@Sakura please summarize this article, thanks uwu.
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TLDR 
This article provides an overview of the current state of the crypto markets, the upcoming Bitcoin halving event, and the growth and development of the Hyperliquid decentralized exchange.
Key Points 
- The crypto markets have experienced significant volatility and losses due to geopolitical tensions, with Bitcoin down 15% and some altcoins down as much as 60%.
- The upcoming Bitcoin halving event is expected to be a bullish catalyst, as it will reduce the amount of BTC sold by miners to cover operational costs.
- Hyperliquid, a successful decentralized exchange, has launched its own L1 blockchain, facilitated over $2 billion in daily trading volume, and generated $19.6 million in profits for its liquidity providers.
- Hyperliquid has recently launched a new meme-inspired token called $PURR, which has become a popular way for users to earn the platform’s rewards points.
In-depth Summary 
The article begins by providing a “temperature check” on the current state of the crypto markets, which have experienced significant volatility and losses due to the ongoing geopolitical tensions between Israel and Iran. Bitcoin is down 15%, and some altcoins have lost as much as 60% of their value, erasing their entire 2024 gains. The author notes that the markets have seen a significant amount of liquidations, both on-chain and on centralized exchanges.
Despite the bearish sentiment, the author sees signs that the markets may be bottoming out, such as the U.S. dollar index (DXY) reaching resistance, stocks looking oversold, and the upcoming Bitcoin halving event. The author explains that the halving, which is less than 12 hours away at the time of writing, is a bullish catalyst for Bitcoin, as it will reduce the amount of BTC sold by miners to cover their operational costs.
The article then shifts its focus to the Hyperliquid decentralized exchange, which the author describes as one of the most successful recent additions to the perpetual futures ecosystem. Hyperliquid has launched its own L1 blockchain, which supports 20,000 orders per second and is easy to bridge to from Arbitrum. The platform has attracted over 117,000 users and facilitates more volume than dYdX V4, with a cumulative trading volume of $154 billion. Hyperliquid’s liquidity provider vault, known as the HLP vault, has generated $19.6 million in profits for its users.
The article also discusses Hyperliquid’s recent launch of a new meme-inspired token called $PURR, which has become a popular way for users to earn the platform’s rewards points. The launch of $PURR has sparked some outrage from long-term farmers, as the latest points distribution was heavily weighted towards spot buyers.
Writer’s Main Point 
The main point of the article is to provide an overview of the current state of the crypto markets, the upcoming Bitcoin halving event, and the growth and development of the Hyperliquid decentralized exchange. The author highlights the volatility and losses experienced by the markets, the potential bullish impact of the halving, and the success of Hyperliquid as a thriving decentralized exchange.