Michael Saylor has once again released Bitcoin Tracker information, potentially signaling additional BTC purchases.
Strategy founder Michael Saylor has once again shared updates on the company’s Bitcoin tracker, noting, “More orange than ever.” Following past patterns, the orange dots represent Strategy’s Bitcoin purchase records, and this move likely signals the firm will increase its BTC holdings. Strategy typically discloses changes to its Bitcoin position the day after such announcements.
24 minutes ago
Bitcoin OGs Move First Funds in 13 Years: 1,346 $BTC ($115M) Now Worth 479x Initial Investment
Two Bitcoin OGs who bought 1,346 $BTC($115M now) 13 years ago have moved 0.0005 $BTC ($43) after years of dormancy as a test transaction. They bought 1,346 $BTC ($240K at the time) 13 years ago at an average price of $178, and are now sitting on a 479x return.
24 minutes ago
Trump announces formation of Superintelligence Task Force
U.S. President Donald Trump posted that, following the historic White House Superintelligence Agreement, the world’s most prominent tech companies gathered to confirm their accountability to the American people. I am announcing the establishment of the Superintelligence Task Force (SIF), whose mandate is to coordinate relevant work across the federal government and ensure the U.S. maintains its global leadership in the superintelligence field. Many argue that superintelligence is more transformative than the Industrial Revolution and the internet, as it will safeguard the interests of all Americans and improve their daily lives. The Superintelligence Task Force will coordinate communication between the federal government and consumers, public interest groups, religious organizations, critical infrastructure providers, and superintelligence firms. It will be led by Director of National Intelligence Jay Clayton, Federal Trade Commission (FTC) Chair Andrew Ferguson, Under Secretary of Defense for Research and Engineering & Chief Technology Officer Emil Michael, and Office of Personnel Management Director Scott Cooper, and will report to the U.S. President (myself) and White House Chief of Staff Susie Wiles.
24 minutes ago
CZ Reveals in Latest Interview: He Was Detained in the Same Prison as SBF, One After the Other
According to a New York Times report, Binance founder CZ (Changpeng Zhao) stated in a recent interview that he was assigned to Lompoc II, a minimum-security prison in California, which later also held FTX founder Sam Bankman-Fried (SBF). Before reporting to the facility, CZ assembled a team of advisors who taught him the unwritten rules of prison politics. One advisor also communicated with other inmates, who agreed to help CZ adjust to prison life. In August 2024, CZ left Lompoc Prison and was transferred to a halfway house. However, due to issues with his immigration status, he had to spend his final two weeks in a local jail, passing the time in his cell by doing push-ups and sit-ups. On the day of his release, it took just 26 minutes from CZ being discharged from custody to his private plane taking off.
24 minutes ago
A whale withdrew 3,283.56 ETH from OKX, valued at approximately $8.85 million.
On-chain analyst Ai Yi (handle @ai_9684xtpa) has tracked that a whale, suspected of selling ETH at an average price of $2709 about a week ago, has built a new position at an average of $2695. Four hours ago, the whale withdrew 3283.56 ETH worth $8.85 million from OKX, a quantity far exceeding the 1099 ETH it deposited last time.
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PUMP breaks through $0.0063, hitting a new high since '1011'
According to HTX market data, PUMP has surged past $0.0063, currently trading at $0.006328, notching a new high since "1011", with a 24-hour gain of 14.67%.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Hyperliquid's most profitable traders are leaning bearish, creating a notable divergence between the platform's biggest winners and smaller wallet cohorts.
Is market about to reverse?According to the latest PnL positioning data, the "Money Printer" group, wallets with more than $1 million in profit, currently holds approximately $2.82 billion in long positions against $2.88 billion in shorts. That leaves the cohort with a modest net-short exposure of roughly $60 million and an overall bearish wallet bias.
Source: CoinglassThe positioning becomes more interesting when compared with every other PnL group. Traders with $100,000–$1 million in profits remain slightly bullish, carrying $879.11 million in longs against $419.12 million in shorts. The $10,000–$100,000 cohort is considerably more bullish, with $526.93 million long versus only $188.74 million short.
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Retail-sized wallets show a similar pattern. The $0–$10,000 profit cohort has nearly three times as much long exposure as short exposure: $240.83 million against $82.70 million. Even wallets sitting at a small overall loss are classified as very bullish.
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Hyperliquid's Money Printer cohort controls $5.70 billion in total positions, substantially more than any other group, but its long-short difference is tiny relative to that exposure. This is not an aggressive directional bet against the market. Instead, the data suggests that the most profitable traders have become considerably more cautious and may be hedging existing exposure or positioning for elevated downside risk.
Winners keep winningThe winners-versus-losers split also remains positive inside the cohort, with 216 winning positions against 160 losing ones. Therefore, the bearish long-short balance should not automatically be interpreted as whales expecting an immediate market collapse.
Still, the divergence matters. Smaller and moderately profitable Hyperliquid traders are overwhelmingly long, while the platform's highest-PnL cohort has crossed into net-short territory.
If that gap expands, it could become a much stronger warning that sophisticated traders expect the market's current bullish momentum to weaken.
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.
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.
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.
DWF Labs Partner: If Trump wins the midterm elections and distributes $5,000 to every adult, the crypto market may usher in a bull market.
DWF Labs Managing Partner Andrei Grachev stated that if Donald Trump wins the midterm elections and disburses $5,000 to every U.S. adult, the scale would reach 150% of the COVID-19 era’s "helicopter money" program. He noted that a portion of these funds would inevitably flow into the crypto market, potentially triggering a bull run comparable to the 2021 rally. However, Grachev warned that investors should take profits during such a rally, as a crisis could follow. Earlier reports had noted Trump’s renewed pledge: if Republicans secure control of both the House of Representatives and Senate in the midterms, he will issue a $5,000 "dividend" to every adult U.S. citizen. Based on an estimated 240 million U.S. adults, the plan would cost roughly $1.2 trillion, making it one of the largest economic stimulus measures in the U.S. since the COVID-19 pandemic.
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Hyperliquid has earned its first USDC reserve revenue of $14.58 million, with an annualized run rate of roughly $193 million at current scale.
Hyperdash co-founder Hans published a post noting that Hyperliquid’s AQAv2 mechanism has established a new revenue stream. On October 3, the AQAv2 treasury wallet completed its first payment of $14.58 million for the USDC reserves held by the trading platform over the prior 30 days. The funds will be allocated to an assistance fund for purchasing HYPE. Under the mechanism, after users bridge USDC to Hyperliquid, Circle mints the corresponding assets on HyperEVM, and charges fees on the treasury balance daily, with settlements occurring every 30 days. Coinbase and Circle each staked 500,000 HYPE; if payments are delayed, Coinbase could lose 2% of its staked amount per day. Hans added that Hyperliquid’s previous revenue was primarily derived from trading fees, while AQAv2 enables the platform to earn income directly from margin deposits themselves, regardless of whether the associated funds are used for trading. The first payment covers the period from August 26 to September 24, with an implied average rate of roughly 3.14%. At current scale, annualized revenue is estimated at approximately $193 million. From January 1 to September 30 this year, Hyperliquid’s open interest rose from $7.72 billion to $16.4 billion, and platform margin increased from $4.34 billion to $7.22 billion. Over the same period, perpetual contracts recorded around $2 trillion in total trading volume, generating $493.3 million in fees for the protocol, equivalent to roughly 2.46 basis points per dollar of trading volume. Using this year’s average trading speed and current AQAv2 rate, every $1 of margin contributes about 15.4 cents in annual revenue to the protocol, split into ~12.5 cents from trading fees and ~2.8 cents from AQAv2. Hans projected that under the baseline scenario of stablecoin volume growing 20% annually and Hyperliquid retaining its current ~8.7% market share, the protocol’s annual revenue could rise from the current ~$1.11 billion to $2.4 billion by the end of 2030.
10 minutes ago
Cronos Token Economy Proposal Passes: 228 Million CRO Burned, All Revenue From Ult and Cronos Launch to Be Allocated for Buyback and Burn
Cronos Network announced that two token economic proposals have been approved, with 228 million CRO from its community pool burned, bringing the total cumulative CRO burn to 428 million. Under the passed proposals, all future revenue from Ult and Cronos Launch will be allocated to repurchase CRO on the open market, which will then be burned monthly, and all related transaction hashes will be made public.
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A Bitcoin whale has placed a $10.27 million long bet on Bitcoin, targeting a rebound, at an average entry price of $84,918.9.
According to on-chain analyst Ai Yi (handle @ai_9684xtpa), address 0x799…15f4c opened its first position on Hyperliquid, betting on Bitcoin (BTC)’s rebound with 7x leverage. The address initiated a long position of 121.23 BTC in the early hours of today, with the position valued at approximately $10.27 million, an average entry price of $84,918.9, and is currently facing an unrealized loss of around $20,000.
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Ansem: PUMP can be valued using Layer 1 (L1) logic, and he is optimistic that pump.fun will emerge as a super app in this cycle.
Crypto trader Ansem noted that the market has not yet fully priced in pump.fun’s evolution into a Layer 1 (L1)-like underlying infrastructure, where other token-launching platforms could directly build in the future. Few are currently focused on the creator fee splits pump.fun pays to token creators: the ratio is nearly 1:1 relative to the platform’s revenue, meaning for every ~$500 million the platform generates, token creators receive roughly $500 million in creator fees after their tokens complete the bonding curve phase, giving teams strong incentives to build products on pump.fun. He believes this economic structure may be superior to that of traditional L1s, as pump.fun can collect fees from every layer of token-launching platforms and each token they issue. With the rollout of features like custom trading pairs and Callout Rewards, the market may gradually start valuing PUMP in a manner similar to Layer 1 assets. He also expressed strong optimism about the investment thesis that pump.fun will develop into a "super app" in this cycle.
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Whales accumulate $PUMP: netherlol buys 383.34M after 1 year, new wallet withdraws 189.22M from MEXC
Whales are buying $PUMP. "netherlol" bought 383.34M $PUMP ($2.4M) after more than a year. A newly created wallet, GnZqfY, withdrew 189.22M $PUMP ($1.18M) from #MEXC 7 hours ago.
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.
DWF Labs Partner: If Trump wins the midterm elections and distributes $5,000 to every adult, the crypto market may usher in a bull market.
DWF Labs Managing Partner Andrei Grachev stated that if Donald Trump wins the midterm elections and disburses $5,000 to every U.S. adult, the scale would reach 150% of the COVID-19 era’s "helicopter money" program. He noted that a portion of these funds would inevitably flow into the crypto market, potentially triggering a bull run comparable to the 2021 rally. However, Grachev warned that investors should take profits during such a rally, as a crisis could follow. Earlier reports had noted Trump’s renewed pledge: if Republicans secure control of both the House of Representatives and Senate in the midterms, he will issue a $5,000 "dividend" to every adult U.S. citizen. Based on an estimated 240 million U.S. adults, the plan would cost roughly $1.2 trillion, making it one of the largest economic stimulus measures in the U.S. since the COVID-19 pandemic.
10 minutes ago
Hyperliquid has earned its first USDC reserve revenue of $14.58 million, with an annualized run rate of roughly $193 million at current scale.
Hyperdash co-founder Hans published a post noting that Hyperliquid’s AQAv2 mechanism has established a new revenue stream. On October 3, the AQAv2 treasury wallet completed its first payment of $14.58 million for the USDC reserves held by the trading platform over the prior 30 days. The funds will be allocated to an assistance fund for purchasing HYPE. Under the mechanism, after users bridge USDC to Hyperliquid, Circle mints the corresponding assets on HyperEVM, and charges fees on the treasury balance daily, with settlements occurring every 30 days. Coinbase and Circle each staked 500,000 HYPE; if payments are delayed, Coinbase could lose 2% of its staked amount per day. Hans added that Hyperliquid’s previous revenue was primarily derived from trading fees, while AQAv2 enables the platform to earn income directly from margin deposits themselves, regardless of whether the associated funds are used for trading. The first payment covers the period from August 26 to September 24, with an implied average rate of roughly 3.14%. At current scale, annualized revenue is estimated at approximately $193 million. From January 1 to September 30 this year, Hyperliquid’s open interest rose from $7.72 billion to $16.4 billion, and platform margin increased from $4.34 billion to $7.22 billion. Over the same period, perpetual contracts recorded around $2 trillion in total trading volume, generating $493.3 million in fees for the protocol, equivalent to roughly 2.46 basis points per dollar of trading volume. Using this year’s average trading speed and current AQAv2 rate, every $1 of margin contributes about 15.4 cents in annual revenue to the protocol, split into ~12.5 cents from trading fees and ~2.8 cents from AQAv2. Hans projected that under the baseline scenario of stablecoin volume growing 20% annually and Hyperliquid retaining its current ~8.7% market share, the protocol’s annual revenue could rise from the current ~$1.11 billion to $2.4 billion by the end of 2030.
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Cronos Token Economy Proposal Passes: 228 Million CRO Burned, All Revenue From Ult and Cronos Launch to Be Allocated for Buyback and Burn
Cronos Network announced that two token economic proposals have been approved, with 228 million CRO from its community pool burned, bringing the total cumulative CRO burn to 428 million. Under the passed proposals, all future revenue from Ult and Cronos Launch will be allocated to repurchase CRO on the open market, which will then be burned monthly, and all related transaction hashes will be made public.
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A Bitcoin whale has placed a $10.27 million long bet on Bitcoin, targeting a rebound, at an average entry price of $84,918.9.
According to on-chain analyst Ai Yi (handle @ai_9684xtpa), address 0x799…15f4c opened its first position on Hyperliquid, betting on Bitcoin (BTC)’s rebound with 7x leverage. The address initiated a long position of 121.23 BTC in the early hours of today, with the position valued at approximately $10.27 million, an average entry price of $84,918.9, and is currently facing an unrealized loss of around $20,000.
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Ansem: PUMP can be valued using Layer 1 (L1) logic, and he is optimistic that pump.fun will emerge as a super app in this cycle.
Crypto trader Ansem noted that the market has not yet fully priced in pump.fun’s evolution into a Layer 1 (L1)-like underlying infrastructure, where other token-launching platforms could directly build in the future. Few are currently focused on the creator fee splits pump.fun pays to token creators: the ratio is nearly 1:1 relative to the platform’s revenue, meaning for every ~$500 million the platform generates, token creators receive roughly $500 million in creator fees after their tokens complete the bonding curve phase, giving teams strong incentives to build products on pump.fun. He believes this economic structure may be superior to that of traditional L1s, as pump.fun can collect fees from every layer of token-launching platforms and each token they issue. With the rollout of features like custom trading pairs and Callout Rewards, the market may gradually start valuing PUMP in a manner similar to Layer 1 assets. He also expressed strong optimism about the investment thesis that pump.fun will develop into a "super app" in this cycle.
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Whales accumulate $PUMP: netherlol buys 383.34M after 1 year, new wallet withdraws 189.22M from MEXC
Whales are buying $PUMP. "netherlol" bought 383.34M $PUMP ($2.4M) after more than a year. A newly created wallet, GnZqfY, withdrew 189.22M $PUMP ($1.18M) from #MEXC 7 hours ago.
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.
Hyperdash co-founder Hans published a post noting that Hyperliquid’s AQAv2 mechanism has established a new revenue stream. On October 3, the AQAv2 treasury wallet completed its first payment of $14.58 million for the USDC reserves held by the trading platform over the prior 30 days. The funds will be allocated to an assistance fund for purchasing HYPE. Under the mechanism, after users bridge USDC to Hyperliquid, Circle mints the corresponding assets on HyperEVM, and charges fees on the treasury balance daily, with settlements occurring every 30 days. Coinbase and Circle each staked 500,000 HYPE; if payments are delayed, Coinbase could lose 2% of its staked amount per day. Hans added that Hyperliquid’s previous revenue was primarily derived from trading fees, while AQAv2 enables the platform to earn income directly from margin deposits themselves, regardless of whether the associated funds are used for trading. The first payment covers the period from August 26 to September 24, with an implied average rate of roughly 3.14%. At current scale, annualized revenue is estimated at approximately $193 million. From January 1 to September 30 this year, Hyperliquid’s open interest rose from $7.72 billion to $16.4 billion, and platform margin increased from $4.34 billion to $7.22 billion. Over the same period, perpetual contracts recorded around $2 trillion in total trading volume, generating $493.3 million in fees for the protocol, equivalent to roughly 2.46 basis points per dollar of trading volume. Using this year’s average trading speed and current AQAv2 rate, every $1 of margin contributes about 15.4 cents in annual revenue to the protocol, split into ~12.5 cents from trading fees and ~2.8 cents from AQAv2. Hans projected that under the baseline scenario of stablecoin volume growing 20% annually and Hyperliquid retaining its current ~8.7% market share, the protocol’s annual revenue could rise from the current ~$1.11 billion to $2.4 billion by the end of 2030.
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Cronos Token Economy Proposal Passes: 228 Million CRO Burned, All Revenue From Ult and Cronos Launch to Be Allocated for Buyback and Burn
Cronos Network announced that two token economic proposals have been approved, with 228 million CRO from its community pool burned, bringing the total cumulative CRO burn to 428 million. Under the passed proposals, all future revenue from Ult and Cronos Launch will be allocated to repurchase CRO on the open market, which will then be burned monthly, and all related transaction hashes will be made public.
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A Bitcoin whale has placed a $10.27 million long bet on Bitcoin, targeting a rebound, at an average entry price of $84,918.9.
According to on-chain analyst Ai Yi (handle @ai_9684xtpa), address 0x799…15f4c opened its first position on Hyperliquid, betting on Bitcoin (BTC)’s rebound with 7x leverage. The address initiated a long position of 121.23 BTC in the early hours of today, with the position valued at approximately $10.27 million, an average entry price of $84,918.9, and is currently facing an unrealized loss of around $20,000.
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Ansem: PUMP can be valued using Layer 1 (L1) logic, and he is optimistic that pump.fun will emerge as a super app in this cycle.
Crypto trader Ansem noted that the market has not yet fully priced in pump.fun’s evolution into a Layer 1 (L1)-like underlying infrastructure, where other token-launching platforms could directly build in the future. Few are currently focused on the creator fee splits pump.fun pays to token creators: the ratio is nearly 1:1 relative to the platform’s revenue, meaning for every ~$500 million the platform generates, token creators receive roughly $500 million in creator fees after their tokens complete the bonding curve phase, giving teams strong incentives to build products on pump.fun. He believes this economic structure may be superior to that of traditional L1s, as pump.fun can collect fees from every layer of token-launching platforms and each token they issue. With the rollout of features like custom trading pairs and Callout Rewards, the market may gradually start valuing PUMP in a manner similar to Layer 1 assets. He also expressed strong optimism about the investment thesis that pump.fun will develop into a "super app" in this cycle.
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Whales accumulate $PUMP: netherlol buys 383.34M after 1 year, new wallet withdraws 189.22M from MEXC
Whales are buying $PUMP. "netherlol" bought 383.34M $PUMP ($2.4M) after more than a year. A newly created wallet, GnZqfY, withdrew 189.22M $PUMP ($1.18M) from #MEXC 7 hours ago.
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Two whales collectively purchased 572 million PUMP tokens, worth approximately $3.58 million.
According to Lookonchain monitoring, whale "netherlol" has repurchased 383.34 million PUMP tokens for approximately $2.4 million, marking its first purchase in over a year. Additionally, a newly created wallet GnZqfY withdrew 189.22 million PUMP tokens from MEXC 7 hours ago, valued at around $1.18 million.
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Aptos CEO denies rumors of a shutdown in the next six months, calling them "stupid rumors".
Addressing community rumors that Aptos will shut down its blockchain within the next six months, Aptos Labs co-founder and CEO Avery Ching publicly dismissed the claim as "a foolish rumor". The X account that originally shared the unsubstantiated claim did not provide official Aptos announcements, governance proposals, or other supporting documents. When pressed for evidence, the account stated the content was merely "hearsay" and urged caution in taking it seriously. Aptos’ current public governance records still show network upgrade proposals and executed mainnet feature updates, with no official plans to shut down the mainnet identified so far.
According to TradingBeats monitoring, Hyperliquid whale address 0x936c currently holds around 14.85 million PONS short positions, with a position value of approximately $6.26 million, 2x leverage, cumulative unrealized profit of roughly $2.12 million, and a holding return rate of about 50.6%. The address added roughly 1.09 million PONS short positions today. The mark price of Hyperliquid’s PONS perpetual contract is currently around $0.42, down approximately 21.3% over the past 24 hours.
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.
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.
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.
On Hyperliquid, the smart money with the largest unrealized profit from Ethereum (ETH) currently holds ETH long positions valued at $81.96 million, with an entry price of $2,134.45.
Most of the crypto market drifted lower into early October. However, Pump.fun (PUMP), Aave (AAVE), Worldcoin (WLD), and Sky (SKY) went the other way.
Santiment ties three of the rallies to project news, including token buybacks, Aave’s lending growth, and a Galaxy Digital development.
Why 4 Altcoins are RallyingTotal crypto market capitalization slipped only 0.30% over the past week, according to BeInCrypto Markets.
On Friday, Bitcoin saw a massive rally from $84,000 to $87,000, but crashed back to the early levels almost immediately. Market sentiment toward ETH and XRP turned negative as October began.
Meanwhile, AAVE posted 20% gains, including a 7% jump on Friday. This is largely due to the Aave protocol reaching the $1 billion milestone in user deposits.
4 Altcoins Rise Amid a Crypto Market Dip. Source: X/SantimentV4 also went live on Arc and Base in September. On Base, an Equities Hub lets eligible non-US users borrow USDC (USDC) against 7 Coinbase-tokenized US stocks.
Pump.fun also rallied 30% in a week, and it was largely due to the token’s supply cuts.
“Pump.fun is directing roughly half of net protocol revenue into PUMP buybacks and burns, with daily purchases topping $1M several times in late September,” the firm said.
Together with Hyperliquid, Pump.fun drove nearly 90% of the record $638 million in token buybacks, BeInCrypto reported in August.
Santiment tied SKY’s 14% weekly gain to rising institutional interest. Last month, Galaxy Digital said it had added $100 million of sUSDS, Sky’s yield-bearing savings token, to its treasury.
Galaxy also approved sUSDS as collateral across its institutional trading business and bought an undisclosed amount of SKY. Lastly, Worldcoin added 15% this week. Santiment did not tie that move to a specific catalyst.
Quant Gives Back Part of Its Clearing House Price RallySantiment named Quant (QNT) among the tokens that fell the hardest in early October. The altcoin dropped 7% on Friday, a move the firm attributed to profit-taking after a steep rally.
Since its late September high, QNT has declined over 32%. Despite this, it remains up 152% over 7 days at $252.55, BeInCrypto Markets data show.
Quant (QNT) 7-Day Price Performance. Source: BeInCrypto MarketsSantiment framed the red week as a test of traders’ appetite for early October dips. Next week’s performance will show whether the selloff continues or the market turns.
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Hyperliquid is about to start paying for HYPE buybacks with money that has nothing to do with how much anyone trades.
The first yield payment under the exchange’s AQAv2 framework, approximately $14.58 million in USDC, is pending transfer to the Hyperliquid Assistance Fund as of October 3, 2026. That lands close to the roughly $15 million the market had been anticipating. For a token whose buyback engine has always run on trading fees, this adds a second, quieter fuel line.
How the USDC yield machine works Under AQAv2, about 90% of the net yield generated on Hyperliquid’s USDC reserves gets routed to the Assistance Fund. The fund then uses that money to buy HYPE on the open market and burn it.
Yield began accruing on August 26, 2026. The payment now awaiting transfer covers that first stretch of accumulation.
Validators approved the framework on June 12, 2026, with 69.08% support.
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The plumbing involves two big names in the stablecoin world. Coinbase serves as the official USDC treasury deployer, while Circle handles technical deployments. The setup operates under a 1:9 technical-to-treasury balance requirement.
Current reserves are estimated between $5 billion and $6.7 billion. At prevailing yields of about 3%, that translates to projected annual buyback funding of $135–200 million from reserves alone.
Stacking on top of the fee machine Approximately 99% of Hyperliquid’s trading fees are funneled into the Assistance Fund. Estimates put annual trading fee buyback capacity at around $771 million.
Add the USDC yield and total annual buyback capacity is estimated to exceed $900 million.
The Assistance Fund has acquired approximately 45 million HYPE tokens for around $1.1 billion at lower prices. Cumulative burns have reached hundreds of millions of tokens since the coin’s debut in late 2024.
Background: why volume-independent revenue matters Hyperliquid is a decentralized perpetuals exchange running on its own Layer 1 blockchain. Perpetuals, or perps, are futures contracts with no expiry date, letting traders take leveraged positions indefinitely.
AQAv2 changes the equation slightly. Stablecoin deposits tend to stick around even when trading slows, because traders often keep collateral parked on the exchange between positions. Yield on those balances keeps flowing whether or not anyone is opening new trades.
What this means for HYPE holders and the perp market The framework leans on Coinbase and Circle as USDC deployment partners. That ties a piece of HYPE’s tokenomics to the operational health and policies of two centralized firms.
The 69.08% validator approval shows the plan had backing, but nearly a third did not support it. Future tweaks to the yield split or the buyback mechanics will face similar scrutiny.
The near-term item to watch is the actual transfer of the approximately $14.58 million payment to the Assistance Fund. Once it moves, the market gets its first concrete look at how much buying pressure the new mechanism can deliver in practice.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Hyperliquid, a perpetuals exchange and protocol, has received $14.6 million in USDC yield intended for HYPE token buybacks. This payment will be transferred to Hyperliquid’s Assistance Fund, which is designed to buy back and burn HYPE, enhancing the token’s value proposition. The yield stems from AQAv2, a mechanism that allocates about 90% of cost-adjusted USDC reserve yield on the platform to the fund, supplementing fee revenue. This additional financial backing could influence market sentiment, potentially supporting future price increases for the HYPE token.
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Key Takeaways The transfer of $14.6 million in USDC yield to Hyperliquid’s Assistance Fund suggests strong financial backing for HYPE buybacks. Market pricing indicates positive sentiment, reflected in the 68% YES probability for Hyperliquid reaching $100 by year-end 2026. The AQAv2 mechanism adds a recurring buyback source, which could be consistent with scenarios where the HYPE token’s value is supported. What to Watch Market participants will likely monitor Hyperliquid’s future financial updates and the fund’s buyback activities. The price movement of the HYPE token could be influenced by further announcements regarding partnerships or technological advancements. Observers should also watch for any developments that could affect the market’s current supportive stance towards the HYPE token reaching $100 by December 31, 2026.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 68% — — View market → January 1 2027 2.4% — — View market → January 1 2027 1.9% — — View market → January 1 2027 2.8% — — View market → January 1 2027 2.1% — — View market → January 1 2027 5.5% — — View market → January 1 2027 3.9% — — View market → January 1 2027 5.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 10.5% — — View market →
House Oversight and Government Reform Committee Chairman James Comer (R-Ky.) sent letters on September 29 to Hyperliquid Labs, Crypto.com and Aristotle Exchange, the company behind PredictIt, requesting documents on how each platform verifies users and detects trades placed on nonpublic information. The three companies have until October 13 to respond, widening a probe that began in May with Polymarket and Kalshi.
What the committee wants The letters seek know-your-customer and geographic-restriction policies, procedures for flagging and reporting suspicious trades, and records tied to event contracts on Federal Reserve decisions, elections and geopolitical outcomes. Comer framed the requests as a question of legal obligation, saying that “some bad actors have exploited the platforms to make thousands of dollars by placing bets based on nonpublic information,” and that the committee is examining whether the platforms are doing enough to prevent insider trading before it happens.
The $1.1 billion short The Hyperliquid letter centers on a trade Comer described as “precisely timed to a nonpublic government decision.” Citing an Investing.com analysis, the committee points to a leveraged short of about $1.1 billion across Bitcoin and Ether perpetual contracts opened roughly 30 hours before President Donald Trump announced China tariffs in October 2025, then closed shortly after for more than $150 million in profit. Comer wrote that the position was executed on a platform with “apparently no identity verification or mechanism to refer the responsible party to U.S. law enforcement,” and that it “mirrors a pattern of insider trading the Committee is investigating,” stopping short of alleging the trader held nonpublic information. Hyperliquid, which added HYPE staking earlier this year, had not publicly responded to the request.
A widening inquiry The expansion follows the committee’s May 22 letters to Polymarket and Kalshi, which have so far yielded nearly 1,000 documents and five briefings. The investigation gained urgency after the April indictment of Army Master Sergeant Gannon Ken Van Dyke, who prosecutors say used classified information about Operation Absolute Resolve, the U.S. operation that led to the capture of Venezuelan President Nicolás Maduro, to place Polymarket bets that returned more than $409,000. Comer’s letter to Crypto.com separately asks about trading by employees with access to confidential information and about the company’s North American derivatives business.
The requests do not allege wrongdoing by any platform. They mark the broadest congressional demand to date for prediction markets and crypto derivatives exchanges to document how they police traders who may act on inside knowledge, with the October 13 deadline giving the three companies roughly two weeks to respond.
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Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.
Key Takeaways Circle has formally requested the European Union relax stablecoin reserve mandates under MiCA, targeting the 30% to 60% banking deposit requirement. The Hyperliquid Policy Center advocates for perpetual futures to fall under MiFID II regulation rather than MiCA. According to Circle, just three stablecoins among the global top 30 currently comply with MiCA requirements. The European Central Bank has expressed support for reducing the mandatory bank deposit threshold for stablecoin providers. September 30 marked the deadline for submissions to the European Commission’s MiCA regulatory review consultation. Two prominent cryptocurrency organizations have formally petitioned European Union authorities to modify key provisions within the region’s digital asset regulatory framework. Circle and the Hyperliquid Policy Center submitted their proposals during the European Commission’s ongoing evaluation of the Markets in Crypto-Assets Regulation, commonly referred to as MiCA.
🇪🇺 We submitted feedback to the European Commission's MiCA Review Consultation
As the largest MiCA-regulated e-money token (EMT) issuer for both the dollar (@USDC) and the euro (EURC), and having been the first major global issuer to comply back in July 2024, @circle knows… pic.twitter.com/YvEME8czAr
— Patrick Hansen (@paddi_hansen) October 1, 2026
The submission window concluded on September 30, with numerous organizations filing their responses during the closing days of the deadline.
Circle, the issuer behind the USDC stablecoin, concentrated its feedback on regulatory requirements governing reserve holdings. The firm contends that existing regulations mandate excessive cash holdings within traditional banking institutions for stablecoin operators.
MiCA currently requires issuers to maintain a minimum of 30% of their reserves as bank deposits. This threshold escalates to 60% for stablecoins that receive a “significant” designation from the European Banking Authority.
Circle argues this framework amplifies vulnerability to banking sector instability. The company referenced its March 2023 incident, when USDC temporarily deviated from its dollar peg following the entrapment of $3.3 billion in reserves at the collapsed Silicon Valley Bank.
Circle Proposes Alternative Reserve Framework According to Circle’s analysis, merely three stablecoins within the world’s top 30 by market capitalization currently satisfy MiCA compliance standards. These are USDC, USDG, and EURC.
The company advocates for replacing the mandatory bank deposit minimum with a liquidity-focused alternative. Such an approach would emphasize the speed at which assets can be converted to cash rather than their storage location.
The European Central Bank has expressed alignment with this perspective. The institution has suggested that a designated portion of reserves should reach maturity within one to five business days as an alternative to bank deposit requirements.
Circle further urged the EU to preserve multi-issuance practices. This mechanism enables a MiCA-authorized entity to operate a stablecoin in conjunction with an international affiliate under unified global branding.
The firm cautioned that eliminating multi-issuance authorization could redirect users toward non-EU stablecoins operating beyond European regulatory jurisdiction. Circle referenced the Commission’s 2020 evaluation, which identified this identical risk.
Circle also petitioned regulators to eliminate two specific technical restrictions. The first limits reserve exposure to any single government to 35%. The second restricts exposure to individual banks to 1.5% of that institution’s total assets.
Hyperliquid Challenges Perpetual Futures Classification The Hyperliquid Policy Center submitted an independent response addressing perpetual futures contracts, commonly known as perps. The organization advocates for classifying these instruments under MiFID II, the EU’s established derivatives regulatory structure implemented in 2014.
The center maintains that perpetual futures should be evaluated based on their economic characteristics rather than the underlying blockchain technology. It asserts that existing MiFID II classifications adequately accommodate these products without requiring additional legislative measures.
The organization additionally requested that EU authorities refrain from applying contracts-for-difference regulations to perpetual futures. It emphasized fundamental differences between the products, noting that perps operate through transparent order books rather than single-counterparty arrangements.
Additional industry participants also contributed to the regulatory review. Deutsche Börse Group recommended establishing a distinct category for stablecoins utilized in settlement infrastructure. Chamber of Progress endorsed preserving multi-issuance authorization and permitting interest distributions on e-money tokens.
The European Commission has not yet announced a schedule for subsequent actions following the consultation review.
Key Highlights HYPE maintained a range between $88.45 and $89.87, retreating from its late September high of $97.88. The Hyperliquid Policy Center formally requested EU authorities classify perpetual futures under existing MiFID II derivatives regulations. The token’s daily RSI registered 52.58, indicating reduced buying pressure following the previous month’s rally. Real-world asset trading activity on Hyperliquid declined from $37.5 billion to $8 billion over seven days, while platform fees continued their upward trend. Market watchers noted a $4.96 million HYPE acquisition by Grayscale ETF according to social media reports. The HYPE token from Hyperliquid settled around $88.45 on October 1, marking a 2.74% decline during the trading session. This positioned the asset approximately 9.6% beneath its recent $97.88 high water mark.
Hyperliquid (HYPE) Price The modest correction coincided with regulatory engagement from the Hyperliquid Policy Center (HPC), which formally petitioned European authorities. Their proposal advocates for perpetual futures contracts to receive classification under current derivatives frameworks instead of establishing separate crypto-specific categories.
The HPC’s position emphasizes that financial instruments should maintain their regulatory status regardless of whether they operate on traditional infrastructure or blockchain technology. This submission forms part of the European Commission’s ongoing evaluation of the Markets in Crypto-Assets Regulation framework.
Chart Analysis Reveals Key Support And Resistance Zones Market data from TradingView indicated HYPE reached an intraday peak of $91.10 before declining to a session low of $88.12. The token concluded trading closer to the lower boundary of this range.
Source: TradingView Analysis of the 4-hour Bollinger Bands revealed an upper channel at $90.95 with the lower band positioned at $84.84. This technical structure places immediate resistance near the session’s highest point.
Breaking above the $91 threshold could establish momentum toward the $92-$95 zone, potentially setting up a retest of the $97.88 peak. Conversely, failure to hold the $87.89 midpoint support might trigger selling pressure toward $84.84, with $81.29 representing the next significant support level.
The daily Relative Strength Index stood at 52.58, positioned above neutral territory but trailing its moving average of 61.17. This configuration suggests moderating momentum compared to the strong gains recorded during August and September.
Market commentary from Whale Insider on X highlighted institutional accumulation patterns. The analyst reported that clients of Grayscale ETF products acquired $4.96 million in HYPE tokens, representing additional demand from regulated investment vehicles.
Platform Functionality Grows With Lending And Market Expansion Plans On September 18, Hyperliquid introduced manual borrowing capabilities to its platform. The feature enables users to borrow USDC and USDT stablecoins using eligible collateral, with total borrowing reaching $269 million since implementation.
Manual borrows are live on Hyperliquid
Portfolio margin and manual borrows use the same underlying HyperCore infrastructure, with $269M in assets borrowed today.
Users can supply HYPE and BTC as collateral to borrow quote assets (USDC and USDT). Borrowed quote assets pay… pic.twitter.com/C3crESxaM0
— Hyperliquid (@HyperliquidX) September 18, 2026
Payward, the corporate entity behind Kraken, announced on September 16 its intention to offer Hyperliquid perpetual contracts to United States customers. Implementation remains contingent on securing necessary regulatory permissions, with Bitnomial handling market operations and NinjaTrader Clearing managing client account infrastructure.
Trading activity in real-world asset markets on Hyperliquid experienced significant contraction, dropping from $37.5 billion in late July to $8 billion in the most recent week, based on HyperScreener analytics. Despite the volume decrease, open interest remained robust at $3.9 billion, sitting only 9.3% below its historical maximum.
Platform revenue metrics from DeFi Llama demonstrated continued growth, with Hyperliquid network fees climbing to $72 million during the previous month, representing a 7.5% month-over-month increase.
Broader cryptocurrency markets received support from September 30 inflation data showing moderate price pressures. The Core PCE Price Index advanced just 0.2% in August, undershooting economist projections and reducing market expectations for an October Federal Reserve rate increase from approximately 50% to 37%.
Among the ten largest cryptocurrencies by market capitalization, Hyperliquid continues leading performance metrics with a remarkable 270% year-to-date appreciation.
Hyperliquid Pushes for MiFID II Classification of PerpetualsThe Hyperliquid Policy Center (@HyperliquidX), a Washington-based group , has submitted a formal response to the European Commission's review of the Markets in Crypto-Assets Regulation (MiCA). and puts forward a clear position: crypto perpetual futures belong under MiFID II, not MiCA.
In practice, that means onchain perpetual futures should be treated as derivatives under the EU's existing MiFID II framework,
The center also pushed back on any move to classify perpetual futures alongside contracts for difference (CFDs).
On transparency, It also noted that
Circle Warns MiCA Leaves Most Stablecoins Outside the TentCircle, the issuer of $USDC, filed a separate submission during the same consultation window, raising concerns about MiCA's limited reach across global stablecoin markets.
Circle also targeted MiCA's reserve rules directly. Circle argues this structure increases exposure to banking sector risk, a concern the company knows well:
, moves it says would bring more of the global stablecoin market within a regulated perimeter without requiring issuers to restructure entirely around European licensing. , giving Circle at least partial backing from within EU institutions.
Both submissions form part of a broader industry push to reshape how the EU's landmark crypto rulebook evolves in its next phase.
Sources:
The Block: Hyperliquid Policy Center, Circle press EU on perps and stablecoin reserves in MiCA review
CoinMarketCap: Hyperliquid Policy Group Urges EU To Classify Perpetuals Under MiFID
CoinGape: Circle Urges EU to Change MiCA Rules, Says Only 3 of Top 30 Stablecoins Comply
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.
Crypto custody firm Copper has launched an institutional trading service for Hyperliquid perpetual contracts, allowing clients to trade via API and platform interface while holding assets in its non-custodial MPC infrastructure. Copper noted that assets in this integration are stored in Copper Vaults, with its strategy engine implementing operational controls expected by institutional users: multi-authorization workflows, granular permission controls, and full audit trails. The integration supports institutional trading strategies and adopts the same governance framework used for centralized exchange trading via ClearLoop.
According to TradingBeats monitoring, Hyperliquid whale address 0x15a4, labeled by the platform as "BTC’s largest long position holder", currently holds 1,000 BTC long positions with a 40x full-leverage position. Its average entry price is approximately $62,400, generating an unrealized profit of around $24.3 million, translating to a position return of roughly 1,560%. The marked price of BTC perpetual contracts on Hyperliquid is currently reported at $86,600, up about 3.8% in the past 24 hours.
Hyperliquid’s native token is no longer confined to its home chain. Through Wormhole, HYPE can now be transferred to Solana, Base, and Unichain.
How the multichain rollout works Hyperliquid is a Layer 1 blockchain designed for on-chain perpetual futures and spot trading. Its multichain push relies on Wormhole’s Native Token Transfers standard, usually shortened to NTT.
The expansion kicked off on September 3, 2025, alongside the Unichain rollout. That launch also brought bridging to Solana and Base, so all three destinations arrived in the same wave.
Unichain’s debut came with liquidity incentives attached. Those rewards targeted the USDC/HYPE and USDC/SOL trading pairs.
The stated goal is to reduce liquidity fragmentation. Hyperliquid also wants HYPE holders to enjoy lower fees and faster transactions on the chains they prefer.
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What the trading data shows Activity has followed the token to its new homes. Trading in HYPE has shown up on Jupiter, Solana’s major trading venue, and in Uniswap pools on Unichain.
On Solana, HYPE has recorded daily trading volumes in the millions. The tokenized value of the Wormhole-issued version on Solana has reached approximately $66 million.
HYPE has traded at around $90, a level the research tied to strong adoption.
HYPE has a maximum supply of 1 billion, with circulating supply in the low hundreds of millions. At launch, 310 million tokens went to early users. There was no allocation for a private sale.
Following the initial rollout, activity settled into a pattern of steady use and liquidity provisioning. No major new developments were identified in the month leading up to October 2, 2026.
Why Hyperliquid built for speed first The engine underneath all this is HyperCore, Hyperliquid’s trading layer. It can process up to 200,000 orders per second, which is the kind of throughput on-chain order books need to feel competitive.
What this means for HYPE holders and the broader DeFi map Traders and liquidity providers on Solana, Base, and Unichain can now engage with HYPE without leaving their preferred ecosystems.
Each destination brings something different. Solana offers an established trading culture, with Jupiter already showing HYPE volume. Unichain came with incentives designed to bootstrap activity from the start.
The roughly $66 million tokenized on Solana is a useful baseline for tracking whether interest grows, holds, or fades.
Cross-chain infrastructure also adds a dependency. HYPE’s reach beyond its home chain now relies on Wormhole functioning as intended.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
According to Hyperliquid HIP-3 auction information, two new assets—GLW and GDX—were added on October 1, with a total of 1107.25 HYPE paid. Details: GLW corresponds to Corning, deployed by TradeXYZ, with contract code xyz. Its auction took place at 14:41 on October 1, with a transaction fee of 545.97 HYPE. GDX corresponds to the VanEck Gold Miners ETF, also deployed by TradeXYZ, with contract code xyz:GDX, and its transaction fee amounted to 561.28 HYPE.
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According to TradingBeats monitoring, Hyperliquid whale address 0x77ee currently holds around 10.23 million WLD long positions, with a 10x full position, an average entry price of approximately $0.35, cumulative unrealized profit of roughly $2.34 million, and a position return rate of about 655%. The address has held these WLD long positions since late May, with a holding period exceeding four months. The mark price of WLD perpetual contracts on Hyperliquid is currently reported at $0.58, up roughly 15.2% in the past 24 hours.
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.
According to relevant information, Hyperliquid is expected to receive its first AQAv2 reserve revenue allocation tomorrow (October 3). Approximately $14.5 million in passive income generated from the USDC reserve will flow into the Assistance Fund to be used for HYPE repurchases.
According to monitoring by Onchain Lens, Hyperliquid yesterday repurchased and burned 20,210 HYPE tokens at a volume-weighted average price (VWAP) of $89.05, totaling roughly $1.8 million. As of press time, Hyperliquid has cumulatively burned 49.09 million HYPE tokens, valued at approximately $4.29 billion, accounting for 4.91% of its maximum supply. The protocol’s revenue over the past 30 days stood at $55.89 million.
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Aave founder responds: The module in question is a third-party external adapter, not the Aave v3 contract that was affected.
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Hyperliquid’s derivatives platform has seen a sharp rise in activity, with open interest (OI) recovering to approximately $8.5 billion. This marks a significant rebound from recent lows of $3–$4 billion, indicating renewed leverage and heightened trading activity across the protocol.
Derivatives Market Nears Peak Open InterestHyperliquid, a decentralized derivatives exchange, has recorded a notable resurgence in open interest on its markets. According to Hyperliquid Daily, the platform’s current OI stands at about $8.5 billion, approaching 85% of its all-time high near $10 billion set in July 2025.
The climb in open interest reflects increased trader participation and risk appetite, as the value of outstanding derivatives positions continues to grow. This rise follows a period when OI fell to the $3–$4 billion range, suggesting that the market has regained significant traction after a recent contraction.
BTC and ETH continue to make up the largest share of OI on Hyperliquid, but other assets, most notably the native HYPE token, have also played a role in the recovery.
Open interest is considered a critical metric, as it tracks the total value of active derivatives contracts and offers insights into market leverage and participation.
Hyperliquid’s platform allows traders to engage in perpetual contracts and other advanced derivatives, often with high leverage. The return of high OI is seen as a signal of growing confidence and liquidity in the protocol.
Mini dictionary: Hyperliquid is a decentralized cryptocurrency derivatives exchange that enables users to trade perpetual contracts with high leverage, operating without a central intermediary.
PeriodOpen InterestJuly 2025 Peak~$10 billionRecent Lows$3–$4 billionCurrent$8.5 billionHyperliquid’s open interest has climbed back to $8.5 billion, nearing its previous highs and indicating a return of trader engagement and leverage on the platform.
HYPE Token Eyes Key Resistance Amid Technical RepetitionAttention has also turned to the HYPE token, whose price structure appears to be following a recurring technical pattern noticed by analysts. This pattern consists of a period of consolidation, followed by an upward surge, and then another consolidation phase.
Master of Crypto, a well-known market analyst, has highlighted this setup and identified the $98–$100 price region as a potential next target for HYPE if the pattern continues.
A repeating cycle—consolidation, pump, and renewed consolidation—has defined recent HYPE price moves, with analysts pointing to $98–$100 as the next critical zone if current momentum holds.
This outlook remains conditional upon the token maintaining both its technical structure and positive momentum. Any breakdown in support or a shift in market positioning could render the pattern invalid.
The connection between HYPE’s technical profile and the broader derivatives activity on Hyperliquid adds further context, as open interest recovery often aligns with renewed speculation and price action in native platform tokens.
Analysts underscore the importance of monitoring both price movements and derivatives data to confirm or challenge the prevailing technical pattern. Sustained open interest growth could create new opportunities or risks for traders focused on HYPE.
BTC and ETH Drive Market ActivityBTC and ETH remain dominant on Hyperliquid, accounting for the largest share of open interest. Their movements often influence trading activity across the platform, serving as bellwethers for broader sentiment and positioning.
Continued strength in these leading assets may encourage further risk-taking, while reversals could translate into volatility for tokens like HYPE and the exchange’s derivatives markets overall.
Market watchers are closely observing whether Hyperliquid’s open interest will surpass the previous $10 billion milestone and how HYPE’s price action evolves relative to identified technical targets.
Kinetiq, a liquid staking protocol built on the Hyperliquid ecosystem, has concluded its kPoints loyalty program and opened KNTQ token subscriptions. Point holders can purchase their allocated KNTQ tokens at a price of $0.26 per unit within 10 days. This round’s subscription quota is 50 million KNTQ tokens; if fully sold, it is expected to raise approximately $13 million. Following the announcement, KNTQ’s price dropped by around 23%. Kinetiq previously built its user base through the kPoints points mechanism, and is now offering token access to point holders via paid subscriptions.
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Aave founder responds: The module in question is a third-party external adapter, not the Aave v3 contract that was affected.
In response to SlowMist’s report that a Safe module used in Aave v3’s loop strategy was exploited, causing losses of roughly 114.09 ETH (about $310,000), Aave founder Stani Kulechov said the incident was not an attack on the Aave v3 contract itself. Kulechov noted the involved module is a third-party external adapter built on top of Aave v3, adding the event had no impact on Aave v3 itself. Earlier BlockBeats reports indicated the Aave v3 Loop Safe module was attacked, with the attacker exploiting an access control flaw in the FlashLoopAdapter’s open()/close() functions. The hacker stole approximately 114.09 ETH from two Safe multi-sig addresses by forging Safe authentication and executing arbitrary modules, then repaid around 1,300 WETH in debt to unlock collateral.
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CryptoQuant analyst Darkfost wrote in a post that large crypto whales holding significant capital are increasing the volume of stablecoin transfers to Binance. Data shows that the 30-day cumulative inflow from whale addresses sending over $1 million in stablecoins per transaction has risen from $21.7 billion to $30.5 billion, a more than 40% increase compared to over a month ago. Typically, stablecoin inflows to exchanges signal that funds are positioning for market moves, so the rise in whale stablecoin inflows may be tied to potential buying pressure. Data indicates that whale stablecoin inflows previously hit a peak of over $61 billion in October before a prolonged decline. Recently, as structural trends in Bitcoin have shifted, whale capital behavior has begun to adjust, though they remain cautious. Darkfost noted that current whale capital deployment is influenced by multiple factors, including market expectations for the "October rally" and macroeconomic factors such as conflicts, inflationary pressures, and rising bond yields.
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Glassnode: Bitcoin's sell wall above $85,000 has disappeared, potentially paving the way for further gains.
According to Glassnode’s monitoring, the sell-side liquidity wall above Bitcoin (BTC) has vanished. Buyers broke through the sell order wall near $85,000 yesterday, a level that had withstood multiple tests over nearly a week without being breached. Glassnode noted that remaining sell orders now appear to have been withdrawn, reducing sell-side liquidity above BTC, which could create more room for further price gains.
22 minutes ago
US media: Trump once asked Grok about arresting Maduro and considered its performance "excellent".
U.S. Time magazine released a lengthy report on Donald Trump on October 1. The report noted that Trump has grown increasingly fascinated by artificial intelligence capabilities since returning to the White House. Last December, Elon Musk secretly returned to the White House Oval Office to meet with Trump, during which Trump spent hours posing questions about his presidential tenure and political legacy to Musk’s AI chatbot Grok. Trump also asked Grok how Venezuelan citizens would react if the U.S. arrested Nicolás Maduro. Grok replied that Maduro was deeply unpopular in Venezuela, with many Venezuelans likely to celebrate his downfall. The following month, Trump ordered the operation to arrest Maduro, and celebrations subsequently erupted on Venezuelan streets. Multiple officials disclosed that this incident led Trump to view Grok’s performance as excellent. (Jinshi)
22 minutes ago
Dolphin (POD) surges over 130% in a short time following its listing on Upbit.
According to GMGN market data, Dolphin (POD) has rallied over 130% following its listing on Upbit, currently trading at $0.682 with a market cap of roughly $338 million. Notably, the token’s 24-hour trading volume is just $3.1 million. Earlier, BlockBeats reported that South Korean exchange Upbit announced it would add support for Dolphin (POD) trading, opening pairs in KRW, BTC, and USDT. BlockBeats Note: Meme coins exhibit extreme volatility, largely driven by market sentiment and conceptual hype rather than tangible value or use cases. Investors should be mindful of the associated risks.
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In the past hour, global crypto liquidations reached $121 million, with short positions making up the bulk of the liquidations.
According to Coinglass data, as Bitcoin surges past $86,000, it has climbed 1.35% over the past hour, with total liquidations across the crypto network hitting $121 million in the same period—including $2.55 million in long position liquidations and $119 million in short position liquidations.
Zcash (ZEC): ZEC's explosive recovery remains bullish, but overbought conditions and resistance around $1,450–$1,500 raise the risk of a deeper pullback.Ethereum (ETH): ETH is testing a major breakout area near $2,800, with the broader recovery intact but confirmation still needed above resistance.Hyperliquid (HYPE): HYPE remains in a strong uptrend, though persistent overbought conditions and resistance near $100 increase the probability of consolidation or a correction.Stellar (XLM): XLM remains stuck in a low-conviction range and likely needs a strong catalyst or broader altcoin momentum to break above $0.24–$0.25.Zcash recovery is explodingZcash's drop to $450 created a foundation for those looking to accumulate. The reversal since late August has been explosive: $450 to $1,750 in just six weeks. This 289% rally reflects a sharp re-rating, likely tied to privacy-coin demand cycles or renewed interest in Zcash's technical upgrades.
ZEC/USDT Chart by TradingViewHowever, ZEC now trades near the September peak with RSI deep in overbought territory (75+), creating a critical inflection point. The October pullback from $1,750 to $1,400 shows profit-taking and resistance. Buyers must overcome the $1,450–$1,500 zone to sustain the rally; failure suggests a deeper correction toward $1,200 or the 100-day moving average.
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ZEC's 40-month chart history shows limited price discovery above $1,400; this is uncharted territory. Volume may thin on further advances, reducing conviction. The asset is highly speculative, privacy coins face regulatory scrutiny in some jurisdictions, and sentiment can reverse sharply.
If ZEC breaks $1,500 on volume, $1,800+ is plausible given the momentum structure. A sustained close above the moving average stack would confirm a fresh higher-low pattern. Network activity, adoption metrics, or positive regulatory signals could reignite the move.
Can Ethereum secure the breakout?Ethereum's trajectory mirrors a classic bear-to-bull transition: June's plunge to $2,650 and August's lows at $1,750 represent a 34% washout. The subsequent rally to $2,800 in early October erased most losses, but current consolidation at $2,700 signals profit-taking and resistance testing.
ETH/USDT Chart by TradingViewThe long-term downtrend line (black) from June, visible across the entire chart, represents a critical psychological barrier. ETH has now tested and held near this line in September–October, suggesting institutional accumulation beneath resistance. The moving-average stack is clean and bullish, with price respecting support from the 100-day MA.
Volume during the August–October recovery was moderate but consistent, lacking the explosive spikes seen in ZEC; this suggests an institutional rather than retail-driven recovery.
Current setup: ETH trades within $100 of its October peak, facing overhead resistance. RSI is overbought (70+) but not extreme. The asset is torn between two narratives: (1) completing a V-shaped recovery from the August lows, or (2) consolidating ahead of a deeper structural pullback.
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A weekly close above $2,800 on volume targets $2,900–$3,000, potentially breaking the June downtrend decisively. Ethereum's fundamentals (Dencun upgrade, Shanghai scaling, staking rewards) support long-term accumulation.
ETH is consolidating sideways at $2,650-$2,750 before testing $2,500-$2,550, where the 200-day MA provides support. This is a lower-risk entry zone for buyers with conviction.
ETH's recovery is constructive but incomplete. Current levels represent fair value; accumulate on weakness into $2,500 rather than chasing resistance.
Hyperliquid crosses into overbought territoryHyperliquid's journey from $40 (June) to $90 (October) represents a 125% appreciation in just four months—classic new-token momentum. The move accelerated sharply in September and early October, with a spike attempt to $98 before pulling back to the current level of $90. This compression near recent highs signals profit-taking and resistance testing at psychological levels.
HYPE/USDT Chart by TradingViewThe technical picture is structurally bullish: moving averages stack cleanly (black, orange, blue, cyan) with price above all of them, indicating institutional entry and sustained accumulation. Volume bars show decisive conviction on breakout candles; consolidation phases are tight and orderly.
However, RSI has remained overbought (70-75) for extended periods, creating a warning flag. New-token rallies often show elevated RSI for weeks without correcting, but mean reversion eventually arrives. The October pullback from $98 to $88 is modest (10%) but may be the first crack in momentum.
$98–$100 is the immediate overhead hurdle. A break above $100 targets $110–$120 as technical extensions. Failure to reclaim $98 risks consolidation or a pullback to $80–$85.
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If HYPE breaks $100 on volume, the move is likely to continue toward $120+. Liquidity and derivatives adoption drive these protocol tokens; protocol growth justifies valuations.
Overbought RSI combined with new-token volatility suggests a 15-20% pullback to $75-$80 is plausible. Entry at lower levels offers a better risk/reward ratio.
HYPE is in a strong uptrend but now trades at peak euphoria. New buyers should wait for consolidation or a pullback; existing holders should consider taking profits into strength.
XLM needs a catalystStellar's six-month trajectory is decidedly pedestrian: June's $0.27 peak declined steadily through July–August to lows of $0.16, a 41% drawdown. The September–October recovery to $0.21–$0.22 reclaimed 30% of losses but remains far from the highs. Current consolidation between $0.20–$0.22 suggests the market is undecided on direction.
XLM/USDT Chart by TradingViewThe technical setup lacks conviction. Moving averages are compressed and neutral—no clean bullish or bearish stack—indicating a sideways market with no dominant trend. Volume is notably weak relative to HYPE or major altcoins; thin volume makes breakouts suspect and prone to false signals. The low-liquidity environment means large market buys can spike prices artificially, while small sellers can trigger cascade liquidations.
Key levels: $0.24-$0.25 is overhead resistance (retest of August highs). Below that, $0.19–$0.20 provides support; a break below $0.19 opens $0.15–$0.16 as deeper support.
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XLM requires a catalyst, network upgrade announcements, Stellar Development Foundation initiatives, or a broader altcoin rally—to break higher. If macro conditions turn positive (crypto bull sentiment), thin volume works in XLM's favor; a 20% upside move to $0.26–$0.27 is possible with minimal buying pressure.
Without a catalyst, XLM is likely to consolidate indefinitely between $0.18-$0.24. Institutional capital gravitates toward higher-liquidity, higher-conviction assets; XLM's stagnation reflects reduced relevance in current market cycles.
XLM is a "wait-and-see" position. Current levels offer no attractive entry; patience for either a breakdown to $0.16–$0.18 or a catalyst-driven breakout above $0.24 is prudent. Low volume makes this a poor trading vehicle until conviction returns.
Major altcoins are encountering critical resistance zones, with buyers weighing the prospects of breakouts against mounting overbought signals. Zcash (ZEC), Ethereum (ETH), Hyperliquid (HYPE), and Stellar (XLM) each show distinct technical profiles, shaping trader sentiment in the current altcoin cycle.
Zcash tests resistance as overbought levels persistZcash, a privacy-focused cryptocurrency, is trading near its September peak, with the Relative Strength Index (RSI) surpassing 75, indicating overbought conditions. The coin recently reversed from $1,750 down to $1,400, highlighting profit-taking and resistance in this area.
ZEC must close above the $1,450–$1,500 range to extend its rally, or risk a deeper correction toward $1,200 and the 100-day moving average.
If ZEC crosses $1,500 on strong trading volume, a push above $1,800 is plausible. Sustained moves above the cluster of moving averages could confirm the coin is forming a new higher-low. Analysts suggest renewed network activity or favorable regulation may provide the next catalyst for a rally.
Key ZEC LevelsSupport/Resistance$1,200 (100-day MA)Support$1,450–$1,500Resistance$1,800+Target if resistance breaksEthereum forms critical breakout patternEthereum is consolidating near a significant breakout area, with price oscillating between $2,650 and $2,800. Following a 34% drop to $1,750 in August, ETH rallied back to $2,800 in early October, regaining most of its losses. The coin is currently seeing profit-taking, with RSI above 70 but short of extreme readings.
The long-term downtrend line from June acts as a psychological barrier, while institutional buying appears to have occurred beneath resistance. The moving averages are in a bullish configuration, supported by steady trading volumes during the recovery phase.
Ethereum’s fundamentals—such as the Dencun upgrade, Shanghai scaling enhancements, and staking rewards—continue to support long-term accumulation, even as resistance at $2,800 remains a hurdle.
A weekly close above $2,800 could open the way to $2,900–$3,000, potentially ending the multimonth downtrend. Meanwhile, ETH is consolidating between $2,650–$2,750, with the 200-day moving average near $2,500–$2,550 offering further support. Many traders are watching these areas as potential entry zones.
Hyperliquid maintains uptrend despite overbought signsHyperliquid (HYPE), a protocol token launched earlier in the year, surged from $40 in June to $90 in October, a gain of 125%. This sharp rise accelerated with a move to $98, before pulling back to $90. The uptrend remains intact, underpinned by stacked moving averages and strong breakout volumes.
RSI has traveled above 70–75 for a prolonged period, typically a sign of overheating. Recent pullbacks from $98 to $88, however, have been limited, and structural momentum continues to drive price action.
Immediate resistance lies at $98–$100. If HYPE crosses $100 convincingly, the next upside targets are $110–$120. Failure to reclaim recent highs could see a pullback toward $80–$85 as mean reversion unfolds.
New buyers are advised to await a correction, while existing holders may consider securing profits as volatility increases.
Mini dictionary: Hyperliquid – Hyperliquid is a decentralized derivatives trading protocol specializing in perpetual contracts, enabling users to trade crypto assets with high leverage and reduced counterparty risk.
Stellar stalls in quiet rangeStellar (XLM), a blockchain-based payment network, has trended sideways, failing to break above $0.24–$0.25. The coin recovered from $0.16 lows in September–October to $0.21–$0.22 but trades below the June peak of $0.27, showing a lack of commitment from buyers.
Moving averages are bunched up and neutral, indicating a lack of trend conviction. Volume remains weak, increasing the risk of unstable price swings, as thin liquidity can amplify the effects of even small trades. Key levels include overhead resistance at $0.24–$0.25 and support around $0.19–$0.20. A breakdown below $0.19 could expose further downside to $0.15–$0.16.
Stellar’s price action suggests that a clear catalyst is needed—potentially a protocol upgrade, new initiatives from the Stellar Development Foundation, or a broader rally across altcoins. Until momentum improves, institutional investors are likely to focus on higher-liquidity assets, leaving XLM in a holding pattern.
Without a decisive catalyst, XLM is expected to remain range-bound and sees little conviction from either buyers or sellers in the current market environment.
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.
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The Hyperliquid Policy Committee has taken its lobbying show to Brussels. On October 1, 2026, the group filed its first formal submission with the European Commission, answering a consultation on how the Markets in Crypto-Assets (MiCA) framework should evolve.
The pitch is refreshingly unglamorous. Don’t write new laws, the committee argues. Use the ones Europe already has.
What the committee actually asked for The centerpiece of the filing concerns on-chain perpetual contracts, better known as perps. These are derivatives that let traders bet on an asset’s price without an expiry date. The HPC wants them brought under MiFID II, the EU’s existing rulebook for financial instruments and trading venues.
Bolting perps onto MiFID II, rather than drafting fresh legislation, is the committee’s preferred route. It also suggests the European Securities and Markets Authority (ESMA) issue guidance on how MiFID II should apply to these products.
Two principles anchor the argument: technology neutrality and economic substance. Put simply, regulators should judge a product by what it does, not by whether it runs on a blockchain or a bank server.
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That framing matters because of what the HPC wants to avoid. Europe already places restrictions on retail access to contracts for difference, or CFDs. These are leveraged products where a trader bets on price moves, typically with a market maker on the other side of the trade.
The committee says on-chain perps work differently. They run on a public central limit order book, where buyers and sellers are matched openly rather than trading against a dealer. Because of that structural gap, the HPC argues CFD-style retail curbs should not automatically carry over to on-chain perps.
The reporting argument The filing also targets paperwork. The HPC is pushing to cut duplicate reporting obligations for data that already lives on public blockchains.
Its logic is straightforward. Public chains are open and verifiable by design, so asking firms to separately report information anyone can already inspect looks redundant.
Why the timing matters The submission lands a few months after a key MiCA deadline. The framework’s transitional period ended on July 1, 2026.
That cutoff raised the possibility of regulatory gaps for on-chain derivatives. MiCA was built largely around crypto assets and service providers, and products like perps sit awkwardly between crypto rules and traditional securities law.
The HPC’s proposal is essentially a way to close that gap without waiting years for a new legislative process. MiFID II already exists, already has supervisors, and already covers derivatives. The committee is asking Brussels to stretch it rather than start over.
Who is the Hyperliquid Policy Committee The HPC was set up in February 2026 and is funded by the Hyperliquid Foundation. It serves as the policy arm of the Hyperliquid ecosystem, which centers on decentralized trading.
Until now, its advocacy work had focused on the United States. The European filing marks its first policy submission outside the US.
The funding structure is worth keeping in mind. A policy body backed by a trading ecosystem’s foundation is, unsurprisingly, arguing for rules that would make on-chain trading easier to offer in Europe.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
New functionality enables institutions to trade Hyperliquid perpetuals through Copper's APIs and in-platform interface, building on existing HyperCore and HyperEVM custody and cross-chain support.
, /PRNewswire/ -- Copper, a global builder of blockchain-based infrastructure for secure and efficient collateral mobility, today announced that its platform will support trading access in Hyperliquid's perpetuals markets, enabling institutions to execute at scale with the security and operational controls they require.
Hyperliquid is the clear leader in on-chain derivatives trading, handling more than half of all decentralised perpetuals volume and around 8% of open interest across both centralised and on-chain venues. However, until now, institutions accessing Hyperliquid natively have had to rely on third-party interfaces outside the institutional security environment, introducing key management and operational risks that limit the ability to engage at scale. Copper's new integration provides a robust and secure trading interface solution for Hyperliquid, designed for institutions. Through Copper, financial institutions can now manage their trading across Hyperliquid and more than 30 centralised exchanges through a single platform.
Elin Cherry, Co-CEO of Copper said,"Hyperliquid has demonstrated the demand for perpetuals and continuous price discovery. Markets don't stop moving because it's the weekend, and being able to respond to information as it emerges is ultimately a better way to manage risk. As institutional participation grows, the infrastructure supporting these markets needs to keep pace. Copper provides institutions with custody, collateral mobility, and operational controls, enabling access to Hyperliquid at scale."
Trading through Copper's dedicated APIs or in-platform UI gives institutions access to Hyperliquid's on-chain liquidity while keeping underlying assets secure and fully available to support trading on other venues as well. Access to the Hyperliquid ecosystem, including a trading interface built by Copper, within the Copper Platform. Assets remain secured in Copper's non-custodial MPC infrastructure, and Copper's Policy Engine applies the operational controls institutions require, including multi-authorisation workflows, granular permissions, and full audit trails. Through Copper's interface, institutions can manage their trading strategies with the same governance they rely on in traditional trading venues. Alongside Hyperliquid crypto-perpetuals, the interface also offers access to certain instruments offered by tradeXYZ, a HIP-3 deployer, giving institutions access to instruments referencing equities, commodities and indices within the same secure, governed environment.
The Hyperliquid integration further extends Copper's infrastructure for institutions to trade and manage risk across increasingly continuous, global markets. From the Copper Platform, clients can manage their Hyperliquid activity alongside trading across ClearLoop-connected venues and more than 30 integrated exchanges, reducing the operational complexity of managing collateral across separate trading environments. ClearLoop, Copper's shared settlement and collateral connectivity layer connecting custodians, prime brokers, trading venues and post-trade infrastructure providers, enables institutions to manage and mobilize collateral across connected markets. More than $240bn in notional perpetual trading volume was supported by collateral protected by ClearLoop in Q1 2026, up 100%+ year on year.
The launch comes as demand for perpetuals grows and capital markets move towards longer and increasingly continuous trading hours, creating new infrastructure requirements for institutional participants. Copper has built its global proposition around that shift, connecting custody, collateral management and settlement to enable capital to move when markets move. The announcement also comes on the heels of Copper becoming a member of the Financial Industry Regulatory Authority (FINRA), establishing Copper's presence in the United States' capital market.
To learn more, visit https://copper.co/en-us.
Available exclusively to institutional and professional clients of Copper, subject to applicable onboarding and eligibility requirements. Not available to persons subject to the laws of jurisdictions where such services may not be lawfully provided, including the United States and other restricted jurisdictions.
Elin Cherry is available for interviews upon request
About Copper:
Founded in 2018, Copper is shaping the future of markets by building blockchain-based infrastructure that enables institutions to move and deploy capital more efficiently. At the heart of Copper's products is the ClearLoop Network, a blockchain-based collateral mobility platform that connects derivative market participants, providing real-time visibility into pledged margin and automating margin movements between counterparties on a 24/7/365 basis. Copper operates across key global markets through entities with jurisdiction-specific regulatory and registration statuses, including Copper Markets (Switzerland) AG, which holds a VQF registration in Switzerland and Copper Markets U.S., a registered broker-dealer with the SEC and a FINRA member firm.
Media Contact:
For media inquiries, please contact [email protected].
Hyperliquid Policy Center has urged European regulators to keep perpetual futures under existing derivatives rules. The group wants product features, rather than blockchain technology, to determine their regulatory treatment.
HPC Backs MiFID II Rules for Perpetual Futures Hyperliquid Policy Center submitted its position during the European Commission’s review of the Markets in Crypto-Assets Regulation. HPC argued that financial instruments on public blockchains should not be excluded from MiFID II.
The group stated that the use of blockchain should not be the sole criterion for triggering MiCA for a financial product. Existing European Securities and Markets Authority guidelines already consider economic features when classifying financial instruments.
HPC applied the same argument to perpetual futures, which have no fixed expiration date. The group has stated these contracts have key characteristics with other derivatives regulated under MiFID II.
HPC is seeking confirmation of this treatment via existing ESMA guidelines. This would prevent the establishment of a new separate regulatory category for crypto-linked perpetual contracts, the group said.
Public Blockchains Could Support Regulatory Records HPC also requested the regulators to consider public blockchain records to fulfil existing transparency requirements. Trades, funding payments, orders and liquidations are recorded on the public networks for independent verification.
MiFID II requires firms to maintain records and provide information about trading activity. HPC stated that regulators might consider using verifiable onchain information when considering compliance with those requirements.
The group also desires that the rules should accurately reflect the actual role of each participant and the risks involved. HPC suggested that rates of funding, margin rules, reference prices and position closing rules should be disclosed.
HPC argued that perpetual futures are not contracts for difference, or CFDs. Perpetuals are usually traded on order books, while CFD providers can deal directly with customers as counterparties.
Hyperliquid Expands Its Onchain Market Infrastructure The policy submission coincides with Hyperliquid growing its trading infrastructure. Manual borrowing went live on September 18, enabling users to borrow USDC and USDT using supported collateral.
Total borrowing has since reached $269 million. The feature uses the same HyperCore infrastructure that supports Hyperliquid’s portfolio margin system and other onchain trading functions.
Hyperliquid has also added HIP-3 functionality for permissioned markets. Deployment teams can manage onchain allowlists, which deployers or designated sub-deployers can use to control access to the market.
HPC also asked European regulators to preserve access to global liquidity. Its submission called for existing financial rules to govern regulated products regardless of the blockchain used.
For more options in self-custodial markets, traders can compare top-tier venues in our guide to the best crypto futures trading platforms.
Hyperliquid’s HYPE traded near $88.45 on Oct. 1, down 2.74% on the daily chart, as Hyperliquid Policy Center pressed European regulators to classify perpetual futures under existing derivatives rules.
Summary
Hyperliquid price traded near $88.45, roughly 9.6% below the $97.88 peak marked on its daily chart. Daily RSI stood at 52.58, below its moving average of 61.17. The 4-hour Bollinger Bands placed nearby technical levels at $87.89, $84.84 and $90.95. HPC urged European regulators to classify perpetual futures by their economic features rather than blockchain use. The token remained below its recent $97.88 peak, with the 4-hour chart placing the next nearby resistance around $90.95.
Hyperliquid faces resistance near $91 TradingView’s KuCoin HYPE/USDT daily chart showed a session high of $91.105 and a low of $88.119. The price stood near the lower end of that range after retreating from the late-September peak.
HYPE’s latest decline followed a recovery from roughly $85 on the 4-hour chart. That rebound carried the token back above $90 before selling pushed it toward $88.46, leaving the recovery below the recent trading area around $92–$95.
The 4-hour Bollinger Bands showed an upper boundary of $90.946, a midpoint of $87.894, and a lower boundary of $84.843. The upper band closely matched the daily high, placing the first resistance zone around $90.95–$91.11.
Hyperliquid price 4-hour chart — Oct. 1 | Source: TradingView A sustained move above that zone would put the recent $92–$95 trading area back in focus. Beyond it, the daily chart’s marked high of $97.876 remains the next major reference, followed by the round-number $100 level.
At $88.45, HYPE would need to gain roughly 10.7% to revisit $97.88. The chart therefore places an initial resistance test near $91 before any attempt to recover the full decline from the peak.
Daily momentum cools as $87.89 becomes the first support test The daily relative strength index stood at 52.58, above the neutral 50 level but below its moving average of 61.17. Earlier readings had reached the overbought area during the advance, while the latest reading showed weaker momentum after the pullback.
Hyperliquid price daily chart — Oct. 1 | Source: TradingView The daily Aroon panel showed Aroon Up at 42.86% and Aroon Down at 0%. The declining Up reading reflected the increasing distance from the recent high, while the Down reading remained at zero.
On the 4-hour chart, HYPE traded only about 0.6% above the Bollinger midpoint at $87.89. Holding that level would preserve the rebound above the indicator’s 20-period average; a move below it would bring the lower band near $84.84 into focus.
The daily Fibonacci overlay placed the next lower reference at $81.287, its 0.786 level. That area sits roughly 8.1% below $88.45 and near a zone HYPE traded through repeatedly during its August and September advance.
Below $81.29, the September trough around $76–$78 provides another visible reference. The daily overlay’s next Fibonacci level lies farther down at $68.264.
The 4-hour average directional index read 25.55 and had fallen from its late-September readings. ADX measures trend strength rather than direction, so the latest reading does not establish an upward breakout. The price remains between the nearby $87.89 midpoint and resistance around $91.
HPC seeks derivatives treatment for perpetual futures Hyperliquid Policy Center submitted its position during the European Commission’s review of the Markets in Crypto-Assets Regulation. The group argued that a financial instrument should retain its treatment under MiFID II when issued or traded on a public blockchain.
HPC wants regulators to classify products by their economic features. Its submission argued that perpetual futures share characteristics with derivatives already covered by MiFID II, despite having no fixed expiry date.
The group asked for confirmation through existing European Securities and Markets Authority guidelines rather than a separate category for crypto-linked perpetual contracts. It also called for rules that preserve access to global liquidity.
HPC’s argument distinguishes order-book perpetuals from contracts for difference, whose providers can act directly as customers’ counterparties. ESMA’s current position requires firms to assess the actual product: in February, the regulator said derivatives marketed as perpetual futures were likely to fall within existing CFD intervention measures where they meet the CFD definition. Those measures include leverage limits, margin close-out requirements and negative balance protection.
HPC also proposed using independently verifiable blockchain records to meet transparency obligations. Its recommendations covered trades, funding payments, orders and liquidations, alongside disclosures of funding rates, margin requirements, reference prices and position-closing rules.
Borrowing expansion accompanies plans for US markets Hyperliquid launched manual borrowing on Sep. 18, allowing users to borrow USDC and USDT against supported collateral. The platform reported $269 million borrowed across the underlying infrastructure, which also supports its portfolio margin system.
Permissioned HIP-3 markets add access controls through onchain allowlists managed by deployers or designated sub-deployers.
A US proposal uses that structure. Payward, Kraken’s parent company, announced on Sep. 16 that it intended to deploy Hyperliquid perpetual markets for US clients, subject to regulatory approval. Its plan assigns market operation and clearing to Bitnomial, with NinjaTrader Clearing carrying client accounts; trading would require inclusion on both firms’ allowlists.
For HYPE’s price, the immediate technical thresholds remain closer: $90.95–$91.11 overhead and $87.89 below. A break above resistance would reopen the route toward $95 and $97.88, while a loss of the midpoint would shift attention toward $84.84 and $81.29.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The Hyperliquid Policy Center (HPC) wants the European Commission to treat crypto perpetual futures as derivatives under MiFID II, the EU's existing rulebook for financial instruments first passed in 2014, rather than bring them under the Markets in Crypto-Assets Regulation, or MiCA.
HPC urged the Commission as such in its response to the Commission's MiCA review, which opened on May 20. The EU's executive body later pushed the deadline from Aug. 31 to Sept. 30, and several crypto and banking firms filed responses in the last few days of the submission period.
"The Consultation arrives at a defining moment for financial markets, as public blockchains now serve as infrastructure for markets
that trade continuously and in substantial volume, and regulators in several jurisdictions are working through how regulated products can use them," HPC wrote in its response. "We believe the existing EU frameworks can accommodate onchain products and markets through targeted action without a wholesale revision of their rules."
USDC issuer Circle used its submission to the same MiCA review to go after the regulation's stablecoin reserve rules.
"Of the top 25 stablecoins globally by market capitalisation, only three are currently MiCA-regulated (USDC, USDG, EURC)," Circle wrote in a blog post describing its submission. "This suggests the current gap is not in the supply of new regulated issuers, but in MiCA's perimeter capturing the largest global tokens, and in EU-issued [e-money token issuers] growing at global scale."
HPC wants perpetual futures regulated under MiFID II The Washington-based HPC was set up in February and funded with 1 million HYPE tokens, then worth about $29 million, from the Hyperliquid Foundation. Its blog post describing the response says the EU response is its first filing outside the U.S.
The filing's first point: The classification of financial instruments "should follow the economic features of an instrument, and the ledger on which it is recorded should not be determinative," HPC CEO Jake Chervinsky wrote in the letter, dated Sept. 30. In other words, perpetual futures ("perps") should be regulated under MiFID II, even though they generally run on onchain trading venues.
The group argues MiFID II's Annex I derivative categories already capture perps, so no new law is needed. "Clarity in application, rather than new legislation, is what would assist in regulating perpetual futures," HPC wrote.
HPC also doesn't want perps lumped in with contracts for difference, or CFDs, which ESMA restricted for retail traders in 2018. With a CFD, "the provider profits when its client loses," the filing said, while on a perps order book, the trading venue isn't itself the counterparty.
HPC asked the Commission to require that trading venues publish funding methodologies, maintenance margins and liquidation thresholds ahead of time. The group also wants the Commission to confirm that putting a regulated product on a public blockchain doesn't, by itself, change the product's classification.
The filing points to Hyperliquid's own HIP-3 markets as an example. A regulated firm "can build a market on that infrastructure," set leverage limits and restrict access through an onchain allowlist, then "offer that market to its clients as a regulated product," HPC wrote.
HIP-3 volume (red) as compared to Hyperliquid's overall perps volume (blue) via The Block At one point in late July, HIP-3 markets accounted for 75% of Hyperliquid's overall trading volume, per The Block's data, though that number has since fallen to roughly a quarter of the overall volume in recent weeks.
Back in August, HPC made a similar pitch to the SEC and CFTC to classify perpetual contracts by economic structure.
"The product category has been commercially dormant for many years, though U.S. exchanges returned to it this summer, and its framework will need modernization for new product structures," HPC wrote at the time.
Circle wants looser reserve rules Circle (CRCL) has issued its dollar-pegged stablecoin (USDC) and its euro-pegged EURC in the EU through its French entity since July 2024, and calls itself the largest e-money token (EMT) issuer authorized under MiCA. Patrick Hansen, Circle's director of EU strategy and policy, laid out the company's submission in a Thursday blog post.
Circle declined to share the full filing with The Block. "We'll let the blog speak for itself," Greg Vadala, Circle's senior director of global corporate communications, said in an email.
Circle's main target is MiCA's bank deposit floor. Right now, EMT issuers have to keep at least 30% of their reserves in commercial bank deposits, and 60% if the European Banking Authority deems the token "significant," a label reserved for the largest coins.
That rule "increases exposure to the credit and counterparty risk of the banking sector," Circle wrote. Circle knows that risk firsthand: USDC briefly lost its $1 peg in March 2023 after the company disclosed $3.3 billion of its roughly $40 billion in reserves was sitting at Silicon Valley Bank, which had just gone under.
Here, Circle has the European Central Bank on its side. The ECB and the national central banks that make up the European System of Central Banks also called for scrapping the deposit minimums in their response, proposing instead that a set share of reserves mature within one and five working days. Circle wrote that it "concur[s] with the ECB" that the floor should give way to a "less rigid minimum asset liquidity requirement."
Circle also wants two limits from the EBA's technical standards (the detailed rules written to implement MiCA) thrown out. One caps exposure to any single government at 35% of reserves, which Circle said makes it "impossible" for dollar-denominated tokens to hold mostly sovereign debt like U.S. Treasurys.
The other caps an issuer's exposure to any one bank at 1.5% of that bank's total assets. Under that limit, big issuers would need reserve relationships with "dozens of separate banks," per Circle.
Circle's other priority is protecting multi-issuance, where a MiCA-authorized EU entity and a foreign-regulated affiliate co-issue the same global stablecoin. According to Circle, that's currently the only way tokens like USDC can operate inside MiCA at all.
"Restricting multi-issuance would simply relocate that usage outside the EU's regulatory perimeter," Circle wrote, pointing to the Commission's own 2020 impact assessment for MiCA. Per Circle, that assessment warned a ban on foreign stablecoins would send EU users to offshore providers without MiCA's protections.
The ESCB, meanwhile, said in its response that MiCA needs "legal clarification" on whether third-country multi-issuer schemes are permissible in the first place.
Other responses German exchange operator Deutsche Börse Group filed on Sept. 29. It proposed a separate category for "settlement EMTs" used as the cash leg in regulated settlement systems, warning that "settlement fails can cascade." Earlier this year, Deutsche Börse announced a $200 million strategic investment into Payward, the parent company of the exchange Kraken.
Tech industry group Chamber of Progress filed on Sept. 30. It said consumers should be able to earn rewards on e-money tokens, which MiCA's interest ban currently restricts, and backed keeping multi-issuance with enforceable EU redemption rights.
Robinhood unveiled Robinhood Agents at HOOD Summit 2026 in Houston. The in-app AI agents can analyze markets, build strategies, and trade on a customer’s behalf.
The product is coming soon to eligible US customers. It is Robinhood’s first in-house agent, after months of letting outside AI tools trade on its platform.
Robinhood AI Agents Build on a May LaunchRobinhood CEO Vlad Tenev presented the product as a response to how customers already trade.
“I think increasingly, customers and traders are integrating AI into their strategies… We wanted to make that easier,”
The company first opened its platform to external AI agents on May 27, according to TechCrunch. Those agents connected through the Model Context Protocol (MCP), a standard that links AI tools to outside apps.
Support began with stocks and later extended to crypto. However, agents cannot transfer, stake, or lend digital assets, as BeInCrypto noted when covering Robinhood’s Bitcoin trading costs.
How the New Agents WorkSetting up an agent takes three steps. Customers name it, open a dedicated agentic trading account, and connect an AI model.
OpenAI’s GPT-Luna model is free to use through December 31, per Robinhood’s announcement. Tenev also confirmed that users can switch off trade approvals entirely.
“By default, we have trade approvals… Now, some customers would prefer to turn that off to trade it fully autonomously in a loop. And we do enable that.”
A feature called Loops, still in development, will take that autonomy further.
OpportunityRiskAutomationStrategies can run continuously, including overnightLoops can place, modify, or cancel trades without per-trade approvalAccessRetail users get algorithmic tools once limited to professionalsCustomers bear all trading losses, and Robinhood does not monitor or audit agentsControlApprovals are on by default, and agents cannot touch the main account balanceTurning off a Loop does not reverse trades it already placedChoiceModels from several AI labs plus 11 paid Agent Apps data toolsUsers accept the risk of third-party AI providers handling their dataDemand and stability150,000+ agentic accounts since May and about 30 million tool uses a dayBank of England Deputy Governor Sarah Breeden warned that similar agents could amplify volatility in stressAgentic Trading on Robinhood, Opportunities and RisksCalls for Stricter AI Agent ControlsIndustry calls for tighter controls are growing. Dell Technologies CEO Michael Dell recently argued that AI agents need hard limits built into their design.
Research has also flagged agent misbehavior in market-style tests. One review found some Chinese AI models lied in 88% of tests during simulated tenders. Neither case involved Robinhood’s product.
Crypto Perpetuals and 24/7 Stocks Also AnnouncedRobinhood also plans US perpetual futures, which are derivatives contracts with no expiry date. They will cover Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), and Hyperliquid (HYPE).
Leverage will reach 10x on BTC and ETH and 3x on the rest. Robinhood Derivatives will offer the contracts through Bitstamp in the coming months.
Separately, some US stocks will trade 24/7 from early 2027, pending regulatory review. Robinhood has not said whether its agents will trade perpetuals.
The real test may come once Loops goes live. Unattended agents will show whether default safeguards hold up in volatile markets.
Hyperliquid Labs is unstaking 3.75 million HYPE tokens today, worth about $329 million, and says the whole batch is going to one institutional buyer.
The tokens are the October payout to Hyperliquid’s team. Co-founder iliensinc disclosed the plan on the project’s Discord server on Wednesday.
Hyperliquid Unlock Goes to a Private BuyerHyperliquid is a blockchain built around a futures trading exchange. Its token, Hyperliquid (HYPE), trades at $90, up nearly 5% today.
Unstaking means pulling tokens out of a lock where they earn rewards. On Hyperliquid, that takes seven days, according to its documentation.
OTC, or over-the-counter, is a private deal between two parties. It skips the exchange order book, where large sell orders can drag prices down.
Will the Unlock Impact HYPE Price?The deal could limit the immediate impact on HYPE’s price. Because the 3.75 million tokens are changing hands through an OTC transaction, they do not need to be sold through public order books.
The batch equals roughly 1.5% of HYPE’s current circulating supply. So, an equivalent open-market sale could create significant sell pressure.
Past unlocks have also produced mixed results. Tokenomics data show HYPE fell as much as 3% within 14 days of its August unlock and 7% after July, while the June unlock was followed by a 1% gain.
This suggests an unlock alone does not determine the price reaction.
The Hyperliquid team must be so busy with planning the events going on next week that they are late with unstaking the team allocation for October.@Hypurr, you up?
— steven.hl (@_stevenhl) September 29, 2026 For October, the bigger risk comes after the institutional buyer receives the tokens. With no publicly disclosed lock-up period, the 3.75 million HYPE could still reach exchanges later.
If the buyer holds or restakes the tokens instead, the immediate increase in sell-side supply would remain limited.
HYPE Crypto Token Unlock in September. Source: TokenomistThe post did not name the institution or the price it paid. It also did not say whether the buyer must hold the tokens for a set period.
Once the tokens reach the buyer after October 7, public blockchain records will show where they go next. Transfers to exchange wallets, where coins are usually sent before a sale, would put that supply within reach of the open market.
Most top traders on Hyperliquid are betting against the market. On NEAR, that bet has been expensive.
The largest NEAR short on the platform is sitting on roughly $13 million in unrealized losses. The largest long is up $17.35 million.
The two whales at the top of the board As of September 30, 2026, the top NEAR short carried a notional value of approximately $22.78 million. It was using 3x leverage and showed unrealized losses of about $12.83 million.
The biggest bull tells the opposite story. The leading long had a notional value of approximately $30.87 million on 10x leverage, according to the research data. Its unrealized gains were estimated between $17.13 million and $17.55 million.
The squeeze on bears goes beyond a single wallet. Two addresses, 0xfe7c… and 0xdd53…, together held about 4.31 million NEAR in short positions. As of September 27, their combined unrealized losses exceeded $25 million, with each facing losses above $12 million.
What drove the move The pain for shorts traces back to one number: price. NEAR climbed from the low-$2 range to approximately $5.37-$5.39 over the course of September.
Activity followed the price. NEAR perpetual open interest reached approximately $345 million during the September 23-30 period.
Hyperliquid’s rollout of NEAR/USDC spot markets coincided with a notable pickup in trading activity, and the resulting conditions rewarded traders positioned on the long side.
Shorts outnumber, longs outweigh Across Hyperliquid as a whole, whale data showed a net short bias, with shorts accounting for 53.33% of open notional.
Among NEAR whales specifically, longs totaled $80.43 million against $59.16 million in shorts. So while many of the platform’s top traders lean bearish, the heaviest money on NEAR is leaning the other way.
Background: why Hyperliquid positioning gets watched Hyperliquid is a venue for perpetual futures, which are derivatives that let traders bet on price without an expiry date. Positions and wallet addresses on the platform can be tracked publicly, which is why whale moves there attract so much attention.
The addition of spot NEAR/USDC trading gave the token another avenue on the platform. According to the research data, that development helped fuel the surge in activity seen through September.
What this means for traders The most immediate risk sits with the shorts. Positions carrying losses of $12 million or more are under real pressure, and new shorts were still being opened in real time as of late September.
The top long runs 10x leverage, which means even a modest pullback from the $5.37-$5.39 range could erase a meaningful chunk of those paper gains.
The $345 million in open interest is the figure to watch. Elevated open interest, alongside elevated funding conditions, tends to set the stage for volatility, because many participants are leveraged in both directions at once.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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.
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Near Protocol (NEAR): NEAR remains strongly bullish above $5.00, but its extended momentum increases correction risk unless it breaks $5.40-$5.50.Hyperliquid (HYPE): HYPE is correcting after its September rally, with $85-$86 acting as the key support needed to preserve the broader uptrend.Ethereum (ETH): ETH is consolidating constructively around $2,700, with a breakout above $2,800 potentially opening the way toward $3,000.XRP (XRP): XRP maintains an improved bullish structure above $1.50, while clearing $1.55-$1.65 remains necessary for further upside.Near Protocol isn't giving upNear Protocol continues to show one of the strongest momentum structures among major altcoins, with the token trading around $5.27 after briefly reaching approximately $5.47. The latest advance extends a dramatic September rally that has lifted NEAR by well over 100% from its August trading range.
NEAR/USDT Chart by TradingViewThe fundamental backdrop has also strengthened. The launch of Bitwise's spot NEAR ETF on NYSE Arca on September 29 has provided another catalyst for the move, while growing activity around NEAR Intents and the network's AI-focused narrative continue to attract attention.
Technically, however, NEAR is becoming extremely extended. Price has moved almost vertically from the $2.40-$2.60 region and now trades far above every major moving average shown on the daily chart. The short-term moving average has climbed toward $3.80, while the longer averages remain considerably lower. This separation confirms the strength of the trend, but also increases the probability of violent corrections.
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It remains close to the 70-75 region, after spending considerable time in overbought territory during the rally. Importantly, NEAR has nevertheless continued producing higher highs and higher lows, meaning there is no confirmed trend reversal yet.
The immediate resistance sits around $5.40-$5.50, where several recent candles have encountered selling pressure. A convincing daily close above this area would remove the latest local ceiling and potentially expose $6.00 as the next psychological target.
Hyperliquid backs downHyperliquid has entered a meaningful correction after its September rally pushed the token toward $97-$98. HYPE is currently trading around $86.14, placing it almost 12% below the recent peak and directly around an important short-term support area.
HYPE/USDT Chart by TradingViewThe broader trend remains constructive. HYPE's September breakout carried the asset from roughly $57 to almost $100, while price continues to trade above its medium- and long-term moving averages. Hyperliquid has also retained substantial fundamental activity as one of the largest decentralized perpetual-futures venues, although recent reports point to large-holder selling as an additional source of short-term pressure.
The immediate problem is momentum. After reaching the $97 region, HYPE failed to attack the psychologically important $100 level and instead produced a sequence of lower highs. The latest daily candles have pushed price through $90 and toward the rising short-term moving average around $85-$86.
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RSI has simultaneously fallen toward the neutral area after previously approaching overbought territory. That cooling is not necessarily bearish by itself: it removes some of the excess accumulated during the rally. However, buyers now need to defend the current region.
HYPE therefore remains inside a broader uptrend, but unlike NEAR, its immediate momentum has turned corrective. The reaction around $85-$86 should determine whether the current decline develops into a deeper retracement or simply resets momentum after September's expansion.
Is Ethereum consolidation over?Ethereum is consolidating around $2,700 after one of its strongest upward moves in months. ETH currently trades near $2,702, having recently reached approximately $2,800 before encountering resistance. Despite the rejection, the daily chart continues to show a substantially stronger structure than during the summer.
ETH/USDT Chart by TradingViewThe key change occurred when ETH escaped the prolonged $1,850-$1,950 consolidation. The breakout produced an almost immediate move through $2,200, followed by another expansion toward $2,500. Importantly, volume increased sharply during these advances, giving the breakout considerably more confirmation than the relatively low-volume trading that preceded it.
Ethereum has since established another range between approximately $2,650 and $2,800. That consolidation is significant because sellers have so far failed to force ETH back into its previous $2,400-$2,500 trading area.
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Momentum also remains relatively healthy. RSI has cooled from overbought levels and currently sits around the upper-50s to low-60s. Instead of collapsing alongside RSI, ETH has maintained most of its gains. This suggests momentum has reset without a corresponding breakdown in price structure.
For another expansion, Ethereum needs to reclaim $2,750-$2,800. A daily close above $2,800 would establish a new local high and potentially open the path toward the psychological $3,000 level.
Conversely, losing $2,650 would expose $2,600 and potentially the stronger $2,450-$2,500 support area. For now, however, ETH's consolidation resembles a pause following the breakout rather than a confirmed reversal.
XRP's direction changes substantiallyXRP is trading around $1.52 following a volatile September that completely changed its medium-term technical structure. After spending August close to $1.00, XRP exploded toward $1.55, corrected toward $1.30 and subsequently recovered to a September high around $1.65.
XRP/USDT Chart by TradingViewOne of the most important developments is the break above the descending resistance line formed after the initial September spike. XRP spent several weeks producing lower highs beneath that trendline before breaking through it during the latest advance. Price has remained above the former resistance despite pulling back from $1.65.
The moving-average structure has improved substantially as well. XRP now trades above every major average displayed on the daily chart. The fastest moving average has risen toward $1.44, while the medium-term averages cluster around $1.35-$1.38. That creates several layers of support below the current market price.
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RSI sits around the mid-50s after previously moving into overbought territory during the initial September breakout. This is broadly neutral: XRP no longer carries extreme momentum, but RSI also does not indicate significant bearish pressure.
The immediate battle is around $1.50. XRP has repeatedly tested this region during recent sessions, making it an increasingly important short-term pivot. Holding above it would preserve the possibility of another attempt at $1.55-$1.60, followed by the recent $1.65 high.
The bearish scenario begins with a sustained loss of $1.50. That could send XRP toward $1.44-$1.45, followed by the stronger $1.35-$1.40 region. XRP therefore retains a bullish broader structure, but unlike the initial September surge, the next leg higher requires buyers to prove they can defend $1.50 and overcome the substantial supply accumulated between $1.55 and $1.65.
A wave of technical shifts and volatility is reshaping the outlook for several prominent cryptocurrencies, including Near Protocol (NEAR), Hyperliquid (HYPE), Ethereum (ETH), and XRP. With each asset approaching critical resistance and support regions, traders face turning points that could define trends into the next quarter.
Near Protocol: The rally faces resistanceNear Protocol continues to display one of the strongest upside structures among large-cap tokens, currently trading close to $5.27 after spiking to nearly $5.47. The sustained advance since August, which has seen NEAR more than double in price, is supported by increased attention on NEAR’s artificial intelligence narrative and ecosystem developments. The launch of Bitwise’s spot NEAR ETF on NYSE Arca on September 29 has also amplified institutional interest.
However, NEAR’s technical profile signals caution. The price now sits far above all the key moving averages, with short-term metrics rising toward $3.80 while longer-term averages trail well behind. This separation points to intense momentum but also magnifies correction risk should buyers falter near immediate resistance between $5.40 and $5.50.
Mini dictionary: Bitwise is a leading crypto asset management firm offering spot ETFs and index products; NYSE Arca is a major US-based electronic securities exchange.
Relative strength index (RSI) remains elevated in the 70–75 range after extended overbought conditions during the rally. So far, the uptrend continues as NEAR records higher highs and higher lows, with no confirmation of a reversal. Still, a failure to close above resistance could trigger a sharper pullback, while a daily move above $5.50 would expose the $6.00 level as the next target.
TokenCurrent PriceKey ResistanceKey SupportRecent HighNEAR$5.27$5.40–$5.50$3.80$5.47HYPE$86.14$97–$100$85–$86$97–$98ETH$2,702$2,750–$2,800$2,650$2,800XRP$1.52$1.55–$1.65$1.44–$1.45$1.65Hyperliquid: Deep correction follows a failed breakoutHyperliquid, one of the sector’s most prominent decentralized perpetual-futures exchanges, is facing downward momentum after a strong surge earlier in September. The HYPE token recently reached $97–$98 before correcting to $86.14, where it now trades directly on critical support. The asset climbed from $57 to almost $100 during its rally, but profit-taking by large holders has increased the pressure.
HYPE remains above both medium-term and long-term moving averages, keeping the larger uptrend intact. However, after failing to reach the key $100 psychological mark, the token has produced a series of lower highs. The most recent candles now test the $85–$86 range, making this support pivotal for the next move. A breakdown from this region would signal a deeper retracement, while stabilization could allow the uptrend to resume.
Momentum indicators such as RSI have cooled from overbought, now moving back toward neutral territory. This moderation may help to reset sentiment, but buyers are expected to remain active in defending the current levels to avoid a more protracted decline.
Mini dictionary: Hyperliquid is a decentralized platform specializing in perpetual futures trading for digital assets, allowing users to open leveraged positions with on-chain transparency and no intermediaries.
Relative strength indicators are moderating across both NEAR and HYPE, creating an environment where holders may see sharper volatility if short-term support or resistance levels are breached.
Ethereum: Consolidation after breakoutEthereum is consolidating around $2,702 after completing an impressive multi-month surge. The latest advance peaked at nearly $2,800 before sellers established short-term resistance. Still, the overall chart structure has improved since the breakout from the previous $1,850–$1,950 trading zone.
This move unfolded on higher trading volume, solidifying conviction in the new uptrend as ETH quickly rallied through $2,200 and $2,500. A range has since formed between $2,650 and $2,800, with sellers unable to force a return to the earlier $2,400–$2,500 support zone.
Momentum has cooled as RSI moved from overbought toward the upper 50s and low 60s. Crucially, ETH has maintained most of its gains even as momentum indicators fell, indicating underlying strength.
A renewed breakout above $2,800 could trigger buying toward the psychological $3,000 level, while a loss of $2,650 could bring $2,600 or even the $2,450–$2,500 region into play. For now, the asset’s setup reflects a healthy pause following a sharp rally.
Ethereum maintains a much stronger technical pattern than during recent months, and the present consolidation phase appears to be a reset after the latest breakout rather than a confirmed reversal of trend.
XRP: Structure shifts after volatilityXRP is now trading at $1.52, recovering from a turbulent September that significantly changed its technical outlook. Following a move from near $1.00 to a monthly high of $1.65, the token experienced a sharp pullback but maintained its medium-term structure.
A breakthrough above a descending resistance, formed after the September spike, marked a pivotal shift for XRP. The asset is also trading above all major daily moving averages, with the fastest metric rising toward $1.44 and clustered medium-term support around $1.35–$1.38.
With RSI stabilized in the mid-50s, the current battle is centered on maintaining levels above $1.50. Success would reopen the path toward $1.55–$1.60 and possibly the $1.65 high. Failure could drive price down to $1.44–$1.45, with further risk toward the $1.35–$1.40 band. Despite the recent correction, XRP keeps a bullish undertone, but further progress will require buyers to overcome notable resistance at higher levels.
