Hyperliquid, the decentralized platform behind the HYPE token, has achieved a new milestone as its price hit an all-time high of over $92. The surge in value coincides with the platform’s expanded features, including a new borrowing facility that allows users to borrow stablecoins against HYPE or Bitcoin collateral. This development has possibly contributed to the token’s rise, with its market capitalization soaring past $20 billion. Despite this upward momentum, potential competition and regulatory challenges may pose hurdles to its sustained growth.
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Key Takeaways Hyperliquid’s price action suggests market participants are optimistic about its potential to reach $100 by the end of 2026. The introduction of borrowing against HYPE likely contributed to its recent price surge, indicating increased utility and demand. While current pricing trends appear supportive of a YES outcome for reaching $100, the market acknowledges potential risks from competition and regulation. What to Watch Market observers should monitor Hyperliquid’s ongoing developments, particularly any new partnerships or technological advancements that could bolster its competitive position. Regulatory news and potential security issues may also impact its future performance. Current pricing suggests confidence in short-term gains, but longer-term sustainability remains uncertain. Key dates include December 31, 2026, when the market will assess if Hyperliquid has met the $100 target.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 78% — — View market → January 1 2027 3.5% — — View market → January 1 2027 2.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 4.1% — — View market → January 1 2027 8.5% — — View market → January 1 2027 5.5% — — View market → January 1 2027 7.5% — — View market →
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Apple and Google are hiring for stablecoin-related roles as they explore new opportunities in the crypto business.
Apple and Google have recently posted job openings related to stablecoins, tokenized deposits, and blockchain technology respectively. Apple has opened a U.S.-based role for Head of Apple Pay Financial Product Strategy, responsible for the medium- and long-term strategy of financial services including Apple Card and Apple Cash, as well as exploring new business opportunities. The role lists knowledge of stablecoins, tokenized deposits, and blockchain technology as a preferred qualification. Google, meanwhile, is hiring a Chief Architect for Web3 in Hong Kong, to lead Google Cloud’s Web3 and digital asset operations in the Asia-Pacific region. The role requires candidates to have relevant knowledge or experience in areas such as real-world asset (RWA) tokenization, stablecoin payment networks, tokenized deposits, and digital asset custody, with target clients including blockchain protocols, institutional trading platforms, digital asset custodians, and financial institutions. Apple’s focus is on exploring the application of stablecoins in consumer financial services like Apple Pay, Apple Card, and Apple Cash, while Google is more focused on cloud services and infrastructure for financial institutions and digital asset firms. However, these job postings do not indicate that Apple or Google is preparing to issue their own stablecoins or launch specific services. For now, both companies are primarily building out relevant talent during the hiring phase to evaluate future use cases for stablecoins and tokenized deposits in payments and financial operations.
8 minutes ago
ZCode was found to have a "dual version" immediately after its open-sourcing, leading the community to question whether Zhipu used the open-source project for public relations.
Insight Beating AI News Flash: Zhipu AI has open-sourced ZCode under the Apache 2.0 license, but developers quickly found that the "open-source version" on GitHub is not fully consistent with the version downloadable from its official website. Source code comments note that the open-source version is ineligible for quota-based activity benefits. The upgrade entry remains, but no discount labels or rules are displayed. The repository’s NOTICE.md also explicitly states that the public source code and its build products do not guarantee all features and activity policies of the official product. The official site still offers a separate ZCode client download. While it is common for open-source versions to lack certain commercial features, ZCode’s open source was originally meant to address prior data security controversies and enable external code audits. Given the discrepancies between the official and open-source versions, developers have questioned which ZCode is actually being audited, dubbing the move more of a "PR-style open source".
8 minutes ago
China puts the brakes on humanoid robot IPOs, with revenues from data collection centers facing key scrutiny.
Insight Beating AI Flash News: China is tightening IPOs for humanoid robot companies. Reuters, citing multiple sources familiar with the matter, reports that regulators have used informal "window guidance" to slow the listing process of some firms and raise review thresholds. Some sources say relevant IPOs have effectively been suspended, while others stress this is not an official ban, only a tightening of oversight for the sector. The China Securities Regulatory Commission (CSRC) did not respond to a request for comment. Regulators are zeroing in on the revenue quality of robot companies. Some firms have secured large orders via data collection centers and joint ventures backed by local governments, with local authorities even covering 80% to 90% of initial investment in some projects. Regulators are probing whether these revenues come from genuine independent customer demand or rely mainly on continuous funding from local projects. A person close to robot industry investors estimates that excluding revenue from data collection centers, the valuations of some robot companies could fall by 60% to 70%. Regulators now prioritize whether robots are actually deployed in factories, whether there are sustainable orders, and whether revenue is recurring. The sector has faced warnings earlier: Unitree Robotics saw its stock surge over 5 times on its debut, before dropping 55% from its peak. Mech-Mind CEO Shao Tianlan publicly questioned this month that some embodied intelligence firms are generating unsustainable revenue through data collection centers and related-party transactions, naming Galaxy General; Galaxy General later denied the allegations.
8 minutes ago
Jinse Finance partners with Hyperliquid’s Chinese channel to host a trading rant event, inviting participants to share trading experiences and split a 28.88 HYPE prize pool.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Contest. The 7-day event runs from September 21 to September 28, where users can share their trading stories to win HYPE rewards. Eligible topics include: Who missed out on the Robinhood $PONS wealth train? Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? Last year at this time, $ZEC was only 40 U… Did you catch the privacy narrative? $HYPE and $Lit hit new highs—are you still holding $Aster? The event offers three tiers of rewards, with the top prize being 9.99 HYPE. During the event, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, with support from partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
8 minutes ago
Fraud-related FUD surrounding Kalshi has spilled over to the prediction market: 61% of its bets are multi-event parlay wagers, and its actual trading volume is 14 times lower than its reported figures.
Recently, Kalshi’s crypto perpetual contract trading data has faced widespread skepticism from the community. The controversy began with crypto perpetual contracts: a trader noted that ETH perpetual open interest is only around millions of U.S. dollars, yet daily trading volume reaches hundreds of millions of dollars, with unusually high turnover. Kalshi’s head of crypto business, IcoBeast, responded by addressing the perpetual contracts and its crypto prediction markets separately, stating that prediction markets have no equivalent market maker rebates and their statistical methodology is comparable to industry peers. However, community discussions did not stop at perpetual contracts; suspicions of fraud spread to Kalshi’s core prediction market business. Prominent prediction market trader @retardmode posted that roughly 61% of Kalshi’s disclosed trading volume comes from "multi-event parlay bets" (called "串关" in Chinese), which bundle the outcomes of multiple events into a single ticket that requires all selections to be correct to win. The platform does not calculate volume based on users’ actual wagers, but instead uses a $1 par value per contract. For example, a user spending $1 on a parlay ticket that pays out $14.10 if all selections are correct will be recorded as $14.10 in trading volume. Nearly half of these parlay bets involve 11 or more events, resulting in extremely low win probabilities. Using this methodology, Kalshi’s actual trading volume yesterday was around $136 million, while its publicly disclosed figure was $1.91 billion. Top Polymarket trader @CarOnPolymarket further estimated that the actual trading volume of Kalshi’s parlay bets may only be roughly 7.1% of its disclosed parlay bet amount. Extrapolated monthly, this could create an extreme gap of approximately $4 billion in actual volume versus $57 billion in reported figures.
8 minutes ago
Crypto media Jinse Finance has partnered with Hyperliquid's Chinese channel to launch a trading rant event, where participants can share their trading experiences to split a prize pool of 28.88 HYPE tokens.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Session. The 7-day event runs from September 21 to September 28, where users can win HYPE rewards by sharing their trading stories. Eligible topics include: - Who missed out on Robinhood’s $PONS "wealth train"? - Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? - Back this time last year, $ZEC was only $40... Did you catch the privacy narrative? - $HYPE and $LIT hit new highs—are you still holding $ASTER? The event has three reward tiers, with the top prize being 9.99 HYPE. To participate, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, and supported by partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
Apple and Google are hiring for stablecoin-related roles as they explore new opportunities in the crypto business.
Apple and Google have recently posted job openings related to stablecoins, tokenized deposits, and blockchain technology respectively. Apple has opened a U.S.-based role for Head of Apple Pay Financial Product Strategy, responsible for the medium- and long-term strategy of financial services including Apple Card and Apple Cash, as well as exploring new business opportunities. The role lists knowledge of stablecoins, tokenized deposits, and blockchain technology as a preferred qualification. Google, meanwhile, is hiring a Chief Architect for Web3 in Hong Kong, to lead Google Cloud’s Web3 and digital asset operations in the Asia-Pacific region. The role requires candidates to have relevant knowledge or experience in areas such as real-world asset (RWA) tokenization, stablecoin payment networks, tokenized deposits, and digital asset custody, with target clients including blockchain protocols, institutional trading platforms, digital asset custodians, and financial institutions. Apple’s focus is on exploring the application of stablecoins in consumer financial services like Apple Pay, Apple Card, and Apple Cash, while Google is more focused on cloud services and infrastructure for financial institutions and digital asset firms. However, these job postings do not indicate that Apple or Google is preparing to issue their own stablecoins or launch specific services. For now, both companies are primarily building out relevant talent during the hiring phase to evaluate future use cases for stablecoins and tokenized deposits in payments and financial operations.
8 minutes ago
ZCode was found to have a "dual version" immediately after its open-sourcing, leading the community to question whether Zhipu used the open-source project for public relations.
Insight Beating AI News Flash: Zhipu AI has open-sourced ZCode under the Apache 2.0 license, but developers quickly found that the "open-source version" on GitHub is not fully consistent with the version downloadable from its official website. Source code comments note that the open-source version is ineligible for quota-based activity benefits. The upgrade entry remains, but no discount labels or rules are displayed. The repository’s NOTICE.md also explicitly states that the public source code and its build products do not guarantee all features and activity policies of the official product. The official site still offers a separate ZCode client download. While it is common for open-source versions to lack certain commercial features, ZCode’s open source was originally meant to address prior data security controversies and enable external code audits. Given the discrepancies between the official and open-source versions, developers have questioned which ZCode is actually being audited, dubbing the move more of a "PR-style open source".
8 minutes ago
China puts the brakes on humanoid robot IPOs, with revenues from data collection centers facing key scrutiny.
Insight Beating AI Flash News: China is tightening IPOs for humanoid robot companies. Reuters, citing multiple sources familiar with the matter, reports that regulators have used informal "window guidance" to slow the listing process of some firms and raise review thresholds. Some sources say relevant IPOs have effectively been suspended, while others stress this is not an official ban, only a tightening of oversight for the sector. The China Securities Regulatory Commission (CSRC) did not respond to a request for comment. Regulators are zeroing in on the revenue quality of robot companies. Some firms have secured large orders via data collection centers and joint ventures backed by local governments, with local authorities even covering 80% to 90% of initial investment in some projects. Regulators are probing whether these revenues come from genuine independent customer demand or rely mainly on continuous funding from local projects. A person close to robot industry investors estimates that excluding revenue from data collection centers, the valuations of some robot companies could fall by 60% to 70%. Regulators now prioritize whether robots are actually deployed in factories, whether there are sustainable orders, and whether revenue is recurring. The sector has faced warnings earlier: Unitree Robotics saw its stock surge over 5 times on its debut, before dropping 55% from its peak. Mech-Mind CEO Shao Tianlan publicly questioned this month that some embodied intelligence firms are generating unsustainable revenue through data collection centers and related-party transactions, naming Galaxy General; Galaxy General later denied the allegations.
8 minutes ago
Jinse Finance partners with Hyperliquid’s Chinese channel to host a trading rant event, inviting participants to share trading experiences and split a 28.88 HYPE prize pool.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Contest. The 7-day event runs from September 21 to September 28, where users can share their trading stories to win HYPE rewards. Eligible topics include: Who missed out on the Robinhood $PONS wealth train? Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? Last year at this time, $ZEC was only 40 U… Did you catch the privacy narrative? $HYPE and $Lit hit new highs—are you still holding $Aster? The event offers three tiers of rewards, with the top prize being 9.99 HYPE. During the event, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, with support from partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
8 minutes ago
Fraud-related FUD surrounding Kalshi has spilled over to the prediction market: 61% of its bets are multi-event parlay wagers, and its actual trading volume is 14 times lower than its reported figures.
Recently, Kalshi’s crypto perpetual contract trading data has faced widespread skepticism from the community. The controversy began with crypto perpetual contracts: a trader noted that ETH perpetual open interest is only around millions of U.S. dollars, yet daily trading volume reaches hundreds of millions of dollars, with unusually high turnover. Kalshi’s head of crypto business, IcoBeast, responded by addressing the perpetual contracts and its crypto prediction markets separately, stating that prediction markets have no equivalent market maker rebates and their statistical methodology is comparable to industry peers. However, community discussions did not stop at perpetual contracts; suspicions of fraud spread to Kalshi’s core prediction market business. Prominent prediction market trader @retardmode posted that roughly 61% of Kalshi’s disclosed trading volume comes from "multi-event parlay bets" (called "串关" in Chinese), which bundle the outcomes of multiple events into a single ticket that requires all selections to be correct to win. The platform does not calculate volume based on users’ actual wagers, but instead uses a $1 par value per contract. For example, a user spending $1 on a parlay ticket that pays out $14.10 if all selections are correct will be recorded as $14.10 in trading volume. Nearly half of these parlay bets involve 11 or more events, resulting in extremely low win probabilities. Using this methodology, Kalshi’s actual trading volume yesterday was around $136 million, while its publicly disclosed figure was $1.91 billion. Top Polymarket trader @CarOnPolymarket further estimated that the actual trading volume of Kalshi’s parlay bets may only be roughly 7.1% of its disclosed parlay bet amount. Extrapolated monthly, this could create an extreme gap of approximately $4 billion in actual volume versus $57 billion in reported figures.
8 minutes ago
Crypto media Jinse Finance has partnered with Hyperliquid's Chinese channel to launch a trading rant event, where participants can share their trading experiences to split a prize pool of 28.88 HYPE tokens.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Session. The 7-day event runs from September 21 to September 28, where users can win HYPE rewards by sharing their trading stories. Eligible topics include: - Who missed out on Robinhood’s $PONS "wealth train"? - Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? - Back this time last year, $ZEC was only $40... Did you catch the privacy narrative? - $HYPE and $LIT hit new highs—are you still holding $ASTER? The event has three reward tiers, with the top prize being 9.99 HYPE. To participate, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, and supported by partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
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.
Apple and Google are hiring for stablecoin-related roles as they explore new opportunities in the crypto business.
Apple and Google have recently posted job openings related to stablecoins, tokenized deposits, and blockchain technology respectively. Apple has opened a U.S.-based role for Head of Apple Pay Financial Product Strategy, responsible for the medium- and long-term strategy of financial services including Apple Card and Apple Cash, as well as exploring new business opportunities. The role lists knowledge of stablecoins, tokenized deposits, and blockchain technology as a preferred qualification. Google, meanwhile, is hiring a Chief Architect for Web3 in Hong Kong, to lead Google Cloud’s Web3 and digital asset operations in the Asia-Pacific region. The role requires candidates to have relevant knowledge or experience in areas such as real-world asset (RWA) tokenization, stablecoin payment networks, tokenized deposits, and digital asset custody, with target clients including blockchain protocols, institutional trading platforms, digital asset custodians, and financial institutions. Apple’s focus is on exploring the application of stablecoins in consumer financial services like Apple Pay, Apple Card, and Apple Cash, while Google is more focused on cloud services and infrastructure for financial institutions and digital asset firms. However, these job postings do not indicate that Apple or Google is preparing to issue their own stablecoins or launch specific services. For now, both companies are primarily building out relevant talent during the hiring phase to evaluate future use cases for stablecoins and tokenized deposits in payments and financial operations.
8 minutes ago
ZCode was found to have a "dual version" immediately after its open-sourcing, leading the community to question whether Zhipu used the open-source project for public relations.
Insight Beating AI News Flash: Zhipu AI has open-sourced ZCode under the Apache 2.0 license, but developers quickly found that the "open-source version" on GitHub is not fully consistent with the version downloadable from its official website. Source code comments note that the open-source version is ineligible for quota-based activity benefits. The upgrade entry remains, but no discount labels or rules are displayed. The repository’s NOTICE.md also explicitly states that the public source code and its build products do not guarantee all features and activity policies of the official product. The official site still offers a separate ZCode client download. While it is common for open-source versions to lack certain commercial features, ZCode’s open source was originally meant to address prior data security controversies and enable external code audits. Given the discrepancies between the official and open-source versions, developers have questioned which ZCode is actually being audited, dubbing the move more of a "PR-style open source".
8 minutes ago
China puts the brakes on humanoid robot IPOs, with revenues from data collection centers facing key scrutiny.
Insight Beating AI Flash News: China is tightening IPOs for humanoid robot companies. Reuters, citing multiple sources familiar with the matter, reports that regulators have used informal "window guidance" to slow the listing process of some firms and raise review thresholds. Some sources say relevant IPOs have effectively been suspended, while others stress this is not an official ban, only a tightening of oversight for the sector. The China Securities Regulatory Commission (CSRC) did not respond to a request for comment. Regulators are zeroing in on the revenue quality of robot companies. Some firms have secured large orders via data collection centers and joint ventures backed by local governments, with local authorities even covering 80% to 90% of initial investment in some projects. Regulators are probing whether these revenues come from genuine independent customer demand or rely mainly on continuous funding from local projects. A person close to robot industry investors estimates that excluding revenue from data collection centers, the valuations of some robot companies could fall by 60% to 70%. Regulators now prioritize whether robots are actually deployed in factories, whether there are sustainable orders, and whether revenue is recurring. The sector has faced warnings earlier: Unitree Robotics saw its stock surge over 5 times on its debut, before dropping 55% from its peak. Mech-Mind CEO Shao Tianlan publicly questioned this month that some embodied intelligence firms are generating unsustainable revenue through data collection centers and related-party transactions, naming Galaxy General; Galaxy General later denied the allegations.
8 minutes ago
Jinse Finance partners with Hyperliquid’s Chinese channel to host a trading rant event, inviting participants to share trading experiences and split a 28.88 HYPE prize pool.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Contest. The 7-day event runs from September 21 to September 28, where users can share their trading stories to win HYPE rewards. Eligible topics include: Who missed out on the Robinhood $PONS wealth train? Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? Last year at this time, $ZEC was only 40 U… Did you catch the privacy narrative? $HYPE and $Lit hit new highs—are you still holding $Aster? The event offers three tiers of rewards, with the top prize being 9.99 HYPE. During the event, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, with support from partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
8 minutes ago
Fraud-related FUD surrounding Kalshi has spilled over to the prediction market: 61% of its bets are multi-event parlay wagers, and its actual trading volume is 14 times lower than its reported figures.
Recently, Kalshi’s crypto perpetual contract trading data has faced widespread skepticism from the community. The controversy began with crypto perpetual contracts: a trader noted that ETH perpetual open interest is only around millions of U.S. dollars, yet daily trading volume reaches hundreds of millions of dollars, with unusually high turnover. Kalshi’s head of crypto business, IcoBeast, responded by addressing the perpetual contracts and its crypto prediction markets separately, stating that prediction markets have no equivalent market maker rebates and their statistical methodology is comparable to industry peers. However, community discussions did not stop at perpetual contracts; suspicions of fraud spread to Kalshi’s core prediction market business. Prominent prediction market trader @retardmode posted that roughly 61% of Kalshi’s disclosed trading volume comes from "multi-event parlay bets" (called "串关" in Chinese), which bundle the outcomes of multiple events into a single ticket that requires all selections to be correct to win. The platform does not calculate volume based on users’ actual wagers, but instead uses a $1 par value per contract. For example, a user spending $1 on a parlay ticket that pays out $14.10 if all selections are correct will be recorded as $14.10 in trading volume. Nearly half of these parlay bets involve 11 or more events, resulting in extremely low win probabilities. Using this methodology, Kalshi’s actual trading volume yesterday was around $136 million, while its publicly disclosed figure was $1.91 billion. Top Polymarket trader @CarOnPolymarket further estimated that the actual trading volume of Kalshi’s parlay bets may only be roughly 7.1% of its disclosed parlay bet amount. Extrapolated monthly, this could create an extreme gap of approximately $4 billion in actual volume versus $57 billion in reported figures.
8 minutes ago
Crypto media Jinse Finance has partnered with Hyperliquid's Chinese channel to launch a trading rant event, where participants can share their trading experiences to split a prize pool of 28.88 HYPE tokens.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Session. The 7-day event runs from September 21 to September 28, where users can win HYPE rewards by sharing their trading stories. Eligible topics include: - Who missed out on Robinhood’s $PONS "wealth train"? - Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? - Back this time last year, $ZEC was only $40... Did you catch the privacy narrative? - $HYPE and $LIT hit new highs—are you still holding $ASTER? The event has three reward tiers, with the top prize being 9.99 HYPE. To participate, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, and supported by partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
Apple and Google are hiring for stablecoin-related roles as they explore new opportunities in the crypto business.
Apple and Google have recently posted job openings related to stablecoins, tokenized deposits, and blockchain technology respectively. Apple has opened a U.S.-based role for Head of Apple Pay Financial Product Strategy, responsible for the medium- and long-term strategy of financial services including Apple Card and Apple Cash, as well as exploring new business opportunities. The role lists knowledge of stablecoins, tokenized deposits, and blockchain technology as a preferred qualification. Google, meanwhile, is hiring a Chief Architect for Web3 in Hong Kong, to lead Google Cloud’s Web3 and digital asset operations in the Asia-Pacific region. The role requires candidates to have relevant knowledge or experience in areas such as real-world asset (RWA) tokenization, stablecoin payment networks, tokenized deposits, and digital asset custody, with target clients including blockchain protocols, institutional trading platforms, digital asset custodians, and financial institutions. Apple’s focus is on exploring the application of stablecoins in consumer financial services like Apple Pay, Apple Card, and Apple Cash, while Google is more focused on cloud services and infrastructure for financial institutions and digital asset firms. However, these job postings do not indicate that Apple or Google is preparing to issue their own stablecoins or launch specific services. For now, both companies are primarily building out relevant talent during the hiring phase to evaluate future use cases for stablecoins and tokenized deposits in payments and financial operations.
8 minutes ago
ZCode was found to have a "dual version" immediately after its open-sourcing, leading the community to question whether Zhipu used the open-source project for public relations.
Insight Beating AI News Flash: Zhipu AI has open-sourced ZCode under the Apache 2.0 license, but developers quickly found that the "open-source version" on GitHub is not fully consistent with the version downloadable from its official website. Source code comments note that the open-source version is ineligible for quota-based activity benefits. The upgrade entry remains, but no discount labels or rules are displayed. The repository’s NOTICE.md also explicitly states that the public source code and its build products do not guarantee all features and activity policies of the official product. The official site still offers a separate ZCode client download. While it is common for open-source versions to lack certain commercial features, ZCode’s open source was originally meant to address prior data security controversies and enable external code audits. Given the discrepancies between the official and open-source versions, developers have questioned which ZCode is actually being audited, dubbing the move more of a "PR-style open source".
8 minutes ago
China puts the brakes on humanoid robot IPOs, with revenues from data collection centers facing key scrutiny.
Insight Beating AI Flash News: China is tightening IPOs for humanoid robot companies. Reuters, citing multiple sources familiar with the matter, reports that regulators have used informal "window guidance" to slow the listing process of some firms and raise review thresholds. Some sources say relevant IPOs have effectively been suspended, while others stress this is not an official ban, only a tightening of oversight for the sector. The China Securities Regulatory Commission (CSRC) did not respond to a request for comment. Regulators are zeroing in on the revenue quality of robot companies. Some firms have secured large orders via data collection centers and joint ventures backed by local governments, with local authorities even covering 80% to 90% of initial investment in some projects. Regulators are probing whether these revenues come from genuine independent customer demand or rely mainly on continuous funding from local projects. A person close to robot industry investors estimates that excluding revenue from data collection centers, the valuations of some robot companies could fall by 60% to 70%. Regulators now prioritize whether robots are actually deployed in factories, whether there are sustainable orders, and whether revenue is recurring. The sector has faced warnings earlier: Unitree Robotics saw its stock surge over 5 times on its debut, before dropping 55% from its peak. Mech-Mind CEO Shao Tianlan publicly questioned this month that some embodied intelligence firms are generating unsustainable revenue through data collection centers and related-party transactions, naming Galaxy General; Galaxy General later denied the allegations.
8 minutes ago
Jinse Finance partners with Hyperliquid’s Chinese channel to host a trading rant event, inviting participants to share trading experiences and split a 28.88 HYPE prize pool.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Contest. The 7-day event runs from September 21 to September 28, where users can share their trading stories to win HYPE rewards. Eligible topics include: Who missed out on the Robinhood $PONS wealth train? Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? Last year at this time, $ZEC was only 40 U… Did you catch the privacy narrative? $HYPE and $Lit hit new highs—are you still holding $Aster? The event offers three tiers of rewards, with the top prize being 9.99 HYPE. During the event, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, with support from partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
8 minutes ago
Fraud-related FUD surrounding Kalshi has spilled over to the prediction market: 61% of its bets are multi-event parlay wagers, and its actual trading volume is 14 times lower than its reported figures.
Recently, Kalshi’s crypto perpetual contract trading data has faced widespread skepticism from the community. The controversy began with crypto perpetual contracts: a trader noted that ETH perpetual open interest is only around millions of U.S. dollars, yet daily trading volume reaches hundreds of millions of dollars, with unusually high turnover. Kalshi’s head of crypto business, IcoBeast, responded by addressing the perpetual contracts and its crypto prediction markets separately, stating that prediction markets have no equivalent market maker rebates and their statistical methodology is comparable to industry peers. However, community discussions did not stop at perpetual contracts; suspicions of fraud spread to Kalshi’s core prediction market business. Prominent prediction market trader @retardmode posted that roughly 61% of Kalshi’s disclosed trading volume comes from "multi-event parlay bets" (called "串关" in Chinese), which bundle the outcomes of multiple events into a single ticket that requires all selections to be correct to win. The platform does not calculate volume based on users’ actual wagers, but instead uses a $1 par value per contract. For example, a user spending $1 on a parlay ticket that pays out $14.10 if all selections are correct will be recorded as $14.10 in trading volume. Nearly half of these parlay bets involve 11 or more events, resulting in extremely low win probabilities. Using this methodology, Kalshi’s actual trading volume yesterday was around $136 million, while its publicly disclosed figure was $1.91 billion. Top Polymarket trader @CarOnPolymarket further estimated that the actual trading volume of Kalshi’s parlay bets may only be roughly 7.1% of its disclosed parlay bet amount. Extrapolated monthly, this could create an extreme gap of approximately $4 billion in actual volume versus $57 billion in reported figures.
8 minutes ago
GPT-6 Astra solves Liouville's version of the Goldbach conjecture, with independent verification and approval by Lean.
Insight Beating AI Flash News: Anonymous math community account Captain Sude has released a new proof discovered by GPT-6 Astra, solving the Liouville version of the Goldbach problem. This problem relaxes the "two primes" condition in the classic Goldbach conjecture to "two integers with an odd total number of prime factors". Previously, Durham University mathematician Alexander P. Mangerel could only prove this under the assumptions that the Generalized Riemann Hypothesis holds and the even number is sufficiently large. Astra has now removed both constraints, proving that all even numbers greater than 2 satisfy the condition. The core approach is to first assume that a given even number cannot be split in this way, then derive contradictory results step by step. The full proof has been written in Lean 4. The project compiles successfully, and independent audit repositories have successfully reproduced the result, with no `sorry` statements or additional mathematical axioms found. The classic Goldbach conjecture itself remains unsolved, as the two addends here can still be composite numbers.
Apple and Google are hiring for stablecoin-related roles as they explore new opportunities in the crypto business.
Apple and Google have recently posted job openings related to stablecoins, tokenized deposits, and blockchain technology respectively. Apple has opened a U.S.-based role for Head of Apple Pay Financial Product Strategy, responsible for the medium- and long-term strategy of financial services including Apple Card and Apple Cash, as well as exploring new business opportunities. The role lists knowledge of stablecoins, tokenized deposits, and blockchain technology as a preferred qualification. Google, meanwhile, is hiring a Chief Architect for Web3 in Hong Kong, to lead Google Cloud’s Web3 and digital asset operations in the Asia-Pacific region. The role requires candidates to have relevant knowledge or experience in areas such as real-world asset (RWA) tokenization, stablecoin payment networks, tokenized deposits, and digital asset custody, with target clients including blockchain protocols, institutional trading platforms, digital asset custodians, and financial institutions. Apple’s focus is on exploring the application of stablecoins in consumer financial services like Apple Pay, Apple Card, and Apple Cash, while Google is more focused on cloud services and infrastructure for financial institutions and digital asset firms. However, these job postings do not indicate that Apple or Google is preparing to issue their own stablecoins or launch specific services. For now, both companies are primarily building out relevant talent during the hiring phase to evaluate future use cases for stablecoins and tokenized deposits in payments and financial operations.
8 minutes ago
ZCode was found to have a "dual version" immediately after its open-sourcing, leading the community to question whether Zhipu used the open-source project for public relations.
Insight Beating AI News Flash: Zhipu AI has open-sourced ZCode under the Apache 2.0 license, but developers quickly found that the "open-source version" on GitHub is not fully consistent with the version downloadable from its official website. Source code comments note that the open-source version is ineligible for quota-based activity benefits. The upgrade entry remains, but no discount labels or rules are displayed. The repository’s NOTICE.md also explicitly states that the public source code and its build products do not guarantee all features and activity policies of the official product. The official site still offers a separate ZCode client download. While it is common for open-source versions to lack certain commercial features, ZCode’s open source was originally meant to address prior data security controversies and enable external code audits. Given the discrepancies between the official and open-source versions, developers have questioned which ZCode is actually being audited, dubbing the move more of a "PR-style open source".
8 minutes ago
China puts the brakes on humanoid robot IPOs, with revenues from data collection centers facing key scrutiny.
Insight Beating AI Flash News: China is tightening IPOs for humanoid robot companies. Reuters, citing multiple sources familiar with the matter, reports that regulators have used informal "window guidance" to slow the listing process of some firms and raise review thresholds. Some sources say relevant IPOs have effectively been suspended, while others stress this is not an official ban, only a tightening of oversight for the sector. The China Securities Regulatory Commission (CSRC) did not respond to a request for comment. Regulators are zeroing in on the revenue quality of robot companies. Some firms have secured large orders via data collection centers and joint ventures backed by local governments, with local authorities even covering 80% to 90% of initial investment in some projects. Regulators are probing whether these revenues come from genuine independent customer demand or rely mainly on continuous funding from local projects. A person close to robot industry investors estimates that excluding revenue from data collection centers, the valuations of some robot companies could fall by 60% to 70%. Regulators now prioritize whether robots are actually deployed in factories, whether there are sustainable orders, and whether revenue is recurring. The sector has faced warnings earlier: Unitree Robotics saw its stock surge over 5 times on its debut, before dropping 55% from its peak. Mech-Mind CEO Shao Tianlan publicly questioned this month that some embodied intelligence firms are generating unsustainable revenue through data collection centers and related-party transactions, naming Galaxy General; Galaxy General later denied the allegations.
8 minutes ago
Fraud-related FUD surrounding Kalshi has spilled over to the prediction market: 61% of its bets are multi-event parlay wagers, and its actual trading volume is 14 times lower than its reported figures.
Recently, Kalshi’s crypto perpetual contract trading data has faced widespread skepticism from the community. The controversy began with crypto perpetual contracts: a trader noted that ETH perpetual open interest is only around millions of U.S. dollars, yet daily trading volume reaches hundreds of millions of dollars, with unusually high turnover. Kalshi’s head of crypto business, IcoBeast, responded by addressing the perpetual contracts and its crypto prediction markets separately, stating that prediction markets have no equivalent market maker rebates and their statistical methodology is comparable to industry peers. However, community discussions did not stop at perpetual contracts; suspicions of fraud spread to Kalshi’s core prediction market business. Prominent prediction market trader @retardmode posted that roughly 61% of Kalshi’s disclosed trading volume comes from "multi-event parlay bets" (called "串关" in Chinese), which bundle the outcomes of multiple events into a single ticket that requires all selections to be correct to win. The platform does not calculate volume based on users’ actual wagers, but instead uses a $1 par value per contract. For example, a user spending $1 on a parlay ticket that pays out $14.10 if all selections are correct will be recorded as $14.10 in trading volume. Nearly half of these parlay bets involve 11 or more events, resulting in extremely low win probabilities. Using this methodology, Kalshi’s actual trading volume yesterday was around $136 million, while its publicly disclosed figure was $1.91 billion. Top Polymarket trader @CarOnPolymarket further estimated that the actual trading volume of Kalshi’s parlay bets may only be roughly 7.1% of its disclosed parlay bet amount. Extrapolated monthly, this could create an extreme gap of approximately $4 billion in actual volume versus $57 billion in reported figures.
8 minutes ago
Crypto media Jinse Finance has partnered with Hyperliquid's Chinese channel to launch a trading rant event, where participants can share their trading experiences to split a prize pool of 28.88 HYPE tokens.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Session. The 7-day event runs from September 21 to September 28, where users can win HYPE rewards by sharing their trading stories. Eligible topics include: - Who missed out on Robinhood’s $PONS "wealth train"? - Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? - Back this time last year, $ZEC was only $40... Did you catch the privacy narrative? - $HYPE and $LIT hit new highs—are you still holding $ASTER? The event has three reward tiers, with the top prize being 9.99 HYPE. To participate, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, and supported by partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
8 minutes ago
GPT-6 Astra solves Liouville's version of the Goldbach conjecture, with independent verification and approval by Lean.
Insight Beating AI Flash News: Anonymous math community account Captain Sude has released a new proof discovered by GPT-6 Astra, solving the Liouville version of the Goldbach problem. This problem relaxes the "two primes" condition in the classic Goldbach conjecture to "two integers with an odd total number of prime factors". Previously, Durham University mathematician Alexander P. Mangerel could only prove this under the assumptions that the Generalized Riemann Hypothesis holds and the even number is sufficiently large. Astra has now removed both constraints, proving that all even numbers greater than 2 satisfy the condition. The core approach is to first assume that a given even number cannot be split in this way, then derive contradictory results step by step. The full proof has been written in Lean 4. The project compiles successfully, and independent audit repositories have successfully reproduced the result, with no `sorry` statements or additional mathematical axioms found. The classic Goldbach conjecture itself remains unsolved, as the two addends here can still be composite numbers.
Bitcoin climbed back above $81,000 over the weekend, trading at $81,237 as of Monday, up 5.6% over the past seven days and reversing the dip below $76,000 that followed last Wednesday's Fed rate hike, according to CoinGecko. The rebound pulled the rest of the market with it: total crypto market capitalization reclaimed $2.8 trillion over the weekend and briefly neared $2.9 trillion, with altcoins alone climbing from $1.17 trillion to a peak of $1.23 trillion, according to Coinmarketcap data.
Crypto-linked equities had their best session in months on Friday. Coinbase (COIN) rose 11.7% to $194.25, Strategy (MSTR) jumped 16.4% to $153.92, Robinhood (HOOD) gained 9.1% to $119.82, and Circle (CRCL) added 7.9% to $91.78, according to Yahoo Finance. The moves followed Wall Street's read of the SEC's tokenized-stock exemption issued last week: Goldman Sachs and Citizens analysts named Coinbase, Robinhood and Circle as early beneficiaries, pointing to Coinbase's existing tokenized-equity product and institutional custody business, Robinhood's plan to add share redemption and voting rights to its offshore tokenized products, and Circle's USDC positioned as a settlement currency for onchain markets. Robinhood also drew a wave of price-target increases, including Goldman at $142, StoneX at $170 and Citizens at $165, tied to both the tokenization opportunity and stronger deposit and subscriber growth.
Beyond Bitcoin, gains concentrated in a handful of tokens with specific catalysts rather than a uniform rally. Hyperliquid's HYPE hit a fresh all-time high above $94 after Hyperliquid Strategies, an affiliated buyer, accumulated 4.28 million HYPE tokens, worth roughly $385 million, over three weeks, according to BigGo Finance's reporting. That purchase equaled about 1.4% of HYPE's circulating supply and roughly 15% of recent trading volume, a concentration analyst Shaunda Devens flagged as a risk given that Hyperliquid's revenues have fallen by roughly half since last August even as HYPE's price has nearly doubled over the same period. NEAR Protocol surged 52.6% over the week to near $3.50 after Hyperliquid launched confidential perpetual futures on NEAR on September 17, letting traders open positions without publicly linking them to their accounts. Zcash extended its rally from the previous week, adding another 36% to a multi-year high near $1,590 on continued momentum from Paradigm co-founder Matt Huang's disclosure of a ZEC position days earlier, while Injective gained after 21Shares filed for a spot INJ ETF.
Traders pointed to a mix of relief and rotation to explain the breadth of the move. Bitcoin's rebound came alongside a breakout in the ETH/BTC trading pair, a ratio some analysts treat as an early signal of altseason, and the Crypto Fear and Greed Index has held in greed territory for its longest stretch this year. Some commentary framed Bitcoin's climb in macro terms too, tying it to US federal debt crossing $40 trillion and Bitcoin's fixed 21-million-coin supply as a hedge narrative gaining renewed traction, according to Invezz's market coverage.
The rally still has to contend with the same forces that briefly knocked Bitcoin below $76,000 the week before: the 10-year Treasury yield has drifted back toward 5%, and futures markets are pricing in a further 75 basis points of Fed tightening over the next six months, with Goldman Sachs projecting another hike as soon as October.
According to Defillama data, Pons — a platform for issuing crypto assets, equities, and meme coins linked to Robinhood — generated $24.33 million in revenue over the past 30 days, ranking 10th on the monthly cryptocurrency revenue leaderboard. The top three spots on the list belong to Tether ($488 million), Circle ($198 million), and Hyperliquid ($62.5 million).
Relevant content
China puts the brakes on humanoid robot IPOs, with revenues from data collection centers facing key scrutiny.
Insight Beating AI Flash News: China is tightening IPOs for humanoid robot companies. Reuters, citing multiple sources familiar with the matter, reports that regulators have used informal "window guidance" to slow the listing process of some firms and raise review thresholds. Some sources say relevant IPOs have effectively been suspended, while others stress this is not an official ban, only a tightening of oversight for the sector. The China Securities Regulatory Commission (CSRC) did not respond to a request for comment. Regulators are zeroing in on the revenue quality of robot companies. Some firms have secured large orders via data collection centers and joint ventures backed by local governments, with local authorities even covering 80% to 90% of initial investment in some projects. Regulators are probing whether these revenues come from genuine independent customer demand or rely mainly on continuous funding from local projects. A person close to robot industry investors estimates that excluding revenue from data collection centers, the valuations of some robot companies could fall by 60% to 70%. Regulators now prioritize whether robots are actually deployed in factories, whether there are sustainable orders, and whether revenue is recurring. The sector has faced warnings earlier: Unitree Robotics saw its stock surge over 5 times on its debut, before dropping 55% from its peak. Mech-Mind CEO Shao Tianlan publicly questioned this month that some embodied intelligence firms are generating unsustainable revenue through data collection centers and related-party transactions, naming Galaxy General; Galaxy General later denied the allegations.
13 minutes ago
Jinse Finance partners with Hyperliquid’s Chinese channel to host a trading rant event, inviting participants to share trading experiences and split a 28.88 HYPE prize pool.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Contest. The 7-day event runs from September 21 to September 28, where users can share their trading stories to win HYPE rewards. Eligible topics include: Who missed out on the Robinhood $PONS wealth train? Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? Last year at this time, $ZEC was only 40 U… Did you catch the privacy narrative? $HYPE and $Lit hit new highs—are you still holding $Aster? The event offers three tiers of rewards, with the top prize being 9.99 HYPE. During the event, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, with support from partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
13 minutes ago
Fraud-related FUD surrounding Kalshi has spilled over to the prediction market: 61% of its bets are multi-event parlay wagers, and its actual trading volume is 14 times lower than its reported figures.
Recently, Kalshi’s crypto perpetual contract trading data has faced widespread skepticism from the community. The controversy began with crypto perpetual contracts: a trader noted that ETH perpetual open interest is only around millions of U.S. dollars, yet daily trading volume reaches hundreds of millions of dollars, with unusually high turnover. Kalshi’s head of crypto business, IcoBeast, responded by addressing the perpetual contracts and its crypto prediction markets separately, stating that prediction markets have no equivalent market maker rebates and their statistical methodology is comparable to industry peers. However, community discussions did not stop at perpetual contracts; suspicions of fraud spread to Kalshi’s core prediction market business. Prominent prediction market trader @retardmode posted that roughly 61% of Kalshi’s disclosed trading volume comes from "multi-event parlay bets" (called "串关" in Chinese), which bundle the outcomes of multiple events into a single ticket that requires all selections to be correct to win. The platform does not calculate volume based on users’ actual wagers, but instead uses a $1 par value per contract. For example, a user spending $1 on a parlay ticket that pays out $14.10 if all selections are correct will be recorded as $14.10 in trading volume. Nearly half of these parlay bets involve 11 or more events, resulting in extremely low win probabilities. Using this methodology, Kalshi’s actual trading volume yesterday was around $136 million, while its publicly disclosed figure was $1.91 billion. Top Polymarket trader @CarOnPolymarket further estimated that the actual trading volume of Kalshi’s parlay bets may only be roughly 7.1% of its disclosed parlay bet amount. Extrapolated monthly, this could create an extreme gap of approximately $4 billion in actual volume versus $57 billion in reported figures.
13 minutes ago
Crypto media Jinse Finance has partnered with Hyperliquid's Chinese channel to launch a trading rant event, where participants can share their trading experiences to split a prize pool of 28.88 HYPE tokens.
BlockBeats and Hyperliquid Chinese Channel officially launch the HYPE Community Rant Session. The 7-day event runs from September 21 to September 28, where users can win HYPE rewards by sharing their trading stories. Eligible topics include: - Who missed out on Robinhood’s $PONS "wealth train"? - Who got liquidated while holding positions when crude oil was more volatile than BTC and ETH in the middle of the night? - Back this time last year, $ZEC was only $40... Did you catch the privacy narrative? - $HYPE and $LIT hit new highs—are you still holding $ASTER? The event has three reward tiers, with the top prize being 9.99 HYPE. To participate, users must quote the event’s promotional content, post original topic tweets, and follow the Hyperliquid Chinese Channel. The event is exclusively sponsored by ecosystem project Aqua, and supported by partners TradingBeats, CoinAnk, HyperEVM Chinese Station, and Hyperliquid Madhouse.
13 minutes ago
GPT-6 Astra solves Liouville's version of the Goldbach conjecture, with independent verification and approval by Lean.
Insight Beating AI Flash News: Anonymous math community account Captain Sude has released a new proof discovered by GPT-6 Astra, solving the Liouville version of the Goldbach problem. This problem relaxes the "two primes" condition in the classic Goldbach conjecture to "two integers with an odd total number of prime factors". Previously, Durham University mathematician Alexander P. Mangerel could only prove this under the assumptions that the Generalized Riemann Hypothesis holds and the even number is sufficiently large. Astra has now removed both constraints, proving that all even numbers greater than 2 satisfy the condition. The core approach is to first assume that a given even number cannot be split in this way, then derive contradictory results step by step. The full proof has been written in Lean 4. The project compiles successfully, and independent audit repositories have successfully reproduced the result, with no `sorry` statements or additional mathematical axioms found. The classic Goldbach conjecture itself remains unsolved, as the two addends here can still be composite numbers.
13 minutes ago
Samsung Electronics' shares surged 5%, marking their largest single-day gain in two weeks.
According to Bitget market data, Samsung Electronics’ stock price surged 5%, marking its largest single-day gain in two weeks and leading the Korea Composite Index. Note: Samsung Electronics’ dividend equity registration date is September 30.
Hyperliquid’s HYPE token has solidified its bullish momentum, climbing above the critical $90 resistance level as buyers continue to defend key support zones. The token is currently trading near $91.68, maintaining a series of higher lows and signaling renewed demand.
Buyers remain active after breakout above $90Crypto analyst CryptoGuru12 identified a notable surge, highlighting a strong bullish candle that drove HYPE past recent resistance. The current structure persists as a sequence of higher lows, which many traders view as a sign of continued upward movement.
At this stage, CryptoGuru12 indicated a long setup between $91.50 and $93.40, with upside targets at $95.50, $98.00, and $100.50. However, this setup is considered invalid should HYPE fall below $88.50.
CryptoGuru12 outlined that the bullish setup remains intact as long as HYPE trades above $88.50, while $100.50 serves as a major target on the upside.
After reaching an all-time low near $52 in August, HYPE has demonstrated a sustained uptrend, accelerating after breaking the $90 threshold. The recent consolidation above this level has strengthened buyer control over the market.
Technical indicators confirm bullish momentumHYPE remains above both its 20-day and medium-term EMAs, reinforcing the positive daily trend. The 20-day EMA stands at $83.20, serving as immediate support, while the $76.41 EMA is classified as medium-term support. The 14-day RSI sits at 65.09, indicating persistent momentum even after a minor retracement from a session high of $92.41.
Support/ResistancePrice LevelNear-term support (20 EMA)$83.20Medium-term support (EMA)$76.41Invalidation Level$88.50Resistance / Breakout$93.39Target 1$95.50Target 2$98.00Target 3$100.50With EMAs supporting the upward trend and technical indicators in positive territory, investors remain optimistic as long as HYPE holds above critical support.
Continuous token burns reinforce market backdropIn addition to positive price action, Hyperliquid has continued its program of purchasing and burning HYPE tokens. Onchain Lens, an analytics platform, reported that Hyperliquid burned 26,310 HYPE recently, valued at approximately $2.42 million with a volume-weighted average price of $91.86.
These burns are part of a broader initiative, bringing the all-time cumulative burn to 48.76 million HYPE tokens, which represents 4.88% of the token’s maximum supply. Hyperliquid has also generated $64.34 million in revenues over the last 30 days and $1.26 billion in total revenue, highlighting the growing scale of its operations.
Hyperliquid’s cumulative HYPE token burn now stands at 48.76 million, accounting for almost 5% of its max supply.
While token burns typically decrease the circulating supply, their effectiveness in raising prices largely depends on sustained demand from market participants.
Confidential perpetual trading adds ecosystem growthHyperliquid’s ecosystem received another boost with the integration of confidential perpetual futures, a product launched by NEAR Protocol in collaboration with Hyperliquid. This advancement focuses on obscuring wallet attribution and funding flows rather than hiding the positions themselves, enhancing privacy for institutional traders.
Traders on the platform now have access to over 50 perpetual contracts with up to 40x leverage, with NEAR Intents handling funding mechanisms. Market data remains transparent, but individual wallets and funding trails become significantly harder to trace.
Mini dictionary: NEAR Protocol, a layer-1 blockchain designed for scalability, low fees, and developer-friendly smart contract functionality. The protocol has recently expanded into confidential DeFi products with Hyperliquid, offering advanced privacy features for financial transactions.
As HYPE maintains a position above critical support and the Hyperliquid ecosystem introduces new privacy-driven features, analysts will monitor price levels at $95.50, $98.00, and $100.50 as potential next upside targets. If prices fall below $88.50, attention may shift to the 20-day EMA at $83.20 as the next support.
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.
Zcash (ZEC): ZEC remains firmly bullish despite showing signs of exhaustion after its explosive rally, with $1,400 serving as the key near-term support.
Hyperliquid (HYPE): HYPE maintains a strong breakout structure above $88–$90, with relatively healthy momentum leaving room for another attempt at $94–$95 and potentially $100.
Avalanche (AVAX): AVAX has confirmed a major technical breakout above $10, but overbought conditions increase the risk of consolidation or a short-term pullback.
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Shiba Inu (SHIB): SHIB remains range-bound and technically neutral, with a break above $0.00000560–$0.00000570 needed to establish stronger bullish momentum.
Zcash is exhaustedAfter one of the market's most intense rallies, Zcash is finally displaying signs of weariness. On the daily chart, ZEC is currently trading at about $1,443 after briefly rising to $1,600. ZEC reached about $1,590 on September 19 before sellers intervened, according to recent market data.
ZEC/USDT Chart by TradingViewThe overall structure is still overwhelmingly optimistic. While the major moving averages on the chart continue to rise and remain positively aligned, ZEC trades well above each of them.
The gap between the price and these averages, however, has grown significantly. Because of this, the current decline appears more like an overdue cooldown following a nearly vertical advance than a confirmed trend reversal.
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Additionally, momentum is starting to return to normal. RSI has since moved back toward the mid-60s after previously entering overbought territory. Without destroying the underlying bullish structure, this eliminates some overheating. $1,400 to $1,450 is the immediate area to watch.
ZEC could consolidate before making another attempt at $1,500 and eventually the $1,580–$1,600 resistance area if this zone holds. The most recent breakout accelerated at about $1,300–$1,350, so losing $1,400 would expose that area. Institutional interest in Zcash and Grayscale's Zcash ETF is one example of the recent fundamental attention that has remained strong.
Hyperliquid reaches recordsIn a similar vein, Hyperliquid is trading near record highs, but its structure appears much less stretched. According to recent market data, HYPE is currently around $91 after hitting about $94.5.
HYPE/USDT Chart by TradingViewA strong breakout from the $77–$80 range can be seen on the daily chart. Before facing profit-taking, HYPE quickly surpassed the prior September highs around $88 and set a new peak above $94.
Crucially, the price is still well above the rising short- and medium-term moving averages. There is much more room for momentum expansion than ZEC currently has, because RSI is in the low 60s rather than extremely overbought. The initial significant support is located between $88 and $90.
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The next significant area below it is $84–$86, which is followed by the stronger $78–$80 breakout zone. On the upside, the current resistance is still between $94 and $95. A sustained breakout would shift attention to the psychological $100 level.
Hyperliquid's recent introduction of direct/manual borrowing, which permits HYPE and Bitcoin to be used as collateral, is another key catalyst for HYPE's most recent development. There is now more demand for the token as a result of this feature.
AVAX pushes throughAfter firmly breaking out of the $7.00–$8.20 consolidation range, Avalanche produced one of its strongest technical moves in months, with AVAX rising to roughly $10.27. The size of the move is not the only important aspect.
AVAX/USDT Chart by TradingViewAt nearly the same time, AVAX overcame multiple layers of resistance. The price broke above the roughly $8.50–$8.70 long-term moving average, cleared the short- and medium-term moving averages, and then returned to the psychological $10 level.
During the breakout, volume increased dramatically, which significantly increased the move's credibility compared to earlier recovery attempts. Significant short-term overheating does occur, though. RSI has surpassed 75, and the most recent candle peaked at about $10.83 before pulling back.
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It becomes harder to continue after such a vertical expansion without some sort of consolidation. Bulls must defend $10.00 as the first level. The lower part of the breakout candle is represented by $9.40–$9.50 below that.
Around $8.50–$8.70, a deeper correction might retest the significant breakout zone. The broader technical reversal continues as long as AVAX stays above that area. On the upside, a strong move above $10.80–$11.00 would validate another breakout and leave this chart with comparatively little nearby resistance.
Shiba Inu's volatility calms downThe setup for Shiba Inu is far less explosive. Currently trading at $0.00000535, SHIB is still part of the broad consolidation structure that has been in place since late August. Beneath the surface, there are some positive developments.
SHIB/USDT Chart by TradingViewAround $0.00000500–$0.00000520, SHIB is still trading above its cluster of shorter moving averages, and those averages have begun to rise. Momentum is neither overheated nor significantly depleted, with RSI in neutral territory.
Overhead resistance is the issue. The declining long-term moving average is located in essentially the same region where SHIB has frequently struggled, around $0.00000550–$0.00000560.
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As a result, there is a major technical obstacle. Recent attempts to move above $0.00000550 have drawn sellers. The structure would be significantly improved and a return toward $0.00000600–$0.00000620 could be opened with a daily close above $0.00000560–$0.00000570.
On the other hand, the moving-average cluster would be under pressure if $0.00000520 were lost. At that point, the critical support is approximately $0.00000500. A collapse below it would expose the $0.00000470–$0.00000480 area and jeopardize the recent recovery.
Zcash, Hyperliquid, Avalanche, and Shiba Inu are all at pivotal points as the cryptocurrency market digests recent volatility, with traders closely observing whether major support and resistance levels will trigger further moves or consolidation in the coming days.
Zcash faces cooldown after rallyZcash (ZEC) is currently navigating a period of reduced momentum after a sharp rally earlier this week. As of the latest market data, ZEC is trading near $1,443, retreating from its recent high of $1,600 reached on September 19. During that surge, ZEC approached $1,590 before sellers stepped in.
The overall technical outlook remains constructive, with ZEC holding well above its major moving averages, which are all trending upward. However, the growing gap between the price and these averages suggests the recent pullback is likely a healthy correction rather than a full trend reversal.
Relative strength index (RSI) readings have eased, moving back toward the mid-60s after entering overbought territory. This adjustment has helped cool the market without damaging the underlying bullish trend. Immediate support lies at $1,400–$1,450, a zone seen as critical for sustaining positive momentum.
ZEC’s correction appears more like an overdue cooldown after a rapid advance, with the $1,400–$1,450 area now key for determining whether the bullish trend can continue or if a deeper retreat toward $1,300–$1,350 becomes likely.
If ZEC holds the current support, an attempt to retest $1,500 and the $1,580–$1,600 resistance remains possible. Given ongoing institutional interest, including in the Grayscale Zcash ETF product, attention is set to remain on the asset as the market finds direction.
Hyperliquid momentum and new feature boostHyperliquid (HYPE) is trading near record highs, with its daily price currently around $91 after peaking above $94. This surge followed a strong breakout from the $77–$80 range, pushing the asset above previous September highs of $88 before encountering profit-taking.
Unlike Zcash, HYPE’s technical structure is less stretched, as its RSI remains in the low 60s, signalling room for further growth without immediate overheating. The first strong support area is at $88–$90, with the next key zone at $84–$86 and a significant base at $78–$80 from the earlier breakout.
On the upside, resistance is seen at $94–$95, while a sustained rally could open the door to testing the psychological $100 mark. The token’s recent introduction of direct and manual borrowing—allowing investors to use HYPE and Bitcoin as collateral—has served as a strong catalyst for demand.
HYPE’s swift move past September highs and ongoing demand from its new borrowing feature position it for another attempt at the $100 threshold, provided momentum remains intact above the major support zones.
Avalanche breakout meets resistanceAvalanche (AVAX) recently confirmed one of its strongest breakouts, surging past $10 following a decisive move out of the $7.00–$8.20 consolidation range. At its peak, AVAX touched $10.83 before encountering profit-taking, with prices now hovering near $10.27.
The breakout was backed by a significant spike in volume and the clearing of several technical barriers, including short- and medium-term moving averages and long-term resistance between $8.50–$8.70. This shifted bullish sentiment sharply upward, but overbought signals have begun to appear, with RSI currently above 75.
$10 serves as a key support level, while the $9.40–$9.50 region marks the lower boundary of the breakout move. Should AVAX fall below $8.50–$8.70, deeper corrections may test the resilience of the recent reversal. On the upside, another push above $10.80–$11.00 would further validate the bullish trend.
Shiba Inu retains neutral momentumShiba Inu (SHIB) continues to trade within a broad consolidating channel, currently priced near $0.00000535. Since late August, the token has been range-bound, but it retains some underlying favorable signs.
SHIB is still above a cluster of rising short-term moving averages between $0.00000500 and $0.00000520. The RSI remains neutral, indicating a balanced momentum profile. The main challenge is overhead resistance at $0.00000550–$0.00000560, an area where sellers have repeatedly capped gains.
A daily close above $0.00000560–$0.00000570 would significantly improve SHIB’s outlook, potentially opening a path toward $0.00000600–$0.00000620. Losing $0.00000520, however, would put support at $0.00000500 at risk, and a break lower could expose $0.00000470–$0.00000480, undermining the recent consolidation.
With indicators showing mixed signals, traders have been reminded of the importance of swift market monitoring, especially as key resistance or support zones come into play. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Nine months into 2026, one protocol has lapped the field on revenue. Hyperliquid, the decentralized perpetual futures exchange running on its own Layer-1 blockchain, generated approximately $429 million between January and September, placing it first among all crypto projects by year-to-date income, according to data from gcko.io.
To put that number in perspective: the platform’s cumulative all-time revenue as of mid-September sat somewhere between $1.26 billion and $1.31 billion. That means Hyperliquid has collected more than a third of its entire earnings history in just the first nine months of this year.
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How the money actually flows Hyperliquid routes roughly 99% of eligible perpetual futures trading fees into what it calls the Assistance Fund, which uses those proceeds to buy back and burn HYPE tokens. As of September 2026, approximately 48.7 million HYPE tokens have been removed from circulation, representing about 4.9% of the total supply.
Recent weekly revenue figures hovered around $13.5 million, with daily peaks approaching $3 million. The 30-day revenue recently reached approximately $64 million. Annualizing the weekly run rate puts the platform on a trajectory exceeding $700 million for the full year.
What’s driving the volume Hyperliquid’s revenue engine runs on perpetual futures, the synthetic derivatives contracts that let traders take leveraged positions on crypto assets without ever touching the underlying token. The platform operates on HyperCore, its own Layer-1 blockchain optimized for low-latency execution. Transaction finality arrives in hundreds of milliseconds. Peak daily trading volume has reached billions of dollars.
Why the rankings matter The Assistance Fund model also changes the competitive calculus. Liquidity comes from the platform’s own market-making infrastructure rather than external LPs taking a cut, and development is funded separately from the fee revenue that flows to buybacks. The buyback mechanism works elegantly when fee revenue is growing, but it offers limited buffer if volume drops sharply. A platform that burns its income rather than accumulating reserves has less cushion for adverse conditions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
NEAR climbed about 13% to $4.07 on September 20 as its September rally accelerated. near.com now offers 50+ Hyperliquid perpetual markets with leverage of up to 40x, using NEAR Intents for cross-chain funding. Confidential TVL passed $90 million in NEAR’s September 19 announcement, while live readings subsequently climbed much higher. NEAR extended its September rally on Sunday as near.com expanded its cross-chain infrastructure into leveraged derivatives, launching confidential perpetual futures powered by Hyperliquid.
The token traded around $4.07 on September 20, gaining roughly 13% during the session after touching $4.31.
NEAR trades at $4.0727 after gaining 13.60% on September 20. Source: TradingView Behind the price move is a product that combines NEAR’s cross-chain routing with an established derivatives venue rather than attempting to build a new exchange. Traders can access more than 50 perpetual markets with leverage of up to 40x, while NEAR Intents handles the movement and conversion of assets used to fund their accounts.
The “confidential” label also has an important limitation: it applies to the connection between a trader’s funding source and trading account, not to making Hyperliquid’s underlying market activity invisible.
How NEAR’s Confidential Perps Work The product splits the trading process across three layers.
NEAR Intents handles cross-chain routing and asset conversion. near.com provides the interface and confidential funding process. Hyperliquid supplies the perpetual markets and execution infrastructure.
That setup allows users to start with assets held across supported blockchains rather than manually bridging and converting collateral before reaching the derivatives venue.
Confidentiality is focused on the funding path. Deposits and withdrawals associated with the dedicated trading account are designed to break the publicly visible connection to the original wallet.
The resulting positions should not, however, be treated as completely private trades. Hyperliquid remains the execution venue, so confidentiality around wallet provenance is different from hiding orders and positions themselves.
For larger traders, that separation can be meaningful. Linking a well-funded wallet directly to a leveraged trading account can reveal capital movements and potentially expose information about a trader’s broader activity.
40x Leverage Raises the Stakes Making a derivatives account easier to fund does not make leverage safer.
near.com offers leverage of up to 40x, meaning a trader using the maximum can control a position approximately 40 times the initial margin.
A 2.5% adverse price move would equal the initial margin under simple 40x leverage arithmetic. But that should not be interpreted as a universal 2.5% liquidation threshold.
Actual liquidation depends on maintenance margin requirements, fees and market-specific risk parameters. The near.com interface itself illustrates the difference: an example 10x ZEC position showed a liquidation price roughly 7% below entry rather than the simple 10% suggested by dividing one by leverage.
Cross-chain funding introduces another layer of dependency. Traders are relying not only on the derivatives venue but also on the infrastructure responsible for routing, converting and settling their collateral.
near.com says transactions are signed locally on users’ devices and that users retain control of assets until funds are committed to a position.
Confidential TVL Moves Beyond NEAR’s $90 Million Milestone Capital flowing into NEAR’s confidential infrastructure has increased rapidly alongside the product expansion.
NEAR announced on September 19 in X that near.com had reached $90 million in Confidential TVL. That was a dated milestone rather than a live ceiling on the amount of capital using the infrastructure.
$90 million confidential TVL.
Encrypt your commerce. pic.twitter.com/QsSBRUpxeT
— NEAR Protocol (@NEARProtocol) September 19, 2026
Live dashboard readings subsequently moved into roughly the $170 million-$182 million range as additional capital entered the system.
The difference is largely one of timing. The $90 million figure captures the level NEAR publicly highlighted on September 19, while the dashboard is dynamic and changes as assets move through the relevant infrastructure.
There is another factor to consider when interpreting the increase.
Confidential TVL had previously crossed $70 million, triggering the first snapshot of the [email protected] incentive program. Incentives can attract capital specifically seeking rewards, meaning the headline TVL increase should not automatically be treated as evidence that an equivalent amount represents permanent trading demand.
Retention after the incentive period will therefore provide a cleaner indication of how much capital is staying in the system.
Hyperliquid Gives NEAR Liquidity Without Another DEX The decision to integrate Hyperliquid removes one of the largest obstacles facing a new perpetual platform: creating a liquid market from scratch.
Hyperliquid was processing roughly $240 billion in perpetual-futures volume over a 30-day period in mid-September, giving near.com access to substantial existing trading activity instead of requiring NEAR to attract a separate pool of market makers and traders.
The structure is relatively straightforward:
NEAR Intents: cross-chain routing and asset conversion near.com: confidential funding and account interface Hyperliquid: markets, liquidity and derivatives execution For NEAR, the opportunity is therefore not necessarily to replace an established derivatives exchange. It can instead become part of the infrastructure traders use to reach external liquidity.
A user also does not need to migrate an entire portfolio onto NEAR first. Assets held elsewhere can be routed and converted through Intents into the collateral required for the Hyperliquid account.
This makes adoption of NEAR Intents itself particularly important. If the product succeeds, growth can occur through transaction routing even when the final trade executes outside NEAR’s own markets.
Privacy Does Not Remove Geographic Restrictions Confidential funding should also be separated from regulatory access.
near.com’s perpetual product states that it is unavailable to U.S. persons and users in certain other restricted jurisdictions. The published restriction establishes who may use the product, although near.com does not provide enough information on the product page to conclude precisely how every restriction is technically enforced.
That distinction prevents privacy from being confused with unrestricted access.
Eligible users still face the normal financial risks of leveraged derivatives alongside additional technical dependencies created by cross-chain routing. A private funding path does not change the possibility of liquidation or eliminate smart-contract and infrastructure risk.
NEAR Nearly Doubles During September Rally NEAR’s product expansion has coincided with a dramatic move in the token.
The token was trading near $2.30-$2.40 in mid-September before accelerating on September 17. It subsequently broke through $3 and $3.50 on its way to an intraday high of approximately $4.31 on September 20.
The move represents an increase of more than 75% from the $2.30 area.
The timing does not establish that confidential perpetuals caused the entire rally. NEAR had already attracted attention around Confidential Intents, rising TVL and the [email protected] program, while Bitcoin and the broader crypto market also strengthened during the period.
For the underlying product, the next set of numbers will be more informative than another short-term price move.
Perpetual volume routed through near.com will show whether traders are using the new integration. Confidential TVL after the incentive snapshots will reveal how much capital remains when reward-driven demand fades. And continued NEAR Intents volume will show whether its role as a cross-chain access layer is expanding beyond the initial derivatives launch.
Those metrics will determine whether September’s surge translates into sustained use of NEAR’s infrastructure.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
Hyperliquid just crossed a threshold that most centralized exchanges would envy. Total open interest on the decentralized perpetuals platform surpassed $8.1 billion on September 20, 2026, a new all-time high that cements its status as the dominant force in on-chain derivatives trading.
The 24-hour trading volume at the time of the milestone cleared $1.05 billion, according to DefiLlama.
How Hyperliquid got here When the protocol launched HIP-3 in October 2025, it opened the door to tokenized traditional assets: equities, commodities, and other real-world instruments that had previously been locked behind centralized brokerage accounts. Tokenized asset markets under HIP-3 now sometimes account for more than 30% of total open interest on the platform.
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Hyperliquid operates as a Layer-1 blockchain with a custom consensus mechanism built specifically for high-speed trade execution. In practical terms, this means order fills and liquidations happen fast enough to compete with centralized platforms on responsiveness.
The HYPE token math HYPE, the platform’s native token, was trading between $90.88 and $91.32 around the time of the all-time high, with recent local peaks touching the $93 to $94 range.
Approximately 26,310 HYPE tokens were burned in a single 24-hour window, worth roughly $2.4 million at current prices. Hyperliquid funds these burns through trading fees, which flow into an on-chain Assistance Fund that executes HYPE buybacks and destroys the tokens. Lifetime burns have now surpassed 48 million HYPE tokens, representing about 4.88% of the maximum possible supply.
What the market share number actually means Hyperliquid now accounts for approximately 10.9% of global perpetual futures open interest, a record share. Capturing roughly 11% of a global market while operating entirely on-chain, without a centralized order book or custodied funds, is an outcome that would have sounded optimistic as a five-year forecast in 2023. It happened in under three years.
As tokenized equities and commodities become a larger share of Hyperliquid’s volume, the platform increasingly competes for the same traders who use traditional derivatives platforms, a much larger addressable market than the existing crypto derivatives space.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
According to data from Hypeflows, Hyperliquid currently holds a 10.9% share of the global perpetual contract market (including all centralized exchanges such as Binance, Bybit, and OKX) based on open interest, hitting an all-time high. Per HTX market data, HYPE is trading at $91.32, down 1.7% in the past 24 hours.
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The price of HYPE has surged after finding strong support at $76, pushing the token close to its previous all-time high. This renewed strength follows an expansion of Hyperliquid’s lending infrastructure and significant purchases of HYPE by major institutional asset managers. These developments have brought attention back to HYPE’s technical levels and its potential for further gains.
Key support holds as HYPE recoversEarlier this week, HYPE dropped to a low of around $75.2 before quickly recovering and closing at $85.18 on September 17. This strong bounce established the $76 level as a critical support area for traders and analysts monitoring the market.
With HYPE now trading near its previous all-time high of approximately $89.60, market participants are watching to see if the token can break into new price territory. Sustained movement above this level would push HYPE into price discovery, while failure to do so could bring the $76 support back into play.
Crypto analyst Bitcoin Meraklisi emphasized that the reaction at the $76 level could keep upward momentum intact—provided that broader market conditions remain favorable.
As the price rebounds from the $76 support area, the next major test for HYPE is the previous all-time high near $89.60. A strong breakout above this could mark the start of a new upward phase, while a rejection would highlight the importance of support in the current structure.
Hyperliquid launches manual borrowingHyperliquid, a decentralized finance platform, has introduced manual borrowing as a new feature within its existing HyperCore infrastructure. This allows users to supply HYPE or Bitcoin as collateral and borrow major quote assets like USDC and USDT.
Hyperliquid stated that both manual borrowing and portfolio margin rely on its core HyperCore technology. On the first day of the new system, users borrowed a combined $269 million, reflecting strong demand for the service.
The addition of borrowing expands the use cases for HYPE within the Hyperliquid ecosystem. Users can now generate interest by borrowing and supplying supported assets, with rates based on overall platform utilization.
This integration creates a direct link between HYPE’s market value and activity across Hyperliquid’s financial products. While higher usage as collateral can increase demand for HYPE, greater borrowing volumes do not automatically translate into price appreciation.
Mini dictionary: Hyperliquid is a decentralized exchange and financial platform featuring on-chain derivatives, lending, and staking solutions. HyperCore is its underlying modular infrastructure for collateral management and margin operations.
Institutional activity and key price levelsRecent on-chain data highlights notable purchases of HYPE by institutional asset managers. Arkham reported that 21Shares acquired approximately $2.4 million worth of HYPE, marking its first such purchase in 20 days. Bitwise, another major fund, bought around $1.9 million in HYPE during the same period.
These acquisitions provide additional context to the recent price rally and indicate growing institutional exposure at current prices. However, analysis shows that the HYPE price recovery began before these wallet movements, suggesting multiple factors are contributing to the positive momentum.
While wallet activity is significant, it is viewed as just one aspect of the market landscape. Large purchases alone do not determine the future trajectory of HYPE’s price.
InstitutionHYPE Purchase AmountTiming21Shares$2.4 millionFirst purchase after 20 daysBitwise$1.9 millionRecentFrom a technical perspective, the $76 support area remains pivotal, while resistance near $89.60 and the $90 psychological level define the upper end of the current range. A breakout above these levels would indicate the start of a new price discovery phase, while a reversal could trigger another test of lower supports.
Traders are watching whether HYPE can close above the $89.60-$90 level, as surpassing this resistance would mark a change in market structure and set the stage for further upside. Failure to do so may signal renewed pressure on the $76 support.
As market volatility persists, the next move for HYPE will depend on its ability to hold above key support and break through established resistance. Ongoing expansion at Hyperliquid, combined with high-profile institutional purchases, may continue to influence short-term price trends.
Top decentralized finance (DeFi) tokens like Hyperliquid (CRYPTO: HYPE) and Uniswap (CRYPTO: UNI) have jumped in the past few weeks as demand from investors has continued to rise.
HYPE token has jumped by 78% in the last 30 days and is hovering near its all-time high, with its market capitalization rising to over $23 billion. UNI has soared by 142% in this period and is now trading at its highest level since November last year.
Other popular DeFi tokens like Raydium, Lighter, PancakeSwap, and Aerodrome Finance have continued to rise this month.
HYPE and UNI tokens jumped after the SEC issued an order granting temporary, conditional exemptive relief to tokenized securities venues (TSV) to trade tokenized National Market System (NMS) stock using automated market makers and liquidity pools.
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Tokenized stocks have become highly popular among traders, especially during the recent crypto winter when Bitcoin and most altcoins were in a strong sell-off. However, they have come under criticism from some of the top players in the US. For example, AMC Entertainment’s (NYSE:AMC) CEO, Adam Aron, has criticized tokenized stocks for not being real assets.
The announcement came at a time when their volume and futures open interest have continued rising. HYPE’s surge also came at a time when Hyperliquid is considering entering the US, a move that Donald Trump and the CFTC support. Hyperliquid’s perpetual trading volume jumped to over $240 billion in the last 30 days.
HYPE Price Rally is AcceleratingThe daily chart shows that the HYPE token has been in a strong surge, moving from a low of $20.3 in January to $93 today. It recently crossed the important resistance level of $76, its highest level on June 16. It has also retested that level, confirming a break-and-retest pattern.
HYPE has jumped above the key resistance level of $89.38, its previous all-time high. Also, it remains above all moving averages, while the Average Directional Index (ADX) is at 41. Therefore, the token will likely continue rising as bulls target the key resistance at $100.
Uniswap Price PredictionThe daily chart also shows that the UNI token bottomed at $2.31 in June to a high of $9.5 this week. It recently crossed the important resistance level of $7.47, its highest level on September 6.
The token has jumped above the 50-day and 200-day moving averages, while the Relative Strength Index (RSI) has soared to 77.7. The most likely scenario is that it retreats and retests the support of $7.47 and then resumes the uptrend.
NEAR Protocol has unveiled confidential perpetual futures on near.com, marking a significant step in expanding its derivatives capabilities. The introduction, powered by Hyperliquid, comes as NEAR trades at $3.606, reflecting a 4.17% daily decline but maintaining its position well above the key $2.827 resistance level.
NEAR breaks key resistance, eyes higher targetsRecent technical analysis shows that NEAR’s price broke through the $2.827 resistance, a level it had struggled to surpass for several weeks. The breakout led to a rally towards $3.914, nearly reaching the $4 threshold before retracement occurred.
The price remains considerably above the middle line of the Bollinger Band, now at roughly $2.449, highlighting strong upward momentum in the short term. With the asset trading above significant resistance levels, market participants are watching for signs of sustained bullish activity, particularly a close and hold above the $4 mark.
On-chain data from TradingView further underscores the rally. The On-Balance Volume (OBV) indicator has risen to 792.82 million alongside the current price movement, indicating that the recent breakout is supported by higher trading volumes and increased buying interest rather than isolated price spikes.
Market sentiment and technical outlookA sustained move above $4 would likely reinforce NEAR’s upward structure, while any correction could see the asset revisiting support near $2.827. In a scenario where price fails to maintain these levels, further downside toward lower support bands could follow.
The recent announcement from NEAR Protocol emphasizes the platform’s growing infrastructure.
NEAR Protocol highlights that confidential perpetual futures are now operational at near.com, offering new derivatives opportunities within the network and enhancing perpetual futures trading infrastructure.
This derivatives expansion arrives during a period of heightened trading activity and price movement for NEAR. However, it remains unclear to what extent the launch of perpetual futures is driving the overall increase in network engagement, as current data do not show a direct causal link.
Network activity and DeFi contextData from DeFiLlama provides additional perspective by tracking total value locked (TVL) alongside the number of active addresses and transactions on the NEAR network. These metrics offer further context for understanding ecosystem growth and investor behavior.
Recent charts indicate climbing network activity, with TVL highlighted as a primary measure of the funds committed across decentralized applications on NEAR. However, TVL alone does not confirm that perpetual futures are solely responsible for the increase in user engagement or asset price.
With the breakout from a consolidating triangle and the price’s proximity to the $4 area, market participants are closely monitoring technical levels and investor strategies. In this context, the meme token market serves as a reminder of how quickly attention can shift due to internet-driven trends. According to Fomo App data, a $99 investment in the meme token “Niu Lai” turned into about $370,000, underlining the importance of tracking both trading timing and token selection. Fomo App integrates token discovery, social feeds, investor rankings, and transaction alerts to provide insight into meme token activity and investor decisions.
Crypto markets remain highly volatile. Traders are advised to follow price action, sentiment shifts, and key technical levels before making investment decisions.
Market observers are watching whether NEAR can maintain levels above $2.827 to sustain the breakout structure, while a confirmed move above $4 would signal continued bullish momentum according to the daily chart.
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Hyperliquid’s open interest (OI) has hit a new all-time high of $16.36 billion, surpassing the previous record set exactly one year ago on September 18, 2025. Over the past 12 months, the platform has evolved from a crypto perpetual trading venue to an on-chain trading infrastructure supporting stocks, commodities, indices, pre-IPO assets, and event contracts. Launched in October 2025, HIP-3 enables third parties to stake HYPE and deploy their own perpetual markets, with underlying assets spanning US equities, gold, crude oil, the S&P 500, and private firms including SpaceX. As of early September 2026, cumulative trading volume on HIP-3 markets exceeded $548 billion, representing roughly 30% of the platform’s total trading volume over the prior 30 days. HIP-4, rolled out in May 2026, filled the gap in prediction markets and event contracts, and was further opened to third-party deployments at the end of August. During the same period, issuers including 21Shares, Bitwise, and Grayscale sequentially launched HYPE spot or staking-based ETFs; the platform also launched native lending services and advanced licensed HIP-3 markets for US users.
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Donald Trump has launched a poll to rename "artificial intelligence", proposing the new names could be Superior Intelligence, Extreme Intelligence, or Supreme Intelligence.
Former U.S. President Donald Trump posted on Truth Social that many people find the term "Artificial Intelligence" inaccurate and awkward, making it an inappropriate descriptor for AI. For this emerging phenomenon, more elegant and precise alternatives are Superior Intelligence (SI), Extreme Intelligence (EI), or Supreme Intelligence (SI). This is a poll, and he hopes everyone will vote: What is the best name for this evolving "revolution"? To date, 10,183 votes have been cast, with 1 day remaining until the poll closes.
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Analysis: BTC is in a descending wedge compression pattern, awaiting a directional breakout; total market cap expansion for altcoins has not yet begun.
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Binance Security Advisory: iPhone users are advised to check if they have installed FomoPeek, an app that exploits an iOS vulnerability to gain full device privileges.
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Project Paid has launched a token issuance feature on Pons, enabling automatic royalty splitting for creators.
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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.
Hyperliquid pulled in $3.07 million in protocol revenue over a single 24-hour period, part of a broader wave that saw four major onchain platforms simultaneously post their best weekly numbers. According to data tracked by DefiLlama, Hyperliquid’s 7-day revenue total reached approximately $13.47 million, cementing its position as one of the highest-earning protocols in decentralized finance outside of stablecoin issuers.
The other three protocols sharing the spotlight, Pump (pump.fun), StonkFun (Stonk), and Pons, each hit personal weekly revenue records of their own.
The numbers behind the surge Hyperliquid’s revenue engine runs almost entirely on perpetual futures trading. Roughly 99% of eligible perps fees get funneled into HYPE buybacks and burns via the protocol’s Assistance Fund.
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StonkFun, operating in the token launchpad space, posted a peak single-day revenue figure of $1.84 million during the same stretch.
Pons demonstrated perhaps the most consistent performance of the group, with approximately $17.8 million in revenue over its trailing 30-day window.
Pump, the Solana-based memecoin launchpad, rounded out the quartet, capitalizing on continued activity within the Solana ecosystem.
Why revenue matters more than TVL right now DefiLlama’s rankings now place these protocols among the top onchain revenue generators when you exclude stablecoin issuers like Tether and Circle. That’s a meaningful filter, because stablecoin revenue is a fundamentally different business model built on interest income from reserves rather than protocol fees from users.
Activity levels surged particularly around mid-September, with revenue leadership shifting frequently among these platforms.
Buybacks, burns, and what comes next Hyperliquid’s approach is the most aggressive, directing nearly all eligible fees into its Assistance Fund for HYPE buybacks and burns. The launchpad protocols tend to split their earnings between treasury accumulation and token buyback initiatives.
For Hyperliquid specifically, the $13.47 million weekly revenue figure translates to an annualized run rate north of $700 million.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
According to monitoring by OnchainLens, Hyperliquid burned $2.42 million worth of HYPE tokens within 24 hours, at a weighted average price of $91.86, totaling 26,310 HYPE tokens destroyed. The cumulative burn volume of HYPE tokens currently stands at 48.76 million (valued at approximately $4.5 billion), accounting for 4.88% of its maximum supply. Over the past 30 days, Hyperliquid generated $64.34 million in revenue, bringing its cumulative total revenue to $1.26 billion.
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.
"BTC OG Insider Whale" agent Garrett Jin has consecutively posted two screenshots of ZEC (Zcash) spot withdrawals from Binance, along with corresponding Zcash blockchain explorer links. Records show that on December 20, 2025, he withdrew 134,000 ZEC and 68,076.23 ZEC from his Binance spot account successively, totaling approximately 202,100 ZEC. At ZEC’s current price of around $1,560, this address’s holdings are valued at roughly $315 million. Garrett recently drew attention for holding a large-scale ZEC short position on Hyperliquid, which has incurred tens of millions of dollars in unrealized losses. This post is intended to reveal that his contract short position is more likely a hedge against his massive spot holdings, rather than a pure naked short. According to TradingBeats’ monitoring, the unrealized loss on the ZEC short position held by "BTC OG Insider Whale" agent Garrett Jin has reached $33.83 million, with the short position size at 37,999.54 ZEC, valued at $59.33 million, funding rate income of $660,000, and liquidation price at $4,790.
Zcash (CRYPTO: ZEC) gained 22% over the last week after Grayscale offered a Zcash investment product for roughly nine years, citing privacy as a key part of its investment thesis. The asset manager also gave the green light to add Bitcoin (CRYPTO: BTC) to investor portfolios
Glassnode data reinforced that thesis, showing how privacy coins such as Zcash have emerged as one of crypto’s standout trades.
Hyperliquid (NASDAQ:PURR) added 11% in weekly gains as SEC approved the Innovation Exemption, a temporary order allowing tokenized stock trading on-chain for the first time.
The order requires trading on public, permissionless blockchains using auditable smart contracts, closely aligning with HYPE’s on-chain DEX model.
Crypto analyst Kevin Capital said investors seeking "life-changing gains" should include Bitcoin as their largest crypto position pushing the crypto king around 4% higher over the week.
Echoing a similar sentiment, hedge fund manager Richard Galvin sees Bitcoin and the broader cryptocurrency market may be approaching a major cyclical turning point.
He argued that depressed trading activity, tokenization and artificial intelligence could combine to drive the next expansion.
Why Crypto Is Nearing A BottomSpeaking with Real Vision CEO Raoul Pal on Sep.17, Galvin noted crypto appears to be "at or pretty close" to a cyclical bottom in trading volumes, even if prices face another leg lower before a sustained recovery.
Galvin sees decentralized trading volume as a key cycle gauge. After surging to $500 billion in January 2025, volumes have fallen to around $130 billion-$140 billion, resembling previous crypto bottoms.
While another decline remains possible in October, November or even January, he said trying to perfectly time the bottom risks missing the larger move.
His view aligns with recent institutional calls around Bitcoin.
Galvin Vouches For Zcash, HYPEGalvin also highlighted Zcash, arguing that financial privacy remains one of crypto’s most durable use cases.
His firm initially backed privacy assets including Monero years ago, based on the thesis that a growing BTC economy would eventually require a privacy-focused counterpart.
He believes Zcash is increasingly filling that role.
Galvin added that decentralized exchanges, lending protocols and perpetual futures platforms have already survived several brutal crypto cycles, demonstrating that blockchain infrastructure can operate cheaply and at scale.
Now, TradFi is beginning to move assets onto those rails.
“Basically, every exchange in the world either has a plan or is already moving or migrating some of its business on chain,” Galvin highlighted.
That thesis supports Hyperliquid and its role in the broader crypto market.
U.S. spot crypto exchange-traded products recorded about $70.7 million in combined net outflows during the Sep. 14–18 trading week, as withdrawals from Ether funds outweighed demand for Bitcoin, Solana, and Hyperliquid products.
Summary
Spot Bitcoin ETFs ended the week with a modest $6.1 million net inflow after attracting $433 million on Friday. Spot Ether ETFs lost about $140.6 million, extending their weaker flow trend despite a $143.7 million Friday rebound. Solana ETFs took in $60.7 million, led by $47.6 million entering Bitwise’s BSOL on Friday. Hyperliquid ETFs recorded $3.1 million in weekly net inflows after three positive sessions offset Tuesday’s withdrawals. The flows came during a volatile week in which the Federal Reserve raised interest rates by 25 basis points, and Bitcoin later reclaimed $80,000. According to data from Farside Investors, the four U.S. crypto ETF categories tracked by the firm diverged sharply during the week. Bitcoin products recovered from $746.3 million of combined withdrawals on Tuesday and Wednesday, while Ether ETFs failed to erase their midweek losses.
Solana funds drew fresh capital in four of the five sessions, including their strongest day of the week on Friday. Hyperliquid products also finished positive, although their $3.1 million weekly gain remained small compared with flows into the larger crypto funds.
Bitcoin ETFs erase most weekly losses with $433M Friday inflow U.S. spot Bitcoin ETFs posted a net inflow of $6.1 million for the week after two large redemption days nearly pushed the group to a steep weekly loss.
The funds began with a $159.9 million inflow on Monday before losing $450.4 million on Tuesday and $295.9 million on Wednesday. Investors returned on Thursday with $159.5 million, followed by $433 million on Friday, the largest daily inflow of the week.
BlackRock’s IBIT led the weekly rankings with $120.6 million in net inflows. Fidelity’s FBTC followed with $79.9 million after drawing $310.7 million on Friday, the biggest single-fund inflow recorded that day.
Morgan Stanley’s MSBT added $13.2 million, while Franklin Templeton’s EZBC received $4.6 million. The gains were partly offset by $141.9 million in withdrawals from ARK 21Shares’ ARKB and $62.3 million from Grayscale’s GBTC. Bitwise’s BITB lost $2.7 million, and VanEck’s HODL shed $5.3 million.
The late reversal coincided with Bitcoin’s return above $80,000 on Friday. The asset had come under pressure earlier in the week as the Federal Reserve raised its target rate by 25 basis points to 3.75%–4.00%, its first increase in more than three years. Bitcoin later rallied as oil prices eased and crypto-linked stocks recovered.
Ether ETFs post $140.6M weekly outflow U.S. spot Ether ETFs recorded approximately $140.6 million in net withdrawals, making Ether the weakest of the four crypto ETF categories covered by Farside.
The group attracted $121.1 million on Monday but lost $142 million on Tuesday, $224.1 million on Wednesday and $39.3 million on Thursday. A $143.7 million Friday inflow reduced the weekly deficit without fully reversing it.
BlackRock’s ETHA accounted for a net weekly outflow of $56.1 million despite taking in $114.3 million on Friday. Fidelity’s FETH lost $25.9 million, while Bitwise’s ETHW shed $33.1 million.
Grayscale’s ETHE posted $31.4 million in withdrawals. VanEck’s ETHV lost $10.3 million, 21Shares’ TETH shed $1.9 million, and Invesco’s QETH recorded a $5.4 million outflow.
BlackRock’s ETHB and Grayscale’s lower-fee ETH fund moved in the opposite direction, taking in $7 million and $16.2 million, respectively. Farside’s daily totals contain rounded fund-level figures, which can produce small differences when individual entries are added.
Ether’s negative weekly result widened the gap with Bitcoin products. Bitcoin ETFs recovered nearly all of their midweek redemptions, while the Friday demand for Ether funds covered only part of the $405.4 million withdrawn across the prior three sessions.
Solana ETFs draw $60.7M as BSOL leads Friday demand Farside’s Solana ETF data showed $60.7 million in net inflows for the week, the strongest total among the four tracked crypto assets.
Solana funds received $11 million on Monday, $1.3 million on Tuesday and $800,000 on Wednesday. Thursday ended with no net movement before Friday’s inflow reached $47.6 million.
Bitwise’s BSOL generated $58.7 million of the weekly total. Grayscale’s GSOL contributed a net $2 million after a $3.9 million Monday inflow was partly offset by a $1.9 million withdrawal on Wednesday.
The remaining Solana products reported no net flows during the week. Friday’s $47.6 million allocation went entirely to BSOL, giving the Bitwise fund almost 97% of the category’s weekly net intake.
Hyperliquid ETFs add $3.1M during mixed week Hyperliquid ETFs ended the week with $3.1 million in net inflows. The products recorded no movement on Monday, followed by a $3.9 million outflow from Bitwise’s BHYP on Tuesday.
Flows turned positive during the rest of the week. 21Shares’ HYPG received $1.7 million on Wednesday, while Thursday brought $1.9 million into BHYP and $2.4 million into 21Shares’ THYP. BHYP added another $1 million on Friday.
The combined weekly data left Bitcoin funds close to flat, Ether products in net redemptions and the two smaller altcoin categories positive. Across all four categories, approximately $70.7 million exited on a net basis, with the $140.6 million Ether outflow exceeding the combined inflows into Bitcoin, Solana and Hyperliquid funds.
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.
Altcoin season has arrived; the TOTAL3 index has risen over 22% in 30 days, and market sentiment continues to improve.
The altcoin market remains hot, with the TOTAL3 index (total market capitalization of cryptocurrencies excluding Bitcoin and Ethereum) rising over 22% in the past 30 days, while Ethereum’s market share increased by 10.23% over the same period. According to HTX market data, in the last 24 hours: AR rallied more than 46% to a market cap of $260 million; STRK jumped over 32% to $302 million; XTZ gained more than 28% to $354 million; F rose over 27% to $20 million; SYN climbed more than 28% to $54 million; G advanced over 23% to $84 million; INJ rallied more than 23% to $732 million; ZAMA surged over 22% to $205 million; MORPHO jumped more than 18% to $1.721 billion; SKY gained over 14% to $1.671 billion.
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Whale Linked to Matrixport Deposits 1,000 $BTC ($81.06M) to Binance
Whale bc1qsz, linked to (Matrixport), just deposited another 1,000 $BTC ($81.06M) into #Binance.
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Whale Deposits 33,180 $ETH ($86.93M) to Bitfinex After 2 Years, Banks $20.48M Profit
Two wallets (likely belonging to the same whale) deposited 33,180 $ETH ($86.93M) into #Bitfinex after more than 2 years of inactivity, making a $20.48M profit!
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An address dormant for over two years has deposited 33,180 ETH into Bitfinex, valued at $86.93 million.
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Altcoin season has arrived; the TOTAL3 index has risen over 22% in 30 days, and market sentiment continues to improve.
The altcoin market remains hot, with the TOTAL3 index (total market capitalization of cryptocurrencies excluding Bitcoin and Ethereum) rising over 22% in the past 30 days, while Ethereum’s market share increased by 10.23% over the same period. According to HTX market data, in the last 24 hours: AR rallied more than 46% to a market cap of $260 million; STRK jumped over 32% to $302 million; XTZ gained more than 28% to $354 million; F rose over 27% to $20 million; SYN climbed more than 28% to $54 million; G advanced over 23% to $84 million; INJ rallied more than 23% to $732 million; ZAMA surged over 22% to $205 million; MORPHO jumped more than 18% to $1.721 billion; SKY gained over 14% to $1.671 billion.
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An address dormant for over two years has deposited 33,180 ETH into Bitfinex, worth $86.93 million.
According to Lookonchain's monitoring, two wallet addresses suspected to belong to the same whale, after being dormant for over two years, deposited 33,180 ETH into Bitfinex, valued at roughly $86.93 million. These ETH currently hold an unrealized profit of around $20.48 million.
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Whale Linked to Matrixport Deposits 1,000 $BTC ($81.06M) to Binance
Whale bc1qsz, linked to (Matrixport), just deposited another 1,000 $BTC ($81.06M) into #Binance.
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Whale Deposits 33,180 $ETH ($86.93M) to Bitfinex After 2 Years, Banks $20.48M Profit
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9 minutes ago
An address dormant for over two years has deposited 33,180 ETH into Bitfinex, valued at $86.93 million.
According to Lookonchain’s monitoring, two wallet addresses suspected to belong to the same crypto whale, after being dormant for over two years, deposited 33,180 ETH to Bitfinex, valued at roughly $86.93 million. The ETH holdings currently boast an unrealized profit of around $20.48 million.
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AI computing power firm Nscale has filed a US IPO application, planning to raise $3 billion, with NVIDIA holding over 5% of its shares.
Beating AI News Flash: AI data center operator Nscale has filed an initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC), planning to list in New York and raise up to $3 billion, with the proposed stock ticker NSCL. The company was spun off from its cryptocurrency mining business in early 2024 and has since transitioned into an AI computing infrastructure service provider. According to its prospectus, as of August 2026, Nscale owns and controls data centers with a total power capacity exceeding 10GW, holding total contracts worth approximately $103 billion, including a $45 billion lease commitment from Anthropic this August. Nscale’s clients and partners include NVIDIA, Microsoft, and other firms. The company has posted rapid revenue growth alongside expanding losses: in the six months ended June 30, it generated $140.6 million in revenue, a year-on-year increase of over 12 times, while its net loss reached $1.02 billion, compared with a net loss of $368.9 million in the same period last year. In March this year, Nscale closed its Series C financing round, led by Aker ASA and 8090 Industries, with participation from NVIDIA, Nokia, and others, valuing the company at roughly $14.6 billion. The prospectus shows NVIDIA holds more than 5% of Nscale’s shares, which are non-voting. Additionally, Nscale plans to issue $1 billion in unsecured convertible loan notes or non-voting shares to NVIDIA. Nscale is currently accelerating its AI data center expansion: its Monarch campus in West Virginia is expected to reach a 2GW power capacity when it launches operations in 2028, with plans to scale to around 8GW by 2031. The company also announced in July this year that it would acquire AI software firm Anyscale for $1.65 billion to further extend its AI computing power software services. Goldman Sachs, JPMorgan Chase, and Morgan Stanley are acting as lead underwriters for the IPO.
Hyperliquid has launched manual borrowing and lending, letting traders post HYPE and Bitcoin as collateral to borrow USDC and USDT, with roughly $269 million borrowed on the first day, according to a post by co-founder Jeff Yan. The feature adds a native credit layer to the Layer-1 exchange, with borrowing rates tied to utilization and interest paid out to the traders who supply the stablecoins. It marks the platform’s first direct move into on-chain credit, extending a venue best known for perpetual futures.
How Borrowing and Lending Work Users deposit HYPE or BTC as collateral and take out manual borrows in USDC or USDT, giving them explicit control over the loan rather than relying on margin that is automatically drawn from open positions. Borrowers pay interest that rises with how much of each pool is being used, while suppliers earn a share of those fees for providing idle stablecoins. Rates are set by utilization rather than by governance, so borrowing costs move with real demand. Because the feature shares infrastructure with the platform’s existing portfolio margin system, the same collateral can be reused across perpetual futures and spot positions instead of being locked inside a separate vault.
A Modular Credit Layer on HyperCore Yan described the design as modular, saying the team first built a standalone lending protocol on HyperCore and then connected it to perpetual futures, spot trading, and other functions through portfolio margin. That approach, he said, isolates lending risk, lets idle stablecoin collateral earn interest, and makes system-wide risk easier to assess than a single combined margin pool would. Keeping the lending module distinct also means the platform can stress-test one component without disturbing the rest of the exchange.
What the Launch Signals for Hyperliquid The $269 million in first-day borrows points to immediate demand from traders who want to fund positions without selling their existing holdings. The move also puts Hyperliquid more directly alongside dedicated DeFi lending protocols while keeping the collateral on its own chain, and it arrives as the exchange has been expanding well beyond its perpetuals roots. Recent activity includes automated basis trading strategies built on the platform and a $2.5 billion equity financing facility for Hyperliquid Strategies. Early borrowing figures are a single day’s snapshot, and it remains to be seen whether demand holds once rates shift with utilization.
AUTHOR
Entrepreneur and freelance writer based in Nakuru, Kenya. I cover cryptocurrency, the Blockchain technology, and financial topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how crypto is disrupting the world as we have known it. I believe in transforming the world, one word at a time.
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.
Uniswap (UNI): UNI remains bullish after its breakout, but the sharp rejection near $9.44 raises the risk of a short-term correction.Near Protocol (NEAR): NEAR’s high-volume breakout remains strong, though the rapid surge toward $4.00 leaves it vulnerable to profit-taking.Hyperliquid (HYPE): HYPE remains in a strong uptrend near record highs, with $92 and $100 as key levels while $85–$87 provides immediate support.Bitcoin (BTC): Bitcoin has recovered above $80,000, but a breakout through $81,000–$82,000 is needed to escape its month-long consolidation.Unexpected breakthrough of UNIAfter briefly reaching about $9.44, UNI is currently trading at about $8.69 as Uniswap accelerates into one of its strongest short-term breakouts of the year. UNI has almost tripled from the local bottom as a result of this move, which continues a rally that began around $3.20 in mid-August.
UNI/USDT Chart by TradingViewBecause UNI firmly cleared the $7.20–$7.50 region that rejected the asset earlier in September, the most recent breakout is especially significant. UNI corrected toward $5.90 following that rejection, but sellers were unable to create a lower low. Rather, the price stabilized between $6.00 and $6.70 before soaring.
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An immediate warning is introduced by the large upper wick toward $9.44. A short-term correction is becoming more likely due to the nearly vertical nature of the most recent advance and the obvious substantial supply that buyers encountered above $9.00.
Maintaining the breakout structure would require holding between $7.80 and $8.00. The more crucial support zone below it is between $7.20 and $7.50. The immediate targets if buyers regain control are $9.00 and the most recent peak of $9.44, with $10 emerging as the clear psychological level later on.
Although UNI is still technically bullish, buying at the earlier breakout level is far less risky than chasing a nearly vertical move.
Can NEAR push through? After completely destroying resistance around $2.80–$3.00, NEAR has entered price discovery relative to its recent trading range. The asset is presently trading close to $3.62, and the candle for today is at about $3.78.
NEAR/USDT Chart by TradingViewThe size of the breakout is substantial. Before its recovery picked up speed in September, NEAR traded below $2.20 for the majority of June and August. Following a consolidation between $2.30 and $2.50, buyers generated a series of high-volume breakout candles through $2.60 and $3.00.
Important confirmation is provided by volume. During the most recent advance, trading activity has increased significantly, setting the breakout apart from the comparatively low-volume price movements observed in July and August. But in just a few sessions, NEAR has now gone from roughly $2.35 to $3.62.
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Even if the broader bullish structure holds, this leaves the market significantly extended and susceptible to profit-taking. The psychologically significant $4.00 level comes after the immediate resistance of $3.75–$3.80.
The first important support area during a correction is $3.10–$3.20, and the main breakout support should now be around $2.80–$3.00. Although buyers are currently in the lead, volatility should continue to be extremely high following such an abrupt expansion.
Hyperliquid enters correctionAfter buyers erased nearly all of the mid-September correction, HYPE has returned to record levels. The most recent daily candle reached roughly $91.91, and HYPE is currently trading at $90.94.
HYPE/USDT Chart by TradingViewThe reason for the recovery's strength lies in what came before it. Before momentum stalled, HYPE first rose from about $58 in mid-August to the $87–$89 range. The token was later pushed back toward $76 by sellers, but this correction did not result in a wider reversal.
After buyers defended the region, HYPE produced two strong green candles that moved straight through $80 and $85. Around $92 is the current technical battle. The psychological $100 level would become more significant if there were a sustained breakout above the current high, leaving HYPE with little obvious historical resistance.
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After such quick expansion, there is still a significant risk of downside. Bulls must defend the $85–$87 region first, then roughly $78–$80. Much of the most recent breakout would be negated if the latter were lost.
For the time being, HYPE's structure — higher highs, higher lows, and an aggressive recovery from each major correction — remains remarkably robust. The extent to which the price has increased is the primary cause for concern.
Bitcoin makes a comebackAfter momentarily declining toward $75,000 earlier this week, Bitcoin has made another significant comeback, rising above $80,000. The broader structure of BTC remains uncertain.
BTC/USDT Chart by TradingViewAfter an explosive breakout from roughly $63,000 to $78,000 in August, Bitcoin spent several weeks consolidating between roughly $75,000 and $82,000. Neither buyers nor sellers have been able to establish control outside of that range, despite multiple attempts. The most recent candle significantly improves the short-term picture.
While RSI is rising from around neutral territory, Bitcoin has recovered from roughly $76,200 to $80,300. Bulls are now once again approaching the crucial $81,000–$82,000 resistance range.
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Breaking that ceiling would expose roughly $83,000–$84,000 and mark the first significant expansion beyond the post-August consolidation. If it fails, Bitcoin would remain confined to the current range.
The much more significant $75,000–$76,000 zone comes after the initial support, which is located around $78,000. That area is the defining short-term support due to numerous reactions.
As a result, Bitcoin appears promising once more, but unlike HYPE, it has not really taken off yet. Whether the current rebound turns into a continuation move or just another oscillation within the month-long range should be determined by the next test of $81,000–$82,000.
Major cryptocurrencies are showing renewed volatility after a series of sharp breakouts, with Uniswap (UNI), Near Protocol (NEAR), Hyperliquid (HYPE), and Bitcoin (BTC) each encountering potential turning points. Recent price movements have brought all four assets to key resistance levels, raising questions about the sustainability of their rallies.
UNI surges but faces possible correctionUniswap, a leading decentralized exchange protocol and governance token, has demonstrated impressive strength after briefly reaching $9.44. The token is now trading near $8.69, maintaining much of its momentum from a breakout that started around $3.20 in mid-August. This rally has almost tripled UNI’s value from its local bottom.
The latest advance was significant as UNI overcame the $7.20–$7.50 region after being rejected from that range earlier in September. Following the rejection, UNI corrected to $5.90 but sellers failed to push the token to a new low. Instead, the price consolidated between $6.00 and $6.70 before surging higher.
However, the upper wick near $9.44 suggests intense selling pressure above $9.00, increasing the likelihood of a short-term pullback. Maintaining price action above $7.80–$8.00 is seen as critical for bulls, with $7.20–$7.50 serving as a secondary support band. On renewed buying, targets re-emerge at $9.00 and $9.44, while $10 stands out as an important psychological threshold. Risk is now greater for those chasing new highs versus those who entered at breakout levels.
The nearly vertical move toward $9.44 exposes UNI to the possibility of a short-term correction, especially if sellers continue to dominate above $9.00.
Near Protocol extends rally, enters price discoveryNear Protocol, an open-source, sharded, and developer-friendly layer-1 blockchain, has seen its price surge to around $3.62, with today’s candle marking $3.78. The project’s breakout above the $2.80–$3.00 resistance zone has pushed NEAR into levels not seen throughout its recent trading range.
After spending most of June and August below $2.20, NEAR consolidated between $2.30 and $2.50. Buyers then fueled high-volume breakouts through $2.60 and $3.00. The current advance from $2.35 to $3.62 has been especially rapid, helped by a marked increase in trading volumes not present earlier in the summer.
This rapid upswing has left NEAR technically stretched and more susceptible to profit-taking at immediate resistance between $3.75 and $3.80. Support sits initially at $3.10–$3.20, with primary breakout support deeper down at $2.80–$3.00. Continued volatility is expected following this fast expansion.
Mini dictionary: Near Protocol — A layer-1 blockchain designed for scalability and ease of use, known for its sharded architecture that allows for parallel processing and increased transaction throughput.
Hyperliquid sets new records, eyes psychological levelHyperliquid, a decentralized derivatives trading protocol, has returned to record highs after buyers rapidly erased the impact of a mid-September correction. The native HYPE token reached $91.91 in the latest daily candle and is currently trading at $90.94, resuming the strong uptrend seen in previous weeks.
In August, HYPE surged from $58 to the $87–$89 region before briefly retreating to $76. Strong buying interest then propelled the token decisively through $80 and $85. The next significant technical zone lies around $92, with $100 representing a major psychological milestone if momentum persists.
Despite the robust uptrend, the steep rise increases the risk of a reversal. For bulls to retain control, the key support zone rests between $85–$87, followed by $78–$80. A loss of these levels could undermine the token’s advance. The aggressive series of higher highs and quick recoveries from corrections remains notable, but the unrelenting pace is a concern.
Bitcoin rebounds, but range breakout remains elusiveBitcoin recently rebounded above $80,000 after dipping as low as $75,000 earlier this week. Since the explosive move from $63,000 to $78,000 in August, BTC has oscillated between $75,000 and $82,000 without breaking the range meaningfully in either direction.
With the latest upward push from $76,200 to $80,300, bullish sentiment is building again as traders eye the $81,000–$82,000 resistance. If Bitcoin can decisively clear this level, it would open the door to $83,000–$84,000 and signal a potential expansion beyond the recent consolidation.
Support remains layered, with initial defenses at $78,000 and the more critical $75,000–$76,000 zone. These levels have attracted strong reactions and currently define the short-term structure. Traders continue to watch for a breakout, which would determine whether Bitcoin’s revival is sustainable or simply another fluctuation within its established range.
Whether Bitcoin’s rebound transforms into a breakout or remains part of the ongoing range will be determined by its ability to clear $81,000–$82,000 resistance.
Hyperliquid, a trading-focused Layer 1 blockchain, has surpassed Arbitrum in total value locked (TVL) at the chain level, with both networks registering $1.39 billion, according to DeFiLlama data. Hyperliquid advanced from the eighth to seventh position among chains in just 24 hours, as capital rotation continues among decentralized finance networks.
Shift in DeFi capital and rankingsRecent data highlighted by analytics platform MSBIntel shows that while Hyperliquid’s L1 TVL held steady at $1.39 billion, Arbitrum’s numbers slipped, allowing Hyperliquid to edge ahead by a small margin. Total protocol-level TVL for Hyperliquid climbed to $6.76 billion, reflecting an increase of 8.2% over the last month.
This development signals ongoing restructuring in the decentralized finance sector. Several high-performance Layer 1 blockchains built specifically for trading applications are now attracting liquidity previously held by established Layer 2 solutions. Arbitrum, once the leading Ethereum Layer 2 network with over $3.2 billion in TVL in February 2024, has experienced a decline driven by reduced incentive programs and outgoing users.
Recent TVL movement illustrates a broader DeFi trend: “High performance trading protocols such as Hyperliquid are rapidly gaining liquidity, overtaking traditional Layer 2s in capital allocation.”
In contrast, Hyperliquid’s growth has been supported by launching its own Layer 1 chain tightly integrated with its perpetuals exchange, as well as consistently attracting traders and collateral deposits.
Technical features and network architectureHyperliquid’s network utilizes native order books with sub-second finality and a consensus layer designed for derivatives. TVL inflows are derived from perpetual vault collateral, spot markets, and tokens built on its proprietary HIP-1 and HIP-2 standards. Open interest within the protocol is collateralized with HYPE, Hyperliquid’s native token, and traders actively deposit USDC to participate in trading, rather than engaging solely for incentive farming.
The protocol distinguishes itself with its “fee-driven” model, using trading fees to buy back and burn HYPE tokens, contributing to value accrual. Peak burn activity has seen up to 32,770 HYPE tokens burned in a single day, typically coinciding with TVL highs of nearly $7 billion.
Mini dictionary: HIP-1 and HIP-2 are Hyperliquid’s technical standards for token issuance and interaction, tailored for its derivatives trading platform to optimize speed and liquidity management.
Unlike modular rollups such as Arbitrum and Optimism, which extend Ethereum’s functionality for a wide range of decentralized applications, Hyperliquid’s vertically integrated chain is constructed for a single, specialized app. This results in low latency, unified margin, and trading fees that accrue directly to the Layer 1 network.
Competition and market risksHyperliquid now ranks among the five highest fee-generating protocols, alongside large networks including Ethereum, Solana, and Tron. The competitive pressure on both centralized exchanges and Layer 2s is intensifying as on-chain settlement of perpetual derivatives increases, eroding CEX dominance and motivating rivals to review their technology stacks.
The sector’s direction points toward improved trading infrastructure, illustrated by Solana, Sei, and Hyperliquid capturing increased on-chain perpetual trading volume. This trend has been fueled by more reliable oracles, better user experience in crypto wallets, and deeper stablecoin reserves from issuers such as Circle and Tether.
ChainCurrent TVL30-Day TVL ChangePeak TVL (2024)Hyperliquid$1.39B (chain) / $6.76B (protocol)+8.2%~$7BArbitrum$1.39B (chain)Declining$3.2B (February 2024)Despite its gains, Hyperliquid faces notable risks. Its TVL is heavily concentrated in perpetual trading, making the protocol sensitive to funding rate changes and sudden market volatility. Regulatory uncertainty around on-chain derivatives in key jurisdictions such as the US and Europe also persists.
Arbitrum continues to offer a more diverse set of DeFi assets and has scheduled upgrades—including integrations for Aave, Uniswap, and Stylus—to strengthen its competitive position. Hyperliquid’s ability to maintain its lead will depend on future developments such as the rollout of HIP-3 for permissionless perpetuals trading, institutional custody services, and the stability of its fee-based burn mechanism amid evolving market conditions.
According to HTX market data, HYPE has surged past $94, hitting a new all-time high of $94.43, with a 24-hour gain of 9.1% and a market cap of $20.996 billion. Below is a roundup of recent positive developments for Hyperliquid: · Payward, parent company of Kraken, announced plans to offer on-chain perpetual contracts based on Hyperliquid to U.S. clients. Bitnomial, a CFTC-regulated exchange and clearinghouse under Payward, acts as the HIP-3 deployer, responsible for creating, owning, managing markets, and clearing trades. NinjaTrader Clearing, a registered Futures Commission Merchant (FCM), will hold client accounts. · The U.S. SEC announced its "Innovation Exemption," granting conditional five-year exemptions to certain tokenized stock trading platforms, a boost for Hyperliquid’s expansion in the tokenized equity and real-world asset (RWA) space. · The HIP-3 market accounted for nearly 50% of the platform’s perpetual trading volume in summer 2026, up from around 2% at the start of the year. TradeXYZ’s stock market (including Nasdaq 100 and individual equities) remains dominant. Over the same period, total RWA perpetual trading volume across the market rose from ~$85 billion per month in January to ~$470 billion per month in June. · Hyperliquid’s perpetual contract trading volume over the past 30 days reached ~$240 billion, leading public chains/ecosystems (second-place Arbitrum recorded ~$47.2 billion, while Solana saw ~$46 billion). It holds a ~36% share of the Perp DEX market over the same period, with cumulative perpetual trading volume exceeding $5.3 trillion. · Hyperliquid recently launched the Manual Borrows feature, allowing users to borrow USDC or USDT using HYPE or BTC as collateral.
Key Highlights Hyperliquid Strategies (PURR) shares climbed approximately 8% following the SEC’s release of its “Innovation Exemption” framework enabling tokenized U.S. equity trading on public blockchain networks The regulatory relief permits Tokenized Securities Venues to facilitate tokenized stock transactions via automated market makers for a five-year duration Tokenized equities are required to maintain identical shareholder privileges as conventional shares, encompassing dividend distributions and voting capabilities Smart contract code must be publicly accessible, auditable, and launched on permissionless blockchain platforms Wall Street analysts maintain a Buy rating consensus on PURR with a mean price objective of $19.80 Hyperliquid Strategies (PURR) was exchanging hands up approximately 8% at $13.82 during premarket activity Friday, continuing momentum from a comparable advance Thursday following the SEC’s Innovation Exemption announcement.
Hyperliquid Strategies Inc Common Stock, PURR
The Securities and Exchange Commission revealed Thursday it is providing temporary regulatory relief to Tokenized Securities Venues, enabling them to facilitate tokenized U.S. equity trading on public blockchain infrastructure through automated market makers. The relief framework extends to liquidity providers participating in these pools under securities-law dealer classifications.
SEC Chairman Paul Atkins characterized the initiative as an effort to transition U.S. capital markets “into the digital age.” He positioned it as a strategic response following the CLARITY Act’s failure to progress through the Senate earlier in the week.
The exemption period spans five years and includes rigorous compliance requirements.
TSVs must confirm that tokenized securities maintain equivalent rights as traditional equity instruments, including dividend entitlements and voting privileges. Smart contract infrastructure must be transparent, auditable, and established on permissionless blockchain networks. Corporate issuers retain the authority to oppose and prevent their securities from trading on any TSV platform.
Trading suspensions on the principal exchange automatically extend to the tokenized equivalent. TSVs must maintain U.S. person status and adhere to OFAC sanctions compliance standards.
Bernstein research analysts had forecasted the SEC and CFTC would pursue “aggressive and swift” regulatory action following the CLARITY Act’s collapse. Thursday’s exemption represents the initial tangible evidence of this prediction materializing.
Market Interpretation of PURR’s Position PURR is being interpreted by market participants as a primary beneficiary. The SEC directive mandates trading on public permissionless blockchain infrastructure with auditable smart contract systems, which aligns substantially with Hyperliquid’s decentralized exchange architecture.
The firm’s investment approach focuses on accumulating HYPE, Hyperliquid’s native digital asset, and leveraging staking mechanisms and yield optimization strategies to enhance returns. Regulatory developments supporting on-chain financial infrastructure typically boost investor sentiment for companies operating in this sector.
PURR is currently trading approximately 18.6% above its 20-day simple moving average and 57.2% above its 50-day simple moving average. This stretched technical positioning indicates potential for abrupt corrections if purchasing momentum weakens.
The critical technical threshold to monitor is $14.00. A decisive breakthrough above this level would reestablish the $14.14 52-week peak as an achievable target. Rejection at that resistance could trigger a retreat toward shorter-term moving averages. The MACD indicator currently sits below its signal line, indicating upward momentum has moderated somewhat.
Wall Street Price Targets and Fund Holdings Nine Wall Street analysts provide coverage on PURR with a unanimous Buy rating consensus and a mean price objective of $19.80. Cantor Fitzgerald elevated its target to $34.20 on September 10. Compass Point launched coverage with a Buy recommendation and $18.00 target on September 15. Chardan Capital increased its target to $17.00 on August 28.
PURR represents 100% of holdings in both the Bitwise Hyperliquid ETF (BHYP) and the Grayscale Hyperliquid Staking ETF (HYPG). This concentrated allocation means fund flows directly translate into buying and selling activity in the underlying stock.
The upcoming earnings announcement is projected for November 12, 2026. Analysts anticipate earnings per share of 12 cents and revenue of $9.78 million, with the stock currently trading at a price-to-earnings multiple of 4.0x.
HYPE, the native token of the Hyperliquid layer-1 blockchain and decentralized trading platform, reached a new all-time high above $90 on Friday following the rollout of manual borrowing on the network.
Manual borrowing unlocked on HyperliquidHyperliquid announced that users now have the ability to supply HYPE and Bitcoin as collateral to borrow stablecoins USDC and Tether’s USDt (USDT). This update allows users to access borrowed funds directly, expanding options beyond the platform’s existing portfolio margin system.
“Manual borrows are live on Hyperliquid,” the team stated in a recent update. The protocol clarified that both the new borrowing feature and its portfolio-margin system utilize HyperCore, the underlying infrastructure powering these functionalities.
Hyperliquid’s design ensures that every borrowed asset comes directly from a supplier, rather than being artificially created through platform-level margin procedures, according to co-founder Jeff Yan.
Users are now able to borrow USDC or USDT directly against HYPE or Bitcoin, making the borrowing process more flexible for participants in the Hyperliquid ecosystem.
Mini dictionary: Hyperliquid is a decentralized derivatives trading platform built on its own layer-1 blockchain. It offers on-chain perpetual markets and advanced margin systems for trading various digital assets.
Shortly after the announcement, HYPE surged as high as $90.92, reflecting strong demand and positive user sentiment toward the new borrowing functionality.
FeatureBefore updateAfter updateCollateral optionsPortfolio margin system onlyManual borrow with HYPE/BTC collateralStablecoins available to borrowLimitedUSDC, USDTMaximum HYPE priceBelow $90$90.92 (new all-time high)Strong activity and asset growthHyperliquid reported $269 million in assets borrowed across its infrastructure on Friday. The expansion of borrowing options is expected to attract more users to the platform and increase overall activity.
The protocol’s recent developments indicate growing momentum as crypto markets recover and decentralized trading gains traction among investors looking for transparent and user-driven alternatives.
With increased borrowing flexibility, Hyperliquid provides more options for market participants seeking to leverage their digital assets within its decentralized environment.
Kraken’s parent enters Hyperliquid ecosystemThe launch of manual borrowing follows closely behind a development from Payward, the parent company of crypto exchange Kraken. On Wednesday, Payward announced plans to introduce on-chain perpetual futures markets for US clients, beginning with Hyperliquid’s HIP-3 markets.
These back-to-back announcements place Hyperliquid in the spotlight as it seeks to compete with established platforms in decentralized derivatives trading.
Trump: Whether to "destroy" Iran remains to be seen.
According to NewsNation, US President Donald Trump stated that Iran is seeking to reach an agreement with the United States, while he is currently weighing whether to take further military action against Tehran. When asked about his earlier comments suggesting he was considering "destroying" Iran, Trump replied, "We’ll wait and see." Asked what actions he expects Iran to take before making a decision, Trump noted Tehran is pursuing a deal. "Right now, they want an agreement," he said. He added that he believes Iran is "losing on all fronts" both economically and militarily. "If this isn’t the right deal, I won’t even consider it. But right now, they want an agreement because they’re losing on all fronts."
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Alex Thorn, head of research at Galaxy, noted in a post that Bitcoin (BTC) is currently trading strongly, with its price above the 50-week moving average. Historically, a breakout above the 50-week moving average has served as a key level confirming the formation of a bear market bottom. If the weekly line closes above the 50-week moving average this Sunday, this trend will be further confirmed.
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According to NewsNation, US President Trump said the United States is in negotiations with the Houthi movement, which also hopes to reach an agreement.
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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.
The native token of decentralized exchange Hyperliquid (HYPE) has set a new all-time high and officially entered the top 10 largest cryptocurrencies in the world, according to CoinMarketCap.
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Following a powerful technical breakout, the asset reached $89.92, narrowing the distance to the psychological $100 threshold to just 11%.
HOT Stories
How the setup promising a three-digit price for Hyperliquid token worksWhile the rest of the crypto market is searching for new triggers to move, HYPE is delivering a clean upward impulse. Well-known technical analyst Aksel Kibar of Tech Charts said that a classic bullish scenario has played out on the daily chart.
"Breakout, pullback, and continuation pattern on the HYPEUSDT daily chart for Hyperliquid token against Tether," Kibar described the current setup, pointing to the completion of local consolidation and confirmation of trend strength.
HYPEUSDT daily chart showing a breakout and price target at $100.5, Source: Aksel Kibar / Tech ChartsAfter updating its all-time high around $89.69, the new top-10 cryptocurrency entered price discovery, a market zone where there is effectively no overhead resistance from sellers.
According to Kibar, the chart pattern that has formed opens a direct path for the token toward a calculated medium-term target of $100.5. The main defensive level for buyers now stands at $76.6, which previously acted as strong resistance.
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The rally is backed by real liquidity, with daily trading volume in the token exceeding $1.58 billion. With a market capitalization of $22.61 billion, Hyperliquid officially took the 10th spot in the global rankings, pushing Dogecoin down and moving close to Zcash.
The long-term demand driver remains the blockchain's deflationary model, under which nearly 99% of all DEX trading fees are automatically directed to the open market for the buyback and subsequent burning of HYPE.
The current chart structure shows that the trend remains fully controlled by buyers, while a push toward the three-digit mark projected by Tech Charts remains a matter of the next few trading sessions for the new top-10 token.
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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Hyperliquid [HYPE] rose more than 11% to $87.95 after recording three consecutive days of gains. The recovery began after HYPE rebounded from its 50-day EMA near $74.94.
The token also climbed above its key EMAs and approached its previous all-time high near $89.70.
Meanwhile, whale positioning and rising network activity strengthened the bullish setup. Trader “watershedpath” held a $119.66 million HYPE long using 5x leverage.
With HYPE less than 2% below its previous peak, could this momentum finally push the token into price discovery?
Source: TradingView Can whale positioning push HYPE higher? The whale’s $119.66 million position showed substantial exposure as HYPE approached its previous all-time high.
Its average entry price stood at $38.68, leaving the position deeply profitable at current prices. That distance signaled continued conviction, although it also introduced a possible profit-taking risk.
The 5x leverage could amplify the position’s returns, but any sharp reversal would increase its liquidation pressure. Therefore, the position strengthened HYPE’s bullish narrative without removing the risks surrounding a crowded rally.
Source: Santiment Is network activity backing HYPE? Hyperliquid’s Token Volume climbed to $1.44 billion over the previous 24 hours. Meanwhile, Revenue increased to $1.75 million as activity across the protocol expanded.
Open Interest also reached $7.29 billion, showing that derivatives positioning remained elevated near HYPE’s previous peak.
Source: DeFiLlama Together, rising Token Volume, Revenue and Open Interest supported HYPE’s price momentum.
However, elevated Open Interest also meant leverage could amplify any rejection from $89.70. A confirmed break above that level could push HYPE into price discovery.
By contrast, rejection could return attention toward the 20-day EMA at $80.84. The 50-day EMA near $74.94 would provide the next major support if selling deepened.
Final Summary HYPE price rose over 11% to $87.95 after three consecutive daily gains. HYPE remained less than 2% below its previous all-time high near $89.70. Hyperliquid Token Volume reached $1.44 billion as Revenue climbed to $1.75 million.
The cryptocurrency market’s total valuation reached $2.76 trillion today as leading tokens maintained their upward momentum. This rally persisted despite recent interest rate increases by the Federal Reserve and the Bank of Japan, alongside continued high crude oil prices. Key assets such as NEAR Protocol, Venice Token (VVV), and Hyperliquid (HYPE) are in the spotlight due to significant price action and technical developments.
NEAR Protocol outperforms major cryptocurrenciesNEAR Protocol, which operates a layer-1 blockchain featuring privacy-focused trading and an AI agent marketplace, has outpaced larger names including Bitcoin, Ethereum, and XRP in recent months. The token’s price recently rose to $3.78, sharply higher than its year-to-date low of $0.85.
This performance places NEAR Protocol among the top gainers within the digital asset sector for the year. The token recently breached the key resistance at $3.08, marking the upper boundary of a cup-and-handle pattern. Technical analysts generally regard this pattern as a signal for potential continued upward movement.
NEAR has also moved above all major moving averages and the Supertrend indicator. The Average Directional Index (ADX) points to strengthening momentum. However, with its Relative Strength Index now at 85, the token is considered heavily overbought. This raises the possibility of a retreat to the $3.08 support before any renewed rally, consistent with a break-and-retest formation.
NEAR has broken above strong technical resistance, yet appears overbought with an RSI of 85, signaling near-term caution even as longer-term momentum stays positive.
Venice Token nears all-time high, targets $35Venice Token is issued by Venice AI, a platform that enables users to access a variety of AI models from providers such as Anthropic, OpenAI, and Grok. The project uses a portion of fiat transaction fees to buy back and permanently remove VVV tokens from circulation, burning $702,000 in tokens last month and $673,000 to date this month.
VVV’s price currently stands at $27.25, just below its all-time high of $29.30. The token continues to trade above key resistance at $21.48 after completing a break-and-retest pattern and remains above all significant moving averages. Analysts set the next major target at $35, with current technicals supporting further gains.
Mini dictionary: Token burning, the permanent removal of tokens from circulation, is typically used to reduce supply and potentially increase asset value.
Venice Token is holding firm near its record high, with buy-and-burn mechanisms contributing to its performance and providing upward price pressure.
Hyperliquid gains momentum after regulatory and political signalsHyperliquid, which operates a high-volume decentralized perpetual trading platform, experienced an upswing after US President Donald Trump indicated support for its entry into the American market. The Securities and Exchange Commission’s recent statements backing the tokenization of stocks in the US have also fueled bullish sentiment around the project.
Hyperliquid’s trading volume surpassed $240 billion over the past 30 days, considerably outpacing competitors such as Aster and Lighter.
The HYPE token recently retreated to $76, aligning with its highest level on June 16, before exceeding the critical resistance level of $89.38. With this break-and-retest pattern confirmed, technical analysts see an upward path with a next potential price target set at $100.
Mini dictionary: Perpetual DEX platforms allow online trading of derivatives with no expiration date, offering continuous opportunities for leveraged positions.
Near Protocol (NEAR), gizlilik odaklı sürekli vadeli işlem altyapısını kullanıma sunmasının ardından kripto para piyasasının dikkat çeken varlıklarından biri oldu. Hyperliquid’in likidite ve işlem altyapısıyla desteklenen yeni model, kullanıcıların pozisyonlarına ilişkin önemli verileri zincir üzerinde gizlemeyi hedefliyor. Gelişmenin ardından NEAR fiyatı gün içerisinde yüzde 21’in üzerinde yükselerek 3,20 dolar bölgesine ulaşırken, Hyperliquid’in HYPE tokenında da çift haneli yükseliş görüldü. Yeni sistem özellikle büyük yatırımcıların işlem stratejilerinin korunması açısından dikkat çekiyor.
Near Protocol Gizli Vadeli İşlem Modelini Başlattı Near Protocol, near.com üzerinden “Private by Default” yaklaşımına dayanan gizlilik odaklı sürekli vadeli işlem modelini kullanıma sundu. Yeni sistemde yatırımcıların pozisyon büyüklüğü, varlık türü, giriş zamanı ve işlem yönü gibi kritik bilgilerin gizli tutulması amaçlanıyor. Blockchain ağlarının şeffaf yapısı kullanıcıların işlemleri doğrulamasını sağlarken, özellikle büyük yatırımcılar ve kurumsal piyasa katılımcıları açısından bazı dezavantajlar yaratabiliyor. Açık pozisyonların izlenebilmesi, işlem stratejilerinin takip edilmesi veya tasfiye seviyelerinin diğer piyasa katılımcıları tarafından görülmesi risk oluşturabiliyor. Near’ın yeni altyapısı, merkezi borsalarda görülen işlem gizliliğini merkeziyetsiz ve kullanıcıların varlıklarının kontrolünü elinde tuttuğu bir yapıyla birleştirmeyi hedefliyor.
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Near’ın gizlilik odaklı vadeli işlemleri, çok zincirli Confidential Intents altyapısı üzerinden gerçekleştiriliyor. Sistem yüksek hızlı işlem yürütmenin yanı sıra gerekli durumlarda seçici veri açıklamasına imkan sağlayacak şekilde tasarlanıyor. Hyperliquid ise yeni modelde önemli işlem ve likidite katmanlarından biri olarak öne çıkıyor. Entegrasyon sayesinde kullanıcıların 50’den fazla sürekli vadeli işlem piyasasına erişebilmesi hedefleniyor.
“Yeni model, yatırımcıların işlem stratejilerini zincir üzerinde herkese açıklamak zorunda kalmadan merkeziyetsiz piyasalara erişmesini sağlamayı amaçlıyor.”
Near ekosistemindeki USDC entegrasyonu da stablecoin tabanlı ödemeler ve yapay zeka ajanları arasındaki işlemler açısından altyapının kullanım alanını genişleten unsurlardan biri olarak öne çıkıyor.
Gizlilik Odaklı DeFi Neden Önem Kazanıyor? Near Protocol’ün hamlesi, blockchain sektöründe gizlilik ile şeffaflık arasındaki dengeye yönelik tartışmaların arttığı bir dönemde geldi. Herkese açık işlem verileri özellikle büyük pozisyonlarda strateji kopyalama, önden işlem gerçekleştirme ve tasfiye seviyelerinin takip edilmesi gibi riskleri beraberinde getirebiliyor. Near’ın geliştirdiği sistem bu verilerin görünürlüğünü azaltarak yatırımcıların işlem stratejileri üzerindeki kontrolünü güçlendirmeyi amaçlıyor. Bununla birlikte gizlilik teknolojilerinin düzenleyici gerekliliklerle nasıl uyumlu hale getirileceği sektör açısından önemli bir konu olmaya devam ediyor. Yeni gizlilik odaklı sürekli vadeli işlem hizmetinin düzenleyici nedenlerle ABD ve Kanada’daki kullanıcılara yönelik kısıtlamalara sahip olması da bu konunun önemini ortaya koyuyor.
Yeni ürünün duyurulmasının ardından NEAR fiyatında güçlü bir hareket görüldü. NEAR gün içerisinde yüzde 21,36 yükselerek yaklaşık 3,21 dolar seviyesine ulaştı. Yapay zeka bağlantılı kripto varlıklara yönelik artan ilginin de fiyat hareketine katkıda bulunduğu değerlendiriliyor. Teknik görünümde 3 dolar seviyesi önemli eşiklerden biri olarak takip ediliyor. NEAR fiyatının bu bölgenin üzerinde kalması durumunda 3,33 dolar seviyesi yeniden gündeme gelebilir. Buna karşılık 2,80 doların altına yaşanabilecek bir geri çekilmede 2,57 dolar civarındaki Fibonacci desteği izlenebilir. Hyperliquid’in HYPE tokenı da yüzde 10,82 yükselişle yaklaşık 86,72 dolara ulaştı. HYPE tarafındaki hareketlilikte Hyperliquid’in ABD pazarındaki erişiminin genişlemesine yönelik gelişmeler de piyasanın takip ettiği başlıklar arasında bulunuyor.
Değerlendirme Near Protocol’ün Hyperliquid altyapısıyla desteklenen gizlilik odaklı sürekli vadeli işlem modelini kullanıma sunması, NEAR fiyatındaki güçlü yükselişle birlikte dikkat çekti. İşlem stratejilerinin, pozisyon büyüklüklerinin ve diğer hassas ticaret verilerinin gizlenmesini hedefleyen sistem, merkeziyetsiz finans alanındaki gizlilik çözümlerine yönelik ilgiyi artırabilir. NEAR açısından 3 doların korunması ve 3,33 dolar bölgesindeki fiyat tepkisi kısa vadede takip edilirken, 2,80 doların kaybedilmesi durumunda aşağı yönlü risklerin yeniden güçlenmesi mümkün olabilir.
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HYPE has risen 10.5% to $91.20 after Hyperliquid introduced manual USDC and USDT borrowing against HYPE and Bitcoin collateral, with the token setting a new all-time high of $92.56.
Summary
HYPE price gained 10.5% in 24 hours and reached a record $92.56 on Sep. 18. Hyperliquid users can borrow USDC and USDT against supplied HYPE or Bitcoin. HYPE carries a 65% loan-to-value ratio, compared with 50% for Bitcoin. Payward plans to offer regulated Hyperliquid perpetuals to eligible U.S. clients. Hyperliquid loans accept HYPE and Bitcoin collateral Hyperliquid’s official documentation states that manual borrowing went live on Sep. 18, allowing users to borrow USDC and USDT after supplying HYPE or Bitcoin as collateral. The new service runs through HyperCore, the same infrastructure that supports the platform’s portfolio margin system.
“Manual borrowing is supported for Manual/Standard and Unified Account users,” the platform said.
Portfolio margin accounts already handle borrowing automatically, so the separate manual action is unavailable to those users. Manual and unified account holders can instead choose the amount they want to borrow, subject to available liquidity and account-level and global limits.
HYPE collateral has a loan-to-value ratio of 65%, meaning $1,000 worth of HYPE provides up to $650 in borrowing capacity at the applicable oracle price. Bitcoin has a lower LTV of 50%, giving the same collateral value up to $500 in capacity.
When a user supplies both assets, Hyperliquid adds their respective borrowing contributions together. Supplied HYPE and Bitcoin do not earn interest, while supplied USDC and USDT earn interest but do not increase the account’s borrowing capacity.
Borrowed stablecoins accrue interest continuously, with the balance indexed every hour. According to the documentation, rates depend on how much available liquidity borrowers are using. Suppliers receive a lower annual percentage yield than borrowers pay because the interest is divided among a larger pool of supplied assets.
Hyperliquid also retains 10% of the interest paid by borrowers as a reserve for future liquidations. Data cited following the rollout placed total borrowed assets at about $269 million, showing early use of the lending feature.
Liquidation rules depend on collateral value Hyperliquid uses a health factor to compare a user’s LTV-adjusted collateral with outstanding debt. An account cannot take another loan once its health factor reaches 100% or lower, although crossing that level does not automatically trigger liquidation.
Partial liquidation begins when borrowed value moves above the collateral value after applying the designated liquidation threshold. HYPE has an 82.5% partial liquidation threshold, while Bitcoin has a threshold of 75%.
Falling collateral prices can therefore increase liquidation risk even when the user does not borrow more. Interest charges, collateral withdrawals, and additional borrowing can also move an account closer to the threshold, according to the platform.
In an example provided in its documentation, Hyperliquid used 100 HYPE worth $40 each and a 2,000 USDC loan. The collateral would provide $2,600 in borrowing capacity at a 65% LTV, leaving another 600 USDC available to borrow.
For the same position, the account would reach the 82.5% partial liquidation threshold if the HYPE oracle price fell to about $24.24, excluding further interest. Hyperliquid noted that displayed liquidation prices can change as asset prices, balances, and accumulated interest move.
Multiple forms of collateral make the calculation more complex because the system includes the contribution from every supplied asset. A displayed liquidation price of “N/A” does not necessarily mean a position carries no risk, as the label can appear when another asset covers the debt or when the calculated price sits above the current oracle price.
HYPE price breaks above its previous record CoinGecko data showed HYPE trading at $91.20 at the time of writing, up 10.5% over 24 hours. The token moved between $81.70 and $92.56 during the period, with the upper end setting its latest all-time high on Sep. 18.
Trading volume reached approximately $1.72 billion over 24 hours, while HYPE’s market capitalization stood near $20.3 billion. The token was also up 57.1% over 30 days, according to the same market snapshot.
The advance pushed HYPE above the $89.57 record set on Sep. 6. In an earlier technical report, crypto.news covered HYPE’s consolidation between roughly $84 and $88 after the previous high, when selling repeatedly appeared above $87.
HYPE later fell toward $78.70 as weaker momentum and legal concerns weighed on the market, before reversing above $90 following the manual borrowing rollout. The move also cleared the former $87–$90 liquidity area identified in the earlier report.
Bitcoin rose alongside HYPE, trading near $80,981 after gaining about 5.6% over the latest session. BTC moved between approximately $76,205 and $80,998 during the period, placing it close to its intraday high when the market data was recorded.
U.S. access remains tied to regulated partners Hyperliquid’s growing product range has arrived while companies connected to the platform pursue a regulated route into the United States. The Hyperliquid Policy Center has also challenged CME’s lawsuit against the Commodity Futures Trading Commission over the agency’s approval of a Kalshi Bitcoin perpetual contract.
In its Sep. 9 filing, the policy group argued that CME had not shown a competitive injury caused by the CFTC’s decision. The group also said CME’s commercial interests did not fall within the protections of the Commodity Exchange Act provisions cited in the lawsuit.
A separate U.S. proposal involves Payward, the parent company of Kraken. On Sep. 16, Payward announced regulated Hyperliquid markets for eligible American clients through Bitnomial, subject to regulatory approval.
Under the proposed structure, Bitnomial Exchange would deploy and administer selected perpetual futures markets through Hyperliquid’s HIP-3 system. Bitnomial Clearinghouse would handle clearing and settlement, while NinjaTrader Clearing would carry approved customer accounts.
U.S. customers would need to complete onboarding with NinjaTrader Clearing and receive approval for the relevant Bitnomial market. Their associated addresses would also need to appear on the permissioned HIP-3 allowlist, rather than receiving access to every market available through Hyperliquid.
Payward said Hyperliquid would be the first blockchain protocol used for the planned service. The company has not announced a launch date, and CFTC records do not yet establish final approval for the proposed HIP-3 arrangement.
