Balanced markets don't happen by accident. On every major GMX market, there are traders who consistently take the underweight side of the Open Interest. They provide the balancing flow that keeps the pools tight.
By doing so, they earn the positive price impact and funding that come with trading toward balance. It's an important service: leading to tighter pricing and more predictable execution for everyone on the platform.
Today we're launching the Balancer Program to provide additional rewards to the traders who do this — the active balancers — directly.
A dedicated referral code that pays a higher direct reward than the standard referral program, straight to your own wallet. Designed specifically for balancers: added value, in recognition of the role you play.
If you consistently trade to balance the pools — taking the underweighted side of the Long/Short balance and earning positive price impact and funding — this program is for you. Eligibility is based on consistent, meaningful balancing activity, reviewed on an ongoing basis.
Please reach out through @GMXPartners on Telegram.
We’ll confirm you qualify and help you get set up, and your rewards will start flowing directly to your wallet.
Hyperliquid, a decentralized perpetuals protocol operating on its own Layer 1 blockchain, is preparing to update its market structure in 2026 as trading activity shifts rapidly toward its open market system. Recent data shows that HIP-3, the network’s permissionless perpetuals market, has surged to account for nearly 50% of Hyperliquid’s daily trading volume, marking a significant increase from about 2% at the start of the year.
With the introduction of HIP-3, Hyperliquid enabled any developer or community to launch perpetuals markets on its platform without the need for central approval. This marks a departure from the traditional exchange-led listing process and reflects a broader trend in decentralized finance favoring open market creation and greater accessibility.
The HIP-3 system relies on an order book structure, using USDC as collateral and managing risk through shared liquidity pools and vaults. This framework has facilitated the rapid proliferation of niche derivatives products and allowed for increased user participation in assets that might not be listed on conventional exchanges.
Mini dictionary: Hyperliquid is a decentralized perpetuals trading platform that allows users to trade crypto derivatives without relying on a centralized operator. It offers both traditional and permissionless markets and operates its own Layer 1 blockchain.
Interest in long-tail and small-cap derivatives has increased as users are able to trade these assets without passing through typical listing hurdles. Permissionless perpetuals lower entry barriers for early-stage crypto projects and investors seeking new market opportunities.
HIP-3 permissionless perp markets have grown to nearly half of Hyperliquid’s daily volume, a substantial rise from just 2% at the beginning of the year.
Strategic growth and competitionThe shift toward open derivatives markets has not only expanded Hyperliquid’s product suite but also helped the platform tap into new revenue streams. By catering to niche asset classes, Hyperliquid is positioning itself to withstand competition from both centralized exchanges such as Binance and decentralized rivals including dYdX and GMX.
Recent surges in trading volume on alternative chains like Solana have underscored the intensity of competition in the decentralized derivatives sector, pushing platforms to continuously innovate in order to retain user interest.
PlatformCore MechanismMain CompetitorsHyperliquid (HIP-3)Order book, permissionless perpsdYdX, GMXBinanceCentralized exchange, vetted listingsOKX, BybitSolanaLayer 1, high trading volume, ecosystem perpsEthereum, Arbitrum protocolsChallenges and regulatory landscapeIndustry experts see the evolving landscape as part of a larger shift toward on-chain derivatives and alternatives to major centralized exchanges. However, in regions like the US and EU, the regulatory environment for decentralized perpetuals remains uncertain, leaving questions about long-term compliance and growth.
Going forward, Hyperliquid is focused on closely monitoring the performance of its vaults and evaluating cross-margin risk management. Another area under review is whether the liquidity provided by HIP-3 can remain resilient in volatile market conditions.
The platform’s long-term acceptance may depend on the appeal of market-making incentives, the availability of advanced tools, and the stance that regulators ultimately take regarding the legal status of permissionless derivatives.
The degree of market participation and regulatory clarity will play a pivotal role in shaping the future of permissionless derivatives on Hyperliquid and similar platforms.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Perpetual futures are right now crypto’s most active trading category. DefiLlama data showed $21.9 billion in perp DEX volume over 24 hours on July 3, 2026, with open interest across derivatives protocols at about $15.5 billion.
But the market is dominated and defined by Hyperliquid. The exchange led the sector with about $250.5 billion in 30-day perp volume, leaving little serious competition at the top.
That gap explains why new trading chains are still entering the market. The demand is clear, but the winner is not yet protected by regulation, brand loyalty, or deep institutional lock-in.
AFX is one of the newer challengers. It is a sovereign Layer 1 built around perpetual futures, with a fully on-chain order book, on-chain matching and settlement, zero-gas execution, 100ms median latency, fair ordering, and MEV-resistant protection.
On paper, the pitch is long. But the actual goal is simple: give traders Hyperliquid-style speed and liquidity, but with more of the trading stack moved fully on-chain.
AFX Daily Perp Volume and TVL. Source: DeFiLlama PlatformCore modelWhat it has provedWhere AFX differsHyperliquidCustom trading L1Deep perp liquidity and strong trader adoptionAFX follows a similar trading-chain thesis, but from a much earlier basedYdX ChainCosmos-based appchainPerp DEXs can leave shared execution environmentsAFX pushes more of the order flow and matching process on-chainGMXPooled liquidity and oracle pricingTraders will use pool-backed leverage without a central order bookAFX is built around exchange-style order book tradingDriftSolana-native hybrid modelFast execution can support active perp tradingAFX uses a sovereign L1 rather than Solana infrastructureLighterZK-verified derivativesVerification can become part of exchange designAll fees are redistributed to usersAevoRollup-based derivativesDerivatives can run through a dedicated rollupAFX takes the more vertically controlled L1 route The comparison is not whether AFX has more features than these platforms. The real question is whether its design solves the problems that matter during live trading: fast order placement, reliable cancels, deep maker liquidity, stable liquidations, and predictable execution when markets move sharply.
AFX Vs. Hyperliquid and dYdX AFX sits closest to Hyperliquid and dYdX, but the comparison is practical rather than one-to-one.
Hyperliquid is the liquidity benchmark. It has already proved that a custom trading L1 can attract serious perp volume, open interest, and trader mindshare.
AFX follows a similar high-performance trading-chain thesis, with 100ms median latency, zero-gas execution, on-chain orderbook trading, and deterministic ordering. Its challenge is proof: deeper liquidity, more market makers, and a longer record during volatile markets.
We didn't build another app.
We built the chain beneath it.
A sovereign Layer 1 where execution, settlement and risk management all happen fully onchain.
Designed for professional traders.
Ready for autonomous AI agents.
The next generation of perp trading starts here.… pic.twitter.com/JwSqMEeU9v
— AFX Trade (@AFX_XYZ) July 7, 2026 dYdX is the architecture benchmark. Its Cosmos-based chain uses in-memory orderbooks to keep trading fast while blocks sync the final state.
AFX pushes more of the trading process on-chain, including order placement, matching, and settlement. That gives traders more visible execution data, but it also raises the performance test.
Perp traders punish slow cancels, delayed matching, and weak liquidation systems quickly.
AFX Versus Lighter, Drift, and Aevo Lighter, Drift, and Aevo really show how varied the perp DEX field has become:
Lighter emphasizes ZK verification for matching and liquidations; Drift uses Solana-native execution with a hybrid system combining an AMM and a central limit orderbook; Aevo uses an EVM-based optimistic rollup for derivatives trading. AFX differs through vertical control. It uses a trading-specific L1 and aims to coordinate consensus, orderbook execution, settlement, margin, liquidation, APIs, and trader UX inside one dedicated system.
This is also where the AI-agent angle becomes important. AFX offers agent wallets that can place, cancel, and modify orders, update leverage and margin mode, and receive private WebSocket data.
Moreover, users can limit agent permissions for withdrawals, transfers, agent authorization, revocation, and vault operations.
Risk Design During Market Stress Perp DEX quality becomes visible during volatile markets. Mark-price design, liquidation mechanics, and backstop liquidity determine whether traders face orderly execution or unstable loss socialization. A strong venue needs risk controls able to hold up when price moves become fast, liquidity thins, and leverage unwinds at once.
AFX highlights several risk controls: manipulation-resistant mark pricing based on native orderbook data and external exchange feeds, staged liquidations, backstop liquidity through its vault, and capped open interest per market.
Security also deserves a word. Zellic’s public audit repository lists an AFX Bridge audit from May 2026 on EVM, which supports mention of a third-party audit for the bridge scope.
A Note on Incentives and Trader Alignment Perp DEXs often compete through points, rebates, fee tiers, maker rewards, vault yield, and revenue sharing. These tools can seed order flow, attract market makers, and reward active traders, although long-term value depends on sticky liquidity after rewards cool.
AFX’s VIP Program is a great example, where high-volume traders can receive lower fees and a share of platform fee revenue, with 30% to 50% of protocol revenue allocated across eligible tiers.
Importantly, AFX’s revenue sharing may help attract professional traders, but its durability will depend on execution quality, spreads, open interest, trader retention and more.
AFX Tokenomics and Community Distribution AFX’s tokenomics also support its active-trader positioning. The model is built around community distribution first, with 73% of the 1 billion token supply allocated across genesis distribution, protocol incentives, core community, and ecosystem development.
The largest single bucket is protocol incentives at 30%, which means the token model is designed to reward ongoing trading activity, liquidity participation, and node staking rather than only early access.
Genesis distribution accounts for 27% of supply and is fully unlocked at TGE, creating meaningful early float from day one instead of concentrating liquidity around delayed unlocks.
How AFX Promises to Distribute Its Revenue. Source: Medium AFX also has no VC allocation and no private rounds, which gives the token model a user-participation angle rather than a private-investor allocation structure. Core contributors receive 19% of supply, but this allocation has no TGE unlock, a one-year cliff, and 36-month linear vesting. This ties contributor incentives to longer-term protocol development rather than immediate liquidity.
The treasury allocation is set at 8% and is intended for compliance, infrastructure, and risk reserve needs under governance and foundation discretion. Points also connect current user activity with future token distribution, with a fixed 10 million-point pool across three seasons and conversion expected at TGE.
Who AFX Is Really Built For AFX makes the most sense for traders who care about execution control rather than simple leveraged exposure.
Active perp traders who want order book trading, fast order placement, and more control over entries, exits, and cancellations. Market makers and high-volume traders who need low fees, API access, predictable sequencing, and enough technical transparency to monitor execution quality. On-chain-native traders who prefer public settlement, visible order flow, and a trading stack that keeps more of the exchange process on-chain. Automated strategy builders who want agent wallets, private WebSocket data, and permission controls for bots or AI-assisted trading systems. Traders looking beyond crypto pairs who want perpetual exposure to stocks, indices, metals, and commodities inside a crypto-native venue. AFX is less suitable for casual users, passive DeFi investors, or traders who only want a simple leverage product with minimal setup. It is also not the obvious first choice for users who prioritise the deepest existing liquidity, the longest operating history, or the broadest stress-tested track record.
For those traders, Hyperliquid, dYdX, or GMX may still feel safer until AFX proves its liquidity, uptime, and liquidation design across more volatile market cycles.
The open issue is proof. AFX has early volume, a defined technical thesis, and a set of features aimed at active traders, but the strongest perp venues are judged over time. Liquidity depth, uptime during volatility, liquidation behavior, independent audits, and trader retention will matter more than launch metrics.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Most major EU crypto platforms have begun restricting access to users due to the implementation of the Markets in Crypto-Assets (MiCA) regulations. However, GMX, a decentralized perpetual exchange, announced that its smart contracts remain open to all users, including those in the EU. This divergence underscores the regulatory impact of MiCA, which mandates that centralized platforms comply with stringent authorization and operational requirements, while decentralized protocols like GMX are less affected due to their lack of a centralized operator. The new rules, effective July 1, 2026, conclude an 18-month transition period for EU-based Crypto-Asset Service Providers (CASPs) to comply or cease operations.
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Key Takeaways Market activity suggests a possible decrease in Bitcoin’s future price expectations, with implications that regulatory pressures like MiCA could hinder market growth. GMX’s ability to operate outside MiCA’s scope could provide it an advantage over centralized platforms now facing stricter compliance requirements. The adjustment in Bitcoin market pricing appears consistent with participants viewing regulatory developments as a constraint on the cryptocurrency reaching higher price targets. What to Watch The EU’s MiCA regulations have introduced significant changes for crypto platforms, with centralized exchanges facing new compliance hurdles. Observers should monitor how these developments affect user behavior and market dynamics, particularly if decentralized platforms like GMX attract users from centralized exchanges. Additionally, the response from key market actors and potential regulatory adjustments will be crucial in determining the future landscape for crypto assets in the EU.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 1.8% — — View market → December 31 2.1% — — View market → December 31 2.3% — — View market → December 31 3% — — View market → December 31 5.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 44.5% — — View market → January 1 2027 8.5% — — View market → January 1 2027 1.7% — — View market → January 1 2027 2.4% — — View market → January 1 2027 2.9% — — View market → January 1 2027 4.5% — — View market → January 1 2027 7.5% — — View market → January 1 2027 82% — — View market → January 1 2027 15.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 4.2% — — View market → January 1 2027 62.5% — — View market → January 1 2027 29% — — View market → January 1 2027 11.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 4.3% — — View market → January 1 2027 2.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 1% — — View market → January 1 2027 12% — — View market → January 1 2027 20.5% — — View market →
Who, or what, uses DeFi protocols is changing. Autonomous AI agents are doing things humans used to do: scanning markets, assessing risk, executing trades, and managing positions around the clock. Simple trading bots have evolved into systems capable of multi-step reasoning, cross-protocol strategy, and real-time risk management. And they’re becoming a growing source of on-chain activity, our data shows.
For this to work at scale though, agents need more than permissionless access. There is a meaningful gap between a protocol that allows agent interaction and one that is genuinely built for it. Agents need clean interfaces, structured data, tooling that integrates with modern frameworks, and documentation written for programmatic consumption (not just human readers).
Most DeFi protocols weren’t designed with any of this in mind. GMX has spent the past several months addressing that. And today the core integration stack is ready.
Documentation is the foundation. For a human developer, docs that are slightly ambiguous or inconsistently structured are an inconvenience. For an AI agent using documentation as runtime context, it can cause errors, hallucinations, and failed calls.
GMX has restructured its docs from the ground up with programmatic consumers in mind. Every function reference uses consistent naming conventions. Parameter definitions are precise, with explicit types and valid ranges. Return schemas are documented in full. Code examples are written to be useful to both a human reader and a language model.
The result is documentation that both a dev and their agent can rely on.
The GMX SDK gives developers a typed, structured interface to the protocol’s core functionality without needing to construct raw contract calls or manage ABIs manually. It is designed specifically around the workflows that matter to agent builders.
Because the SDK exposes clean, typed functions with predictable return shapes, it is straightforward to wrap in agent tools.
The GMX API has been designed around the needs of agent use cases from the ground up. Endpoints follow consistent RESTful conventions. Responses are typed and schema-stable.
The endpoints most relevant to agent workflows include real-time market data (prices, funding rates, open interest), position reads and writes, fee estimation, and historical data for strategy backtesting and context.
Beyond API access, GMX has invested in a library of agent “skills”: pre-built, reusable action modules for common GMX operations. Skills allow agents to perform complex protocol interactions with minimal configuration: opening a leveraged position, setting a stop-loss, reading funding rates, etc.
Skills are designed to be composable. An agent can chain them together to execute multi-step strategies that would otherwise require significant engineering. They lower the barrier for developers who want to build sophisticated agent behavior on GMX quickly.
The combination of agent-optimized docs, a typed SDK, a structured API, and pre-built skills opens up a wide range of use cases for developers building on GMX:
Autonomous trading agents that implement custom strategies, and execute on GMX’s deep markets
Risk management bots that monitor open positions in real-time, and adjust leverage or tighten stop-losses when risk thresholds are crossed
Portfolio rebalancing agents that use GMX perps as a hedging layer, automatically adjusting exposure
Cross-protocol agents that combine GMX with lending protocols, yield optimizers, or other DeFi primitives to run strategies
Alerting agents that monitor GMX market conditions (funding rates, open interest spikes, etc.) and surface insights or trigger actions based on them
Elfa AI is one of the first teams to put GMX’s upgraded agent stack to work in production. Elfa continuously indexes price movements, social chatter, news, and prediction markets, surfacing insights when something relevant happens.
Their autonomous trading agent, Elfa Auto, closes the loop: a user creates a strategy based on Elfa’s signals, sets their trigger conditions, and when the conditions are met, Auto executes the trade directly on GMX via the SDK and API. Research to execution in one continuous flow; a capability neither GMX or Elfa could offer alone.
To put that workflow to the test, GMX and Elfa AI are jointly running GMX Masters: a live trading competition where AI-driven strategies compete in real markets. It is an opportunity to see the research-to-execution workflow in action, and to put your own agent-driven strategies to the test.
Take a look and sign up now: go.elfa.ai/gmx-masters-x
Everything you need to also build on GMX is available for you:
SDK repository and quickstart: https://docs.gmx.io/docs/category/sdk/
Plugins and Skills: https://docs.gmx.io/docs/ai-agents/plugins-and-skills/
Developer support: contact @GMXPartners on Telegram
One surface still on the roadmap is an MCP server; a native Model Context Protocol integration that will let agents built on Claude, Cursor, and compatible frameworks call GMX with zero custom integration work.
• Step 1 — Connect: Install the SDK and configure your agent’s tool definitions using the GMX typed interfaces
• Step 2 — Query: Use the API or SDK to pull live market data, check funding rates, or read a position.
• Step 3 — Execute: Submit an order, manage a position, or automate a full strategy workflow autonomously, 24/7.
GMX is committed to the builder community since 2021, and will continue investing in tooling, integrations, and developer support.
If you are building an autonomous agent and/or integrating GMX, we want to know about it. Share what you’re working on with us in the GMX Telegram channel.
The best integrations get amplified to the community, and the GMX team is here to help you ship.
In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and returned over $40 million worth of assets stolen from the project.
Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit ended on a happy note after the individual responsible for the incident turned into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 million on Wednesday when an attacker exploited a vulnerability in the protocol’s first version on Arbitrum.
According to online reports, GMX V1’s vault contract had a vulnerability that allowed the attacker to manipulate the GLP token price through the system’s calculations.
Blockchain security firm SlowMist explained that “The root cause of this attack stems from GMX v1’s design flaw, where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”
Through a reentrancy attack, they successfully established massive short positions to manipulate the global average prices, artificially inflating GLP prices within a single transaction and profiting through redemption operations.
As a result, approximately $42 million worth of assets, including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH (WETH), and other tokens, were transferred from the GLP pool to an unknown wallet.
The perpetual crypto exchange halted GMX V1’s trading and GLP’s minting and redeeming on both Arbitrum and Avalanche to prevent another attack and protect users’ funds. However, they clarified that the exploit was limited to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the GMX token were not affected and remained safe.
White-Hat Claims $5 Million Bounty Following the incident, GMX sent a message on-chain and on X offering a $5 million white-hat bounty to the attacker, claiming that their abilities were “evident to anyone looking into the exploit transactions.”
GMX’s team noted that returning the funds within the next 48 hours and accepting the bounty would allow the hacker to “spend the funds freely,” instead of taking additional risks to access them. They also vowed not to pursue any legal action and to assist the exploiter in providing proof of source for the funds if it is ever required.
Today, the exploiter responded in an on-chain message, accepting the bounty and starting the return process. As Lookonchain reported, they initially returned $10.49 million worth of FRAX on Friday morning.
GMX exploiter accepts white-hat bounty. Source: Lookonchain on X Meanwhile, another $32 million worth of assets had been swapped into 11,700 ETH, which are now valued at $35 million after the King of Altcoins’ price jumped to the $2,990 mark.
In the following hours, the hacker returned 10,000 ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the bounty.
GMX later confirmed that the funds have now been safely returned and thanked the white-hat hacker for their actions, ultimately giving a positive turn to the incident.
Lastly, they informed users that “contributors are working on a proposed distribution plan for presentation to the GMX DAO and will share more information shortly.”
GMX token trades at $13.24 in the one-week chart. Source: GMXUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
TLDR: GMX has facilitated over $363 billion in notional volume across eight chains, now adding MegaETH. MegaETH processes up to 100,000 transactions per second with 10-millisecond block confirmation times. Chainlink’s oracle infrastructure has enabled over $28 trillion in total transaction value across DeFi. MegaETH’s Chainlink integration unlocks nearly $14 billion in assets for over 740,000 GMX traders. GMX has launched perpetual markets on MegaETH, combining Chainlink Data Streams with the blockchain’s 10-millisecond block times.
The deployment brings real-time trade execution to one of DeFi’s most active perpetual exchanges. With over $363 billion in notional volume, GMX continues expanding its multichain presence.
This move aims to close the performance gap between decentralized and centralized trading platforms.
GMX’s integration with MegaETH marks a notable step in onchain derivatives trading. MegaETH processes up to 100,000 transactions per second, making it the first real-time blockchain.
These speeds allow GMX to offer faster price updates than most decentralized competitors. The result is a trading environment that mirrors the responsiveness of centralized exchanges.
Chainlink Data Streams serve as the oracle backbone for this deployment. The pull-based oracle solution delivers sub-second price data directly to GMX’s smart contracts.
This setup supports lower gas fees while maintaining accurate and timely price feeds. Chainlink’s infrastructure has already enabled over $28 trillion in transaction value across DeFi.
GMX first partnered with Chainlink Data Streams in 2023 following a community governance vote. That partnership laid the groundwork for GMX V2’s computationally dense contract architecture.
The current MegaETH deployment builds directly on that foundation. It runs on the same proven GMX stack operating across seven other chains.
The initial launch phase prioritizes stability and performance consistency across the network. A second phase will introduce MegaETH-specific optimizations without disrupting the existing trading experience.
GMX serves over 740,000 traders and integrates with more than 70 DeFi protocols. Adding MegaETH extends that reach to a new layer of high-throughput users.
MegaETH’s Chainlink Integration Opens Access to Major DeFi Assets MegaETH joined the Chainlink Scale program last month, expanding its oracle capabilities. The integration covers Chainlink Data Feeds, Data Streams, and the Cross-Chain Interoperability Protocol.
Through these tools, MegaETH users can now access nearly $14 billion in assets. These include Lido’s wstETH, Lombard’s BTC.b, and LBTC.
The Scale program connection also brings top DeFi protocols to MegaETH users immediately. Aave, Avon, HelloTrade, and GMX are among the protocols now accessible on the chain.
Each protocol benefits from Chainlink’s real-time oracle data flowing through MegaETH’s high-speed infrastructure. Together, they form a growing DeFi ecosystem built for performance.
A 2024 GMX case study confirmed Chainlink’s role in building secure, high-performance decentralized exchanges. The study showed how oracle quality directly affects user experience and platform safety.
Faster price updates reduce the risk of delayed liquidations during volatile market conditions. This directly protects traders from avoidable losses caused by stale price data.
As real-time blockchain infrastructure matures, partnerships like this one reflect where DeFi is heading. GMX and Chainlink are building tools that meet traders where centralized platforms currently operate.
MegaETH provides the speed layer that makes this possible at scale. The deployment represents a practical, tested approach to advancing perpetual market infrastructure onchain.
A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
According to monitoring by Onchain Lens, a newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
4 minutes ago
JPMorgan Chase raised its S&P 500 target to 7,800 points, while warning of an overcrowded AI trade.
JPMorgan Chase has raised its year-end outlook for U.S. stocks, while cautioning investors that the overcrowding in AI-related momentum stocks is becoming the market’s most vulnerable segment. The JPMorgan strategy team led by Dubravko Lakos-Bujas lifted its 2026 year-end target for the S&P 500 from 7,600 to 7,800 points, citing continued upward revisions to corporate earnings expectations and nearly doubling of AI-related capital expenditures. The bank noted that consensus earnings expectations for both 2026 and 2027 have been revised up by roughly 10% since the start of the year, a magnitude typically only seen in the recovery phase after a recession or major shock. However, JPMorgan does not interpret this upward revision as a risk-free rally. The bank pointed out that low-quality growth stocks, speculative growth stocks, and second- and third-tier AI-related concept stocks have become "extremely overcrowded," and a pullout of capital could trigger a rapid correction. The strategists also noted that rising equity supply in the coming quarters and potentially tight monetary policy could cap further valuation expansion. On the allocation front, JPMorgan recommends a barbell strategy: holding high-quality growth stocks and stocks directly benefiting from AI on one end, and low-volatility, high-quality stocks as a portfolio buffer on the other. The bank remains bullish on tech, select industrials, utilities, defense, banks, and some healthcare growth stocks, but believes the market’s upward trajectory will not be linear.
4 minutes ago
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
4 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
4 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
4 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
PANews reported on April 3rd that, according to data and analysis from The Block, Hyperliquid's market share in the perpetual contract market has climbed to nearly 6%, a significant increase from approximately 3.5% a year ago, with monthly trading volume approaching $200 billion. This growth occurred during a period when overall exchange trading volume has declined from its peak in August 2025, indicating that Hyperliquid is truly capturing market share. On-chain competitors such as dYdX and GMX have not yet reached Hyperliquid's level in terms of trading volume growth or product expansion. Hyperliquid's expansion into non-crypto assets such as oil is a significant part of its growth, and its 24/7 trading model eliminates the gap risk caused by traditional market opening time restrictions. If decentralized perpetual contract platforms can continue to expand liquidity and asset coverage, their reach will extend far beyond native crypto trading volume, reaching the multi-trillion-dollar traditional derivatives market.
PANews reported on April 7th that the MegaETH team released an investor memo during Easter, sharing the latest project progress and future plans. The main updates are as follows:
Chain Progress: MegaChain ranks seventh in holder rewards and has experienced zero downtime; SUSDM 1:1 bridging has been launched, and $USDM now complies with the x402 v2 standard; MegaETH is defining a universal EVM specification to support MPP. Mafia Ecosystem: World Market is now publicly listed; Euphoria has completed its audit and is about to launch; Hit One has integrated GMX liquidity, with USDm becoming its sole treasury asset; Showdown has completed its Spring Championship and distributed rewards; the new project Dream has joined the Mafia ecosystem and is developing an options protocol. The TGE plan, based on KPIs, emphasizes the team's commitment to achieving meaningful token milestones and plans to launch a functional ecosystem, stablecoin adoption programs, and user-friendly applications. The team acknowledged previous underestimation of timelines for some foundational work and stated they will accelerate ecosystem development through clear decision-making and team coordination. The team stated that April will be a crucial and exciting month, with the launch of new products, the introduction of a new Mafia project, and the release of new primitives to solve real-world problems, continuing to maintain the unique dynamism of MegaETH.
Previous reports indicated that MegaETH would use its native stablecoin yields to buy back MEGA tokens .
PANews reported on April 8th that, according to The Block , Hyperliquid , a decentralized perpetual contract trading platform, saw its share of global perpetual contract trading volume rise to nearly 6% in March , a significant increase from approximately 3.5% a year ago, with monthly trading volume approaching $ 20 billion. The report states that even with the overall decline in exchange trading volume since August 2025 , Hyperliquid's share has continued to rise, indicating its acquisition of real market share from centralized exchanges. Compared to other decentralized platforms such as dYdX and GMX , Hyperliquid is leading in both trading volume growth and product expansion. The platform has expanded to non-crypto assets, including 24/7 commodities such as crude oil, and the proportion of related transactions in overall trading volume is constantly increasing, seen as an early sign of decentralized derivatives platforms entering the traditional multi-trillion-dollar derivatives market.
GMX now offers perpetual swaps on the two most popular precious metals: Gold (XAU/USD) and Silver (XAG/USD). Both markets are frictionless synthetic perps: positions are opened and settled onchain using WETH-USDC liquidity, with pricing secured via Chainlink’s low-latency Data Streams.
Market names: XAU/USD and XAG/USD
Availability: 24/7, continuous
Market type: Synthetic perpetuals (no spot asset)
Maximum leverage: 100x during on-hours / 25x during off-hours
Pricing: Chainlink Data Streams
Collateral backing: WETH-USDC GM liquidity pools
Dynamic GLV liquidity: Both GM pools are included in GLV [ETH-USDC]; GLV holders earn fee revenue from these markets, and liquidity automatically rebalances to these markets based on trader demand
Trading fees: 4 bps for the underweight side of open interest; 6 bps for the overweight side Now just 1 or 2 bps during market hours!
Primary deployment: Arbitrum One
Multichain access: Traders on Base, BNB Chain, and Ethereum Mainnet can also frictionlessly access these markets on GMX
Gold and Silver are two of the most liquid financial instruments globally, with daily turnover in the hundreds of billions across spot and futures markets. Gold (as seen again very recently) serves as a global pricing reference for inflation expectations, currency strength, geopolitical risk, and real interest rates.
Unlike equity markets, these commodities do not have exchange hours that create structural gaps in pricing or forced position closures. Both metals trade continuously across global futures and OTC markets. Traders are generally not heavily exposed to overnight risk from closed markets or to the spread distortions that follow a market re-open.
These properties make XAU/USD and XAG/USD very suitable for 24/7 on-chain perp trading. Moreover, the industry has shown significant demand for trading real-world assets lately, and GMX has been eager to offer access to these markets.
Both XAU/USD and XAG/USD markets leverage Chainlink Data Streams to ensure secure, reliable price data, operating on the same decentralized oracle infrastructure that underpins GMX’s more than 100 existing perps.
Chainlink Data Streams provide fast, reliable, and rich onchain data delivery, enabling decentralized applications to access high-frequency, real-time data on demand with cryptographic verification, powering latency-sensitive onchain financial products.
A sub-second delivery oracle that draws on global liquidity is an essential condition for running these GMX markets at acceptable risk parameters, for both traders and liquidity providers that depend on accurate real-time pricing for their positions.
The launch of XAU/USD and XAG/USD highlights GMX’s expansion into perps for commodities and other real-world assets. This reflects a broader assessment of where our permissionless derivatives trading infrastructure can meaningfully extend.
Crypto assets have been the natural starting point. But the architecture that supports those GMX markets — synthetic structure, oracle pricing, 24/7 settlement, permissionless access — is not specific to crypto. It applies equally to any globally traded financial instrument where continuous pricing exists, and deep underlying liquidity prevents manipulation.
Gold and silver markets are the opening position in that RWA direction. The required decentralized infrastructure is now increasingly available. Future expansion into other precious metals and asset classes is coming, evaluated on the same criteria: pricing availability, underlying market depth, and oracle coverage.
GMX’s objective is to be the go-to permissionless, composable, open platform for a broad range of financial markets — trade any leading asset, from any leading public blockchain.
“Gold and silver perps on GMX are the first step in a broader move into real-world assets. The infrastructure — synthetic markets, oracle pricing, 24/7 settlement — doesn’t care whether the underlying is a crypto token or a commodity. Chainlink Data Streams give us the pricing reliability these markets require. More asset classes are coming.” — Jone Zee, Communications Coordinator at GMX
“We’re excited to see GMX adopt Chainlink to power its newly launched gold and silver perpetual markets. Through Chainlink, GMX is establishing advanced markets where commodities are accessible to everyone and traded 24/7. This is how we enter a new era where the world’s largest commodities are traded onchain at a massive scale.” — Johann Eid, Chief Business Officer, Chainlink Labs
XAU/USD (Gold) and XAG/USD (Silver) perpetuals are live now; you can start trading the new 24/7 markets here:
The Arbitrum-native exchange launched precious metals perpetuals as onchain commodity trading gains momentum across DeFi.
Decentralized perpetual exchange GMX has launched 24/7 gold and silver markets on Arbitrum, drawing more than $10 million in trading volume on the first day, the protocol announced on X.
The new XAU/USD and XAG/USD markets are synthetic perpetuals settled onchain using WETH-USDC liquidity. Pricing is secured through Chainlink Data Streams, the same oracle infrastructure that underpins GMX's existing perp markets, according to a blog post from the exchange.
"We're excited to see GMX adopt Chainlink to power its newly launched gold and silver perpetual markets," said Johann Eid, Chief Business Officer at Chainlink Labs. "This is how we enter a new era where the world's largest commodities are traded onchain at a massive scale."
The launch comes at a turbulent moment for precious metals. Gold climbed above $4,800 per ounce on Tuesday, rebounding from prior losses as the U.S. and Iran signaled their willingness to resume ceasefire negotiations.
GMX said gold and silver represent the starting point for a broader push into real-world asset (RWA) derivatives, with additional commodities and asset classes under evaluation. Both pools are included in the protocol's GLV [ETH-USDC] vault, allowing liquidity providers to earn fee revenue as demand scales. Traders on Base, BNB Chain, and Ethereum mainnet can also access the markets via GMX's multichain infrastructure.
The move places GMX alongside a growing roster of DeFi protocols racing to bring traditional asset exposure onchain. Hyperliquid's permissionless HIP-3 markets have seen commodity perpetuals, particularly oil, dominate trading activity in recent months.
The broader tokenized commodities sector has expanded rapidly. Tokenized gold surpassed $4 billion in market value in January and is now approaching $5 billion, led by Tether Gold and Paxos Gold. New entrants like Theo have launched yield-bearing tokenized gold products, while the World Gold Council has proposed shared infrastructure to lower barriers to entry and improve fungibility across digital gold products.
The growth underscores demand for permissionless precious metals exposure, particularly as geopolitical uncertainty continues to drive interest in safe-haven assets traded outside traditional market hours.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
GMX has lowered the fees on its 24/7 GOLD/USD and SILVER/USD markets to 0.01% on the underweight side of open interest and 0.02% on the overweight side, during CME trading hours. When contributing to OI balance, the total cost for opening and closing a position is now only 2 basis points. When adding to the skew, it is 4 bps. Using a GMX referral code will make you eligible for an additional 5-10% discount on top.
The fee reduction on Gold and Silver applies during on-hours, which are based on CME trading sessions: Sunday 22:15 UTC through Friday 20:45 UTC, with a short daily maintenance period (see the clear visual overview below). Outside of these hours, GMX’s standard rates apply: 4 bps if your trade reduces the OI skew, and 6 bps if it increases it.
Gold recently reached an all-time high. Trader interest in precious metals exposure has grown vastly in 2025 and into 2026, and various CEXes and DEXes have launched commodity perps in response. Fee structure is a meaningful differentiator for active traders, particularly on an asset like gold, and GMX aims to offer traders institutional-grade rates onchain.
CME gold futures round-trip costs for retail traders are typically in the range of 1–3 bps in raw fees, before spread. However, those come with expiry, margin calls via brokers, counterparty risk, and restricted hours. GMX’s on-hours rate now sits in the same range, with self-custody, decentralized Chainlink oracle pricing, and 24/7 availability.
For additional context, GMX’s closest onchain competitors currently charge between 4 and 9 bps at base taker rates to open and close a position on gold (or use a so-called ‘zero fees’ model where the large bid-ask spread is the effective cost traders pay).
Note: this is not a promotional rate or a temporary incentive. 1 or 2 basis points on open and close is, as of now, the standard on-hours fee structure for GOLD/USD and SILVER/USD on GMX.
> Start trading precious metals on GMX
GOLD/USD and SILVER/USD trade 24/7 on GMX, including on weekends (read the launch announcement to learn more). The on-hours and off-hours configurations are designed around CME trading sessions, with a 15-minute buffer applied before CME close and after the open:
During on-hours: maximum leverage of 100x, very low fees, and standard open interest caps.
During off-hours: maximum leverage goes down to 25x, open interest caps are reduced, and price impact is higher to account for thinner underlying market liquidity.
Existing positions will remain open when off-hours begin. However, the liquidation threshold tightens from 200x to 100x, meaning positions held at leverage close to 100x are at elevated risk of liquidation during off-hours. Traders cannot increase a position above 25x during off-hours; they can only decrease its leverage. When on-hours resume, all thresholds return to the on-hours parameters.
This structure reflects the interplay between GMX’s oracle pricing via low-latency Chainlink Data Streams and the way commodity markets work. Tighter risk parameters during off-hours are not a limitation imposed on traders; they are a consequence of reduced price discovery in the underlying market when the CME is closed.
GOLD/USD and SILVER/USD are listed under the RWA (real-world assets) category in the GMX market dropdown. Both are searchable by common name (GOLD, SILVER) and ticker (XAU, XAG).
Open the Trading Interface
The two precious metals markets are deployed on Arbitrum, where they can be traded directly from your self-custody wallet.
Gold and Silver are also available for trading on Ethereum, Base, or BNB Chain via your GMX Account. Think of your GMX Account as a multichain trading wallet you can easily fund from anywhere and withdraw from at any time.
GMX has launched 24/7 perpetual markets for WTI Crude Oil (WTIOIL/USD), Brent Crude (BRENTOIL/USD), and Natural Gas (NATGAS/USD). All three are backed by and tradable using WETH and USDC on Arbitrum; there is no underlying spot asset. Market pricing for the energy commodities is powered by high-speed data from Chainlink Data Streams.
GMX removes three major constraints of traditional energy futures: the 49-hour weekend blackout, a daily one-hour gap, and a timezone problem that puts the most liquid sessions in the middle of the night for anyone outside the US or UK. Add a broker requirement, margin accounts, and a ~$90K minimum notional per WTI contract, and retail access effectively doesn’t exist.
Additional Market Specs:
Availability: 24/7, continuous
Trading fees: Starting at just 1 or 2 bps during CME market hours, and based on the Open Interest balance
Maximum leverage: OIL: 100x during on-hours / 25x during off-hours; NATGAS: 40x during on-hours / 20x during off-hours
Dynamic liquidity: The GM pools underlying these energy perps were added to the GLV [ETH-USDC] vault, so liquidity can dynamically meet demand
Primary blockchain deployment: Arbitrum One
Multichain access: Users on Base, BNB Chain, and Ethereum Mainnet can also seamlessly trade these energy markets via their GMX Account
Trade the energy markets at: app.gmx.io
Akin to the low-fee Gold and Silver markets launched last week, energy commodities have clear active trading sessions that affect liquidity depth and price stability. The parameters for these 24/7 GMX markets reflect that reality, with conditions adapting to on-hours and off-hours trading:
Energy commodity markets are technically open around the clock, but their liquidity profile is not uniform. WTI and Brent crude have benchmark pricing windows tied to major trading centers. Natural gas pricing is similarly concentrated during peak session hours.
Outside those windows, bid/ask spreads widen, order book depth thins, and price moves can be more abrupt. GMX’s on/off-hours parameters for fees, leverage, and open interest caps account for this directly.
GMX has adopted these primary markets while removing their traditional constraints, enabling traders to open, close, reduce, or adjust their positions even during the Friday-to-Sunday blackout or the daily one-hour maintenance gap.
WTI and Brent crude are the two primary global oil benchmarks and underpin the largest commodity derivatives markets. Natural gas is also one of the most actively traded energy instruments, with pricing that responds to supply dynamics, weather, and macro conditions.
Trading these instruments on leverage through traditional channels requires a futures account or a brokerage with commodities access; routes that introduce counterparty risk and other friction. GMX’s synthetic perps remove the custodian from the equation, and democratize access.
The launch of WTIOIL/USD, BRENTOIL/USD, and NATGAS/USD follows last week’s introduction of low-fee XAU/USD (Gold) and XAG/USD (Silver) markets, GMX’s first perps for real-world assets.
The expansion logic is consistent: we focus on globally traded instruments with the liquidity depth and pricing infrastructure needed to support synthetic perp markets without weakening risk parameters.
GMX’s objective is to be a leading permissionless trading platform for a broad range of globally traded instruments, including Forex and stock indices. The current RWA market lineup is the first phase of that ongoing expansion. Sign up to be notified when new markets go live:
All three markets are powered by the Chainlink data standard via Data Streams, which actively secures all of GMX’s existing 100+ perp markets.
For perpetuals, oracle quality has a direct bearing on execution integrity. The low-latency delivery window closes the gap between oracle price and market price, and the aggregated pricing is designed to make price manipulation significantly more difficult. These properties matter to all users, and are even more relevant during the off-hours when underlying liquidity is thinner.
GMX is the go-to permissionless exchange for trading Perps on a growing range of global financial instruments. Trade 100+ transparently fair markets across multiple asset classes, with up to 100x leverage, fast execution, and sub-second Chainlink oracle pricing—all from your wallet.
Over 45,000 liquidity providers on GMX earn from billions in weekly volume. Trusted by thousands of traders daily and integrated across 70+ DeFi protocols, GMX is a foundational layer for DeFi on public blockchains.
GMX users can now trade the just-launched MegaETH token ($MEGA) on leverage on both the Arbitrum and MegaETH blockchains. Additionally, GMX is featured on Terminal, MegaETH’s points-driven ecosystem discovery portal that helps you explore key dapps.
MegaETH’s token-generation event has just taken place, making $MEGA tradable. On GMX, the MEGA/USD perpetual market is available in two configurations, each reflecting the liquidity infrastructure of its respective chain.
On Arbitrum, the MEGA/USD market is structured as a synthetic perpetual; the MEGA token has not yet been bridged to Arbitrum. The market is backed by the GLV [WETH-USDC] vault, and can be traded using WETH and USDC collateral. This gives Arbitrum-based traders direct exposure to MEGA price movements, allowing them to seamlessly go long or short with up to 40x leverage.
On MegaETH, the MEGA/USD market is backed by the existing GLV [USDM-USDM] vault, GMX’s stablecoin-only liquidity product. Traders on MegaETH can long or short MEGA, BTC, ETH, and SOL with up to 50x leverage, with all trades backed by USDM collateral.
All price data for the markets on GMX is provided by Chainlink’s decentralized, sub-second Data Streams.
Trade MEGA perps now at app.gmx.io
GMX is now live on Terminal as well, MegaETH’s mainnet points program. Terminal maps the Mega ecosystem and enables users to explore it through a points-based engagement model. GMX is among the prominently highlighted protocols, and activity on GMX MegaETH contributes to your Terminal point allocations each epoch.
Activities on GMX MegaETH that users are recommended to explore include:
Trading Perps
Referring Friends
Providing GLV Liquidity with $USDM
And earning positive realized PnL
Each category carries a distinct weight in the overall allocation.
Connect your wallet at http://terminal.megaeth.com, explore the ecosystem map, find GMX, and start earning.
Please note: Users start with a base multiplier that grows as they explore the MegaETH ecosystem. Click the Apps button in Terminal and allocate your weekly multiplier to GMX to boost your points!
The CEO search has concluded: Q has been appointed as the first Chief Executive Officer of GMX Labs, following a structured selection process with 20 applicants
Q is a long-standing community member, top GMX token holder, and the architect of GMTrade.xyz
The Strategic Plan to Restore Price Discovery, passed by the GMX DAO in March, continues to advance
Weekly $GMX buybacks are ongoing, with 168,500 tokens reacquired for approximately $1.1M since March.
The search for a Chief Executive Officer for GMX Labs is complete. Twenty candidates applied, and following a thorough evaluation by the Interim Leadership Committee, a selection has been made:
Q has been appointed as the first CEO of GMX Labs.
Q needs little introduction, for most of you. A long-time community member, leading governance delegate, top GMX token holder, and the driving force behind GMTrade.xyz — the community-built GMX deployment on Solana — Q has been a consistent presence in the ecosystem across governance, product, and community. He has already started onboarding, meeting with contributors and reviewing active initiatives. The transition committee is supporting him through that process over the coming weeks.
In his own words, posted to the GMX governance forum upon his appointment:
“Return to first principles: everything a Perp DEX should do comes down to delivering deeper liquidity, lower trading costs, more tradable markets, a better trading experience, and stronger community reach. Every decision must align with these goals. Every opportunity is worth exploring — but always through the lens of minimal cost and rapid experimentation. Eliminate any process that slows execution, and place efficiency and speed at the highest priority. Let results speak.”
This appointment gives GMX Labs a clear center of gravity for execution and a public-facing figurehead, accountable to both the DAO and the contributors building the protocol day to day.
The CEO appointment arrives alongside continued execution on the ‘Strategic Plan to Restore Price Discovery’, passed by the GMX DAO in early March. The plan targets the structural conditions that limit the effectiveness of the ongoing buyback program, specifically, CEX supply overhang and fragmented protocol liquidity.
Staking reward distribution remains suspended; buybacks continue. Effective 4 March 2026, all GMX staking rewards were redirected to the Treasury. The 27% of protocol fees previously distributed directly to stakers continues to accrue on their behalf, and is being deployed into open-market GMX purchases. These accumulated rewards will be distributed once GMX reaches the $90 price threshold established by governance.
The buyback program has deployed approximately $1.1M in protocol earnings since March 5. In total, 168,500 GMX tokens were repurchased, at a blended average of ~$6.50. The annualized run rate at current fee levels amounts to: $6–7M per year.
The buy-wall measure has concluded. A one-time, Treasury-backed buy-wall of 1,000,000 GMX was set at $5 on-chain for one week, shortly after the plan’s implementation. The $5 level was not reached during that window. The measure was fixed and non-extendable by design; it has now ended.
Phase 1 of Liquidity Restructuring is complete. GMX-controlled positions on Uniswap V2 and Trader Joe have been unwound, with the withdrawn liquidity redeployed into GMX’s own infrastructure.
The most recent implementation milestone brought two major, related dApp upgrades:
GMX buyback data is now fully on-chain and verifiable. The dApp displays a weekly breakdown of GMX repurchased, a cumulative total, and an annualized buyback rate. These figures are all sourced directly from blockchain state and are double-checkable by anyone. Buyback accrual is also integrated into your portfolio card on the Earn page.
Staking Power is live. Staking Power determines your proportional share of future reward distributions. It accrues as a function of time staked multiplied by the amount staked. A loyalty threshold is in effect: dropping below 80% of your historical peak balance resets your accumulated Staking Power to zero.
The dApp shows your loyalty health indicator, warns clearly before any unstake that would trigger a reset, and displays your projected share of future distributions.
Staking Power and Staking Rewards begin to accumulate the second you stake any GMX tokens:
Binance Leverage will remove some trading pairs, including LSK/USDC and HEI/USDC.
PANews reported on May 11 that, according to an official announcement, Binance Leverage will remove the following leveraged trading pairs on May 15, 2026 at 14:00 (UTC+8):
Full margin leveraged trading pairs: LSK/USDC, HEI/USDC, GMX/USDC, BIGTIME/USDC, MAV/USDC; Isolated margin trading pairs: HEI/USDC, BIGTIME/USDC.Share to:
Author: PA一线
This content is for market information only and is not investment advice.
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A new wallet withdraws 17,700 ETH from Binance, worth $28.58 million
Since a set of changes to GMX’s funding rate configuration was implemented in late April, traders on GMX are paying about 65% less in funding.
The main takeaways:
Median rates on the funding-paying side are down over 65% versus the pre-update baseline
93 out of 109 markets saw lower funding rates
The share of long-tail perp markets with funding above 50% has dropped to near-zero
Lower, more stable funding makes it much cheaper for traders to hold positions long-term. It also opens the door for GMX to easily and safely support larger, more liquid markets.
This is only the first round of improvements to the funding mechanism; further refinements are already in the pipeline.
[PRESS RELEASE – Kingstown, Saint Vincent and the Grenadines, May 21st, 2026]
NOW Wallet, a non-custodial crypto wallet focused on security, multi-chain access, and seamless DeFi experience, now has direct access to perpetual futures and prediction markets built into the app. That means platforms like Hyperliquid, Aster, Lighter, GMX, and dYdX for perps trading, and Polymarket and PancakeSwap for prediction markets — all accessible without leaving the wallet.
Perps and prediction markets
Perpetual futures (“perps”) allow users to take positions on cryptocurrency price movements without holding the underlying asset. These instruments support features such as leverage, short positioning, and continuous trading, which have contributed to their widespread use in digital asset markets.
Prediction markets operate on a different model. Rather than tracking asset prices, they reflect the perceived likelihood of specific outcomes. Participants take positions on whether an event will occur, such as a cryptocurrency reaching a certain price level, a macroeconomic development, or other predefined scenarios. Market prices adjust as expectations change, and positions are resolved once the outcome is determined.
Both segments have expanded within decentralized finance (DeFi) in recent years.
Bring this into the wallet
Until now, accessing advanced DeFi trading tools meant a fragmented workflow — separate accounts on separate platforms, funds split across multiple places, constant switching between apps and browser tabs. It worked, but it wasn’t clean.
This update brings that access into one place. Users can connect to supported protocols directly through their wallet, fund trading balances, sign transactions, and manage positions — all while keeping self-custody of their assets. No centralised exchange accounts required.
The aim is straightforward: make on-chain trading more direct, less fragmented, and actually usable on mobile.
Part of a broader shift in crypto UX
Wallets started as storage tools. That’s changing. As more users engage with swaps, staking, trading, and prediction markets at the same time, the expectation has shifted — a wallet should be the access layer for all of it, not just a place to park funds between sessions.
Adding perps and prediction markets is part of that direction for NOW Wallet.
About NOW Wallet
NOW Wallet is a non-custodial multi-chain crypto wallet supporting storage, swaps, staking, fiat purchases, and dApp access across 70+ blockchain networks.
The feature is available now in the latest version of NOW Wallet.
Users can download NOW Wallet: https://walletnow.app/
Most decentralized perpetuals protocols compete on fee basis points and trading volume. GMTrade is betting on something larger: a single venue where traders can move between crypto, FX, commodities, indices, and eventually equities without ever touching an order book. The project’s co-founder William laid out that roadmap in a recent podcast, framing the endgame as an on-chain version of Robinhood — built on Solana, powered by pooled liquidity and Chainlink’s low-latency data feeds.
The protocol launched close to 90 markets already, including WTI crude oil, gold, silver, and palladium. That kind of asset expansion is not typical for a perp platform that began as a GMX fork. The team broke away from the fork label after realizing the product complexity and community scale demanded independence. Now GMTrade runs its own liquidity pool, fee structure, and points system on Solana, targeting both retail and institutional traders who want exposure beyond crypto.
Why Pooled Liquidity Beats the Order Book — for This Use Case The design choice matters because it changes how markets can scale. Order book exchanges need deep bids and asks from day one. That requirement makes launching new asset markets expensive, slow, and dependent on market makers who expect subsidies. GMTrade sidesteps that entirely. Its pooled liquidity model lets the protocol spin up a gold or FX market without convincing a market maker to quote tight spreads first.
Fee compression follows naturally. The team quotes a 0.5 basis point trading fee, roughly five to nine times cheaper than leading Solana order book competitors that typically charge around 3 basis points. The difference is structural. Order book platforms carry the ongoing cost of subsidizing liquidity. The pooled model reduces that drag, which can translate into wider market coverage and lower costs for users over time. It also allows the team to prioritize open interest over raw volume as a metric of real economic engagement.
Oracle Infrastructure and the Risk-Reward Equation for LPs Under the hood, the protocol’s ability to price off-chain assets like FX or crude oil relies on Chainlink Data Streams. The low-latency feeds, deployed on Solana, made it feasible for GMTrade to list non-crypto instruments without exposing LPs to stale pricing. The partnership is not new; William noted the relationship began during his GMX days and influenced the decision to build on Solana once Chainlink committed to the new product.
For liquidity providers, the yield story is more nuanced than a standard lending pool. LP returns come from trading fees, borrowing fees, and liquidation fees, but the capital does not sit idle. It acts as counterparty to trader PnL. William acknowledged that LPs take on trading risk, though historically losing traders tend to outnumber profitable ones, creating a net positive fee flow. He also stressed that GMTrade emphasizes real yield over governance token incentives, a distinction he argued separates it from protocols that advertise eye-catching APRs that collapse once token emissions are stripped out.
Sophisticated LPs can hedge some of the trader PnL exposure. Others may simply accept the risk profile knowing the pool has operated similarly to GMX’s structure for several years. The absence of a lock-up period for the points incentive layer also gives users an exit ramp that traditional staking programs lack.
Points, Costs, and Weeding Out Wash Volume Points farming is an addiction the DeFi sector cannot quit, but GMTrade designed its system to make it expensive. GT points are not airdropped. Users earn them by paying fees — trading fees, borrowing fees, or simply holding positions. William compared the model to Bitcoin’s issuance curve: as the total points pool grows, the cost of earning new points rises, so early, sustained participation gets a better cost basis than late-stage, volume-spiking behavior.
The approach filters out some of the hollow farming that points campaigns often attract. Even if a user chases points, the fees they pay still generate protocol revenue. William claimed the platform has yet to see large-scale farming, and most activity still comes from genuine traders. That assessment matters for any future token generation event, because points would likely inform distribution. The mechanism rewards those who put real capital at risk rather than those who manufacture cheap volume.
From Commodities to Stocks: The On-Chain Robinhood Bet The move into real-world assets is not a side experiment. William pointed out that the FX market alone dwarfs crypto, offering a much larger pool of potential volume, open interest, and fee income. GMTrade already lists precious metals, energy, and index markets. In the medium term, the team plans to work with Chainlink to expand coverage further, with a long-term target of thousands of markets. Stocks are on the roadmap, though prediction markets — a winner-take-all category — look less attractive for now.
This push mirrors the broader tokenization trend that saw real-world assets cross $20 billion on-chain recently, driven by institutional settlement milestones and infrastructure buys. GMTrade’s angle is retail-first but shares the same thesis: moving traditional financial instruments on-chain unlocks liquidity and accessibility that legacy rails cannot match.
The mobile app adds another layer. William argued that perpetuals trading often starts on desktop for analysis but finishes on mobile for position management. A dedicated app targets users who spend their crypto hours on Telegram and Phantom, making it easier to check, close, or add to trades from a phone. The ambition is to match Robinhood’s mobile dominance with a decentralized backend that does not custody assets and charges a fraction of the fees.
Solana’s Role in the DEX Perps Race GMTrade’s bet on Solana is not just about speed and low fees. The network holds a large retail user base and growing institutional presence, as developer activity data often reflects. Ethereum and Solana regularly top blockchain developer activity rankings, signaling infrastructure momentum. A pooled perp protocol that lists gold and crude oil speaks as much to Solana’s evolving use cases as it does to GMTrade’s roadmap.
The unresolved question is demand. Open interest will reveal whether traders actually want to hold FX and commodity positions on a decentralized perp platform alongside their crypto exposures. The fee advantage is clear, but liquidity fragmentation across chains and execution reliability during volatility remain variables. Structured incentives can jump-start growth, but real retention depends on whether the execution quality holds up when a crude oil position moves sharply against a trader at 3 a.m.
William’s view is that traders care more about net profit than brand. If GMTrade can deliver tighter costs and credible asset coverage, some flow will migrate. That is the same logic that propelled Robinhood’s zero-commission model. But doing it on-chain, with pooled counterparty risk and decentralized oracles, is a far more complex engineering challenge. The protocol is still early in proving that the product can attract sustained position size, not just promotional volume.
GMX has launched SPCX/USD, a perpetual futures market offering exposure to SpaceX — one of the most valuable private companies in the world — before any public listing.
The SPCX/USD market is available now at app.gmx.io, with up to 10x leverage and 24/7 trading hours. This is a new type of market for GMX, launching with limited initial OI capacity as GMX establishes the infrastructure for pre-IPO equity perps.
SPCX/USD is a synthetic perp designed to reflect the market-implied price per share of SpaceX. It is not SpaceX equity, nor does trading SPCX/USD provide shares, ownership, voting rights, dividends, an IPO allocation, or redemption rights.
SpaceX has never been publicly traded. GMX’s perp market gives traders the ability to take long or short positions on the market-implied valuation of the company, permissionlessly and at any time.
Start trading SPCX/USD: app.gmx.io
Note: This is an event-mode market built around the upcoming IPO. It launches with limited initial OI capacity. Caps and trading parameters may change around the IPO, and opening or increasing positions may be unavailable when caps are reached.
After the IPO, the market is expected to transition to a standard On-Hours/Off-Hours schedule: still accessible at all times, but with enhanced risk controls outside of regular business hours.
SPCX/USD builds on the same infrastructure that powers all the perps on GMX:
Permissionless access, directly from your self-custody wallet on Arbitrum and with support for Ethereum Mainnet, Base, and BNB Chain via your GMX Account.
Transparent, aggregated price data via Chainlink’s low-latency Data Streams, tailor-made for GMX.
Deep pool-based liquidity, provided by 45,000+ users holding GM and GLV tokens.
Real-time risk parameters managed by GMX’s risk engine.
SPCX/USD is the latest addition to GMX’s growing suite of perp markets for TradFi assets, which includes commodities like Gold (XAU/USD), Silver (XAG/USD), WTI Crude Oil (WTIOIL/USD), Brent Crude (BRENTOIL/USD), and Natural Gas (NATGAS/USD).
GMX’s infrastructure is built to support any priceable global asset class (crypto, equities, commodities, indices, and beyond) with the same permissionless, on-chain execution that’s made it one of the most battle-tested decentralized trading platforms.
Traders on GMX are matched against a pool of liquidity provided by GM and GLV token holders. Providing liquidity is peer-to-pool, permissionless, and open to anyone.
GLV tokens offer 50/50 exposure to a diversified basket of GMX’s highest-utilized markets, with yield auto-compounded into the token price.
GM tokens allow liquidity providers to take risk-isolated exposure to a single market of their choosing.
The synthetic SPCX/USD perp is backed by WETH-USDC liquidity and has been integrated into the GLV [WETH-USDC] vault, ensuring liquidity is dynamically allocated to the market to meet demand.
Anyone can supply WETH or USDC from Arbitrum, Ethereum, Base, or BNB Chain to the GLV [WETH-USDC] vault to become a liquidity provider and earn rewards (learn more about the yield mechanics). Providing liquidity directly to the GM: SPCX/USD pool is currently unsupported.
View the Earn opportunities for LPs: app.gmx.io/#/pools
SPCX/USD is a synthetic perpetual market. It is not SpaceX equity and does not confer shares, ownership, voting rights, dividends, IPO allocation, or any redemption rights. This market launches with limited initial OI capacity and is subject to parameter changes. Trading (pre-IPO) perpetual futures involves significant risk, including the potential loss of your entire position.
A new GMX governance proposal wants to pay the protocol’s incoming CEO an annual salary of one dollar. The catch: up to 2 million GMX tokens are on the table if the team can push the token price to levels that would make current holders very, very happy.
The GMX DAO advanced a proposal titled “$1 and 1,000,000 $GMX” to a Snapshot vote on May 20, moving from forum discussion to a formal governance decision. The plan would replace traditional token compensation with a performance-based incentive structure that only pays out when specific price milestones are met.
The structure: skin in the game, or nothing The incentive pool is capped at 2 million GMX, split into two equal tranches of 1 million tokens each. The first tranche unlocks when GMX hits a 30-day Time Weighted Average Price of $100. The second tranche requires a 30-day TWAP of $1,000.
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Those prices aren’t measured by some internal metric or self-reported figure. The proposal specifies Chainlink oracles as the measurement mechanism, which removes the team’s ability to game the numbers.
The incoming CEO, identified in governance documents as “Q,” has agreed to earn just $1 per year in base salary. Every dollar of additional compensation depends on hitting those community-defined price targets.
Incentives vest linearly over one to five years, with the timeline tiered by role within the organization. The proposal also includes clawback rights for misconduct. If someone on the team acts against the DAO’s interests, their unvested tokens can be reclaimed.
What this replaces and why it matters This incentive structure is designed to replace the previous compensation arrangement under GMX Labs for the 2026-2027 funding cycle.
Under aggressive vesting scenarios, the projected annual supply impact is capped at roughly 800,000 GMX. That’s the maximum dilution holders would face in any given year, and it only materializes if the price targets are actually hit. If GMX never reaches $100, no tokens from the first tranche are distributed. If it never reaches $1,000, the second tranche stays locked.
Community feedback on the governance forum has been largely positive. Several community members noted, however, that additional execution-focused proposals would be needed to ensure the compensation model translates into actual protocol growth.
Funding sources and specific allocations for the incentive program haven’t been finalized. Those details will be addressed in future DAO proposals, meaning this vote is effectively the first step in a multi-stage governance process.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Grand Cayman, Cayman Islands, July 9th, 2024, Chainwire
In a step forward for the derivatives ecosystem on Arbitrum, two prominent DeFi projects, GMX and Gains Network, have unveiled bids to integrate their platforms into Kwenta’s upcoming perpetuals marketplace. Kwenta, the leading perpetual futures exchange on Optimism, expanded its reach earlier this year by launching the Base network, reflecting a larger plan to connect derivatives liquidity across multiple chains. This announcement follows the recent approval of a grant from the Arbitrum DAO aimed at supporting Kwenta’s initial expansion to the Arbitrum network.
Product Offerings from GMX and Gains Network Table of Contents
Product Offerings from GMX and Gains NetworkStrengthening the Arbitrum EcosystemLooking AheadAbout KwentaContact GMX and Gains Network have submitted their proposals to integrate their liquidity into Kwenta’s platform. These integrations aim to enhance the trading experience for Kwenta users by providing access to additional markets and liquidity, while taking advantage of Kwenta’s UX-focused roadmap, which includes allowing traders to log in with traditional web2 credentials and sponsoring gasless transactions.
GMX v2, Arbitrum’s flagship perpetual futures AMM (Automated Market Maker), built on the initial success of their v1 product by being the first to integrate Chainlink Data Streams, a low latency product from the leading oracle provider aimed at high-performance applications. The lower fees and wider selection of markets available on GMX v2 allowed the offering to quickly grow in popularity with onchain traders.
Gains Network, known for its gTrade platform, offers a wide variety of trading pairs, including cryptocurrencies, forex, and commodities, supported by their decentralized oracle network. Gains Network’s innovative approach to perpetual futures provides traders access to up to 150x leverage on a growing list of nearly 200 markets.
Strengthening the Arbitrum Ecosystem The integration of GMX and Gains Network into Kwenta’s perpetuals marketplace is expected to drive growth in the onchain perpetuals space by allowing users to easily access advanced DeFi products from Kwenta’s easy-to-use UX layer. While retail-focused applications have made huge steps forward in allowing users to quickly access the best prices for token swaps and bridging, onchain leverage has remained a complex product for more sophisticated DeFi enthusiasts.
This strategic expansion brings Arbitrum’s most popular derivatives trading venues under a single platform, providing a simple and familiar experience for traders new to onchain products. Kwenta’s roadmap promises to build on these quality of life features, allowing users to interact with multiple protocols in a single application.
Looking Ahead Kwenta is currently inviting community feedback on these proposals as it moves towards finalizing its perpetuals marketplace. The potential integrations with GMX and Gains Network align with Kwenta’s mission to provide a superior decentralized trading experience. With these developments, Kwenta is aims to become a leading venue for DeFi derivatives trading on Arbitrum.
About Kwenta Kwenta is an onchain derivatives marketplace on Optimism, Base, and Arbitrum. The platform offers easy-to-use tools to access deep liquidity and low fees onchain, while users retain full custody of their funds. With over $50 billion in trading volume through its community-governed platform, Kwenta is committed to developing tools that bring DeFi to everyone.
For more details, users can follow Kwenta’s governance discussion channels on Discord.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
[PRESS RELEASE – Grand Cayman, Cayman Islands, July 9th, 2024]
In a step forward for the derivatives ecosystem on Arbitrum, two prominent DeFi projects, GMX and Gains Network, have unveiled bids to integrate their platforms into Kwenta’s upcoming perpetuals marketplace. Kwenta, the leading perpetual futures exchange on Optimism, expanded its reach earlier this year by launching the Base network, reflecting a larger plan to connect derivatives liquidity across multiple chains. This announcement follows the recent approval of a grant from the Arbitrum DAO aimed at supporting Kwenta’s initial expansion to the Arbitrum network.
Product Offerings from GMX and Gains Network GMX and Gains Network have submitted their proposals to integrate their liquidity into Kwenta’s platform. These integrations aim to enhance the trading experience for Kwenta users by providing access to additional markets and liquidity, while taking advantage of Kwenta’s UX-focused roadmap, which includes allowing traders to log in with traditional web2 credentials and sponsoring gasless transactions.
GMX v2, Arbitrum’s flagship perpetual futures AMM (Automated Market Maker), built on the initial success of their v1 product by being the first to integrate Chainlink Data Streams, a low latency product from the leading oracle provider aimed at high-performance applications. The lower fees and wider selection of markets available on GMX v2 allowed the offering to quickly grow in popularity with onchain traders.
Gains Network, known for its gTrade platform, offers a wide variety of trading pairs, including cryptocurrencies, forex, and commodities, supported by their decentralized oracle network. Gains Network’s innovative approach to perpetual futures provides traders access to up to 150x leverage on a growing list of nearly 200 markets.
Strengthening the Arbitrum Ecosystem The integration of GMX and Gains Network into Kwenta’s perpetuals marketplace is expected to drive growth in the onchain perpetuals space by allowing users to easily access advanced DeFi products from Kwenta’s easy-to-use UX layer. While retail-focused applications have made huge steps forward in allowing users to quickly access the best prices for token swaps and bridging, onchain leverage has remained a complex product for more sophisticated DeFi enthusiasts.
This strategic expansion brings Arbitrum’s most popular derivatives trading venues under a single platform, providing a simple and familiar experience for traders new to onchain products. Kwenta’s roadmap promises to build on these quality of life features, allowing users to interact with multiple protocols in a single application.
Looking Ahead Kwenta is currently inviting community feedback on these proposals as it moves towards finalizing its perpetuals marketplace. The potential integrations with GMX and Gains Network align with Kwenta’s mission to provide a superior decentralized trading experience. With these developments, Kwenta is aims to become a leading venue for DeFi derivatives trading on Arbitrum.
About Kwenta Kwenta is an onchain derivatives marketplace on Optimism, Base, and Arbitrum. The platform offers easy-to-use tools to access deep liquidity and low fees onchain, while users retain full custody of their funds. With over $50 billion in trading volume through its community-governed platform, Kwenta is committed to developing tools that bring DeFi to everyone.
For more details, users can follow Kwenta’s governance discussion channels on Discord.
Trader Maji was liquidated on his 25x leveraged long Ethereum position, incurring $1.9 million in losses, and subsequently opened a new position.
According to monitoring by OnchainLens, Stanley Huang, known as "Machi Big Brother" (@machibigbrother), has had his 25x leveraged long Ethereum (ETH) position fully liquidated, incurring a loss of approximately $1.9 million. Notably, he opened a new 25x leveraged long ETH position immediately after the liquidation. Machi Big Brother’s cumulative historical losses exceed $35.4 million.
5 minutes ago
Micron posted strong quarterly results, with its quarterly revenue and next-quarter outlook significantly exceeding market expectations. Its stock surged nearly 16% in after-hours trading, driving a broad rally across the storage sector.
According to its official financial report, Micron Technology (MU.O) reported Q3 fiscal 2026 revenue of $41.456 billion, beating market expectations of $35.423 billion and surging from $9.301 billion in the year-ago period. The company issued Q4 fiscal revenue guidance of $50 billion, against market expectations of $42.915 billion. Micron CEO Sanjay Mehrotra stated: "Micron’s record-breaking Q3 fiscal financial results and stronger Q4 outlook reflect the strategic value of memory chips in the AI era. We believe our multi-year strategic customer agreements will significantly enhance the durability and predictability of Micron’s strong financial performance." Micron’s Q3 report showed net profit of $28.24 billion, or $24.67 per share, up from $1.89 billion, or $1.68 per share, in the same period last year. Excluding certain one-time items, Micron reported adjusted earnings per share (EPS) of $25.11, exceeding analysts’ consensus estimate of $20.86. Driven by the quarterly revenue and outlook that topped expectations, as of press time, Micron jumped 15.95% in post-market trading on the U.S. stock market, also lifting other memory stocks sharply: Seagate (STX) rose 10.21%, Western Digital (WDC) gained 12.31%, and SanDisk (SNDK) surged 15.77%.
5 minutes ago
Kalshi is reportedly seeking a new round of financing, with its valuation potentially rising to $40 billion.
According to a report from the U.K.’s Financial Times, prediction market platform Kalshi is in discussions with investors for a new funding round targeting a roughly $40 billion valuation, with a potential close as early as the third quarter of this year. The development follows Kalshi’s $1 billion financing round completed last month, which valued the firm at $22 billion, with backers including leading institutions such as Coatue, Sequoia Capital, Andreessen Horowitz, and Morgan Stanley. Data shows Kalshi’s trading volume last month surpassed $17 billion, a sharp jump from less than $5 billion a year prior, with approximately 65% of that volume stemming from sports-related prediction contracts.
5 minutes ago
Polymarket integrates with Telegram via TON, enabling users to participate in prediction markets directly within the messaging app.
Polymarket has been integrated into Telegram via Predict, a native decentralized application (dApp) of the TON ecosystem. Developed by the Getgems team, the app allows users to directly participate in prediction markets covering sports, politics, cryptocurrency, culture and other sectors within Telegram. Transaction results are settled on-chain, and users retain full control over their assets. Users can participate in trades using USDT on the TON network, and pay a small amount of GRAM for gas fees. The cross-chain infrastructure is powered by STON.fi’s Omniston protocol, enabling the prediction market service to seamlessly integrate into the Telegram ecosystem.
5 minutes ago
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 minutes ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
ETH leads crypto majors higher, BTC dominance falls. US House taking steps for US to be crypto capital. Sharplink to buy $20m ETH, stock pops 12%. GameSquare raises $8m to buy ETH, stock +60%. Bit Digital stock keeps pumping on ETH pivot. BioSig, StreamEx to tokenise commodities on SOL. Phantom intros perps powered by Hyperliquid. GMX faces $40m exploit. Tether reveals $8b gold stock pile in Swiss vault. Expect us to be largest BTC miner this year: Tether. OpenAI stock tokens backed by SPV: Robinhood. Aevo offers 1000x lev on tokenised stocks. DoJ charges OmegaPro founders with $650m fraud. Tether is a money launderer’s dream: The Economist. EIGEN announces 25% reduction in staff
Interviews
Jul 9, 2025
Interviews
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Coin PricesPUMP.FUN TOKENOMICS, $HYPE, BONKGUY META
ETH leads crypto majors higher, BTC dominance falls. US House taking steps for US to be crypto capital. Sharplink to buy $20m ETH, stock pops 12%. GameSquare raises $8m to buy ETH, stock +60%. Bit Digital stock keeps pumping on ETH pivot. BioSig, StreamEx to tokenise commodities on SOL. Phantom intros perps powered by Hyperliquid. GMX faces $40m exploit. Tether reveals $8b gold stock pile in Swiss vault. Expect us to be largest BTC miner this year: Tether. OpenAI stock tokens backed by SPV: Robinhood. Aevo offers 1000x lev on tokenised stocks. DoJ charges OmegaPro founders with $650m fraud. Tether is a money launderer’s dream: The Economist. EIGEN announces 25% reduction in staff
Interviews
Jul 9, 2025
Interviews
Candid chats and deep dives with the biggest names in crypto.
