Huma co-founder Richard Liu said on November 12 that the team was surprised by the extent of HUMA’s recent price decline and had investigated it. According to Liu, an early liquidity provider’s wallet was hacked on October 22, and roughly 12 million HUMA tokens obtained through an airdrop were subsequently sold.
Liu also reported a rise in derivatives activity: market-wide HUMA contract open interest grew from about 620 million to 1.1 billion tokens between November 2 and 7. Perpetual-futures volume reached seven to ten times spot volume, while funding rates remained negative from November 4. The report did not establish how much each factor contributed to the price decline.
Liu said the Huma Foundation and related entities had not traded HUMA in the preceding three months and had no plans to sell tokens during the upcoming unlock. He said there was currently no evidence of misconduct by partner market makers. The team planned to hold an AMA around November 19–20 to address community questions.
Original report: TechFlow, published November 12, 2026, at 14:54 UTC+8.