Hyperliquid, a decentralized exchange, has announced the introduction of staking tiers for its native token, $HYPE, effective April 30. This update will allow users to stake $HYPE to receive reduced trading fees, with the discount level determined by the amount of $HYPE staked. The initial benefits include a 5% discount for staking over 10 $HYPE, escalating to a 40% discount for staking over 500,000 $HYPE. Additionally, a whale purchased $15 million worth of $HYPE, contributing to a 12% price jump to $15. Hyperliquid has also been noted for its revenue generation and the introduction of a token sink for $HYPE, aimed at reducing trading fees. In other news, a whale on Hyperliquid, known for using high leverage, has been active in the market. The whale, identified by the address 0xf3f4...057c and publicly confirmed by @qwatio as his account, named 'MELANIA', has engaged in significant trading activities. Recently, the whale closed a $520 million short position on Bitcoin, netting a profit of $9.4 million. Following this, the whale opened a 5x long position on $MELANIA, holding 4.61 million $MELANIA valued at $3.46 million, before closing it and making a profit of $87,000. The whale then opened a new 40x short position on Bitcoin with 326 BTC, valued at $27.62 million, with an entry price of $84,566 and a liquidation price of $85,545. The whale also made a $300,000 profit on the $MELANIA position. Hyperliquid has recently launched its L1 network, added Bitcoin spot trading, implemented multi-sig security, and adjusted leverage settings. Ethena has also won a significant event related to Hyperliquid. Meanwhile, Hyperliquid traders are currently positioned net short on several assets, including $ETH, $SOL, $HYPE, and $BTC, with the majority of these positions currently in profit. The platform's leaderboard traders have a total of $632 million in shorts and $269 million in longs, with $VVV, $SUI, and $ONDO being the most shorted assets by ratio, while $kPEPE, $TIA, and $POPCAT are the most longed. A notable short position on $ETH yielded a 68% profit.