 3.86% in days 31 to 120, and LIT's was 4.04% and 4.26%.
Does a big first-month move mean the price will fall or rise?
No. We measured the size of daily moves with direction removed. A large move can be up or down. This is a description of past volatility, not a forecast.
How do you know when a coin listed?
We do not know exact listing dates. We used the first day we saw a coin trade on Hyperliquid after April 1, 2025, as a stand-in. A coin could have been listed earlier without trading.
Is the new-listing pattern a trading edge?
We did not test one. The numbers measure how big daily moves were, not what a trader could earn after fees. The early and later windows also fall in different market periods.