MetaMask mobile integrates Hyperliquid perpetuals — any EVM token auto-converted to USDC, up to 40x
MetaMask’s mobile wallet (v7.56+) has integrated Hyperliquid’s on‑chain perpetuals engine, letting users use any EVM token (ETH, USDT, BNB, ERC‑20s, etc.) as margin. The wallet auto‑converts the chosen token to USDC in the background, removing manual bridging or transfers and reducing friction and connectivity risk. Traders can open long or short positions on 150+ assets — including cryptocurrencies, synthetic U.S. stocks, commodities and FX — with up to 40x leverage. Hyperliquid provides a deep, fast on‑chain order book and audited protocol infrastructure while MetaMask supplies distribution to a large mobile EVM user base. MetaMask frames the move as part of its evolution from a DApp connector toward a full trading platform (after swaps and Earn), which may boost on‑chain perpetual volumes and user adoption for Hyperliquid. The wallet keeps funds non‑custodial; fees, funding rates and Hyperliquid’s audit details are available in‑app and via Hyperliquid docs. MetaMask warns users about the high risk of leveraged derivatives, including rapid liquidation and potential losses beyond initial margin. Short term, expect increased on‑chain perp activity and lower access friction for mobile traders; longer term, the integration highlights growing competition between decentralized perpetual protocols and centralized exchanges for margin flow.
Bullish
The integration is likely bullish for on‑chain perpetual trading volume and user activity tied to Hyperliquid and MetaMask. MetaMask’s large mobile EVM user base plus an in‑wallet flow that auto‑converts any EVM token to USDC reduces onboarding friction and connectivity risk — factors that typically raise user participation and on‑chain liquidity. In the short term, expect increased trading volumes for assets offered as perpetuals, which can support tighter spreads and deeper on‑chain order books. Mid to long term, easier access to leveraged products through a major wallet may attract more retail and active traders to decentralized perpetuals, increasing flow away from centralized venues and benefiting Hyperliquid’s volumes and liquidity. However, price direction for any specific cryptocurrency will still depend on market conditions; the news primarily expands access and trading convenience rather than directly altering fundamentals. Risks from high leverage (fast liquidations) could produce elevated volatility during market stress, but on balance the announcement should be net positive for adoption and on‑chain perp activity.