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Industry analysts project that the cost of the iPhone 18 Pro will surge by nearly 40%, and Apple may adjust its gross margin strategy to ensure stable shipments.

According to TrendForce's latest mobile industry research, rising prices of components led by memory chips have pushed up the overall production cost of Apple's upcoming iPhone 18 series. The research firm estimates that the production cost of the 256GB iPhone 18 Pro in the third quarter will be roughly 38% higher than that of the same model launched in the same period in 2025. In 2027, as memory prices are projected to stay on an upward trajectory, the cost increase for the 256GB iPhone 18 Pro may expand further.

2 minutes ago

JPMorgan Chase: Still Bullish on Global Stock Markets, Cyclical Stocks to Lead the Rally

JPMorgan strategists remain bullish on global equities, expecting the rally to broaden in the second half of the year. As corporate earnings and economic activity metrics improve, cyclical stocks are poised to regain leadership and outperform low-volatility shares. The team led by Mislav Matejka wrote in a report that indices will hit new highs in the second half, adding that positioning is far from extreme and the Q2 earnings season has been reassuring. Within cyclical sectors, they focus on banks, luxury goods, construction materials, mining, industrials and cyclical consumer industries, while favoring emerging markets and the eurozone.

2 minutes ago

Elliott Alexander, a member of the Ethereum Foundation, has joined BitPay after being laid off.

Former member of the Ethereum Foundation’s Developer Growth Team, Elliott Alexander, announced in a post that he was recently laid off by the Ethereum Foundation and has now joined crypto payment firm BitPay.

2 minutes ago

Japan and South Korea's stock markets closed higher on Monday.

According to Bitget market data, the Nikkei 225 index closed up 1363.51 points, or 2.08%, at 66,970.22 on Monday, August 10. South Korea’s KOSPI index rose 0.65% to end at 6,299.66 on the same day; SK Hynix fell 0.14% while Samsung Electronics dropped 0.43%.

2 minutes ago

The 'Big Short' Michael Burry No Longer Views Berkshire Hathaway as an Attractive Future Investment

The "Big Short" Michael Burry has stated that his biggest concern about Berkshire Hathaway was that when Warren Buffett eventually steps down, his successor would be too old and not Buffett himself, hence would lack the same patience to wait for the "best pitch". "I believe this concern has materialized," he said. "Looking ahead, I do not consider Berkshire an attractive investment anymore."

2 minutes ago

Analysis: Stablecoin market cap has shrunk by nearly $15 billion since May, as liquidity continues to exit the crypto market.

CryptoQuant analyst Darkfost stated in a post that since May, the total market capitalization of stablecoins has shrunk by nearly $150 billion, falling from roughly $2.8 trillion to $2.66 trillion. He noted that from last October to this May, the total stablecoin market cap remained largely sideways, meaning either no new liquidity entered the crypto market during that period, or the scale of new liquidity was insufficient to drive further growth in stablecoin market capitalization. At present, even if Bitcoin (BTC) can stabilize, market demand has not recovered, and insufficient liquidity is limiting BTC from making another upward breakthrough. Meanwhile, the continuous decline in stablecoin market cap since May reflects not only a lack of new capital in the market, but more likely that existing liquidity is gradually exiting the crypto market. In this scenario, even if BTC temporarily stops its decline, it still faces pressure from insufficient capital demand.

2 minutes ago

Despite a significant spike in volatility in late July, Shiba Inu is still trading within a dominant downtrend. As of right now, SHIB is trading close to $0.00000462; a convincing structural reversal has not been established despite the recent rebound. The rejection around $0.00000500 is the biggest issue. 

Shiba Inu's burst of buying supportAt the end of July, SHIB momentarily burst above this region, reaching about $0.0000058, but buyers were unable to sustain the breakout. 

A significant portion of the move was erased by the subsequent retracement, which brought SHIB back below its longer-term moving average at $0.00000497. The price has some short-term support below it. There is a comparatively small technical support zone around $0.00000446-$0.00000464, where the faster moving averages are concentrated. 

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SHIB/USDT Chart by TradingViewAnother attempt at recovery would be feasible if it remained above $0.00000445. On the other hand, a breakdown would reveal the July consolidation around $0. 00000410-$0. 00000420. The momentum is not very weak. After cooling from the late-July spike, the daily RSI is now close to 56. As a result, SHIB is in neutral to positive territory and is not getting close to being overbought. 

Participation is the issue: volume increased significantly during the first breakout but has since decreased. $0.00000500 must become support rather than resistance if SHIB is to significantly strengthen its structure. Reopening $0. 0000055 and eventually the 200-day moving average close to $0. 00000588 could result from a sustained move through that level.

Until then, SHIB is still torn between a much weaker long-term trend and improving short-term momentum. Buyers are still able to make aggressive moves, but they haven't yet proven they can hold them, as the late July rally demonstrated.

Solana's stabilization attemptsAfter months of intense selling pressure, Solana is making an effort to stabilize, but buyers still face a substantial technical obstacle on the daily chart. SOL is currently trading at $76. 46 after rising from the low of $62-$63 in June. 

$78 to $79 is the current battleground. Since July, SOL has frequently struggled in the vicinity of $78. 54, which is the location of the longer intermediate moving average. The asset would finally start to break away from the cluster of shorter-term averages if there was a daily breakout above it. 

SOL/USDT Chart by TradingViewThe faster averages of $74.83 and $75.38 are already exceeded by SOL. This provides the present recovery with a technical basis. 

While its signal line is still at about 45.9, RSI has also increased to about 55. 6. As a result, momentum slightly favors buyers, but there is no extreme reading indicating that a significant breakout has already begun. 

There are still issues with the broader trend. SOL's 200-day moving average, which is significantly above the market price, is still falling close to $90. 40. Therefore, rather than confirming a new significant uptrend, even a breakout above $79 would initially indicate an improvement in the medium-term structure. 

The next significant region is between $84 and $86, where SOL spent a significant amount of time consolidating earlier this year, if buyers clear $79. $90-$91 becomes the main test after that. The current setup would be weakened if the $74-$75 moving-average cluster were to disappear, which could push SOL closer to $70. 

Hyperliquid gains more tractionFollowing its correction from the June-July highs, hyperliquid is getting close to a critical point. At $54.54, HYPE is currently trading between multiple layers of resistance and significant long-term support. 

There has been a significant adjustment. In early August, HYPE lost its bullish sequence and fell toward $52 after repeatedly hitting the $72-$76 range. Two moving averages are currently concentrated around $56-$57, where the most recent bounce has faltered. The first significant barrier for buyers is these levels, which are close to $56.73 and $57.30. 

HYPE/USDT Chart by TradingViewMore significantly, HYPE is still below the blue moving average at $61.58. Therefore, recovering $57 would enhance the setup right away, but a move above $61-$62 would offer much more convincing proof that the correction is coming to an end. 

The 200-day moving average at $50.69 is currently a key component of the bullish argument. It hasn't been broken and is still rising. As a result, the overall structure is much healthier than what the short-term price action indicates. HYPE can still view the current drop as a significant correction within its larger recovery as long as $50-$51 endures.  

RSI is below the neutral 50 threshold at about 42. 5. In comparison to the explosive activity that accompanied the May-June rally, trading volume has also drastically decreased. The technical picture would rapidly worsen if HYPE lost $50, possibly exposing $46-$48. 

On the other hand, recovering $57 and then $61. 50 would allow bulls to aim for $65–$67. Although HYPE is still technically vulnerable for the time being, the chart cannot become clearly bearish due to the rising 200-day support. 

Binance Coin's unexpected riseWith BNB rising to about $603.92 and trying to break through a significant moving-average barrier, Binance Coin is generating one of its more profitable short-term setups in recent months. Particularly significant is the $602-$604 range. After spending the majority of June and July below its orange moving average, BNB has now reached it at roughly $602.20. 

A verified daily close above this range might indicate a significant change in medium-term momentum. Around $584.41 and $575.11, BNB is trading comfortably above moving averages. Since the July low, price action has printed a series of higher lows. 

BNB/USDT Chart by TradingViewThe current move has progressed gradually rather than through a single unsustainable spike, in contrast to a number of earlier attempts at recovery. Momentum supports that progress. 

The daily RSI has risen to roughly 64.4 and is still above its signal line at 56.1. BNB is now firmly in bullish territory, but it hasn't yet crossed the traditional overbought threshold, which is around 70. 

The general downward trend hasn't gone away, though. The 200-day moving average is still sloping downward and is significantly higher at about $646. 66. That level is the most noticeable technical barrier. 

Buyers would still need to get past about $620 and then $645-$650 before the larger structure could become convincingly bullish, even if BNB established itself above $602. The first significant support on the downside is $584. 

A move below $575 would seriously threaten the current recovery structure, while losing it would weaken the breakout attempt. As a result, BNB is gaining momentum and making a legitimate breakout attempt; however, $602 needs to be confirmed. Above it, the much more significant $645-$650 resistance zone is open to market challenge.

7 hrs ago

4 min read

Hyperliquid has never traded more contracts, and it has never kept a smaller share of the money those contracts earn

Open interest, the total value of leveraged positions traders hold at one time, climbed to just above $11 billion on July 13, the platform's highest in 2026. Hyperliquid’s perpetual futures volume over the past 30 days ran to nearly $178 billion. Hyperliquid now settles roughly 9% of all open perp positions worldwide, centralized exchanges included, up from under 7% in late May.

But the platform’s revenue has gone the other way. Gross protocol revenue peaked at roughly $357 million in the third quarter of 2025 and has fallen every quarter since, to nearly $295 million, then roughly $217 million, then about $202 million in the second quarter of 2026, DefiLlama data shows. That is a 43% drop from the top, booked while the trade count climbed.

Hyperliquid Improvement Proposal (HIP-3) helps explain why Hyperliquid is keeping less of the activity it attracts. Since October 2025, anyone who stakes 500,000 HYPE, worth about $28 million at current prices, can deploy their own perpetual futures market on Hyperliquid's order books and keep up to half the trading fees.

At the start of 2026 these builder-deployed markets were about 2% of Hyperliquid's perp volume. They are now roughly half of it.

The pass-through shows up in the accounts. Cost of revenue, the portion of fees Hyperliquid hands straight back to builders, market makers and its own liquidity vault, was under 6% of gross revenue in the second quarter of 2025. A year later it was 18%.

Builder code fees, which front-ends like Phantom charge on top for routing an order, arrived at roughly $16 million of revenue in the second quarter and left as roughly $16 million of cost in the same quarter. Every dollar of it passes through.

Traders keep showing up because of what those builder markets list. Real-world asset perps, contracts on things like crude oil, gold, Nvidia, Tesla, a Nasdaq-100 tracker and pre-IPO names like SpaceX, hit a record $3.6 billion in open interest this month and overtook bitcoin as the platform's largest market by that measure.

Between July 13 and July 19, tokenized stocks and commodities did $25 billion in volume, 52% of the weekly total, outpacing crypto perps for the first time. The contracts settle in stablecoins, never expire, and trade through the weekend when the New York Stock Exchange is shut. A product such as leveraged Nvidia exposure, at 2 a.m. on a Sunday, has few other homes.

That growth sits largely on one set of shoulders. Trade.xyz accounts for more than 90% of all HIP-3 open interest, which means Hyperliquid's record numbers depend on a single deployer's oracle choices, margin settings and risk management.

The risk in that arrangement showed earlier this week on Monday, when a single trade on a thin Korean pre-market venue dropped Trade.xyz's SK Hynix contract 19% and triggered liquidations the firm has since agreed to reimburse.

Hyperliquid routes about 97% of trading fees into its Assistance Fund, which buys the token on the open market and retires it, taking roughly 44.5 million HYPE out of the total supply so far. The buyback is a fixed share of earnings, so it contracts when earnings contract. The fund bought nearly $290 million of HYPE in the third quarter of 2025. In the second quarter of 2026 it bought roughly $149 million, close to half as much.

HYPE traded near $55 on Friday, down 5% on the week and roughly 28% below the June 16 record near $77, CoinDesk data show. Annualized earnings of about $785 million put the token at roughly 16 times its circulating market value and about 70 times fully diluted.

Institutional holders including Multicoin Capital and Bitwise have moved sizeable amounts of HYPE to exchanges over the past month.

The ecosystem around it is thinner than a top-15 ranking suggests. Of the 48 tokens CoinGecko tracks in the Hyperliquid category, HYPE accounts for almost all of the value. The next two, Ethena's USDe at about $4.5 billion and USDT0 at roughly $4 billion, are stablecoins issued elsewhere and bridged in. The largest natively built token is PURR at about $53 million, under half a percent of HYPE. The market still values HYPE largely on Hyperliquid’s exchange economics rather than a broad base of native applications.

Supply and regulators press from the other side. Nearly 10 million HYPE unlocked to core contributors on Aug. 6, about $550 million at current prices, one of a monthly series running through 2027 against a circulating supply of only 222 million.

Spot HYPE ETFs posted their first weekly outflow in the week to July 17, roughly $7 million, ending a nine-week inflow run. Singapore's MAS added the platform to its investor alert list in late June, following earlier U.K. warnings, and CME and ICE executives have pushed the CFTC to review its commodity perps.

Meanwhile, competition has arrived from an unexpected direction. Robinhood Chain, the brokerage's month-old network, has been clearing more than $600 million in daily decentralized-exchange volume on memecoin trading, and by some measures now draws more daily speculative activity than Hyperliquid does.

None of which is the same as saying the business is failing. ARK research put Hyperliquid and Pump.fun together at 67% of all crypto application revenue as of July 31, and Grayscale has compared the platform to Amazon Web Services, a place where outside developers build the products while the operator takes a cut of everything traded.

That comparison contains the problem. Hyperliquid booked roughly $45 million in gross revenue through the first four weeks of the third quarter. Hold that pace and the quarter lands near $150 million, a fourth straight decline, and the bid under HYPE thins with it.

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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.

Jun 30, 2026

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.

Hyperliquid has crossed 263,419 active perpetual futures traders, a number that would have been unthinkable for a decentralized exchange just two years ago. The platform now accounts for up to 69% of all on-chain perpetual daily active users.

Perpetual futures are the single most traded instrument in crypto. They let traders bet on price movements with leverage and no expiration date.

The numbers behind the dominance Open interest on Hyperliquid sits between $8.97B and $10.55B. Monthly active traders have topped 274,000 in recent snapshots, suggesting the 263,419 figure represents a consistent baseline rather than a spike.

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The platform offers more than 300 perpetual and spot markets spanning crypto, commodities, and indices. Traders can access synthetic exposure to traditional assets around the clock, something legacy markets still can’t offer without significant infrastructure.

Hyperliquid runs on its own Layer-1 blockchain, using a custom consensus mechanism called HyperBFT. Everything happens on-chain and non-custodially, which means traders hold their own keys throughout the process.

From quant desk to crypto infrastructure The platform was founded in 2023 by Jeff Yan, who previously worked as a quantitative trader at Hudson River Trading, one of Wall Street’s most prominent high-frequency trading firms. That pedigree shows up in Hyperliquid’s design philosophy: capital efficiency, low latency, and the kind of order book mechanics that institutional traders expect.

The HYPE token launched through a community airdrop in 2024, a distribution method that avoided the typical venture capital unlock schedule that tends to create persistent sell pressure. The token powers governance, staking, and fee mechanisms across the ecosystem.

Why perpetual futures keep eating crypto Hyperliquid’s rise has coincided with increased regulatory scrutiny of offshore centralized platforms. As governments tighten rules around entities like Binance and OKX, traders who want fewer counterparty risks and more transparent execution have gravitated toward decentralized alternatives.

Traders can get exposure to commodities or equity indices at 3 AM on a Sunday through Hyperliquid’s support for tokenized or synthetic perpetuals on traditional assets. This 24/7 availability, combined with high leverage options, makes Hyperliquid particularly attractive to active traders.

Hyperliquid’s decision to build a dedicated Layer-1 rather than deploy on an existing chain has given it performance advantages that application-layer protocols struggle to match. Protocols like dYdX and GMX continue to iterate on their own perpetual products against this backdrop.

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

Fomo, the social trading app built on Solana, posted higher 24-hour revenue than Hyperliquid according to DefiLlama data. For a platform that only launched perpetual futures trading in June 2026, overtaking a protocol that crossed $1B in cumulative revenue by midyear is the kind of flex that turns heads.

To be clear, this isn’t a case of Fomo suddenly becoming larger than Hyperliquid. Hyperliquid has recorded single-day revenues as high as $6.84M during peak periods and regularly posts daily figures in the millions. But Fomo’s ability to even momentarily match or exceed that output, with recent 24-hour revenue fluctuating between $150K and $400K and peaking near $399K, tells an interesting story about where DeFi user attention is flowing.

How a social trading app competes with a perps giant Fomo is a self-custodial, gasless token swap app wrapped in a social layer, complete with feeds, leaderboards, and copy trading. The platform earns most of its revenue from transaction fees on Solana token swaps. In June 2026, Fomo added perpetual futures trading through partnerships with Hyperliquid and Trade.xyz. Those integrations let non-US users trade crypto, equities, pre-IPO stocks, indices, and commodities without leaving the app.

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The perps integration contributes a relatively modest slice of total revenue. Builder fees from Hyperliquid futures accounted for roughly $39K out of a recent $2.64M weekly haul. The real money machine remains Solana swaps, driven by raw transaction demand from a growing user base.

Fomo’s weekly revenue hit an all-time high of $2.64M for the week ending August 8, 2026. That figure placed it in the same conversation as established Solana heavyweights like Jupiter and Phantom, both of which Fomo has occasionally surpassed in weekly revenue during the summer.

The numbers behind the noise Fomo closed a $75M Series B funding round in June 2026, landing a $550M valuation. There’s no native governance token and no inflationary tokenomics propping up the numbers. Revenue comes directly from users making trades.

By June 2026, Fomo had attracted over 625,000 users and reported cumulative trading volumes north of $4B. For context, Hyperliquid crossed $1B in cumulative revenue by June 30, 2026. Hyperliquid’s daily revenues regularly exceed $3M.

For Hyperliquid, the dynamic creates an unusual relationship. Fomo is simultaneously a competitor in the revenue rankings and a customer that routes order flow through Hyperliquid’s infrastructure.

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

Hyperliquid’in yerel tokeni HYPE, son 24 saatte yüzde 2,12 değer kaybederek 55,79 dolar seviyesinde işlem görse de, ağdaki güçlü büyüme verileri ve kurumsal ilginin devam etmesi yatırımcıların dikkatini çekiyor. Temmuz ayında 75 doların üzerine çıkarak tarihi zirvesini gören HYPE, bu seviyelerin altında işlem görmeye devam ederken hem teknik göstergeler hem de ikinci çeyrek performansı olası bir toparlanma ihtimalini gündeme taşıyor.

Teknik göstergeler toparlanma ihtimalini destekliyor Günlük grafik incelendiğinde HYPE’nin uzun süredir devam eden satış baskısının ardından 57,5 dolar seviyesindeki önemli direnci yeniden test ettiği görülüyor. Fiyat henüz güçlü bir kırılım gerçekleştiremese de alıcıların mevcut bölgeyi koruması, daha sert geri çekilmelerin önüne geçiyor. MACD histogramının yeniden pozitif bölgeye geçmesi satış momentumunun zayıfladığına işaret ediyor. Bununla birlikte MACD çizgisinin halen sinyal çizgisinin altında bulunması nedeniyle yükseliş trendinin kesin olarak teyit edildiğini söylemek için erken olduğu belirtiliyor. Analistlere göre 57,5 dolar seviyesinin üzerinde kalıcılık sağlanması halinde 68 dolar bölgesi bir sonraki önemli direnç olarak öne çıkabilir.

İlginizi Çekebilir: Bu İki Altcoin’de Dev Borsa Çıkışları Var: Ralli Sinyali mi?

Hyperliquid ekosistemi ikinci çeyrekte güçlü operasyonel büyüme sergiledi. Wu Blockchain’in paylaştığı verilere göre platformun toplam işlem hacmi 213 milyar dolara ulaştı. Özellikle HIP 3 tabanlı gerçek dünya varlığı (RWA) sürekli vadeli işlem sözleşmelerinin payı yalnızca iki çeyrek içerisinde yüzde 1,8’den yüzde 32,2’ye yükseldi. Bu artış, yatırımcıların RWA tabanlı ürünlere olan ilgisinin hızla arttığını ve Hyperliquid’in bu alanda önemli bir konum elde ettiğini gösteriyor. Platform aynı dönemde yaklaşık 169 milyon dolar gelir elde ederken bunun yaklaşık 141 milyon dolarlık kısmını HYPE geri alımlarına ayırdı. Böylece protokolün bugüne kadar elde ettiği toplam gelir 1 milyar dolar seviyesini aşmış oldu.

Kurumsal yatırımcı ilgisi devam ediyor İkinci çeyrek boyunca piyasaya sürülen üç farklı HYPE ETF’si, Hyperliquid’e yönelik kurumsal ilgiyi destekleyen önemli gelişmeler arasında yer aldı. Bu ürünler sayesinde geleneksel yatırımcıların HYPE’a daha kolay erişebilmesi sağlanırken, kurumsal sermayenin ekosisteme girişinin de hız kazandığı görülüyor. Açıklanan verilere göre kurumsal fonlar ve bağlantılı hazine hesapları, HYPE toplam arzının yaklaşık yüzde 7,7’sini elinde bulunduruyor. Bu oran, kısa vadeli fiyat dalgalanmalarına rağmen büyük yatırımcıların projeye olan güvenini koruduğunu ve uzun vadeli pozisyon almaya devam ettiğini gösteriyor.

Öte yandan türev piyasalardaki hareketlilik de dikkat çekiyor. CoinGlass verilerinde açık pozisyonların yüksek seviyelerini koruması, yatırımcıların piyasadan tamamen çekilmek yerine pozisyonlarını taşımayı sürdürdüğüne işaret ediyor. Aynı zamanda DeFiLlama tarafından paylaşılan ağ aktivitesi verileri, Hyperliquid üzerindeki işlem hacmi ve kullanıcı faaliyetlerinin güçlü kalmaya devam ettiğini ortaya koyuyor. Tüm bu göstergeler birlikte değerlendirildiğinde, fiyat tarafındaki zayıf görünüme rağmen ekosisteme yönelik ilginin sürdüğü ve kurumsal katılımın Hyperliquid’in uzun vadeli büyüme beklentilerini desteklemeyi sürdürdüğü görülüyor.

57,5 dolar seviyesi kritik önem taşıyor Teknik görünüm ile temel veriler şu an için farklı sinyaller üretmeye devam ediyor. Ağ tarafındaki büyüme, artan işlem hacmi, RWA ürünlerinin yükselişi ve kurumsal yatırımcı ilgisi Hyperliquid ekosisteminin güç kazandığını gösterirken fiyat tarafında henüz güçlü bir yükseliş trendi oluşmuş değil. Bu nedenle piyasaların odağında 57,5 dolar seviyesi bulunuyor. Analistlere göre HYPE’nin bu direnci aşarak üzerinde kalıcılık sağlaması, yatırımcı güvenini artırabilir ve fiyatın yeniden 68 dolar bölgesine doğru hareket etmesinin önünü açabilir.

Son dakika kripto para haberleri için hemen tıkla

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Hyperliquid has struggled significantly to maintain an upward momentum. In fact, the recent attempt collapsed as the altcoin faced rejection at $57, resulting in another pullback.

As of this writing, Hyperliquid was trading at $54, down 3.3% on the daily charts. Before this slip, the altcoin had been on an upward trajectory, hiking by 4.9% on weekly charts.

HyperLabs unlocks $23 million worth of HYPE Even though Hyperliquid [HYPE] is experiencing strong downside pressure, Hyperlabs made a move that is likely to exacerbate it.

According to Lookonchain, HyperLabs unlocked another 433,025 HYPE worth $23.46 million. After the unlock, they have been gradually depositing these tokens into exchanges, including Flowdesk and OKX.

 The exchange deposit points towards preparation to sell. In the past, their deposits into exchanges have preceded selling.

Therefore, the recent move is likely to cause more pressure on HYPE, as the altcoin has recently exhibited some weakness.

Sellers hold firms as whales attempt to absorb pressure Hyperliquid whales have constantly come to rescue and have attempted to slow down the downside momentum. According to Onchain lens, a newly created wallet withdrew 197.36k HYPE worth $10.69 million from Coinbase.

This whale buying is a highly needed boost, especially as sellers have remained dominant in the market.

Looking at Hyperliquid Spot Buy Sell Volume, the market delta has remained negative for three consecutive days. Over the past day, for example, the altcoin’s sell volume rose to 297k compared to 229k in buy volume.

Source: Coinalyze As a result, the market delta dropped to -68k. A negative delta is a clear sign of strong selling pressure.

Therefore, if whales can maintain the accumulation, they could help in absorbing the pressure. In doing so, Hyperliquid will have a clear path for a potential rebound.

What momentum indicators suggest Hyperliquid sat under strong downward pressure, with sellers dominating the market. With HyperLabs also joining the sell side, the altcoin is under more pressure.

In fact, the altcoin’s Relative Strength Index (RSI) has remained within the bearish zone for three weeks. At 42, the RSI indicates that sellers are enjoying significant control of the market.

Source: Hyperliquid Even more so, the altcoin sits below the 50- SMA signaling strong short-term downside pressure. Taken together, these indicators reflect bearish pressure and signal the likelihood of extended market weakness. 

Therefore, if the selling pressure continues to dominate, Hyperliquid is likely to drop towards $51 despite the recent whale purchases. 

Final Summary HyperLabs unlocked another 433,025 HYPE worth $23.46 million and started exchange deposits, rising sell off concerns.  A newly created wallet withdrew 197.36k HYPE worth $10.69 million from Coinbase.

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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As the crypto market continues to show mixed price actions, Hyperliquid's development team, Hyperlabs, stirred reactions across the crypto market following a recent unlocking of HYPE tokens.

According to recent data shared by crypto analytics platform Lookonchain, Hyperlabs has unlocked a total of 433,025 HYPE tokens and has been dumping them on major crypto exchanges.

Is Hyperlabs selling?Following HYPE's current trading price, the total amount of tokens unlocked by the team is worth over $23 million, drawing attention from market watchers.

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Although the massive unlocking of the tokens does not reflect a bearish signal, the move became concerning after the team began to deposit portions of the unlocked tokens to exchanges like OKX and Flowdesk.

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While deposits to exchanges potentially indicate an intention to sell, the move has sparked speculation across the crypto community, although the team has yet to give further details about the purpose of its move.

With the move perceived as being bearish for HYPE's potential price move, it appears that momentum is cooling after the rapid price surge seen earlier this week.

HYPE supply pumpsBy unlocking some of the Hyperliquid tokens into circulation, the team has added to the supply of HYPE available in the market and could create additional selling pressure amid the ongoing market volatility.

Nonetheless, there are suggestions that the team may not have sold the tokens it unlocked, as exchange deposits do not solely confirm that Hyperlabs has sold the assets.

Market analysts predict that there is a good chance the team may have deposited the tokens for liquidity management or other operational purposes.

TLDR: The HYPE token unlock returns 433,025 tokens worth more than $23 million to Hyperlabs, with tracked transfers increasing concern about market supply. Wallet monitoring links 165,000 HYPE to Flowdesk and another 90,000 tokens to OKX and Bybit, while some tokens reportedly converted into USDC. HYPE trades at $54.76 after a 3.5% daily decline, as $1.83 million in long liquidations highlights pressure on bullish derivatives positions. The daily triangle maps $67.65 and $76.88 above resistance, while a confirmed lower-boundary break places $44.52 and $35.39 in focus. Hyperlabs has redeemed 433,025 HYPE from staking, placing more than $23 million of tokens under its control. The HYPE token unlock has drawn scrutiny after tracked wallets sent portions toward Flowdesk and exchanges.

On-chain monitor Lookonchain said the transfers likely signal selling, though wallet movements cannot confirm every token reached the market. HYPE price stood near $54.76, down 3.5% over 24 hours, inside a $53.65 to $56.94 range. 

The token now faces extra supply concerns while long liquidations dominate daily derivatives losses. This Hyperliquid price prediction places HYPE near a decision point inside a symmetrical triangle on the daily chart.

HYPE Token Unlock Sends Fresh Supply Toward Exchanges Lookonchain reported that Hyperlabs completed the redemption after the staking release process. The monitor initially valued the batch near $23.46 million. The on-chain update said the tokens were divided across nine wallets. Their routing drew attention from traders tracking potential exchange supply.

Monitoring then linked 165,000 HYPE, worth about $9.23 million, to Flowdesk. Market data shows 75,000 tokens converted into USDC on Hyperliquid. Another 90,000 tokens moved toward deposit addresses associated with OKX and Bybit. Flowdesk serves as a market maker, rather than a centralized exchange.

The HYPE token unlock includes confirmed transfers and inferred selling intentions. Exchange deposits make assets easier to sell but cannot establish their final use. Hyperlabs has not explained the activity’s full purpose. Operational liquidity, market making, or scheduled distribution could explain other transfers.

The release adds available supply during a weaker demand period. HYPE ETF products recorded roughly $15.16 million in July net outflows, according to SoSoValue data. Since July 15, the products logged two inflow days and about nine outflow days. That pattern reduces one channel that previously absorbed market supply.

Even so, the HYPE token unlock is small beside the token’s broader supply. There are 222.446 million HYPE circulating against a maximum of one billion. It also placed treasury holdings near 19.7 million tokens. Market trackers can differ as they classify circulating and vested holdings differently.

The market capitalization stood near $12.2 billion. Hyperliquid’s total value locked was about $6.27 billion, preserving its scale among decentralized derivatives platforms at the time.

HYPE Token Unlock Meets a Bearish Technical Outlook The Hyperliquid price prediction places HYPE inside a symmetrical triangle, where ascending support meets resistance. This structure signals compression, not a guaranteed direction. Volume must confirm a boundary break before the cited targets become active.

An upside breakout would expose $67.65, followed by $76.88. The chart’s Wolfe Wave projection then stretches toward $91 to $92. That scenario requires price to clear the upper boundary with sustained volume.

Source: TradingView Conversely, rejection at the upper trendline could return HYPE toward triangle support. A confirmed breakdown would place $44.52 in focus, followed by $35.39. HYPE price near $54 leaves both pathways unresolved. Price has not confirmed either outcome yet.

The HYPE token unlock adds fundamental pressure to this technical setup. Exchange-accessible coins can deepen supply near resistance. However, the impact depends on how quickly buyers absorb sales. Market-maker transfers may not reach public order books immediately.

CoinGlass data supports the cautious short-term tone. Twenty-four-hour liquidations totaled $2.10 million, including $1.83 million from longs. Shorts accounted for about $271,070 over the same window. The imbalance shows that falling prices punished bullish leverage more heavily.

Source: Coinglass Binance led futures volume at $406.74 million, followed by LBank at $287.71 million. Hyperliquid recorded $275.38 million, while MEXC and Bybit logged $193.48 million and $159.88 million. Concentrated activity can amplify reactions around triangle boundaries.

The HYPE token unlock coincided with a $53.65 daily low. Breaking that level would shift attention toward the triangle’s lower boundary. The boundary advances across the chart as the ascending trendline rises.

Hyperliquid (HYPE) is seeking to maintain a key support zone between $51 and $53, a level that could determine its short-term price trajectory. Despite a recent pullback, analysts are watching this area closely for signs of a bullish reversal if buying pressure intensifies.

Critical support zone in focusAt the latest available prices, HYPE is trading at $54.50 with a 24-hour volume of $312.72 million and a market capitalization of $13.76 billion. The token experienced a 3.01% decline over the last day, but market observers see continued growth in both price structure and network activity.

Crypto analyst Chiefrat identified the $53–$51 support region as essential for the next directional move, suggesting that HYPE may be forming Wave 4 in an Elliott wave sequence. This technical structure points to a potential bullish expansion if buyers maintain support at these levels.

If the support holds and positive momentum builds, HYPE could establish a higher low, setting the stage for a move toward the $90–$100 target area. However, a breakdown below $51 on a weekly basis could invalidate this scenario, potentially leading to further downside.

“Any successful defense of the range between $51 and $53 may open up the door for a Wave 5 move, with the charts suggesting that the next major target lies somewhere between $90 and $100.”

Token burn strengthens scarcity narrativeRecent data from MSB Intel revealed that Hyperliquid has burned 47.53 million HYPE tokens, valued at approximately $2.68 billion based on current prices. This reduction amounts to 4.75% of the total HYPE supply, further supporting the token’s scarcity narrative.

The aggressive burn program is designed to limit circulating supply over time, potentially creating favorable conditions for price growth if market demand continues to rise. Market observers note that long-term tokenomics are likely to benefit from sustained burns, provided investor interest and overall ecosystem expansion remain strong.

Tokens will continue to be burned, supporting supply reduction in periods of strong ecosystem activity and investor participation. However, supply cuts alone may not guarantee upward price movement, and broader market dynamics will continue to play an important role.

Market dynamics and broader opportunitiesDespite these optimism-inducing fundamentals, HYPE’s price has recently moved downward. General sentiment in the crypto market appears to be improving, and a well-defended bounce from the current support zone could confirm bullish technical patterns for HYPE.

The coming period is likely to be shaped by how effectively buyers defend the crucial $51–$53 support. A strong upward rebound may validate technical targets toward the $90–$100 region. Conversely, a weekly close below $51 would put the positive outlook at risk and potentially signal a trend reversal.

Investors and market participants are watching the technical patterns closely and monitoring HYPE’s burn mechanism as part of the broader narrative on supply reduction and price sustainability. These trends mirror wider developments within the digital assets space, where platforms are prioritizing mechanisms to manage liquidity and drive adoption.

In addition to ecosystem-driven growth, platforms such as 1stepSwap are also contributing to market innovation by allowing seamless access to real-world assets on-chain. 1stepSwap enables users to acquire shares of leading U.S. companies or commodities like gold and silver directly through their digital wallets, bypassing complex intermediaries. The platform utilizes real-time market checks to ensure users trade major assets, including stocks, at the best available price, thus offering portfolio diversification and efficient execution in seconds.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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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Blockchain

7 August 2026 | 18:20 Hyperliquid’s policy arm is pushing regulators to consider whether perpetual futures, best known for crypto trading, could also work as hedging tools for businesses exposed to commodity prices.

Key Takeaways Its proposal centers on giving businesses additional hedging options alongside traditional futures contracts. Agricultural markets provide a demanding test because farmers and merchants use derivatives to manage real operating risks. Public blockchains could streamline collateral and settlement, but liquidity and market protections would still determine whether the products are useful. In an August 7 submission connected to the Commodity Futures Trading Commission’s July 29 Agricultural Advisory Committee meeting, the Hyperliquid Policy Center focused on product choice, the CFTC’s gradual approach to perpetual futures and the potential role of public blockchains in derivatives markets.

The committee represents agricultural producers, merchants and other businesses that use derivatives to manage costs and revenues tied to their operations. Its July meeting examined risk-management tools for agricultural users alongside 24-hour trading and newer derivatives products.

Bringing perpetual futures into that discussion puts the structure in front of businesses with very different needs from crypto traders. The question for regulators is whether it can offer a useful hedging alternative in markets where derivatives protect operating margins.

Hyperliquid Policy Center CFTC submission letter. Why Would a Farmer Need a Perpetual Future? Traditional futures contracts expire. A farmer, commodity merchant or food producer that wants to remain protected against price changes beyond the life of a contract has to close or roll the position into another maturity.

A perpetual future removes the fixed expiry date. The position can remain open while a funding mechanism helps keep its price aligned with the underlying market.

That could suit companies with continuous exposure to commodities. A business that regularly buys energy, grain or another input may want to maintain protection for an extended period without repeatedly moving into a new contract.

Traditional futures remain useful when their expiration dates align with a harvest, shipment or scheduled purchase. A December contract, for example, may suit an exposure that also ends in December.

Perpetuals would give businesses another option when the risk they are managing does not fit neatly into a fixed maturity.

24-Hour Trading Is Useful Only If Liquidity Follows The CFTC is also examining longer trading schedules. In his remarks to the Agricultural Advisory Committee, CFTC Chairman Michael Selig focused on giving farmers and producers efficient tools for managing price uncertainty.

Commodity prices can move while US exchanges are closed. Weather events, geopolitical developments, energy shocks and overseas trading can all affect markets outside normal domestic sessions.

Longer trading hours could allow companies to adjust hedges sooner when those events occur.

Liquidity remains the complication. Thin overnight trading can mean fewer counterparties, wider spreads and larger price moves from relatively small orders. Under those conditions, a 24-hour perpetual contract could offer worse execution than a traditional future during its most active trading hours.

Keeping a market open around the clock only helps if enough participants are there to trade. Commercial users, market makers and other counterparties still need to provide sufficient depth.

Public Blockchains Could Change the Market Infrastructure Derivatives markets require collateral transfers, position reconciliation and settlement of gains and losses between participants. Public blockchains could handle some of those processes on infrastructure that operates continuously and can be independently verified.

Faster collateral movement and systems that remain available outside traditional banking hours could be useful to commercial participants. This may be especially relevant for perpetual contracts, where positions stay open and collateral requirements can change as prices move.

The Hyperliquid Policy Center has also argued that regulators should distinguish public blockchain infrastructure from financial businesses that take custody of customer assets or intermediate transactions.

Agricultural derivatives offer a practical setting for that argument to be tested. Any advantage would need to appear in areas businesses already care about, including collateral efficiency, settlement speed and access during volatile market periods.

The Policy Push Also Serves Hyperliquid’s Broader Strategy Hyperliquid has its own stake in how regulators treat perpetual futures and onchain derivatives.

Hyperliquid Policy Center describes itself as an independent research and advocacy organisation focused on creating a regulated US path for onchain finance. When it launched, the Hyper Foundation committed 1 million HYPE tokens to support its work, according to the organisation’s official launch announcement.

A regulatory framework that accommodates perpetual futures and public blockchain infrastructure could give platforms built around those markets more opportunities to compete with established derivatives venues.

The campaign also comes as Hyperliquid faces growing competitive pressure. JPMorgan has recently argued that regulated US perpetual products could narrow the platform’s advantage, while HYPE ETF demand has weakened. Our earlier analysis explains why JPMorgan sees growing competition as a test for Hyperliquid and HYPE.

That gives the policy effort a broader strategic importance. Expanding the regulatory role of perpetual futures could increase the number of markets where onchain derivatives platforms are able to compete.

The Real Test Is Whether Businesses Actually Use Them Perpetual futures already have a long trading history in crypto. What remains uncertain is whether companies managing commodity and other commercial exposures would find the same structure worthwhile.

Farmers, merchants and producers will judge these products on hedging costs, liquidity, collateral requirements and their ability to respond when markets move.

If perpetual futures improve those areas, they could earn a place alongside established derivatives products.

If they do not, regulatory approval may expand where the contracts can trade without creating much demand from the businesses the CFTC’s agricultural committee represents.

Methodology: This article uses the Hyperliquid Policy Center’s August 7 submission relating to the CFTC Agricultural Advisory Committee’s July 29 meeting, official CFTC meeting materials and Hyperliquid Policy Center disclosures. The analysis focuses on the practical implications of perpetual futures, continuous markets and public blockchain infrastructure. Disclaimer: The article is provided for informational and educational purposes only and does not constitute financial, legal or investment advice. Regulatory policy and derivatives-market rules may change as the CFTC considers new products and public comments. Author

Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

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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Table of contents

Three weeks ago we wrote that a date was hanging over this token. August 6. Roughly 9.92 million HYPE unlocking for core contributors, something like $620 million at the time, and every nervous holder selling first and asking later. The date came. The tokens released. And then the thing nobody was pricing: the team’s committed claim came to about $22.65 million. Not $620 million. Twenty-two.

HYPE trades at $55.83 as of August 7, 2026, up 0.7% over 24 hours, per CoinGecko. Market cap sits near $12.3 billion. The token is about 27% below its June 16 all-time high of $76.67, and it is still sitting in the top handful of most-viewed coins on the board, which is what happens when a market spends a month waiting for a specific Thursday.

The shadow was bigger than the monster Here is what actually matters about yesterday, and it has almost nothing to do with the price.

An unlock releases tokens. It does not sell them. We hammered that distinction in July when Arbitrum’s release went to a DAO treasury and landed with a thud instead of a crash, and the same principle just got its second demonstration in three weeks. Per Tokenomist’s tracking, the August 6 tranche was structurally modest in practice: the committed claim represented a small fraction of a percent of unlocked supply, well under what the full whitepaper schedule would have permitted.

Translation for anyone who sold in July out of unlock fear: you sold into a shadow. The monster arrived, blinked, and went back to bed.

That is not a victory lap for HYPE holders, and it should not read as one. Two things stayed true through all of it. The token is down 27% from June. And an unlock that lands softly today does not unlock softly forever; the vesting calendar keeps running, monthly, and each release adds to a float that has to be absorbed by something. Soft landings are a pattern, not a promise.

The number nobody quotes Everyone quotes the market cap. Almost nobody divides it by anything.

Hyperliquid generated roughly $1.86 million in fees in the last 24 hours, with about $1.39 million of that landing as protocol revenue. Annualize the revenue line and you get somewhere near $500 million a year. Put the $12.3 billion market cap over it and HYPE trades at roughly 24 times annualized revenue.

Sit with that for a second, because it is the whole argument in one ratio.

If you told a traditional equity investor about a business growing fast, dominant in its category, trading at 24 times revenue, they would call it expensive but not insane. Now consider the peer group. The overwhelming majority of tokens in the top hundred have no revenue at all to divide by, and the ones that do rarely route it anywhere near holders. HYPE’s entire premium exists because the exchange makes money and the token has a mechanical claim on it. That is rare enough that it explains both the valuation and the volatility: you are holding something with an actual multiple, which means the multiple can compress.

That is the honest bear case, stated in the bulls’ own language. Twenty-four times revenue is not cheap. It is a price that assumes the volumes keep coming.

Where the levels stand We named $56 as support on July 17 and $60 as the reclaim that would end the concern. HYPE is at $55.83. The first number broke, barely, and has spent weeks being fought over rather than abandoned. Call it what it is: a floor that leaks.

Above, $60 is unchanged as the line that would put the token back in an uptrend rather than a grind. Below, the round $50 is the level nobody wants to discuss and everybody watches. In between is where this has lived since the June top, and the unlock everyone thought would break the range did not break it.

What is actually different now Two things landed in the last few weeks that were not true in July, and both cut in the same direction.

A Tokyo-listed company, Eole Inc., disclosed a HYPE position, becoming the first Japanese public company to hold the token. Corporate treasury buyers are slow money; they do not trade the unlock calendar. Against that, JPMorgan noted that inflows into HYPE-linked exchange-traded products have stalled as competition mounts, which takes some air out of the institutional-drip story we highlighted in July when the streak was running.

So the picture is not “institutions are coming” and it is not “institutions left.” It is both, at once, in different rooms of the same building. One buyer type is arriving with a multi-year horizon while another has slowed to a crawl. Anyone telling you which one wins has better information than the tape does.

Bottom Line The date that scared this market for three weeks came and went, the team claimed a small fraction of what the headline number implied, and HYPE closed the week roughly where it started. The lesson is the one this site keeps repeating and the market keeps relearning: read the label on an unlock, not the size of it. The rest of the picture is unchanged and unsentimental. A dominant exchange, real revenue, a 24 times multiple that leaves no room for a bad quarter, a leaky floor at $56, and a calendar that brings another release next month. The monster was smaller than its shadow this time. Next time is a separate question, and it deserves its own answer.

This article is for information only and is not investment advice. Crypto assets are extremely volatile and you can lose your entire stake. Always do your own research.

Frequently Asked Questions What is the Hyperliquid price today? HYPE trades at $55.83 as of August 7, 2026, up 0.7% over 24 hours, with a market cap near $12.3 billion and roughly 27% below its June all-time high of $76.67.

What happened with the August 6 HYPE unlock? Roughly 9.92 million HYPE unlocked for core contributors. Per Tokenomist tracking, the committed claim was far smaller than the full schedule allowed, around $22.65 million, so the actual supply hitting the market was a fraction of the feared headline.

Did the unlock crash the HYPE price? No. HYPE was up 0.7% the day after and roughly flat across the week. Unlocks release tokens rather than sell them, and much of this tranche was not claimed.

Is HYPE expensive at these levels? By revenue multiple, HYPE trades at roughly 24 times annualized protocol revenue based on about $1.39 million in daily revenue. That is a real multiple in a sector where most tokens have none, and it prices in continued volume growth.

What are the key HYPE levels now? $56 is the contested support, $60 the reclaim that would restore an uptrend, and the round $50 the level below. The token has traded inside this band since the June top.

When is the next Hyperliquid unlock? Hyperliquid runs monthly releases under its vesting schedule. Check the official documentation and a tracker such as Tokenomist for the next date and allocation before assuming another soft landing.

JPMorgan told clients this week that inflows into Hyperliquid's spot ETFs have largely stopped, ending a two-month run in which the funds led every non-bitcoin crypto ETF category on an inflow-to-assets basis.

The bank's analysts, led by Nikolaos Panigirtzoglou, said HYPE ETFs pulled in roughly $280 million cumulatively through June before the trend reversed: July alone brought more than $13 million in net outflows, and a separate streak of $29.8 million in outflows ran across twelve consecutive sessions through August 3. JPMorgan traces the reversal to a specific structural shift rather than a broad loss of confidence in the asset — decentralized derivatives venues like Hyperliquid are now competing directly with newly regulated, US-based perpetual futures platforms, a market that barely existed when HYPE ETFs launched in May. The bank was direct about the scale of the challenge: "We see significant challenges to the market share of decentralized platforms such as Hyperliquid."

Hyperliquid's own diversification push is running into the same problem from a different angle. The protocol expanded into prediction markets earlier this year through a product called Outcomes, intended to reduce its dependence on perpetual futures trading fees, but JPMorgan noted that market has become just as competitive as the derivatives venue Hyperliquid was trying to diversify away from. The bank's framing treats HYPE's structural buyer — the protocol's Assistance Fund, which channels roughly 99% of trading fees into open-market token buybacks — as a genuine floor under the price rather than a reason to dismiss the ETF slowdown, since that buyback mechanism runs independently of Wall Street sentiment.

Our tracking of HYPE's ETF complex through its entire arc this year began with the token's early institutional moments in May, when Bitwise CIO Matt Hougan argued the market was mispricing Hyperliquid by valuing it as a crypto derivatives venue rather than a global multi-asset trading platform with a far larger addressable market — a call that came as HYPE approached its all-time high on the back of early ETF inflows. That momentum carried into June, when Grayscale's HYPG launched on Nasdaq at the lowest fee among three competing US HYPE products, the same week HYPE hit its all-time high of $75.51. JPMorgan's note effectively marks the point where that fee war and listing momentum stopped translating into fresh capital.

JPMorgan's own framing is careful to separate two different questions: whether investors are abandoning HYPE, and whether they're becoming more cautious about its competitive position specifically. The bank's answer is the second, not the first — which means the real test isn't the ETF flow data itself but what happens once the market absorbs the current wave of US-regulated perpetual futures launches and Hyperliquid's own prediction-market expansion.

If Hyperliquid holds share through that adjustment, the July-August pause looks like a pricing correction. If it doesn't, the ETF flows will likely be the first place that shows up.

Wyoming has disclosed an indirect investment in HYPE through Hyperliquid Strategies ($PURR) in its second-quarter 13F filing, adding another digital asset-linked position to the state’s crypto-related portfolio.

Summary

Wyoming disclosed indirect exposure to HYPE through Hyperliquid Strategies in its second quarter 13F filing. The filing shows the state invested in Hyperliquid Strategies rather than purchasing HYPE tokens directly. The disclosure adds to Wyoming’s growing blockchain initiatives, including its state backed FRNT stablecoin and digital asset policies. Wyoming is set to host the Wyoming Blockchain Symposium later this month with senior policymakers and crypto industry leaders expected to attend. According to Blockworks analyst Shaunda Devens, Wyoming’s second-quarter 13F filing shows the state gained indirect exposure to Hyperliquid’s HYPE token through an investment in Hyperliquid Strategies ($PURR). Devens shared the filing on X, describing it as Wyoming’s latest indirect crypto investment disclosed through its public securities holdings.

The State of Wyoming just disclosed that it made an indirect investment in HYPE through Hyperliquid Strategies ($PURR) in its Q2 13F filing. pic.twitter.com/eep8NJ7hCM

— shaunda devens (@shaundadevens) August 6, 2026 While the filing does not indicate that Wyoming purchased HYPE tokens directly, the disclosed position gives the state indirect exposure through Hyperliquid Strategies, a publicly traded vehicle linked to the Hyperliquid ecosystem. The filing also does not disclose any direct ownership of HYPE by the state itself.

Public pension funds, treasuries and other government entities routinely disclose their U.S. equity holdings through quarterly Form 13F filings. The latest disclosure places Wyoming among the public institutions with exposure to companies connected to the digital asset market rather than only traditional crypto-related stocks.

Wyoming’s HYPE exposure comes through Hyperliquid Strategies Hyperliquid Strategies is the investment vehicle identified in the filing. By holding shares in the company, Wyoming receives indirect exposure to HYPE instead of holding the token on its balance sheet.

Devens’ post did not specify the size of the investment or when the position was established during the second quarter. The filing likewise does not state whether the investment forms part of a larger digital asset allocation strategy or a standalone portfolio holding.

Indirect exposure through listed securities has become a common route for institutional investors seeking participation in digital assets while remaining within existing investment frameworks. Such investments differ from purchasing cryptocurrencies directly because the underlying exposure is obtained through corporate securities.

Wyoming has continued expanding its blockchain strategy The disclosure arrives as Wyoming continues to build one of the most active blockchain policy programs among U.S. states.

In January, Wyoming launched the Frontier Stable Token (FRNT), becoming the first U.S. state to issue a government-managed dollar-backed stablecoin. The token debuted on Solana before expanding to Ethereum, Arbitrum, Base, Optimism, Polygon and Avalanche through cross-chain infrastructure. State officials said the reserves are managed by Franklin Templeton, held in a Wyoming-chartered trust and backed by U.S. dollars together with short-term Treasury securities.

Interest generated from those reserves is directed to Wyoming public schools, while the stablecoin was designed to reduce payment costs for state services and demonstrate blockchain-based settlement under public oversight. The project followed years of legislation that included legal recognition of decentralized autonomous organizations, the creation of Special Purpose Depository Institution charters and passage of the Stable Token Act.

Wyoming selected Solana after evaluating multiple blockchain networks before launch, while Kraken became the first Wyoming-domiciled exchange to offer the token for public purchase.

State policies have extended beyond digital assets Alongside blockchain initiatives, Wyoming has also moved to attract computing infrastructure tied to artificial intelligence.

Governor Mark Gordon signed Executive Order 2026-03, titled “Data Centers the Wyoming Way,” in June. The order instructs state agencies involved in permitting and supporting large data center developments to consider electricity demand, water usage, environmental factors, workforce planning and the effect on residential power prices while reviewing projects.

The executive order followed rising investment in AI infrastructure across the United States and also intersects with Wyoming’s established Bitcoin mining industry, where companies have increasingly explored artificial intelligence and high-performance computing alongside cryptocurrency mining.

Several publicly traded miners, including IREN, MARA Holdings, Cipher Digital, Hut 8, HIVE Digital and TeraWulf, have announced or evaluated AI and high-performance computing businesses as they diversify revenue following the 2024 Bitcoin halving.

Wyoming remains active in crypto policy discussions The state’s investment disclosure also comes shortly before the Wyoming Blockchain Symposium, scheduled for Aug. 17-20 in Jackson Hole.

As previously reported by crypto.news, Ripple CEO Brad Garlinghouse will join the speaker lineup alongside policymakers including SEC Chair Paul Atkins, Sen. Cynthia Lummis, House Majority Whip Tom Emmer, Sen. Ruben Gallego and Comptroller of the Currency Jonathan Gould.

Industry participants expected at the event include Galaxy founder Michael Novogratz, Cardano founder Charles Hoskinson, Stellar Development Foundation CEO Denelle Dixon and Custodia Bank founder Caitlin Long.

Organizers have identified U.S. crypto regulation, Bitcoin, digital asset investment strategies, decentralized artificial intelligence and financial market structure among the planned discussion topics. Ripple also maintains academic ties with the University of Wyoming through the Ripple Blockchain Collaboratory and renewed funding under its University Blockchain Research Initiative.

Jane Street plans to transfer $11 billion in public debt to external investors to gain flexibility for further AI investments.

According to a Financial Times report, Jane Street is in talks with investors including Pimco to shift roughly $11 billion in debt from public markets to private instruments via a private credit deal. Analysts note that the debt move is aimed at reducing quarterly financial disclosure requirements to numerous creditors, while giving the company greater flexibility to further invest in AI infrastructure such as data centers and related technologies.

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U.S. July New York Fed 1-year inflation expectation stands at 3.63%, below forecast.

US July New York Fed 1-year inflation expectation comes in at 3.63%, versus the forecast of 3.71% and prior reading of 3.67%.

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UBS: Gold rally has solid support, gold prices expected to approach $5,000 next year.

UBS Chief Investment Officer Ulrike Hoffmann-Burchardi and her team stated: “This round of gold rally is underpinned by fundamentals. We expect gold prices to approach $5,000 per ounce in the first half of 2027.” Since the U.S. and Israel launched strikes against Iran in late February, gold prices came under pressure and dipped temporarily. UBS strategists noted that near-term risks persist: if oil prices rise, or if the market prices in a more hawkish Federal Reserve monetary policy and higher bond attractiveness, gold prices will face headwinds. However, the bank remains optimistic about gold’s medium- to long-term outlook. Hoffmann-Burchardi added that her team anticipates inflation will gradually ease, the Fed is expected to hold interest rates steady this year, and will restart its rate-cut cycle in 2027. “Rising expectations of lower policy rates will likely push down real yields, weigh on the U.S. dollar, and in turn boost gold investment demand, creating a more favorable market environment for gold.”

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Glassnode’s market analysis notes that sentiment in the Bitcoin options market is improving, with short-term downside skew declining sharply. The 1-month 25 Delta Skew has dropped to around 7%, signaling recent panic has eased. However, longer-term skew remains at roughly 10%–12%, pointing to ongoing demand for downside protection. Currently, BTC call options hold an open interest of approximately $15 billion, exceeding put options’ roughly $10 billion. Recent capital inflows are concentrated in the $61,000–$67,000 range, with notable buying activity for $65,000 call options. Glassnode concludes the market is shifting toward more bullish positions but has not abandoned risk hedging.

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The @HyperliquidX Policy Center has formally petitioned the U.S. Commodity Futures Trading Commission (CFTC) to establish a regulatory framework that would allow on-chain perpetual derivatives trading for U.S. citizens, marking one of the most direct regulatory pushes yet from a decentralized platform seeking access to American markets.

A First-of-Its-Kind Regulatory Push The move is notable for its directness. The Hyperliquid Policy Center is an independent research and advocacy organization dedicated to advancing a clear, regulated path for Americans to access onchain markets. Rather than sidestepping U.S. jurisdiction, as many decentralized platforms have done for years, the Center is asking regulators to build a framework that accommodates non-custodial, on-chain trading of $HYPE and other assets.

The Hyperliquid Policy Center was established in early 2026 with the explicit goal of advocating for regulatory clarity around onchain markets. Its petition to the CFTC is part of a broader effort that has also included a joint comment letter filed with Phantom Technologies. The two organizations urged the agency to update rules that currently keep American users walled off from onchain derivatives markets.

At the core of the proposal is a challenge to how legacy financial rules treat decentralized software. HPC and Phantom argue that simply building onchain trading software should not trigger registration requirements as an exchange or clearinghouse, and that non-custodial front-end providers like Phantom do not have to register as introducing brokers. The initiative also calls for decentralized clearinghouse protocols to be formally integrated into the U.S. derivatives ecosystem, enabling transparent, non-custodial trading without the intermediary structures that traditional regulations assume.

A Regulator Signaling Openness The CFTC, for its part, appears receptive to rethinking its approach. CFTC Chair Mike Selig has said the agency is crafting a tailored regulatory framework for on-chain perpetual derivatives platforms like Hyperliquid, noting that 1930s-era exchange rules are ill-suited to DeFi. Under the Trump administration, the CFTC has taken a more accommodating approach to regulating the crypto industry, most notably approving the first U.S.-regulated bitcoin perpetual futures contract in May and opening the door to bringing more perps onshore.

That regulatory opening has not been without controversy. The proposal lands while the CFTC faces legal action from CME Group, which sued the regulator in June after it approved perpetual futures products from platforms including Kalshi. CME argues that perpetual contracts should be classified as swaps rather than futures under the Dodd-Frank framework and claims the regulator bypassed the required legal process.

The Hyperliquid Policy Center's petition reflects a broader shift in how decentralized platforms are engaging with regulators. Rather than operating in legal grey areas, projects are increasingly seeking defined rules. As the regulatory conversation matures, the CFTC's response could set a precedent for how on-chain derivatives platforms gain, or are denied, access to U.S. liquidity.

Sources:
The Block: Hyperliquid Policy Center, Phantom urge CFTC to stop treating onchain protocols like traditional brokers
Crypto.news: Hyperliquid Policy Center and Phantom call for DeFi-specific CFTC regulations
CryptoRank: CFTC Chair signals regulatory path for on-chain perpetual platforms like Hyperliquid

Hyperliquid (HYPE) price is up by 1.66% today, August 7, to trade at $56 at the time of writing. The gains come despite JPMorgan analysts warning that Hyperliquid’s market share in crypto trading and prediction markets could drop due to growing competition from regulated U.S.-based platforms. Despite the warning, HYPE ETFs have recorded two straight days of inflows.

HYPE ETF Inflows Rise Despite JPMorgan’s Warning Data from SoSoValue shows that HYPE ETFs recorded $2.84 million in inflows on August 6, with the rise mirroring rising demand from institutions as crypto ETFs approach $1 billion in total weekly inflows.

The ETFs have now seen two straight days of inflows despite the current demand being weaker than what was seen in June 2026.

HYPE ETF Flows (Source: SoSoValue) These rising inflows to the ETFs come despite JPMorgan warning that Hyperliquid’s share in prediction markets and crypto trading could shrink because regulated US platforms are expanding into the sectors that Hyperliquid is dominating.

“We see significant challenges to the market share of decentralized platforms such as Hyperliquid… The launch of U.S.-regulated crypto perpetual futures products could accelerate a shift in liquidity away from offshore and decentralized venues to onshore venues,” the analysts said.

They also noted that these fears create doubts whether Hyperliquid could surpass Solana and XRP in market cap. The fears come despite Hyperliquid expanding into prediction markets after rolling out HIP-4 permissionless deployments on the testnet.

HYPE Price Creates a Cup and Handle Pattern The four-hour chart shows that the price of HYPE is creating a cup and handle pattern that usually suggests that the long-term Hyperliquid price forecast is bullish.

But for this pattern to play out, HYPE needs to move above the resistance of $57. If the price closes above this resistance for three straight days, it could gain by 12% and reach $64.

The RSI reading of 57 suggests that the bullish momentum is strong, and this could push the price of HYPE to $64.

The AO bars that have turned green also suggest that the bears have lost their grip, as buying pressure replaces the selling pressure that persisted between August 5 and August 7.

HYPE Price Chart (Source: TradingView) But if sellers come back to book profits after the recent gain, the price of HYPE could drop below the psychological support of $50 and potentially reach If the drop continues, the price of HYPE could move to the psychological support of $50.

Hyperliquid Derivatives Market Analysis Data from Coinglass shows that HYPE’s open interest has increased by 1.19% to $2.3 billion suggesting that there is rising demand for futures positions on Hyperliquid.

The weighted funding rate that is green suggests that this demand is coming from long buyers who are betting that the price of HYPE will extend its gains.

HYPE Derivatives Market Data (Source: Coinglass) HYPE’s long/short positioning has a reading of 1.05, which also suggests that there are more long buyers than short sellers.

Still, long liquidations have exceeded short liquidations for the last two straight days, suggesting that fluctuations in price are wiping out long buyers who are bullish in HYPE.

Key Takeaways Table of Contents

Key TakeawaysBitcoin: The Portfolio FoundationEthereum: The Smart Contract LeaderSolana: Speed Meets OpportunityChainlink: Bridging Blockchains and RealityHyperliquid: The Aggressive Growth OptionConstructing a Balanced Long-Term Strategy Bitcoin serves as the optimal foundation asset thanks to its limited supply and widespread institutional acceptance Ethereum dominates as the leading platform for DeFi applications and smart contract development Solana delivers exceptional transaction speed and scalability, though with elevated volatility Chainlink provides essential oracle services that bridge blockchain networks with external data sources Hyperliquid represents a high-risk opportunity centered on genuine decentralized exchange activity The cryptocurrency landscape includes thousands of digital assets, yet only a select few possess characteristics suitable for sustained investment. Financial analysts recommend concentrating on proven projects and promising newcomers that represent distinct market segments. Below, we examine five digital currencies that merit serious consideration.

Bitcoin: The Portfolio Foundation Bitcoin represents the cornerstone of any serious long-term cryptocurrency allocation.

Bitcoin (BTC) Price With its predetermined maximum supply, substantial market depth, and increasing institutional participation, Bitcoin stands among the more reliable choices in an inherently unpredictable asset category. The digital currency is progressively recognized as a modern store of value, drawing comparisons to precious metals like gold.

While Bitcoin might not produce the most explosive returns during bullish cycles, it provides superior consistency. Investment professionals typically recommend allocating approximately 40% of a cryptocurrency portfolio to Bitcoin.

Ethereum: The Smart Contract Leader Ethereum serves as the second fundamental component for long-term crypto investors.

Ethereum (ETH) Price The platform enables decentralized applications, supports major stablecoins, facilitates DeFi protocols, and hosts tokenized real-world assets. Ethereum boasts among the most robust and active developer ecosystems across all blockchain networks.

Ongoing upgrades enhance the network’s throughput and cost-efficiency. Should blockchain-based financial systems continue expanding, Ethereum appears well-positioned to maintain its central role.

Solana: Speed Meets Opportunity Solana presents itself as a high-performance competitor to Ethereum.

The network has established itself among the leading platforms for digital asset trading, payment processing, and user-facing applications. Superior transaction throughput combined with minimal fees provides significant advantages in attracting both builders and end users.

This performance comes with increased price fluctuation. Solana presents greater risk compared to Bitcoin or Ethereum, while simultaneously offering enhanced growth prospects for those investing with extended time horizons. Portfolio strategists typically recommend approximately 17.5% exposure.

Chainlink: Bridging Blockchains and Reality Chainlink offers a distinctive approach to cryptocurrency investment.

The protocol facilitates communication between blockchain networks and external information sources and systems. These oracle services form critical infrastructure enabling smart contracts to interact meaningfully with off-chain environments.

As traditional financial instruments increasingly migrate to blockchain platforms, infrastructure enabling these connections may experience heightened demand. Chainlink delivers portfolio variety beyond simply accumulating different native blockchain tokens.

Hyperliquid: The Aggressive Growth Option Hyperliquid represents the highest-risk selection among these recommendations.

The platform has established significant traction in decentralized derivatives trading, especially perpetual futures markets. Unlike numerous cryptocurrency ventures sustained primarily through marketing, Hyperliquid demonstrates substantial genuine trading volume and user engagement.

This fundamental activity distinguishes it from typical speculative altcoins. Nevertheless, it remains considerably less proven than other options discussed here, prompting experts to suggest limiting exposure to roughly 5% of total cryptocurrency holdings.

Constructing a Balanced Long-Term Strategy An effective long-term cryptocurrency portfolio need not involve excessive complexity.

One practical framework distributes capital as follows: 40% Bitcoin, 27.5% Ethereum, 17.5% Solana, 10% Chainlink, and 5% Hyperliquid. This structure provides exposure across value preservation, platform infrastructure, performance-oriented networks, and speculative growth opportunities.

Cryptocurrency markets exhibit extreme volatility. Even established projects experience severe price declines. These selections function best as long-term, risk-appropriate positions rather than assured successes.

For investors willing to maintain positions through significant market fluctuations, these five cryptocurrencies represent distinct sectors of the digital asset ecosystem while maintaining portfolio simplicity.

Table of contents

A sharp deceleration in Hyperliquid ETF inflows is resetting expectations for the crypto exchange-traded fund market, after the product category briefly dominated in May and June. JPMorgan analysts now report that demand for the single-protocol funds stalled out in July and August as rival offerings multiplied and investor capital rotated into broader-based crypto products.

The bank’s data, highlighted in the original report, shows that the window of hyper-concentrated ETF demand may be narrower than many issuers expected. For two months, Hyperliquid-linked ETFs commanded the lion’s share of net new money flowing into crypto funds. That streak has now broken, and the slowdown is notable not just for its speed but for what it suggests about how institutional allocators are approaching the expanding menu of crypto wrappers.

Competition eats into early advantage When the first Hyperliquid ETFs launched, they offered something rare: direct exposure to the native token of a high-growth DeFi protocol with strong fee generation and a loyal user base. Fund managers touted the narrative of a “productive asset” that captured real economic value on-chain. Retail and institutional investors alike poured money in, pushing cumulative inflows past the $500 million mark by mid-June, according to separate industry data.

By late July, however, a clutch of new ETFs had entered the market, including funds linked to competing L1 tokens, DeFi aggregators, and multi-protocol baskets. Some products undercut on fees, while others promised diversified exposure that reduced idiosyncratic risk. As JPMorgan noted, the flurry of new launches fragmented demand. The average daily inflow for Hyperliquid ETFs fell below $5 million in August, down from over $30 million in June.

That pattern is not unfamiliar to anyone who followed the first wave of Bitcoin futures ETFs, where early-mover advantage faded as more sophisticated vehicles appeared. The difference this time is the speed of the cycle. The Hyperliquid ETF boom lasted barely a quarter before competition capped the upside.

What the stall means for the Hyperliquid ecosystem For traders, the ETF stall is a sentiment signal. ETF flows tend to reflect institutional positioning, and when they dry up, it often foreshadows reduced upward pressure on the underlying asset. Hyperliquid’s token price has drifted sideways in recent weeks, underperforming the broader crypto market. While no direct causal line exists between ETF flows and spot price, the correlation is strong enough that algorithmic funds and active managers watch it closely.

The protocol itself is not directly dependent on

AUTHOR

Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.

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.

This site is protected by reCAPTCHA.