Activity of retail investors in the HYPE spot market, measured by how often they trade.

It compares the daily number of trades of the HYPE/USDC spot pair on Hyperliquid with its 365-day moving average, so it is a relative value rather than a raw count.

Retail Activity = (Trades / 365-day average of Trades - 1) × 100

Values well above 0 show many small investors buying or selling, which often happens near local tops; values below 0 show quieter retail interest. The series starts on 28 November 2025, one year after the token launch.

API: Spot Retail Activity · Futures Retail Activity