Foresight News reported on November 12, 2026, at 14:45 (UTC+8) that Huma co-founder Richard Liu had addressed recent commentary about HUMA. His account points to derivatives trading as a significant part of the activity, but the figures do not establish a valuation for the token.
According to Liu, a wallet belonging to an early liquidity provider was hacked on October 22, and roughly 12 million HUMA received through an airdrop was sold. He said open interest rose from approximately 620 million to 1.1 billion HUMA between November 2 and 7, funding rates turned negative from November 4, and perpetual-futures volume reached 7–10 times spot volume. In his assessment, market activity appeared concentrated in perpetual contracts.
Liu also said the Huma Foundation and its affiliated entities had made no HUMA trades in the preceding three months and did not plan to sell tokens during the upcoming unlock window. He said the foundation had provided HUMA’s DEX liquidity since the token generation event.
Open interest and trading volume describe market positioning and activity, not protocol revenue or value accruing to token holders. The reported figures therefore help explain the trading backdrop without, on their own, supporting a conclusion about HUMA’s fundamental value.