Track market-moving stories before they get noisy

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH) Ethereum managed to bounce off support at $1,500 and recovered last week’s losses. This is also why it closed the week with an impressive 10% rally, as buyers regained control of price action.

To be confident in a sustained recovery, the price will need to eventually break the current resistance at $1,800. Anything less than that would only be a short relief before sellers return to dominate.

Looking ahead, Ethereum has a real chance here to set a local bottom and attempt a rally. The question is if buyers have the volume and strength to sustain it and break the key resistance in the days and weeks to come.

Source: TradingView Ripple (XRP) This week, buyers managed to defend $1, sending the price 6% higher. However, there is resistance at $1.1, which has managed to hold off the bulls, at least as of this post.

Similarly to Ethereum, XRP needs to make the best of this bounce and turn it into a sustained rally if it wants to break away from its current downtrend. Even if the $1.1 resistance falls, the price still has to claim $1.3 to confirm a breakout.

Looking ahead, the price reaction at $1 was somewhat expected since it’s a key psychological level. If buyers fail to capitalize on this in the coming days and weeks, then sellers will likely return to put pressure again.

Source: TradingView Cardano (ADA) This week, ADA impressed with a 16% bounce after the price briefly fell under the $0.15 support. With the support secured, this cryptocurrency has a good shot at moving higher. However, as of this post, the price formed a lower high.

To be confident in a sustained recovery, Cardano will have to move beyond its previous high of 19 cents. Anything less than that would make this a bearish bounce, eventually leading to ADA falling lower.

Looking ahead, sentiment across the crypto market has improved with the start of July, but the month is only just beginning, and it is too early to say whether the current price action will be sustained. At a macro level, ADA remains bearish.

Source: TradingView Binance Coin (BNB) Compared to the other coins on our list, Binance Coin remained flat this week. This is atypical and rather bearish because the price failed to reclaim its support at $580. Because of that, sellers retain the upper hand and may aim for $500 next.

The $500 support hasn’t been tested yet, but it’s the next major level if bears continue to dominate the chart. Moreover, Binance failed to secure a MICA license in the EU at the start of July, which made it lose a key market to competitors.

Looking ahead, any weakness for Binance, the exchange, will likely translate to its token, BNB. The current chart seems to confirm this, as it remains in a bearish trend with no bounce or recovery in sight.

Source: TradingView Hype (HYPE) HYPE found good support above $60 and bounced by 6% this week. This has placed it in flat price action since early June. This consolidation is also forming a large pennant. Once that is resolved, we will know where this cryptocurrency is headed next.

When a pennant forms, the price tends to respect the underlying trend, which, in this case, is bullish. Therefore, the higher probability is for the price to break away and aim for new highs.

Looking ahead, HYPE will have to secure $68 as a key support and hold above it if it wants to challenge the current all-time high at $77. Anything less than that, or a break below $60, would be a bearish signal with lower lows likely.

Source: TradingView Tags:

Bitcoin ETFs Snap 10-Day Outflow Streak With $221.7 Million Inflow

SEC FILLINGS: 8-K - Grayscale Hyperliquid Staking ETF (0002107730) (Filer)

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.

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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.

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Andrew Tate Dumps 650 Million $TATE Tokens Despite ‘Diamond Hands’ Vow

Hyperliquid Adds GRAM Perps After Sustained Community Requests@HyperliquidX has officially listed $GRAM perpetual futures, allowing traders to go long or short on the asset with up to 5x leverage. The listing follows a sustained wave of community requests as the token gained volume across major global venues including @Official_Upbit and @Binance.

The move gives traders their first high-performance decentralized venue for hedging $GRAM exposure. Hyperliquid is a Layer 1 blockchain known for its fully onchain order book and perpetual futures exchange, where every order and liquidation is executed and settled transparently onchain.

What Is GRAM and Why Does It Matter NowThe timing of the listing is closely tied to a significant rebrand on @Ton_blockchain. On June 15, 2026, the token formerly known as Toncoin was officially renamed Gram, with the ticker switching from TON to GRAM after a community governance vote passed with 81.22% support. The blockchain itself retains the name The Open Network.

The rebrand was a pure branding update covering name, ticker, and logo only. There was no new contract, no token swap, and no migration step of any kind. All $TON balances converted to $GRAM automatically at a 1:1 ratio, with no action required from holders.

The name Gram carries historical weight. The Gram rename is step four of Pavel Durov's Make TON Great Again roadmap, with Telegram now serving as the network's primary operator and largest validator. Gram was the original token name chosen in TON's 2018 whitepaper before U.S. regulatory pressure forced the project to pause and restructure under community leadership.

With $GRAM now trading at scale across centralized venues and the rebrand fully live, Hyperliquid's listing provides a decentralized derivatives layer for traders seeking to hedge or speculate on the asset without relying on custodial infrastructure.

Sources
Hyperliquid overview, CoinMarketCap
GRAM rebrand guide, MEXC News
Toncoin to GRAM rebrand explained, SpotedCrypto

TradingView has added market data from Hyperliquid and Trade[XYZ], allowing users to chart a broader range of onchain perpetual markets directly through its platform.

Trade[XYZ] and Hyperliquid data is now live on @tradingview. Putting this data where traders live has been a top priority for us.

Markets are increasingly shaped by events unfolding around the clock, and price discovery shouldn't stop when traditional venues close.

Users now…

— trade.xyz (@tradexyz) July 2, 2026

The integration provides real time data for Hyperliquid crypto perpetuals and spot assets, alongside Trade[XYZ] markets tied to equities, commodities, foreign exchange, and pre IPO companies.

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The feeds allow TradingView users to track price discovery around the clock, including during periods when traditional exchanges are closed.

Hyperliquid operates a layer one blockchain built around an onchain perpetual futures exchange. The platform currently offers more than 300 perpetual and spot markets spanning crypto assets, commodities, and indices.

The network has also expanded beyond its core exchange through HIP-3, an upgrade that allows independent developers to launch perpetual markets using Hyperliquid’s infrastructure.

Trade[XYZ], the first major deployer under HIP-3, offers perpetual markets linked to several asset classes. Its platform currently includes Hyperliquid crypto perpetuals, equity perpetuals, and crypto spot markets.

TradingView users can find the newly added markets through the symbol search function in Supercharts. Hyperliquid markets are available under the HYPERLIQUID prefix, while Trade[XYZ] markets can be found using HIP3XYZ.

Disclosure: This article was edited by Estefano Gomez. 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.

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.

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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.

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Johannesburg, South Africa, July 2nd, 2026, Chainwire

Africa’s largest crypto exchange by trade volume expands its derivatives architecture, integrating Hyperliquid to offer access to perpetuals on equities, indices, precious metals, commodities, forex, and crypto.  This marks the first time a major regulated exchange has natively integrated an on-chain Layer-1 protocol to source liquidity and execute trades across global cross-asset perpetuals. Perps on VALR are set to go live on the web on Monday, 6 July, with mobile app availability to follow shortly after. VALR has announced the imminent launch of ‘Perps’, a new cross-asset class perpetuals product that introduces more than 200 markets to the platform. This expansion enables users to express directional views by going long or short with leverage across a comprehensive selection of global equities, commodities, precious metals, stock indices, forex pairs, and crypto assets. The launch adds to VALR’s established derivatives infrastructure, which pioneered the exchange’s initial perpetuals offering in 2023.

Strategic Infrastructure Integration with Hyperliquid The new product is delivered through an integration of Hyperliquid, a high-performance decentralised blockchain. Using Hyperliquid’s permissionless infrastructure, VALR users can open and manage positions directly on VALR, ensuring a seamless user experience.

Advanced Cross-Asset Market Exposure The inclusion of over 200 new markets marks a major development in the diversity of assets available through a single digital platform and marks the first time that a major regulated exchange has natively integrated an on-chain Layer-1 protocol to source liquidity and execute trades across global cross-asset perpetuals. The newly available contracts span multiple global asset classes, enabling traders to express their views on macroeconomic events and capitalise on volatility:

Global Equities and Benchmarks: Perpetual contracts on trending global enterprises and pre-IPO markets, including SpaceX, NVIDIA, Tesla, Apple, SK Hynix, Samsung, and Palantir Technologies, alongside exposure to leading global equity indices such as the S&P 500 and other international indices. Commodities and Precious Metals: Exposure to vital energy markets, including Brent Crude Oil, WTI Crude Oil, and Natural Gas, metals such as Gold, Silver, Platinum, and Copper. Foreign Exchange: Institutional currency pairs including EUR/USD, GBP/USD, and USD/JPY. Crypto Assets: Comprehensive coverage of the digital asset ecosystem, ranging from foundational protocols like Bitcoin, Ethereum, and Solana, to a wide selection of alternative layer-1 and layer-2 networks, decentralised finance tokens, and high-volume tokens. Gianluca Sacco, Chief Operating Officer at VALR, said:

“With this launch, we’re putting over 200 perpetuals markets directly inside the VALR app. 24/7 access to crypto, commodities, currencies, and equities – both listed and pre-IPO – all through the regulated exchange our customers already trust. Perps are how crypto traders take a view on price – a market now exceeding hundreds of billions of dollars in daily volume. We believe they will become how people trade every market. Our integration of Hyperliquid will give our users the deepest on-chain liquidity available anywhere. For VALR customers in South Africa and beyond, this is access to the markets that matter, in real-time.”

About VALR Founded in 2018, headquartered in Johannesburg, and backed by leading investors including Pantera Capital, Coinbase Ventures, and Fidelity’s F-Prime Capital, VALR is the leading digital asset exchange and infrastructure provider on the African continent, offering a comprehensive suite of products, including Spot Trading, Spot Margin, Perpetuals, Staking, Lending, Borrowing, OTC services, VALR Invest, Crypto Bundles, and VALR Pay. Licensed by South Africa’s FSCA, and with a provisional licence from the Cayman Islands Monetary Authority, VALR serves over 1.9 million registered users and 1,900 corporate and institutional clients worldwide. The exchange is dedicated to advancing a just financial future that upholds human dignity and the unity of mankind. For more information, visit valr.com.

About Hyperliquid Hyperliquid is a decentralised layer one blockchain best known for perpetuals and spot trading. It is the largest and most liquid decentralised exchange, with support for crypto and real-world assets, such as oil and precious metals. In addition, the ecosystem supports borrowing, lending, and a full-fledged EVM.

Risk Disclosure

Futures trading is provided by VALR DAM Pty Ltd, a licensed Financial Services Provider (FSP #54897) and Over-the-Counter Derivatives Provider.

VALR Perps order management, order execution, liquidation, margin requirements, position management, mark prices, and funding rates are managed by, and provided through, certain third-party liquidity provider(s). VALR acts only as an intermediary that enables account holders to access the services offered by such third-party liquidity provider(s) and disclaims any liability arising from or in connection with the acts, omissions, services, pricing, liquidity, order execution, system availability, or operational failures of such third-party liquidity provider(s).

Use of VALR Perps involves risk; please refer to VALR’s Risk Disclosures and Futures Terms of Service.

Hyperliquid Price Forecast: Easing ETF flows, retail demand edge HYPE to make-or-break stage

Hyperliquid Price: Buying Opportunity or Big Correction Ahead?

KEY TAKEAWAYS

HIP-3 is a Hyperliquid network upgrade launched in October 2025 that allows permissionless deployment of perpetual futures markets by staking 500,000 HYPE tokens. Open interest across HIP-3 markets grew from roughly $790 million in January 2026 to a peak of $3.2 billion by June, according to Grayscale. TradeXYZ, the leading HIP-3 builder, accounts for more than 90% of all HIP-3 open interest with tokenized equities, indices, and commodities. Seven of Hyperliquid’s top ten markets by volume are now tokenized equities or commodity futures rather than traditional cryptocurrency pairs. Grayscale compared Hyperliquid’s infrastructure model to Amazon Web Services, calling it a platform where developers create products while HYPE captures value from every trade. Hyperliquid’s HIP-3 upgrade has quietly transformed a decentralized perpetuals exchange into what Grayscale Research described as “more like Amazon Web Services than a stock exchange” in a June 2026 research note cited by Stocktwits. 

Since launching on October 13, 2025, HIP-3 has enabled permissionless deployment of perpetual futures markets for assets that include NVDA, TSLA, gold, crude oil, and the S&P 500. Open interest surpassed $3.2 billion in June 2026, and on peak days, HIP-3 markets accounted for nearly 48% of Hyperliquid’s total trading volume. 

This article explains the mechanics of HIP-3, how open interest functions on the platform, and what the growth trajectory means for the broader DeFi derivatives market.

How HIP-3 Works: Permissionless Market Deployment HIP-3 enables any participant who stakes 500,000 HYPE tokens, worth approximately $25 million at current prices, to deploy their own perpetual futures exchange on HyperCore, Hyperliquid’s main trading layer.

Deployed markets operate alongside native Hyperliquid pairs but are not covered by the platform’s shared liquidity vault, known as HLP. Instead, deployers manage their own liquidity, according to a detailed CoinGecko analysis published in May 2026. 

Deployers earn half of the trading fees generated on their markets. HIP-3 markets charge roughly double the native fee rate, starting at 0.09% for takers versus 0.045% on native pairs. A “Growth Mode” feature introduced in November 2025 allows deployers to reduce fees by 90% to accelerate adoption, according to OAK Research. 

All HIP-3 markets are margined in USDC, priced against off-chain oracles, and trade 24 hours a day, seven days a week. This always-on structure proved especially relevant during the U.S.-Israeli-Iranian conflict, when high-impact market events developed outside traditional trading hours.

Open Interest Growth: From $790 Million to $3.2 Billion The growth trajectory has been steep. Open interest on HIP-3 markets stood at roughly $790 million in January 2026, crossed $1.43 billion by late March, surpassed $2 billion in April, and reached $3.2 billion in early June, according to a Grayscale research note. 

Since launch, HIP-3 markets have processed over $200 billion in cumulative trading volume. TradeXYZ, a perpetuals platform built by the Hyperunit team, dominates the vertical, accounting for more than 90% of total HIP-3 open interest. 

The platform offers exposure to U.S. equities such as NVDA, TSLA, GOOGL, and AMZN, a synthetic Nasdaq-style index called XYZ100, and commodities, including gold and silver, benchmarked to COMEX front-month futures. Non-crypto assets achieved 60% trader retention in late March 2026, indicating sustained engagement rather than speculative activity.

Analysis: The retention figure is significant. In most DeFi product launches, initial activity spikes and then decays within weeks. A 60% retention rate suggests that HIP-3 is solving a structural problem, 24/7 market access, rather than offering a novelty.

The fact that seven of Hyperliquid‘s top ten markets by volume are now non-crypto assets represents a category shift from a DeFi derivatives protocol toward a global macro trading venue.

Revenue, HYPE Buybacks, and the SpaceX Catalyst Hyperliquid generated $2.3 million in daily fees at peak HIP-3 activity, funding $11 million in HYPE token buybacks. The HYPE token outperformed Bitcoin and Ethereum by over 70% in Q1 2026, according to 99Bitcoins reporting.

The SpaceX initial public offering in June 2026 provided another catalyst. TradeXYZ launched a SpaceX pre-IPO perpetuals market on May 18, 2026, which surpassed $50 million in open interest before SpaceX officially filed its S-1 two days later. 

Moon Rock Capital co-founder Simon Dedic stated in a post on X that the access issues retail traders faced around the SpaceX Nasdaq debut “make the case for trading exposure to high-profile private companies via onchain perpetual futures on Hyperliquid.”

In March 2026, the first S&P 500 perpetual futures product launched on Hyperliquid after S&P Dow Jones Indices licensed the index to a HIP-3 deployer, according to Grayscale.

Regulatory Implications HIP-3 markets offering tokenized equity derivatives operate without KYC requirements, creating a direct conflict with securities regulations in most jurisdictions. The SEC has not issued specific guidance on permissionless perpetual futures tied to U.S. equities. As HIP-3 open interest approaches levels that attract institutional market-making firms, regulatory scrutiny is likely to intensify.

What’s Next for HIP-3? Grayscale’s research note positioned $5 billion in open interest as the inflection point at which HIP-3 markets attract professional market-making firms from CME and CBOE. The launch of HIP-4, which introduces outcome-based prediction market contracts on Hyperliquid, adds a new dimension.

Pending U.S. crypto market structure legislation could either validate or constrain the model. Participants should monitor regulatory developments and the platform’s approach to compliance.

FAQs What is Hyperliquid HIP-3?
HIP-3 is a Hyperliquid network upgrade from October 2025 that lets builders deploy permissionless perpetual futures markets by staking 500,000 HYPE tokens.

How much does it cost to deploy a HIP-3 market?
Deployers must stake 500,000 HYPE tokens, worth approximately $25 million at current prices, to launch a perpetual futures market on HyperCore.

What is open interest on HIP-3?
HIP-3 open interest peaked at $3.2 billion in June 2026, growing from roughly $790 million in January, according to Grayscale research data.

What assets can be traded on HIP-3?
HIP-3 supports tokenized equities like NVDA and TSLA, commodities including gold and oil, indices such asthe  S&P 500, and pre-IPO stocks.

What is TradeXYZ?
TradeXYZ is the leading HIP-3 deployer built by the Hyperunit team, accounting for more than 90% of total HIP-3 open interest across all markets.

How do HIP-3 fees work?
HIP-3 markets charge roughly double native Hyperliquid rates, with half going to the deployer. Growth Mode can reduce these fees by 90%.

What is HIP-4?
HIP-4 is Hyperliquid’s outcome-trading upgrade, launched in May 2026, introducing fully collateralized prediction-market contracts that settle at 0 or 1.

References What is Hyperliquid’s HIP-3? How it works and use cases, OAK Research, June 2026 Hyperliquid’s HIP-3 & HIP-4: Tokenized Stocks and Prediction Markets, CoinGecko, May 2026 Hyperliquid Emerges As Superior Alternative After SpaceX IPO Lockup Chaos, Stocktwits, June 2026 Hyperliquid Fees Explained: Perps, Spot & HIP-3, Datawallet, May 2026

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.

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Phantom has hired three Ventuals creators after the Hyperliquid-based project shut down its OpenAI and Anthropic perpetual futures markets.

Summary

Phantom has hired Ventuals creators Alvin Hsia, Emily Hsia and Aris Samad for its trading and data teams. Ventuals recently shut down its OpenAI and Anthropic perpetual futures markets on Hyperliquid. Phantom said the hires will support its deeper push into perpetual futures and Hyperliquid-based trading products. Phantom CEO Brandon Millman said Alvin Hsia, Emily Hsia and Aris Samad, who created Ventuals, have joined the company’s trading and data teams.

The move brings one of Hyperliquid’s closely watched private-company market experiments into Phantom’s growing trading business.

Ventuals had earlier announced that it was winding down and joining another project within the Hyperliquid ecosystem. The project had gained attention for offering perpetual futures tied to private-company valuations, including markets linked to OpenAI and Anthropic, before those products were closed.

Perpetual futures allow traders to take positions on price movements without a contract expiry date. Unlike traditional futures, these contracts can remain open as long as margin conditions are met, making them one of the most used derivative products in crypto markets. 

Their constant availability, deep liquidity, and flexible market design have also made them useful for trading assets beyond listed cryptocurrencies.

Phantom deepens focus on Hyperliquid trading For Phantom, the hires come as the self-custody wallet continues adding trading-focused features to its core wallet business. The company is best known as a crypto wallet provider, but it has expanded into swaps, staking and derivatives as wallets compete to become more active financial platforms for users.

Millman said Phantom has become the largest distribution partner in the Hyperliquid ecosystem and plans to keep building around perpetual futures. He said open markets had become a major focus for the company and added that Phantom had gone deep into perps and planned to go further.

In the same statement, Millman described Hyperliquid as one of the strongest examples of what open markets can enable, citing its global liquidity and transparent onchain infrastructure. According to him, adding the Ventuals team will help Phantom move faster in developing trading products linked to the ecosystem.

The development also comes as perpetual futures gain attention outside crypto-native exchanges. Kalshi launched its own perpetual futures business last month after receiving regulatory approval, adding another example of trading platforms testing always-on derivatives beyond traditional crypto markets.

The cryptocurrency market has dropped by more than $2.3 trillion between October 2025 and July 1, but amid this decline, four revenue-backed crypto coins: Hyperliquid (HYPE), PumpFun (PUMP), Pancake Swap (CAKE), and Aave (AAVE), whose underlying blockchains generate revenues, are standing out.

Analyst Ted Pillows notes that the revenue earned by these blockchains is used to buy back their native crypto coins. These token buybacks then reduce the supply and boost the sentiment even when the broader market is bearish.

Per the analyst, traders should stop chasing narratives that most likely never play out in bear markets and instead focus on these revenue-backed crypto coins that return value to holders.

Hyperliquid Tops $14M in Weekly Revenues as Institutional Demand Soars Data from TokenTerminal shows that Hyperliquid generated $14.13 million in revenue for the week between June 22 and June 28.

These $14 million in revenue comes from the $2.06 billion in DEX volumes that Hyperliquid recorded during the same week per DeFiLlama data.

HYPE Revenues Hyperliquid uses 93% to 99% of these revenues to buy back HYPE tokens, which then reduces the supply, eases the selling pressure, and creates room for the price to gain.

SoSoValue data shows that institutions are betting on revenue-backed dynamics of this crypto coin after spot HYPE ETFs recorded $111.3 billion in inflows in the week of June 22 to June 26.

In comparison, Bitcoin ETFs had $1.79 billion in outflows during the week, while Ethereum ETFs had $273 million in outflows.

The sentiment around the HYPE token also remains bullish because the price is up by 2.89% between June 24 and July 1, while BTC and ETH have dropped by 6% and 5%, respectively, within the same period.

HYPE Crypto Coin Technical Outlook as Bear Flag Forms HYPE price gained from $60 on June 28 to $67 on June 29 before dropping to $64 today, July 1. This price movement has created a bear flag pattern with a height of 12%.

The price of this revenue-backed crypto coin could rise by 12% if it overcomes the barrier of this bear flag pattern at $64. Closing above this barrier of $64 for three straight days might push the price to $71.

The RSI reading of $48 suggests that the short-term momentum is still favoring bears. If bears tighten their grip and HYPE drops below the support of $64, it might retest the June 25 low of $58.

HYPE Price Chart However, Hyperliquid’s rising revenues support a bullish long-term HYPE price forecast, especially if institutions continue betting on the token through ETFs.

PumpFun Generates $3.89M In Revenues Despite Waning Meme Coin Activity PumpFun is also another revenue-backed crypto coin whose revenues reached $3.89 million between June 22 and June 29, per TokenTerminal data.

PUMP Revenues This meme coin on Launchpad continues to record revenues even when the meme coin market cap has dropped by $115 million.

Analyst Ted Pillows notes that PumFun had $459 million in revenues between July 2025 and July 2026, making it the second-biggest blockchain by revenues after Hyperliquid.

Just like HYPE, PUMP price has set itself apart from other crypto coins, and it has increased by 1.4% between June 22 and June 29.

That increase shows that the mechanism where Pumpfun uses 50% of the revenue that it generates to buy back PUMP tokens is easing selling pressure and increasing demand, which in turn supports gains in price.

PUMP Price Tests 20-day EMA Resistance as Bearish Pressure Wanes The price of the PUMP token is testing the barrier at the 20-day EMA of $0.00144. Making three daily closes above $0.00144 might push the price to the 50-day EMA of $0.00156.

A move above the 100-day EMA level of $0.00174 could support a bullish long-term PUMP price forecast, and the revenue-backed crypto coin could then target the May 10 high of $0.0022.

PUMP Price Chart The AO bars that are green despite being on the negative side also suggest that bears are losing their grip on the market, and PUMP price could close above the 20-day EMA level of $0.00144.

PancakeSwap Revenues Jump to $2.69B TokenTerminal also shows that the PancakeSwap DEX platform generated $2.69 billion between June 22 and June 29, and most of this came from DEX trading activity.

CAKE Revenues Data from DeFiLlama shows that the DEX volumes for this revenue-backed crypto coin reached $4.66 billion in the week of June 22, higher than the $4.51 billion seen in the week of June 15.

Pancake Swap uses part of the revenues that it generates from trading activity to buy back CAKE tokens before sending them to a burn address and removing them entirely from the supply.

This burn mechanism has reduced the number of CAKE tokens that are in circulation from 326 million to 307 million, and this casts a bullish outlook on the PancakeSwap long-term price forecast if demand rises.

CAKE Price Outlook as AO Bars Flash a Bearish Divergence on the Crypto Coin The AO bars on CAKE’s daily chart that are green despite being negative have created a bullish divergence.

This is because the bars are suggesting bearish pressure is waning even as the price drops.

CAKE/USDT Price Chart The price of CAKE has moved to the support of $1.26, and if it moves below it, bears might pull the price down to the June 1 low of $1.127.

But if bears weaken their grip on CAKE as the AO bars hint, the price might rise to $1.63.

Aave Revenues Jump As Demand for the Crypto Coin Soars Aave is one of the top revenue-backed crypto coins that traders are watching, especially now that rumors are swirling around Kraken purchasing a 15% stake in Aave.

AAVE Revenues While the founder of Aave, Stani Kulechov, denied the claims about Kraken’s investment in the company, the revenues rose to $1.98 million per TokenTerminal data, suggesting that the news increased interest in the platform.

Data from DeFiLlama also shows that the fees paid on Aave in the week between June 22 and June 29 reached $7.48 million.

The price of this revenue-backed crypto coin has also increased by 15% from $70 on June 24 to $86 today, July 1.

AAVE Technical Outlook as Bears Test Support AAVE has dropped to test the support level of 85. This drop comes as the volume bars that are red show that selling pressure is more than buying pressure,

A move below this support of $85 might push AAVE price to the June 23 low of 70.

AAVE Price Chart The RSI reading of 57 suggests that bulls are in control, and AAVE price might rise to $95. But this RSI line is also dropping, suggesting that buying pressure is waning.

Jun 30, 2026, 9:00 p.m.

2 min read

Phantom CEO Brandon Millman. (Danny Nelson/CoinDesk))Summary

Phantom hired the team behind Ventuals, the project that recently shut down OpenAI and Anthropic perpetual futures on Hyperliquid.The hiring aims to boost Phantom's plans to "go deeper" on perpetuals and open markets as wallets increasingly evolve into trading platforms, CEO Millman said.Perpetual futures have become one of crypto's fastest-growing products, expanding beyond digital assets into traditional markets.The team behind one of Hyperliquid's highest-profile private-company trading projects has found a new home.

Crypto wallet Phantom said Tuesday it hired Alvin Hsia, Emily Hsia and Aris Samad, the creators of Ventuals, the project that shut down its OpenAI and Anthropic perpetual futures markets earlier this week.

The trio will join Phantom's trading and data teams, according to Phantom CEO Brandon Millman.

The move comes after Ventuals announced earlier this month it was winding down and joining another project within the Hyperliquid ecosystem, ending one of the exchange's most prominent experiments in trading private-company valuations onchain.

Perpetual futures have evolved from a crypto-native innovation into one of the industry's most important products. They are a type of derivative that allows investors to speculate on future price movements without putting an expiration date on that contract, allowing it to be held as long as the investor wants. Their around-the-clock trading, high liquidity and ability to track virtually any asset have made them a popular vehicle for everything from crypto speculation to bets on private companies and commodities.

The race is also spreading beyond crypto. Last month, prediction market operator Kalshi launched its own perpetual futures business after regulatory approval, joining exchanges betting that always-on derivatives will become a larger part of financial markets.

For Phantom, the hires are part of a broader push into trading.

Best known as one of crypto's largest self-custody wallets, Phantom has steadily expanded beyond asset storage into swaps, staking and derivatives as wallets increasingly compete to become full-service financial apps rather than simple interfaces for holding tokens.

The company said it has become the largest distribution partner in the Hyperliquid ecosystem and plans to deepen its focus on perpetual futures.

"Open markets have become a major focus for us," Millman wrote. "We've gone deep on perps, and we intend to go deeper."

Millman described Hyperliquid as "one of the best examples anywhere of what open markets make possible," pointing to its global liquidity and transparent onchain infrastructure.

Bringing on the Ventuals team will help Phantom accelerate its efforts to build trading products around the ecosystem, he said.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

18 hours ago

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

HYPE got its first U.S. exchange-traded fund in May, ran 16 straight days of inflows, then saw money walk out the door. The ETF is a new demand channel, but the first outflow is the first test of it.

Summary

Hyperliquid (HYPE) trades in the mid-$60s as of late June 2026, roughly 14% below its $76.67 record set on June 16, with a market cap near $14 billion to $16 billion and a fully diluted valuation around $60 billion. The Bitwise HYPE ETF launched on May 14, 2026, giving regulated investors a wrapper for HYPE exposure, after Bitwise had already listed a Hyperliquid staking product in Europe in April. The fund logged 16 consecutive days of inflows before its first daily outflow of nearly $3 million on June 5, a small figure in dollars but a notable turn in the early demand story. HYPE’s core engine is a buyback that routes 97% of protocol fees into purchasing and burning the token, which has retired over $1 billion of HYPE and pulled circulating supply below 300 million, working against a roughly 1.2 million monthly unlock to insiders. Forecasts run from Coinpedia’s high-$30s average to Arthur Hayes at $150, with prediction markets leaning toward HYPE clearing $80 by year-end, so the ETF flow and the buyback-versus-unlock balance, not any single target, will decide the path. In May 2026, Hyperliquid crossed a line that most tokens never reach: it got its own U.S. exchange-traded fund. The Bitwise HYPE ETF gave ordinary brokerage accounts and institutions a regulated way to hold exposure to one of the most talked-about assets in crypto. 

For 16 trading days, the money flowed in. Then, on June 5, it reversed, with the fund posting its first daily outflow of close to $3 million. The amount was tiny next to HYPE’s multibillion-dollar market cap, but the symbolism was real, and crypto.news flagged the turn at the time.

This piece looks at HYPE’s price through the lens of that ETF and its first outflow, which is a different question from whether HYPE can reach $100. It covers what the Bitwise fund changed, what the early outflow signals, the buyback engine the ETF flows into, the unlock overhang pulling the other way, the regulatory cloud overhead, where the chart sits, and what analysts and prediction markets expect. It closes with bull, base, and bear scenarios and a short FAQ.

The Bitwise ETF and why it mattered The Bitwise HYPE ETF debuted on May 14, 2026, pitched as targeted exposure to the infrastructure behind on-chain derivatives. It was not Bitwise’s first Hyperliquid product. In April, the firm listed a Hyperliquid staking exchange-traded product, BHYP, on Deutsche Boerse’s Xetra venue in Europe, one of a growing suite of staking vehicles.

Bitwise also leaned into Hyperliquid’s own transparency ethos, committing to publish the ETF’s wallet addresses so investors could verify the fund’s holdings on-chain rather than take them on trust.

The reason an ETF matters for price is access. A token that previously required a self-custody wallet or an offshore exchange suddenly becomes reachable through a regulated product that fits inside retirement accounts and institutional mandates. That widens the pool of potential buyers and, in theory, adds a steady bid that is less reactive than crypto-native flows.

For HYPE, which already carried a large following, the ETF was a credibility marker as much as a demand channel: it signaled that a serious asset manager judged the token investable enough to wrap and sell.

The catch is that an ETF is a pipe, not a pump. It makes buying easier, but it does not create demand on its own. The flows that move through it can run in either direction, and that is exactly what the first month showed.

The first outflow, and what it signals For 16 straight sessions after launch, the Bitwise HYPE ETF took in money. That streak was the bullish read in action: regulated demand arriving day after day, exactly the steady bid the ETF was supposed to deliver. Then on June 5, the fund recorded its first daily outflow, nearly $3 million leaving in a single session. In dollar terms, it was almost nothing against a market cap in the tens of billions. As a signal, it carried more weight than its size.

The outflow is best read as the first test of the ETF demand story rather than its failure. It coincided with HYPE pulling back from its mid-June record and the broader market sliding into a risk-off, extreme-fear posture, so some of the selling was almost certainly market-wide rather than HYPE-specific. But it punctured the clean narrative of one-directional institutional accumulation. ETF flows, it turned out, would ebb and flow with sentiment like everything else, and that makes them a variable to track instead of a guaranteed tailwind.

For the forecast, the practical point is that ETF flow is now one of the clearest real-time gauges of institutional appetite for HYPE. A return to sustained net inflows would confirm the bull thesis that regulated demand is building. A pattern of choppy or net-negative flows would suggest the early enthusiasm has cooled, and that the price has to lean on its other engines instead.

The buyback engine the ETF flows into What makes HYPE structurally unusual is where its trading fees go. Roughly 97% of the protocol’s fees feed an Assistance Fund that continuously buys HYPE on the open market and burns it. This is not a promise of future buybacks; it is a live mechanism funded by real activity. Cumulative buybacks have passed $1 billion; the program has burned around 4.17% of total supply, pushing circulating supply below 300 million tokens. The platform’s daily revenue has run near $2.5 million, HyperEVM transaction fees have set records, and cumulative trading volume has crossed $4.15 trillion.

The ETF and the buyback connect in a way that matters for price. The buyback is powered by trading volume, because more volume means more fees and therefore more HYPE bought and burned. The ETF, by widening the holder base and supporting the token’s profile, can indirectly feed the system if it helps sustain attention and activity on the platform.

The product expansion compounds the same way: the FOMO app launched on June 11, letting users trade perpetuals across equities, pre-IPO stocks, crypto, indices, and commodities from one interface, while HIP-3 and HIP-4 push the platform toward prediction markets and options. Each new market is a potential new source of the fees that drive the burn.

The bull case in one line is that this engine eats its own supply faster than the unlocks can replace it. The more the platform grows, the more it buys back, and the thinner the float becomes. The ETF is one more on-ramp pointed at that engine.

The unlock overhang pulling the other way Against the buyback sits the supply schedule. Only about 27% of HYPE’s roughly 953 million to 1 billion maximum supply is in circulation, which means a large share is still locked and scheduled to come to market over years. Roughly 1.2 million HYPE per month is distributed to team members and early backers, a steady stream of new sellable supply that the buyback has to absorb just to stay even.

The fully diluted valuation near $60 billion is the number the skeptics point to: it implies a very large eventual supply, and the gap between the circulating market cap and the FDV is the overhang the market has to digest over time.

This is the tug-of-war that defines HYPE. The buyback pulls supply off the market and burns it; the unlocks push new supply on. ETF inflows can tilt the balance toward demand; ETF outflows tilt it back. The reason forecasts vary so wildly is that the outcome depends on which side wins, and that in turn depends on whether platform volume keeps growing fast enough to keep the burn ahead of the unlocks. No model can know that in advance, which is why honest analysis tracks the variables instead of betting the house on a single price.

The regulatory cloud HYPE carries a regulatory question mark that the ETF does not erase. In one episode, Singapore’s monetary authority added Hyperliquid to its Investor Alert List, a reminder that a permissionless derivatives venue draws scrutiny from regulators who worry about access and oversight.

Hyperliquid also operates in a legal gray zone in some jurisdictions, including restrictions affecting users in the United States, and the traditional derivatives establishment has been pressing regulators to bring platforms like it under tighter rules, citing concerns about manipulation and permissionless markets.

For the price, regulation cuts both ways. A clear, favorable framework would remove an overhang and could unlock broader access, especially in the United States where the platform’s reach is constrained. A crackdown, or even sustained uncertainty, could cap institutional participation and weigh on the very ETF demand the bull case depends on. The ETF brings HYPE closer to the regulated world, which is a benefit when the rules are friendly and a liability when they are not.

Where the chart and the price sit HYPE trades in the mid-$60s as of late June, roughly 14% below the $76.67 all-time high set on June 16. The price history is a story of violent moves: the token launched near $7.56 in November 2024, climbed to about $35 by year-end, peaked near $59 in September 2025, then corrected hard to the $21 to $26 range in early 2026 with a February low around $21. From there it built a long base and broke out through the $50 to $52 zone in June, ran to its record, and pulled back. That $50 to $52 area now reads as structural support, the floor the breakout set.

Hyperliquid price chart | Source: crypto.news The short-term picture is post-record consolidation. After a sharp run to a new high, the token is digesting gains, with momentum cooled from its peak. The bullish structural read is that the correction is happening while the platform’s fundamentals, volume, revenue, and fees keep setting records, which is the opposite of a top built on fading activity.

The bearish read is that a second failed push at the high would raise doubts and open the door back toward the low-$50s support. Reclaiming and holding above the record is what would put price discovery back in play.

What analysts and prediction markets expect Third-party forecasts for HYPE span an enormous range, which reflects the genuine uncertainty in the buyback-versus-unlock outcome. These are external projections, offered as a spread of views instead of targets this publication endorses.

On the cautious side, Coinpedia’s 2026 model runs from roughly $19.85 to $54.87 with an average near $37, and Cryptopolitan points to a peak around $58 with a separate analysis near a $40 average. In the middle, several views see a return toward or past the all-time high if adoption continues.

At the bullish extreme, Arthur Hayes has floated $150 by August 2026, premised on the buyback, organic volume growth, and the prediction-market and options expansion all firing together, while Multicoin Capital argues for $319 by 2028 on the thesis that the market underrates Hyperliquid as an emerging “everything exchange” instead of just a perpetuals venue. Prediction markets in mid-2026 leaned toward HYPE clearing $80 before year-end, with a smaller share betting on $100 and bets on a drop below $50 carrying meaningful odds.

The spread, from the high $30s to $150 in the same year, is the point. It is not noise; it is an honest map of how much depends on volume, flows, and regulation. The ETF is one input into that map, not the whole territory.

How HYPE’s ETF compares with the Bitcoin and Ether funds The clearest way to read the Bitwise HYPE ETF is against the template set by the Bitcoin and Ether funds that came before it. Those products showed the playbook: a regulated wrapper opens a corridor for capital that cannot or will not touch spot crypto directly, and once that corridor exists, an asset stops being treated as a fringe speculation and starts being treated as an allocatable holding.

The Bitcoin funds in particular showed how powerful steady, structural inflows can be when they arrive day after day from advisers and institutions instead of from reactive crypto traders.

HYPE inherits that template, but with important differences that cut against a clean comparison. It is far younger and far smaller than Bitcoin or Ether, which makes its ETF flows more volatile and more capable of moving the underlying price in both directions. Its fully diluted valuation near $60 billion sits well above its circulating market cap, so the supply overhang is larger and more present than it was for the major assets when their funds launched. And HYPE’s regulatory standing is less settled, which caps how aggressively some institutions can participate.

The European staking product, BHYP on the Xetra venue, adds a second access point and a yield angle that the early Bitcoin funds lacked, but it does not change the core asymmetry: a smaller, younger token feels ETF flows more sharply than a trillion-dollar asset does.

The takeaway is that the ETF is a genuine structural positive that should not be mistaken for a guaranteed one. For Bitcoin, the funds eventually delivered sustained net demand. For HYPE, the first month already showed flows can reverse, so the corridor is open but the traffic through it is not yet proven to run one way.

What to watch: the metrics that decide HYPE For readers tracking HYPE instead of reacting to each candle, a handful of metrics will signal which scenario is unfolding. The first and most direct is ETF flow direction. Sustained net inflows would confirm the bull thesis that regulated demand is building, while a pattern of choppy or negative flows, in the vein of the June 5 outflow, would suggest the early enthusiasm has cooled, and the price must lean on its other engines.

The second is weekly trading volume and fee revenue, because those power the buyback. As long as volume keeps setting records and fees keep feeding the Assistance Fund, the burn stays strong, and supply keeps tightening. A slowdown in volume would weaken the buyback at the worst possible time, just as fresh unlocks arrive.

The third is the unlock pace itself, roughly 1.2 million HYPE a month to insiders, and whether the buyback is retiring tokens faster than the schedule releases them. The fourth is regulation: any movement on the U.S. access question or follow-through on alerts like the one from Singapore’s authority would shift the institutional calculus quickly.

The fifth is the chart structure around two levels. Reclaiming and holding above the $76.67 record would put HYPE back into price discovery and validate the optimistic targets, while losing the $50 to $52 breakout support would confirm the post-record correction has turned into something deeper.

Tracked together, these five say more about HYPE’s path than any single forecast, because they map directly onto the buyback-versus-unlock tug-of-war that the ETF flows now sit on top of. The ETF made HYPE easier to buy. These metrics decide whether buyers keep showing up.

Bull, base, and bear scenarios for HYPE The scenarios below combine the ETF flow story with the buyback, the unlocks, and the regulatory backdrop. They are illustrative ranges drawn from the external forecasts and current structure, not guarantees.

Bull case In the bull scenario, ETF flows turn decisively net positive again after the early wobble, confirming that regulated demand is building. Platform volume keeps climbing as the FOMO app, prediction markets, and options add fee sources, so the buyback accelerates, and the burn stays ahead of the roughly 1.2 million monthly unlocks. Regulation breaks favorably, easing the access overhang. HYPE reclaims $76.67, enters price discovery, and runs toward the optimistic targets in the $90 to $150 range that Telegaon and Arthur Hayes describe, with the “everything exchange” thesis supporting a higher multi-year path. This case needs volume growth to outrun the unlocks and the regulatory cloud to lift.

Base case In the base scenario, the ETF settles into choppy flows that neither confirm nor break the demand story, and the buyback roughly offsets the unlocks without overwhelming them. HYPE holds its $50 to $52 breakout support and trades in a wide band beneath the record for much of the year, with the average landing somewhere around the high $30s to high $50s that the cautious Coinpedia and Cryptopolitan models bracket, punctuated by sharp moves in both directions as sentiment shifts. The fundamentals stay strong, but the supply overhang and regulatory uncertainty cap sustained upside. This is the “strong business, range-bound token” outcome.

Bear case In the bear scenario, ETF outflows persist and signal that institutional enthusiasm has cooled, while a risk-off market and any regulatory escalation, building on the MAS alert and U.S. access concerns, weigh on demand. Platform volume slows, the buyback weakens just as fresh unlocks arrive, and the FDV gap reasserts itself. HYPE loses the $50 to $52 support and slides toward the low-$30s or below, in line with the bottom of the cautious forecast range. In this case, the buyback cannot keep pace with the unlocks, and the ETF that was supposed to be a tailwind becomes a visible scoreboard for fading demand.

Frequently Asked Questions When did the Bitwise HYPE ETF launch? The Bitwise HYPE ETF debuted on May 14, 2026, offering regulated exposure to Hyperliquid’s token. Bitwise had earlier listed a Hyperliquid staking product, BHYP, on Deutsche Börse’s Xetra venue in Europe in April 2026. The firm also committed to publishing the fund’s wallet addresses so investors could verify holdings on-chain.

What was the first HYPE ETF outflow, and does it matter? After 16 consecutive days of inflows, the Bitwise HYPE ETF recorded its first daily outflow of nearly $3 million on June 5, 2026. The dollar amount was small relative to HYPE’s market cap, and it coincided with a broad risk-off pullback, so it was not a HYPE-specific collapse. It matters as a signal: it showed ETF flows will move with sentiment, making them a variable to track instead of a guaranteed source of demand.

How does the HYPE buyback work? Roughly 97% of Hyperliquid’s protocol trading fees flow into an Assistance Fund that buys HYPE on the open market and burns it. Cumulative buybacks have passed $1 billion, around 4.17% of supply has been burned, and circulating supply has fallen below 300 million. The buyback is powered by trading volume, so more platform activity means more buying and burning.

What is the main force working against HYPE’s price? The main counterweight is the token unlock schedule. Only about 27% of the maximum supply circulates, and roughly 1.2 million HYPE per month is released to team members and early backers. That steady new supply, plus a fully diluted valuation near $60 billion, is what the buyback has to absorb. The balance between buyback and unlocks is the central question for the price.

Is HYPE affected by regulation? Yes. Singapore’s monetary authority placed Hyperliquid on its Investor Alert List, and the platform operates in a legal gray zone in some jurisdictions, including restrictions affecting U.S. users. Favorable rules could broaden access and support ETF demand, while a crackdown or prolonged uncertainty could limit institutional participation and weigh on the price.

What do forecasts say HYPE could reach? External forecasts vary widely. Coinpedia’s 2026 range runs from about $20 to $55 with an average near $37, and Cryptopolitan points to a peak around $58. More bullish views include Arthur Hayes at $150 by August 2026 and Multicoin Capital at $319 by 2028. Prediction markets leaned toward HYPE clearing $80 by year-end. The wide spread reflects how much depends on volume, ETF flows, and regulation.

Disclaimer: This article is for information purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency prices are highly volatile, and price predictions are speculative estimates that may not occur. Nothing here is a recommendation to buy or sell any asset. Always do your own research and consider consulting a licensed professional before making financial decisions. Figures are accurate as of June 30, 2026, and will change.

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.

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The trader's latest Ethereum liquidation came without a fresh deposit to backstop it, a first in a months-long losing streak tracked onchain.

Machi Big Brother, one of Hyperliquid's most-liquidated traders, was liquidated again on an Ethereum long and has now lost more than $80 million on the onchain derivatives exchange since September, according to onchain analytics firm Arkham.

Arkham said the trader, whose real name is Jeffrey Huang, was liquidated for $341,000 on an ETH position, taking his cumulative losses on Hyperliquid to $80.43 million since September 2025. To raise margin, Huang has been selling his Bored Ape Yacht Club NFTs; blockchain tracker Lookonchain reported he sold 34 of the NFTs over the past month for 326 ETH, about $514,000, realizing a loss of roughly 399 ETH, or about $631,000. His Hyperliquid balance has fallen to around $81,000.

What stands out about the latest hit is that, by Arkham's account, it is the first time Huang has been liquidated without immediately topping up his account. Earlier liquidations in the streak were repeatedly followed by fresh deposits. His run has become one of the most visible cautionary tales of the leverage that has driven Hyperliquid's rise, where the public order book turns each forced exit into a spectacle. It echoes the run of James Wynn, another Hyperliquid trader whose leveraged bets drew crowds hunting his liquidation levels before his account was ground down.

A Months-Long Losing StreakHuang's losses have tracked Ether's decline. ETH trades near $1,578, down about 21% over the past 30 days, roughly matching Bitcoin's 20% drop over the same stretch, according to CoinGecko. Measured from September, when Huang began the streak, the slide is far steeper: ETH has fallen by about two-thirds from the roughly $4,700 it traded at then.

Lookonchain has counted hundreds of separate liquidations across Huang's account, a tally that earned him the nickname "King of Liquidations." His Hyperliquid profits peaked at about $44.8 million in September 2025 before the position turned, on-chain trackers say. He had drawn margin for some of the recent trades from a PleasrDAO treasury wallet funded years earlier.

The NFT sales have crystallized steep losses on assets bought at the top of the 2021 market. The largest single loss Lookonchain flagged was Bored Ape #6057, which Huang bought roughly four years ago for 76.84 ETH and sold for 7.65 wrapped ETH, an ETH-denominated loss of about 90%. At his peak, Huang held more than 200 Bored Ape Yacht Club NFTs.

Onchain data only reflects wallets that trackers have identified, so the figures capture activity on Hyperliquid and tagged NFT sales rather than Huang's full net worth. Holdings on other platforms or in unlabeled wallets would not appear, and the question of whether he is "out of money," as Arkham put it, cannot be answered from public data alone.

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.

After failing to maintain the recovery rally that peaked close to the 200-day moving average, Bitcoin is still under a lot of pressure. The longer-term bearish structure was validated by the $82,000 rejection, which also set off another wave of selling that drove Bitcoin back toward $58,000. 

The situation is still weak technically. Bitcoin is currently trading below the 50, 100, and 200-day moving averages, all of which are still declining. This alignment usually indicates that sellers are in control over a number of time periods. While RSI is close to oversold territory and has not produced a strong bullish divergence, volume has not shown any indications of significant accumulation. 

The most important level to keep an eye on is the most recent low of $57,000 to $58,000. A more severe decline would be possible if it were lost. For the time being, any upward movement appears to be more of a relief bounce than the beginning of a long-term trend reversal.

HOT Stories

Stellar is avoiding a bear trendXLM is still one of the few large-cap tokens that is holding close to its moving averages in spite of the overall weakness of the market. The token recently saw a huge surge that drove it above the 200-day moving average and generated a significant amount of trading activity. 

The price is currently testing the cluster of the 50, 100, and 200-day moving averages around the $0.18–$0.19 zone after sharply retracing from local highs near $0.30. Bulls and bears now use this region as a crucial battlefield. The fact that XLM's longer-term structure has not entirely collapsed is a plus. In contrast to Bitcoin, Stellar still has an opportunity to reach a higher low if buyers hold onto the present support levels. 

XLM/USDT Chart by TradingViewThere is less speculative excess in the market as a result of the RSI cooling from overbought conditions. If XLM is able to hold above $0.18, it may be able to stabilize and try to push higher again. However, a breakdown below that range would probably invalidate a large portion of the recent breakout and return the asset to a wider downtrend.

The asset broke out of a descending triangle pattern after consolidating above important support levels for several months. It is currently trading close to $1.03, which is dangerously close to the psychological $1 mark. The breakdown in and of itself is significant. XRP consistently printed lower highs while defending the $1.30 support zone throughout March, April, and May. 

Sellers eventually outnumbered buyers, which caused a sharp decline below support. The move accelerated the downward momentum and validated the bearish structure. 

XRP remains alertedXRP is still in a precarious position technically. The price is moving below the downward-sloping 50-, 100-, and 200-day moving averages. 

This alignment typically indicates a long-term downward trend as opposed to a brief correction. Buyers have not regained control, as evidenced by the rejection of each recovery attempt over the past few weeks near moving-average resistance. Currently, $1.00 is the most crucial level. In addition to being a significant psychological barrier, it is also one of the final significant support areas before XRP moves into a region where past purchasing activity becomes significantly less frequent. 

XRP/USDT Chart by TradingViewAnother wave of liquidations and panic selling would probably result from a breakdown below $1, particularly among traders who have been anticipating a recovery from current levels. Although RSI is getting close to oversold territory, a convincing reversal signal has not yet been generated. 

This does not necessarily mean that a bottom has formed, even though it implies that downside momentum may be slowing. The road ahead is simple but challenging for bulls. To refute the current bearish trend, XRP must eventually return above the broken $1.30 support area and at least recover the 50-day moving average around $1.13. 

Until then, rallies are probably not going to be seen as the beginning of a recovery, but rather as opportunities for sellers. The medium-term course of XRP may be decided in the next few days. A relief bounce is possible if $1 holds. If it does not hold, the market might experience another painful decline.

Hyperliquid makes hasteDespite the recent correction, Hyperliquid is still one of the market's best-performing assets. In contrast to the majority of cryptocurrencies, HYPE is still firmly above its major moving averages and maintains a more expansive bullish structure. HYPE entered a phase of increased volatility after rising from below $30 earlier this year to highs above $75. The asset went through a number of significant corrections, but buyers kept intervening before the trend could fully collapse. 

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After yet another rejection from local highs, HYPE is currently trading close to $65. The pullback may seem alarming, but the chart remains positive. The 100-day and 200-day averages are still much lower, indicating the strength of the underlying trend, while the 50-day moving average at $64 continues to serve as immediate support. Several tests have already been conducted on the rising trendline that sustained the advance throughout the spring. 

During times of volatility, the price briefly fell below it, but buyers soon regained control, averting a more significant structural breakdown. There is a significant decrease in momentum. After being in overbought conditions for weeks, the RSI has declined toward neutral territory. Since it eliminates excessive speculation without ruining the uptrend, this reset is actually beneficial to the market. 

The 50-day moving average is the crucial level to monitor. Another attempt to reach the $70-$75 range is still possible if HYPE can stay above it. The likelihood of a deeper retracement toward the 100-day moving average around $53 would rise in the event of a break below that level. HYPE is one of the few significant assets that is currently exhibiting a bullish market structure. The current correction does not appear to be the start of a full trend reversal, but rather consolidation following an explosive rally.

Survey: 88% of enterprises plan to adopt stablecoins within the next year, with cross-border payment costs reduced by an average of 35%.

Payment infrastructure company Cybrid has released a new survey report indicating stablecoins are rapidly gaining traction in enterprise payment scenarios. The survey found that 42% of participating enterprises already use stablecoins for cross-border payments, while 88% said they are likely or very likely to adopt stablecoins within the next 12 months—only 2% of firms stated they will continue to rely entirely on traditional payment systems. According to the report, enterprises using stablecoins save an average of 35% on cross-border payment costs, with firms processing over $100 million in monthly payments achieving an average cost reduction of 47%. Payroll and contractor payments represent the most prominent use case, followed by supplier payments, customer payments, investment and revenue management, and treasury management, among others. Additionally, 71% of respondents identified a clear regulatory framework as the primary factor driving further mainstream adoption of stablecoins, outranking considerations such as infrastructure provider credibility and system integration. The survey was conducted from April to May this year, covering 468 senior executives from tech, financial services, and e-commerce sectors in the United States, Canada, and the United Kingdom.

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FalconX secures EU MiCA license, allowing it to offer compliant crypto services to institutional clients in Europe.

Institutional digital asset broker FalconX announced it has obtained the EU’s Markets in Crypto-Assets (MiCA) license issued by the Malta Financial Services Authority (MFSA), enabling it to provide compliant digital asset trading, custody, liquidity and related institutional services across the European Union (EU) and European Economic Area (EEA). FalconX stated that this license allows it to operate across EU member states under a unified regulatory framework, eliminating the need for individual country-specific licenses. Currently, the firm serves over 2,000 institutional clients worldwide, including asset management firms, hedge funds, banks and family offices, with cumulative transaction volumes exceeding $2.5 trillion and over $8 billion in institutional financing disbursed. FalconX noted that as the MiCA regulatory framework is fully implemented, institutional clients’ demand for compliant trading, custody and liquidity services continues to grow, and regulatory credentials are becoming a key competitive advantage in Europe’s digital asset market.

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Guo Wengui sentenced to 30 years in prison in connection with a fraud case involving over $1 billion.

A US court has sentenced Miles Guo (also known as Ho Wan Kwok) to 30 years in prison. In 2024, a jury convicted Guo on multiple charges including racketeering, fraud, and money laundering, with his formal sentencing now issued. Prosecutors stated that Guo defrauded over $1 billion from global victims through a series of related scam schemes spanning five years. Notably, in 2021, he promoted the cryptocurrency project Himalaya Coin (H-Coin), claiming the tokens were backed by 20% gold reserves and promising to cover all investors’ losses, raising approximately $500 million in total. Additionally, the court previously ordered the forfeiture of nearly $900 million in Guo’s illegal proceeds, as well as his luxury mansion in New Jersey and multiple high-end vehicles. Guo had close ties to Steve Bannon, a former senior advisor to US President Donald Trump; Bannon was arrested in 2020 aboard Guo’s yacht.

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The first-half 2026 funding rankings have been released, with Kalshi and Polymarket raising a combined $1.8 billion.

According to statistics, the 14 largest global funding rounds in the first half of 2026 raised a total of $4.3 billion, with prediction markets, AI, and payment sectors drawing the most investor interest. Specifically, prediction market platform Kalshi topped the list with a $1.2 billion funding round, while Polymarket secured $600 million—together, the two raised $1.8 billion, accounting for over 40% of the total capital of the top 14 rounds. In the AI space, Replit, Exa AI, and OpenRouter closed funding rounds of $400 million, $250 million, and $113 million respectively. For blockchain projects, Canton Network, Arc, and Morpho raised $355 million, $222 million, and $175 million respectively. Meanwhile, payment, RWA, infrastructure, and compliance projects including Rain, Slash, Goldcom, Alpaca, and Elliptic also featured on the list.

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Open Standard launches stablecoin Open USD, with over 140 institutions including Visa, BlackRock, and Coinbase participating.

Open Standard has announced the launch of Open USD (OUSD), a new stablecoin for global fund flows, noting that over 140 enterprises have joined its ecosystem, including financial, payment, and crypto industry players such as Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana, and Polygon. According to the introduction, Open USD follows three core design principles: supporting zero-cost, large-scale minting and redemption for enterprises; returning all reserve asset yields to partners after deducting a small management fee; and being governed by a board of directors composed of independent firm Open Standard and its partners, rather than controlled by a single issuer. Open Standard states that Open USD will officially launch later this year, with the goal of building an open, low-cost, high-throughput stablecoin infrastructure with a sharing economy mechanism to meet the needs of the internet economy and global enterprise-level payments.

3 hours ago

Pump.fun is discontinuing support for its tokenized agent issuance feature, stating it will focus on optimizing retail user trading experience.

Pump.fun announced it will immediately cease support for its Tokenized Agent token issuance feature. The feature will no longer be available for new token launches, though projects that have already activated it will remain unaffected. The platform noted that over recent months, consistent community feedback has pointed out that excessive issuance options have sparked unnecessary user vs. user (PVP) competition. Moving forward, Pump.fun will prioritize issuance models and product features that explicitly enhance retail trading experiences.

3 hours ago

Survey: 88% of enterprises plan to adopt stablecoins within the next year, with cross-border payment costs reduced by an average of 35%.

Payment infrastructure company Cybrid has released a new survey report indicating stablecoins are rapidly gaining traction in enterprise payment scenarios. The survey found that 42% of participating enterprises already use stablecoins for cross-border payments, while 88% said they are likely or very likely to adopt stablecoins within the next 12 months—only 2% of firms stated they will continue to rely entirely on traditional payment systems. According to the report, enterprises using stablecoins save an average of 35% on cross-border payment costs, with firms processing over $100 million in monthly payments achieving an average cost reduction of 47%. Payroll and contractor payments represent the most prominent use case, followed by supplier payments, customer payments, investment and revenue management, and treasury management, among others. Additionally, 71% of respondents identified a clear regulatory framework as the primary factor driving further mainstream adoption of stablecoins, outranking considerations such as infrastructure provider credibility and system integration. The survey was conducted from April to May this year, covering 468 senior executives from tech, financial services, and e-commerce sectors in the United States, Canada, and the United Kingdom.

3 hours ago

FalconX secures EU MiCA license, allowing it to offer compliant crypto services to institutional clients in Europe.

Institutional digital asset broker FalconX announced it has obtained the EU’s Markets in Crypto-Assets (MiCA) license issued by the Malta Financial Services Authority (MFSA), enabling it to provide compliant digital asset trading, custody, liquidity and related institutional services across the European Union (EU) and European Economic Area (EEA). FalconX stated that this license allows it to operate across EU member states under a unified regulatory framework, eliminating the need for individual country-specific licenses. Currently, the firm serves over 2,000 institutional clients worldwide, including asset management firms, hedge funds, banks and family offices, with cumulative transaction volumes exceeding $2.5 trillion and over $8 billion in institutional financing disbursed. FalconX noted that as the MiCA regulatory framework is fully implemented, institutional clients’ demand for compliant trading, custody and liquidity services continues to grow, and regulatory credentials are becoming a key competitive advantage in Europe’s digital asset market.

3 hours ago

Guo Wengui sentenced to 30 years in prison in connection with a fraud case involving over $1 billion.

A US court has sentenced Miles Guo (also known as Ho Wan Kwok) to 30 years in prison. In 2024, a jury convicted Guo on multiple charges including racketeering, fraud, and money laundering, with his formal sentencing now issued. Prosecutors stated that Guo defrauded over $1 billion from global victims through a series of related scam schemes spanning five years. Notably, in 2021, he promoted the cryptocurrency project Himalaya Coin (H-Coin), claiming the tokens were backed by 20% gold reserves and promising to cover all investors’ losses, raising approximately $500 million in total. Additionally, the court previously ordered the forfeiture of nearly $900 million in Guo’s illegal proceeds, as well as his luxury mansion in New Jersey and multiple high-end vehicles. Guo had close ties to Steve Bannon, a former senior advisor to US President Donald Trump; Bannon was arrested in 2020 aboard Guo’s yacht.

3 hours ago

The first-half 2026 funding rankings have been released, with Kalshi and Polymarket raising a combined $1.8 billion.

According to statistics, the 14 largest global funding rounds in the first half of 2026 raised a total of $4.3 billion, with prediction markets, AI, and payment sectors drawing the most investor interest. Specifically, prediction market platform Kalshi topped the list with a $1.2 billion funding round, while Polymarket secured $600 million—together, the two raised $1.8 billion, accounting for over 40% of the total capital of the top 14 rounds. In the AI space, Replit, Exa AI, and OpenRouter closed funding rounds of $400 million, $250 million, and $113 million respectively. For blockchain projects, Canton Network, Arc, and Morpho raised $355 million, $222 million, and $175 million respectively. Meanwhile, payment, RWA, infrastructure, and compliance projects including Rain, Slash, Goldcom, Alpaca, and Elliptic also featured on the list.

3 hours ago

Open Standard launches stablecoin Open USD, with over 140 institutions including Visa, BlackRock, and Coinbase participating.

Open Standard has announced the launch of Open USD (OUSD), a new stablecoin for global fund flows, noting that over 140 enterprises have joined its ecosystem, including financial, payment, and crypto industry players such as Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana, and Polygon. According to the introduction, Open USD follows three core design principles: supporting zero-cost, large-scale minting and redemption for enterprises; returning all reserve asset yields to partners after deducting a small management fee; and being governed by a board of directors composed of independent firm Open Standard and its partners, rather than controlled by a single issuer. Open Standard states that Open USD will officially launch later this year, with the goal of building an open, low-cost, high-throughput stablecoin infrastructure with a sharing economy mechanism to meet the needs of the internet economy and global enterprise-level payments.

3 hours ago

Pump.fun is discontinuing support for its tokenized agent issuance feature, stating it will focus on optimizing retail user trading experience.

Pump.fun announced it will immediately cease support for its Tokenized Agent token issuance feature. The feature will no longer be available for new token launches, though projects that have already activated it will remain unaffected. The platform noted that over recent months, consistent community feedback has pointed out that excessive issuance options have sparked unnecessary user vs. user (PVP) competition. Moving forward, Pump.fun will prioritize issuance models and product features that explicitly enhance retail trading experiences.

3 hours ago

TradingView, the charting platform used by millions of traders worldwide, has added native support for Hyperliquid trading pairs. Symbols like HYPEUSD now appear directly in TradingView’s interface, ready for technical analysis alongside data from Coinbase, Binance, and every other major venue.

Here’s the thing: TradingView categorized Hyperliquid as a centralized exchange. The platform that built its entire identity on being decentralized and non-custodial is now sitting in the same bucket as Binance and Kraken in TradingView’s taxonomy.

A DEX wearing a CEX label Hyperliquid operates as a Layer-1 blockchain purpose-built for trading. It runs a fully on-chain central limit order book with gasless orders and sub-second transaction finality. Users never surrender custody of their assets.

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Alongside Hyperliquid’s own data, TradingView also sources pricing from oracles like Pyth, giving traders multiple reference points for the same assets.

Hyperliquid’s numbers tell the story Open interest on the platform hit $8.9 billion in May 2025. That figure represents roughly 8.3% of aggregate perpetual open interest across the entire crypto derivatives market.

The platform now offers over 300 markets spanning cryptocurrencies, equities, commodities, and indices with leverage options reaching 40-50x.

The HYPE token, which powers governance and fee distribution within the ecosystem, carries a market capitalization of approximately $16.6 billion with prices around $65.

What this means for traders and the broader market Third-party automation tools already exist that connect TradingView alerts directly to Hyperliquid order execution. With native charting now available, the pipeline from analysis to trade becomes even more seamless. A trader can spot a setup on a TradingView chart and route the order to Hyperliquid without the friction of switching between platforms or manually replicating chart data.

The risk calculus isn’t gone. Hyperliquid’s on-chain architecture introduces smart contract risk and potential vulnerabilities that don’t exist on traditional centralized platforms. Its rapid growth also means the system hasn’t been stress-tested across every conceivable market condition. And the CEX label from TradingView, while flattering in terms of perceived quality, might create confusion among traders who assume centralized custodial protections apply when they don’t.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.