The Hyperliquid (HYPE) token trades at around $55, up roughly +5% in 24 hours, a bounce that still leaves it well off the highs that once made it one of crypto’s standout performers. The uncomfortable truth is that the rally was never built on earnings power, and the market is now seemingly pricing that in.
HYPE’s price surge was engineered by concentrated treasury buying, not by accelerating DeFi revenue or expanding protocol fundamentals, and once that bid stopped, unwinding was inevitable.
This drawback has left investors wondering whether HYPE really is the future of decentralized finance or if it will become the latest casualty in this brutal bear market, which has seen many utility-backed projects fall more than 90% from their all-time highs.
Hyperliquid is about to unlock a whole new wave of American hedge funds.
Lazersays explains how Perp platforms have mostly been fighting over the same crypto-native whales.
And how Hyperliquid is bringing regulated perpetuals onshore to the US—especially with the rise of Real… https://t.co/8ch0QQS23l pic.twitter.com/RVWskdi3lh
— 👽 (@AlienW3b) August 4, 2026
How the Hyperliquid Treasury Bid Drove the Rally Shaunda Devens, an analyst at Blockworks Research, identified Hyperliquid Strategies (PURR) as the main driver behind a significant increase in HYPE token prices.
PURR accumulated 11.12 million HYPE tokens, exceeding $100 million weekly, and holding nearly 10% of HYPE’s circulating supply, making it the largest digital-asset treasury position in crypto by percentage of float.
Devens highlighted that the rally was influenced by PURR’s buying campaign and the AQAv2 upgrade, which directs stablecoin reserve-yield revenue to fund HYPE buybacks.
This created artificial scarcity and price momentum, decoupling HYPE’s price from its underlying business performance. As the accumulation was not fundamentally driven, she cautioned that traders would likely take profits once buying slowed.
(SOURCE: Yahoo Finance)
The Revenue Gap the Price Is Now Reflecting The fundamental picture backing that skepticism is direct: Hyperliquid’s July 2026 revenue came in at $43M, compared to $92 million in July 2025, a year-over-year decline of more than 50%, according to Devens’ analysis. For a token whose valuation was partly premised on dominant market share in on-chain perpetuals trading, that revenue halving is a material reset.
The core business remains heavily tied to crypto market activity. When volumes compress across the broader derivatives landscape, Hyperliquid’s fee generation compresses with it, and the protocol’s DeFi revenue trajectory becomes the primary justification for where HYPE trades. At $52, Devens argued, valuation has returned to a more realistic level, though she stopped short of calling it a definitive floor.
Spot exchange flow data from CoinGlass shows approximately $22.34M in net HYPE outflows from exchanges over the past 30 days. Coins leaving exchanges typically indicate holders moving assets to self-custody rather than preparing to sell – a pattern consistent with accumulation. The signal is narrow, however, and falls short of the sustained outflow magnitude needed to confirm a price floor is forming.
What Comes Next for HYPE Price My plan for $HYPE in long-term
You can call me crazy if you want but remember I was shorted it at $74 and making 40%
A project having a good product doesn't mean its price will be good too.
I've been investing in crypto for over 7 years and have seen many projects with good… pic.twitter.com/Fd6ob1RoJN
— Ryker 🇯🇵 (@Ryker_Crypto) August 2, 2026
Technical analysis identifies $52 as the immediate support level, with a retest of $56 resistance the likely next move if that support holds. A break below $50 opens the path toward $48, with price direction closely correlated with Bitcoin’s near-term trajectory.
On August 4, HYPE’s 3.57% bounce to $54.07, outpacing Bitcoin’s 1% gain on the day, suggested some rotation capital was returning to the altcoin.
Bull case: HYPE holds $52 support, closes a daily candle above $56 on elevated volume, and reignites momentum toward $60 as altcoin rotation broadens.
Base case: Price consolidates in the $52–$56 range while the market waits on evidence that core perps revenue can recover from the July trough.
Bear case: A break below $50 triggers the next leg down toward $48, with $41–$43 cited as a secondary target by technical analysts if that level fails.
Institutional interest in HYPE remains, as Japan-listed Eole Inc. has established a corporate treasury position, indicating some buyers view current prices as an entry point.
Devens believes Hyperliquid can recover its crypto perpetuals business and monetize new products, though she notes short-term predictions are challenging. The market’s key questions focus on whether Hyperliquid’s core perp’s business can regain lost ground and if AQAv2-driven buybacks can compensate for the absence of PURR treasury support.
Until monthly revenue shows improvement from July’s $43M, the bullish narrative remains unproven. Analysts like Bitwise CIO Matt Hougan advocate for HYPE’s long-term potential, but immediate price support depends on fundamental performance.
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Hyperliquid has recorded a new milestone, with open interest in traditional asset markets (HIP-3) surpassing $4.13 billion for the first time, according to Hyperscreener ASXN. Meanwhile, daily trading volume saw an extraordinary jump, soaring 229% to $4.87 billion and fully exceeding the amount of capital held on the platform.
While traditional stock exchanges are closed, crypto traders are shifting en masse from memecoin speculation to 24/7 trading in tokenized stocks, commodities and indices on blockchain rails.
Contracts tied to shares of memory chip manufacturers SK Hynix and Micron Technology surged into the top-traded markets, allowing traders to react instantly to overnight news.
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Hyperliquid HIP-3 daily open interest, Source: Hyperscreener ASXN You Might Also Like
The main source of disruption in the equities section over the past 24 hours was Palantir (PLTR), whose explosive 25.86% gain topped the list of the day's best performers. This move triggered a major wipeout of leveraged positions, causing daily liquidations across markets deployed by xyz to jump 544% and exceed $19.25 million.
However, this new Hyperliquid all-time high also has a downside, as the free market quickly eliminated weaker players and led to a near-total monopoly.
Reality behind the $4.13 billion RWA boomInfrastructure project xyz has captured almost complete control over liquidity on Hyperliquid, accumulating $4.12 billion of the total $4.13 billion. Amid this, smaller deployers are barely holding a modest $15 million to $20 million, while one of the ecosystem's pioneers, the Felix protocol, has already officially announced the closure of its markets.
Such harsh conditions are explained by the platform's tokenomics, as a major participant must lock 500 million HYPE tokens as collateral to launch a trading interface, while half of the fees generated are directed toward HYPE buybacks.
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The explosive growth of the RWA sector has demonstrated that round-the-clock stock trading on blockchain rails is no longer a hypothetical experiment, but a mature market with billions of dollars in turnover.
However, as it continues to scale, the decentralized industry will have to address a classic challenge — how to develop an ecosystem in which virtually all real liquidity is concentrated in the hands of a single monopolist.
ADA: Symmetrical Triangle Breakout With A 40% Measured Move TargetCardano (CRYPTO: ADA) reached $0.195 for the first time since July 4, with its market cap up 24% over the past week, according to Santiment on X.
The analytics firm noted that ADA has 7,070 fewer non-empty wallets than two months ago, pointing to stronger buyers absorbing supply while retail confidence has not yet returned.
After a symmetrical triangle breakout fired over the past several sessions, price now trades above both the 20-day EMA at $0.1734 and 50-day EMA at $0.1755, with RSI at 68.25 showing strong momentum.
The measured move from the triangle base projects a 40.92% upside target of $0.24.
Moreover, Cardano’s ecosystem activity has also picked up, with Leios testnet work, Hydra scaling progress, Mithril upgrades, Pyth integration, and fresh Catalyst funding all contributing to the backdrop.
Key levels for ADA: $0.197 — 100-day EMA, immediate resistance $0.20 — psychological resistance above $0.24 — measured move target on continuation $0.175 — 50-day EMA, must hold on any retest HYPE: $218 Billion In July Volume, More Than Every Other DEX CombinedHYPE bounces 3% to $55.65, tagging the long-term ascending trendline that has supported price since the March lows and underpinned the entire rally from $28 to $76.
The Supertrend remains bearish at $60.87 and EMAs cluster tightly between $56.62 and $59.62 as dense resistance above.
Key levels for HYPE: $60.87 — Supertrend, reclaiming this flips short-term bias bullish $57.22 — 20-day EMA, first resistance above $52 to $53 — ascending trendline floor, macro support AVAX: Kenya Puts 15 Million Academic Records On AvalancheKCSE 2025 certificates for nearly 1 million students are now exclusively available through the e-certificate platform, with the system projected to reach roughly 35 million verifiable records going forward.
The move adds to a growing list of governments building on Avalanche. The California DMV digitized 42 million vehicle titles on the network, while Bergen County, New Jersey is tokenizing 370,000 property deeds representing $240 billion in real estate value.
Meanwhile, AVAX pushes 3.5% Tuesday, pressing the upper boundary of a two-month consolidation box. Bollinger Bands are expanding upward after weeks of compression, with a daily close above $6.85 opening a move toward $7.48.
Key levels for AVAX: $6.85 — box ceiling and Bollinger upper band, the breakout trigger $7.48 — 100-day EMA, next target above $6 — box floor, critical downside support Photo via Shutterstock
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Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Dinari partners with Circle to offer tokenized stock services to US investors.
According to Fortune, Dinari has partnered with stablecoin giant Circle to enable U.S. investors to trade stocks via self-custody wallets for the first time. Dinari’s model replaces the traditional brokerage stack with a wallet-based system, allowing users to instantly fund their accounts using the stablecoin USDC. For decades, buying stocks has meant going through brokers, waiting for trade settlements, and facing limited trading outside market hours. Dinari aims to change this. On Tuesday, the San Mateo, California-based firm, which converts publicly traded stocks into tokens, announced it has tokenized the entire S&P 500 index and is offering these tokenized stocks to U.S. investors.
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Philadelphia Semiconductor Index Rises More Than 5 Percent
According to market data from BIT (bit.com), the Philadelphia Semiconductor Index rose over 5%, with SanDisk up around 8%, SK Hynix gaining about 7%, Micron Technology increasing roughly 7%, and Western Digital climbing approximately 5%.
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The three major U.S. stock indexes all opened higher.
According to market data from BIT (bit.com), US stocks opened with the Dow Jones Industrial Average up 1.17%, the S&P 500 rising 0.4%, and the Nasdaq gaining 0.78%. Palantir (PLTR.N) surged 14.7% after the company significantly lifted its full-year revenue forecast. SpaceX (SPCX.O) and AMD (AMD.O) are scheduled to release their earnings reports post-market, with their shares climbing 2.8% and 3.7% respectively. Micron Technology (MU.O) rose 4%, while Corning (GLW.N) advanced 5.6%.
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Amazon shares fell over 2%, with founder Jeff Bezos planning to sell 15 million shares.
According to market data from BIT (bit.com), Amazon (AMZN.O) fell 2.07% to a current price of $278.135, and its founder Jeff Bezos intends to sell 15 million shares.
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The Linux Foundation has released a draft for public comment on the 'Shared AI Discovery Exchange Guidelines'.
According to NVIDIA’s blog, as the annual Black Hat Security Conference kicks off today in Las Vegas, members of the Open Secure AI Alliance (OSAA) are developing new guidelines to strengthen cybersecurity protections for agent AI. The alliance now has over 120 institutional members. The Linux Foundation today released a draft for comment of the Shared AI Discovery and Exchange (SAFE) Guide, a set of proposed guidelines aimed at turning cybersecurity incidents in the agent AI space into shared protective capabilities for the entire ecosystem. The SAFE Guide was drafted by the Open Secure AI Alliance working group. Alliance members including NVIDIA, Cisco Systems, CrowdStrike, Hugging Face, and Red Hat are collaborating with the Linux Foundation to support the initial proposal. The SAFE Guide includes several recommended measures: confidentially collecting and analyzing AI security incidents and "near-miss events"; notifying affected stakeholders; identifying recurring failures in security controls; and publishing evidence-based operational recommendations to reduce risks across the entire system.
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Dinari partners with Circle to offer tokenized stock services to US investors.
According to Fortune, Dinari has partnered with stablecoin giant Circle to enable U.S. investors to trade stocks via self-custody wallets for the first time. Dinari’s model replaces the traditional brokerage stack with a wallet-based system, allowing users to instantly fund their accounts using the stablecoin USDC. For decades, buying stocks has meant going through brokers, waiting for trade settlements, and facing limited trading outside market hours. Dinari aims to change this. On Tuesday, the San Mateo, California-based firm, which converts publicly traded stocks into tokens, announced it has tokenized the entire S&P 500 index and is offering these tokenized stocks to U.S. investors.
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According to market data from BIT (bit.com), the Philadelphia Semiconductor Index rose over 5%, with SanDisk up around 8%, SK Hynix gaining about 7%, Micron Technology increasing roughly 7%, and Western Digital climbing approximately 5%.
7 minutes ago
The three major U.S. stock indexes all opened higher.
According to market data from BIT (bit.com), US stocks opened with the Dow Jones Industrial Average up 1.17%, the S&P 500 rising 0.4%, and the Nasdaq gaining 0.78%. Palantir (PLTR.N) surged 14.7% after the company significantly lifted its full-year revenue forecast. SpaceX (SPCX.O) and AMD (AMD.O) are scheduled to release their earnings reports post-market, with their shares climbing 2.8% and 3.7% respectively. Micron Technology (MU.O) rose 4%, while Corning (GLW.N) advanced 5.6%.
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Amazon shares fell over 2%, with founder Jeff Bezos planning to sell 15 million shares.
According to market data from BIT (bit.com), Amazon (AMZN.O) fell 2.07% to a current price of $278.135, and its founder Jeff Bezos intends to sell 15 million shares.
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The Linux Foundation has released a draft for public comment on the 'Shared AI Discovery Exchange Guidelines'.
According to NVIDIA’s blog, as the annual Black Hat Security Conference kicks off today in Las Vegas, members of the Open Secure AI Alliance (OSAA) are developing new guidelines to strengthen cybersecurity protections for agent AI. The alliance now has over 120 institutional members. The Linux Foundation today released a draft for comment of the Shared AI Discovery and Exchange (SAFE) Guide, a set of proposed guidelines aimed at turning cybersecurity incidents in the agent AI space into shared protective capabilities for the entire ecosystem. The SAFE Guide was drafted by the Open Secure AI Alliance working group. Alliance members including NVIDIA, Cisco Systems, CrowdStrike, Hugging Face, and Red Hat are collaborating with the Linux Foundation to support the initial proposal. The SAFE Guide includes several recommended measures: confidentially collecting and analyzing AI security incidents and "near-miss events"; notifying affected stakeholders; identifying recurring failures in security controls; and publishing evidence-based operational recommendations to reduce risks across the entire system.
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According to Saudi Arabia's Al Arabiya TV, arrangements for the full reopening of the Strait of Hormuz will be announced within hours or tomorrow.
Hyperliquid’s perpetual volume in July reached $218 billion, surpassing the combined volume of the other seven leading decentralized exchanges (DEXs), according to a report by WuBlockchain. This milestone highlights Hyperliquid’s significant market impact amid an overall strong month for onchain activity. The data comes as the decentralized finance sector experienced a surge, with DEXs collectively surpassing $1 trillion in monthly volume, and perpetual contracts reaching new highs. Hyperliquid operates on its own Layer 1 (L1) blockchain and has been noted for its record-breaking activity in July.
The volume figure reported by WuBlockchain appears to differ from other industry sources such as DefiLlama, which estimated Hyperliquid’s monthly perpetual volume to be in the range of $313.4 billion to $323.4 billion. This discrepancy may arise from different methodologies in calculating volumes or varying reporting sources. Nevertheless, the reported $218 billion still places Hyperliquid ahead of its competitors, reinforcing its competitive position as a leading player in the decentralized exchange space.
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Markets seem to respond to Hyperliquid’s recent performance with mixed optimism. The probability of Hyperliquid reaching a price of $100 by the end of the year shows a slight decline, suggesting that while the volume news is positive, other factors may be influencing market sentiment.
Key Takeaways Hyperliquid’s reported $218 billion July volume suggests strong market engagement and surpasses the combined volume of other leading DEXs. Discrepancies in volume figures from different sources indicate varying definitions or reporting practices. Market response to Hyperliquid’s performance appears mixed, with a slight decline in the probability of reaching $100 by year’s end. What to Watch Observers will be keen to see if Hyperliquid maintains its momentum in the coming months and how this impacts its market position. Any announcements of new partnerships or technological innovations could further influence its market perception. Additionally, the resolution of discrepancies in volume reports could clarify Hyperliquid’s exact standing in the market. Market participants will also watch for broader trends in the decentralized finance sector that could affect Hyperliquid’s prospects.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 17.5% — — View market → January 1 2027 5.5% — — View market → January 1 2027 2.9% — — View market → January 1 2027 33.5% — — View market → January 1 2027 12.3% — — View market → January 1 2027 2.8% — — View market →
Ripple (XRP) trades above $1.00 on Tuesday, approaching the apex of a symmetrical triangle pattern. Cardano (ADA) and Hyperliquid (HYPE) hold steady, sustaining gains from the recent rebound. The technical outlook for XRP is mixed while ADA and HYPE maintain a bullish bias.
Technical outlook: XRP nears triangle pattern breakoutXRP maintains a mixed tone on the daily chart, trapped between two converging trendlines forming a symmetrical triangle pattern. At the time of writing, XRP trades above the rising support trend line around $1.0510, but the nearby downward resistance trend line at $1.1123, reinforced by the 50-day Exponential Moving Average (EMA) at $1.1194, suggests the price remains capped within a broader corrective structure.
The Relative Strength Index (RSI) near 45 remains in neutral territory with a slightly downward slope, while the Moving Average Convergence Divergence (MACD) edges higher to its signal line, hinting at a potential bullish crossover.
A slip below the support trendline at $1.0510 could extend the decline below $1.000 toward the S2 Pivot level at $0.9945.
XRP/USDT daily price chart.On the topside, initial resistance is seen at the descending trend line around $1.1123, followed closely by the 50-day EMA near $1.1194, forming a tight supply zone that bulls would need to clear to ease the current downside bias. A potential breakout could face resistance at the R1 Pivot level at $1.1568.
Technical outlook: ADA gains bullish momentumCardano extends a renewed bullish bias after reclaiming the 50-day EMA at roughly $0.1755 and breaking above the former downtrend resistance line, now turned support, near $0.1735. Price holds well below the 200-day EMA at about $0.2700, so the broader trend remains capped.
The firm RSI at 67 nears the overbought zone, while the rising MACD above its signal line suggests improving upside momentum. The path of least resistance for ADA remains upside, but price could face headwinds as it attempts to reclaim the February 6 low at $0.2250.
ADA/USDT daily price chart.Looking down, initial support is seen at the 50-day EMA at $0.1755, reinforced by the former descending trendline around $0.1735.
Technical outlook: HYPE rebounds above $50HYPE retains a bearish near-term bias, trading below the 50-day EMA at $59.58 but above the longer-term 200-day EMA at $50.78. The mild recovery above the 200-day EMA hints at a retest of the 50% retracement level, measured from the $38.17 low to the $76.93 high, at $57.55. For a sustained recovery, HYPE must reclaim the 50-day EMA at $59.58.
Downside momentum eases, with the MACD and signal line converging for a bullish crossover while the RSI around 39 shows a rebound before reaching oversold conditions.
HYPE/USD daily price chart.Initial support is located at the 200-day EMA around $50.79, with a deeper floor at the 23.6% Fibonacci retracement level at $47.32.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
@Hyperliquidx perpetual futures volume on @TrustWallet has crossed the $3 billion mark, a milestone that underscores the rapid mainstream adoption of on-chain derivatives trading through mobile platforms.
Mobile Distribution Unlocks a New Retail Wave The integration, which went live in late April 2026, gave Trust Wallet's 220 million-plus users access to Hyperliquid's high-performance decentralized blockchain, which has executed over $4 trillion in total trading volume, delivering deeper liquidity, more markets, and faster execution without leaving the app.
The move gives those users access to over 200 perpetual futures markets covering cryptocurrencies and real-world assets like oil and gold, without connecting external applications. Hyperliquid launched in Trust Wallet with 0% markup on fees for the first three months, a clear effort to accelerate user onboarding and build trading habit on mobile.
Perp trading has long been dominated by desktop-first platforms, making the Trust Wallet integration a meaningful structural shift. Routing institutional-grade perpetuals through a self-custody mobile wallet removes one of the last friction points for retail participation in on-chain derivatives.
Hyperliquid Cements Its Lead in On-Chain Perps The $3 billion volume figure on Trust Wallet alone reflects broader momentum for the protocol. Hyperliquid processed $633 billion in trading volume during Q1 2026 alone, with daily volume running between $3 billion and $10 billion depending on market conditions. Its share of on-chain perpetual futures volume climbed to 44% by mid-2026, even as new competitors entered the space.
The protocol's edge is largely architectural. Hyperliquid's order book clears trades with sub-second finality at 100,000 orders per second, a throughput level that allows it to offer execution quality typically associated with centralised venues while remaining fully non-custodial.
The Trust Wallet channel adds a distribution layer that competitors have struggled to replicate. By embedding directly into a wallet with a nine-figure user base, @Hyperliquidx gains access to retail capital that would otherwise flow to centralised exchanges, without requiring users to bridge assets or navigate separate applications.
Sources:
Trust Wallet brings the perp DEX war to mobile with Hyperliquid integration (Crypto Briefing)
Trust Wallet Adds Hyperliquid Perps with 0% Fees for 3 Months (Crypto Times)
Hyperliquid captures 80% of decentralized perpetual trading volume (Crypto Briefing)
HIP-4 permissionless deployments are live on testnet. Hyperliquid should make sure they get to mainnet by the midterms.
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Hyperliquid's HIP-4 markets have had their largest success stem from the World Cup.
I didn’t expect this. When HIP-4 launched, I argued that Hyperliquid was not really coming for Polymarket or Kalshi. That outcome markets rather looked more like an extension of its trading stack: daily crypto binaries for hedging perps, options-like exposure, and another way to keep every leg of a position inside Hyperliquid.
Breaking Down Hyperliquid’s Prediction Play on Bankless
The HIP-4 upgrade brings “outcome markets” to the much-hyped exchange, adding binary trading alongside perps.
BanklessDavid Christopher
Instead, Hyperliquid launched markets for the NBA Finals, individual World Cup matches, and the tournament winner. Those three categories, though overwhelmingly the latter two, have accounted for roughly 48% of HIP-4 volume to date.
Since the height of the tournament, open interest is down more than 90%. To be clear though, HIP-4 has not failed. It’s simply run out of things to trade for the time being.
The system is still permissioned, so validators currently deploy every market. What remains is a thin book of price-related questions pulling trivial amounts of volume compared to that spurred by sports.
That constraint is what Hyperliquid is now trying to remove. On July 31st, permissionless HIP-4 deployments went live on testnet, paving the way for teams to create and operate outcome markets on their own, while showing what it will take to do so.
How Permissionless HIP-4 WorksNote that permissionless deployments will not mean unlimited deployments.
Under the preliminary mainnet design, validators first approve market templates, i.e. reusable structures that define how a market can be created and settled. A deployer then uses an approved template to launch a specific market, supplying details like the question, possible outcomes, expiration, and resolution criteria.
Take politics for example — you’ll see why in a minute — where an approved binary-event template could potentially support a market on whether a candidate wins an election. But Hyperliquid hasn't disclosed how broad each template will be, so it is unclear whether one could cover Senate, House, and governor races, or whether different structures would be needed for party-control, seat-count, or multi-candidate questions.
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What is clear is that deployers will launch markets by instantiating templates validators have already approved, rather than seeking approval for each individual market.
As in HIP-3, deployers are responsible for defining and settling markets correctly, and validators can slash their stake if they get it wrong.
That proposed stake is 500,000 HYPE (same as HIP-3), locked for six months and withdrawable only when no outstanding markets exist. Each deployer will initially receive capacity for 100 outcomes, reusable once markets settle, with an auction for additional capacity planned later. Deployers will eventually be able to receive up to 50% of the trading fees from their markets.
What’s Next After the World Cup?The most obvious target is the U.S. midterms.
Prediction markets first broke into the mainstream through politics, and both Kalshi and Polymarket already run broad election dashboards covering congressional control, individual races, and seat totals. HIP-4 currently offers none.
Whether outside deployers can go ahead and fill that gap depends on how quickly permissionless HIP-4 moves to mainnet. HIP-3 took 164 days from its first permissionless testnet MVP to mainnet, though only 18 days from publishing its initial mainnet specification and making HIP-3 eligible for mainnet-level bug bounties.
HIP-4 sits somewhere between those points. Its preliminary mainnet structure is public and deployer actions are live on testnet, but there are no mainnet-level bug bounties. We’re in limbo for now.
If this system arrives in time, a deployer could use the midterms to build an entire election venue rather than launch isolated questions, so long as validators also approve templates supporting elections.
If permissionless deployment misses that window, validators could still list midterm markets themselves. HIP-4 could recover activity either way. What it would lose is its first major opportunity to prove that outside deployers can keep it supplied with timely markets.
The World Cup proved Hyperliquid users will trade major real-world events. It also proved that, when these events end, there’s not much else to go on. The intensity of this midterms cycle would be a strong opportunity for HIP-4 to act on, helping it simultaneously stay relevant and jumpstart permissionless deployments. Keep an eye on this in the weeks ahead.
Blockworks Research analyst Shaunda Devens argued in a recent X post that Hyperliquid’s retreat to around $52 marks a return to a more realistic valuation after a flow-driven rally carried the token well above its fundamentals.
HYPE has ranked among the market’s stronger performers this year, climbing against the broader downturn at several points and still holding a year-to-date gain near 101%, which increased attention on how far the current pullback might run.
Devens traced the run-up to concentrated buying by Hyperliquid Strategies [PURR], the digital-asset treasury accumulating 11.12 million HYPE at a pace often above $100 million per week.
The accumulation left the treasury holding close to 10% of HYPE’s circulating supply, the largest share held by any digital-asset treasury in crypto and ahead of Strategy’s 4.5% Bitcoin position built over several years.
Source: Blockwork/Shauna Devens News of the AQAv2 upgrade added to the momentum since the framework routes the majority of stablecoin reserve-yield revenue back to the protocol to fund HYPE buybacks. Devens named it alongside the treasury flows as the twin drivers of the move above $50.
Because the rally leaned on the treasury bid and momentum traders instead of fundamentals, Devens saw a clear invalidation, stating that:
“Because the move was largely independent of fundamentals, driven by the DAT bid and momentum traders, with a clear invalidation once that buying stopped, it was fairly clear holders and traders would take profits into these temporarily elevated prices.”
HYPE recently traded largely uncorrelated from the rest of crypto, yet the core business stays heavily tied to on-chain activity. Devens flagged July revenue of $43 million against $92 million in the same month a year earlier as the shift price is now starting to reflect.
HYPE Spot flows still lack a clear accumulation signal CoinGlass Spot data points to more HYPE leaving exchanges than entering them over the past 30 days, near $22.34 million in net outflows, a reading typically consistent with accumulation as coins move off trading venues.
The gap stays narrow, though, and it holds short of the decisive accumulation needed to push HYPE higher from here.
Until those exchange outflows widen into sustained buying, HYPE’s near-term direction stays unresolved.
Final Summary Treasury buying of 11.12M HYPE drove the rally, so the price rolled over once that bid stopped. HYPE’s next move hinges on the core business, with July revenue down to $43M from $92M a year ago.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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.
Palantir’s revenue rose 93% year-over-year, far exceeding expectations, as its "AI Sovereignty" strategy drives a re-rating of its valuation.
Palantir (PLTR)’s latest financial report shows that the company’s second-quarter revenue rose 93% year-over-year to $1.94 billion, net profit hit $1.06 billion, and it significantly raised its full-year performance guidance. Boosted by the results, the company’s stock price climbed more than 12% in after-hours trading on Monday. Palantir forecasts full-year 2026 revenue of at least $8.15 billion, up from its prior expectation of less than $7.7 billion. U.S. commercial business revenue is projected to reach $3.4 billion, growing at least 134% year-over-year, making it the key growth driver. Markets had previously worried that the rapid expansion of AI model firms like OpenAI and Anthropic could erode Palantir’s competitiveness, but this earnings report has reignited investors’ focus on its "AI Sovereignty" business model. Palantir CEO Alex Karp noted that enterprises and governments are seeking control over their own data, AI systems, and decision-making processes, a key source of the company’s growth. The so-called "AI Sovereignty" refers to enterprises preventing their core data from being used for training by external AI model providers, while ensuring AI systems align with their own business needs. Palantir argues that future enterprises need not just base models, but AI platforms that can manage data, integrate into business workflows, and protect competitive advantages. In recent years, Palantir has been expanding its enterprise AI business and criticized the business models of some AI labs, claiming that enterprises pay large fees to model suppliers yet may lose control over their core data. However, Palantir still faces pressure in overseas markets. Due to the company’s long-standing work with the U.S. government and defense sector, some European nations are reducing their reliance on U.S. tech firms. As of the latest quarter, international client revenue makes up about 19% of Palantir’s total revenue, down from 26% in 2025.
1 minutes ago
The Bank of Korea has resumed purchasing physical gold after a 13-year hiatus, aiming to diversify its foreign exchange reserves.
According to South Korea’s Seoul Economic Daily, the Bank of Korea (BOK) has restarted its physical gold purchase plan after 13 years, sourcing gold from South Korean gold producers’ planned exports via the Korea Exchange (KRX) gold market and Korea Securities Depository (KSD) infrastructure. The BOK announced on the 3rd that it has established a cooperation framework with KRX, KSD, and gold producer LS MnM to jointly advance domestic gold procurement. The transactions will be executed as block trades on the KRX gold market, with settlement and custody managed by KSD. The BOK said purchasing export-focused gold is primarily intended to mitigate impacts on domestic gold market prices and reduce interference with intraday market fluctuations through block trades. This marks the BOK’s first resumption of physical gold purchases since 2013. Between 2011 and 2013, the BOK accumulated 90 tons of gold, but suspended procurement after valuation losses stemming from subsequent gold price drops. As of the end of June this year, the BOK’s foreign exchange reserves totaled $427.36 billion, with gold reserves valued at roughly $4.79 billion, accounting for just 1.1%. Against the backdrop of major global central banks continuing to boost gold allocations, the BOK’s move is viewed as a step to diversify foreign exchange reserves and lower concentration in dollar assets. However, the BOK noted future purchase volumes will not be large. South Korea’s annual domestic gold output is around 40 to 45 tons, of which only 4 to 5 tons are exportable. The BOK emphasized that the resumption of gold purchases is not based on gold price trend judgments, but rather on corporate procurement requests, domestic and international gold prices, and market conditions to decide transaction timings.
1 minutes ago
HOME token surges over 30% in a short period, with its market cap climbing to $38.5 million.
Per HTX market data, possibly driven by news that Upbit will list HOME on its KRW and USDT trading pairs, HOME surged over 30% in a short time, currently trading at $0.00899, with its market capitalization rising to $38.5 million.
1 minutes ago
South Korea’s semiconductor cluster has received enhanced policy support, with the government covering up to 100% of its infrastructure construction costs.
Moody's assigns SK Hynix a Class A rating for the first time, as the AI storage boom has boosted the company's performance.
Global credit rating agency Moody’s has for the first time upgraded SK Hynix’s credit rating to the A range, reflecting the chipmaker’s enhanced competitiveness in the AI storage market, as well as improvements in its profitability and cash generation capabilities. The day before, Moody’s raised SK Hynix’s long-term issuer rating and senior unsecured bond rating by one notch, from Baa1 to A3, with a stable rating outlook. This marks the first time SK Hynix has obtained an A-level rating from Moody’s since it was acquired by SK Group in 2012, and it is also the first of the three major international credit rating agencies to assign an A-level rating to SK Hynix. Currently, both S&P Global Ratings and Fitch Ratings assign SK Hynix a rating of BBB+, with S&P holding a positive outlook and Fitch a stable outlook. Moody’s forecasts that SK Hynix will maintain strong profitability and cash generation capabilities over the next 12 to 18 months, with its financial position set to improve further. Moody’s noted that the company has built up sufficient cash reserves, strengthening its ability to withstand downside risks from the semiconductor cycle.
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.
Palantir’s revenue rose 93% year-over-year, far exceeding expectations, as its "AI Sovereignty" strategy drives a re-rating of its valuation.
Palantir (PLTR)’s latest financial report shows that the company’s second-quarter revenue rose 93% year-over-year to $1.94 billion, net profit hit $1.06 billion, and it significantly raised its full-year performance guidance. Boosted by the results, the company’s stock price climbed more than 12% in after-hours trading on Monday. Palantir forecasts full-year 2026 revenue of at least $8.15 billion, up from its prior expectation of less than $7.7 billion. U.S. commercial business revenue is projected to reach $3.4 billion, growing at least 134% year-over-year, making it the key growth driver. Markets had previously worried that the rapid expansion of AI model firms like OpenAI and Anthropic could erode Palantir’s competitiveness, but this earnings report has reignited investors’ focus on its "AI Sovereignty" business model. Palantir CEO Alex Karp noted that enterprises and governments are seeking control over their own data, AI systems, and decision-making processes, a key source of the company’s growth. The so-called "AI Sovereignty" refers to enterprises preventing their core data from being used for training by external AI model providers, while ensuring AI systems align with their own business needs. Palantir argues that future enterprises need not just base models, but AI platforms that can manage data, integrate into business workflows, and protect competitive advantages. In recent years, Palantir has been expanding its enterprise AI business and criticized the business models of some AI labs, claiming that enterprises pay large fees to model suppliers yet may lose control over their core data. However, Palantir still faces pressure in overseas markets. Due to the company’s long-standing work with the U.S. government and defense sector, some European nations are reducing their reliance on U.S. tech firms. As of the latest quarter, international client revenue makes up about 19% of Palantir’s total revenue, down from 26% in 2025.
1 minutes ago
The Bank of Korea has resumed purchasing physical gold after a 13-year hiatus, aiming to diversify its foreign exchange reserves.
According to South Korea’s Seoul Economic Daily, the Bank of Korea (BOK) has restarted its physical gold purchase plan after 13 years, sourcing gold from South Korean gold producers’ planned exports via the Korea Exchange (KRX) gold market and Korea Securities Depository (KSD) infrastructure. The BOK announced on the 3rd that it has established a cooperation framework with KRX, KSD, and gold producer LS MnM to jointly advance domestic gold procurement. The transactions will be executed as block trades on the KRX gold market, with settlement and custody managed by KSD. The BOK said purchasing export-focused gold is primarily intended to mitigate impacts on domestic gold market prices and reduce interference with intraday market fluctuations through block trades. This marks the BOK’s first resumption of physical gold purchases since 2013. Between 2011 and 2013, the BOK accumulated 90 tons of gold, but suspended procurement after valuation losses stemming from subsequent gold price drops. As of the end of June this year, the BOK’s foreign exchange reserves totaled $427.36 billion, with gold reserves valued at roughly $4.79 billion, accounting for just 1.1%. Against the backdrop of major global central banks continuing to boost gold allocations, the BOK’s move is viewed as a step to diversify foreign exchange reserves and lower concentration in dollar assets. However, the BOK noted future purchase volumes will not be large. South Korea’s annual domestic gold output is around 40 to 45 tons, of which only 4 to 5 tons are exportable. The BOK emphasized that the resumption of gold purchases is not based on gold price trend judgments, but rather on corporate procurement requests, domestic and international gold prices, and market conditions to decide transaction timings.
1 minutes ago
HOME token surges over 30% in a short period, with its market cap climbing to $38.5 million.
Per HTX market data, possibly driven by news that Upbit will list HOME on its KRW and USDT trading pairs, HOME surged over 30% in a short time, currently trading at $0.00899, with its market capitalization rising to $38.5 million.
1 minutes ago
South Korea’s semiconductor cluster has received enhanced policy support, with the government covering up to 100% of its infrastructure construction costs.
Moody's assigns SK Hynix a Class A rating for the first time, as the AI storage boom has boosted the company's performance.
Global credit rating agency Moody’s has for the first time upgraded SK Hynix’s credit rating to the A range, reflecting the chipmaker’s enhanced competitiveness in the AI storage market, as well as improvements in its profitability and cash generation capabilities. The day before, Moody’s raised SK Hynix’s long-term issuer rating and senior unsecured bond rating by one notch, from Baa1 to A3, with a stable rating outlook. This marks the first time SK Hynix has obtained an A-level rating from Moody’s since it was acquired by SK Group in 2012, and it is also the first of the three major international credit rating agencies to assign an A-level rating to SK Hynix. Currently, both S&P Global Ratings and Fitch Ratings assign SK Hynix a rating of BBB+, with S&P holding a positive outlook and Fitch a stable outlook. Moody’s forecasts that SK Hynix will maintain strong profitability and cash generation capabilities over the next 12 to 18 months, with its financial position set to improve further. Moody’s noted that the company has built up sufficient cash reserves, strengthening its ability to withstand downside risks from the semiconductor cycle.
Hyperliquid’s Open Interest climbed to a record $5.25 billion, overtaking Bybit’s $5.07 billion. The milestone extends earlier gains over HTX, Bitfinex, Kraken, and Coinbase. Those rankings reflect sustained growth across the perpetual Futures market.
Trading activity also remained elevated throughout the latest reporting period. Hyperliquid [HYPE] processed $3.48 billion in perpetual volume over the past 24 hours. Monthly perpetual volume also reached $196 billion, reinforcing steady trader participation.
According to DeFiLlama data, over the last 24 hours, Hyperliquid traded approximately $13 billion in perpetual trading volume. Additionally, monthly perpetual trading volume stood at $196 billion, continuing to demonstrate increased participation among traders.
Source: Onchain Lens Those figures suggest traders continue opening and holding positions rather than exiting quickly. That pattern supports the continued rise in outstanding contracts across the platform.
Nevertheless, it should be noted that record Open Interest alone cannot distinguish fresh participation from heavier leverage. Instead, strong volume along with rising Open Interest shows that conviction remains healthy even as leverage is growing.
Maintaining deep liquidity, orderly liquidations, and consistent participation will determine if Hyperliquid can retain leadership in derivatives against competitors.
Protocol revenue continues expanding Hyperliquid continues leveraging its strong derivatives activity and converting higher trading demand into real value capture. Over the last 24 hours, Hyperliquid burned approximately $643,140 worth of HYPE tokens, reflecting fees generated as usage on the platform continues.
That activity also transferred $513,800 of protocol revenue to both the Assistance Fund and token holders and links the growth of the network directly to incentives within the ecosystem.
Source: X Meanwhile, cumulative burns reached 46.18 million HYPE, worth roughly $2.43 billion, or 4.62% of the token’s maximum supply. Rather than relying solely on a deflationary mechanism, Hyperliquid continues pairing token burns with recurring protocol revenue.
Previously, AMBCrypto reported that Hyperliquid revenue generation has strengthened as usage of the protocol has grown along with this trend.
Recently, priority fees have emerged as another meaningful contributor and have generated $5.07 million since April, with $2.75 million in the last month alone.
Those proceeds complement trading fees by adding another recurring revenue stream. Meanwhile, buybacks through the Assistance Fund and priority-fee burns continue to reinforce value capture, provided elevated trading volume and Open Interest remain sustained.
All in all, if trading activity stays high, that combination could enhance long-term value capture by reducing supply at the same time, rewarding participants through sustained cash flows generated by the network.
Twenty-Two Liquidations and CountingCrypto trader @JamesWynnReal has now been liquidated 22 times trading S&P 500 perpetual futures on Hyperliquid. Realized losses on the position have reached roughly $73,100, according to on-chain tracker Onchain Lens. The latest liquidation hit on Monday, his fifth in just three days.
Hypurrscan data shows all 22 liquidations occurred between May 13 and August 3, wiping out roughly $1.29 million in notional value, including a single $437,500 liquidation on June 30.
Despite the repeated wipeouts, Wynn continues to hold a 70.50 SP500 short worth about $530,900 at 50x leverage. The current short was entered at 7,418.59 and faces liquidation at 7,548.37, carrying an unrealized loss of $7,900 while overall margin usage sits at 81.5%, leaving $0 available for withdrawal from an account worth just $6,512.
A Dramatic Decline From a $100M PeakWynn's all-time loss on the platform stands at $22.07 million, with a 28% win rate across 67 trades. The account has fallen catastrophically from a historical peak of $100 million, a collapse that has played out in public view on the blockchain.
The equity shorts extend a bearish stance Wynn outlined in April, when he paired oil longs with bets against US indexes, saying: "It's going to get a lot worse before getting better. Current trades: LONG: WTI (Oil) obviously. SHORT: S&P500 obviously. BIG SHORT: NASDAQ obviously."
The market has moved the other way, with the S&P 500 gaining over 13% since his call and closing Friday at 7,489.72. Wynn built his original reputation by turning $7,600 into $25 million on the meme coin PEPE before moving to high-leverage perpetuals, where his profile remains publicly tracked.
BeInCrypto: James Wynn Holds Losing S&P 500 Short as Liquidations Reach 22 | Arkham Intelligence: James Wynn Liquidated Shorting S&P 500 | Yahoo Finance: After 200+ Crypto Liquidations, James Wynn Tries TradFi and Falls Flat
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to data from Onchain Lens, Hyperliquid burned approximately $760,210 worth of HYPE tokens in the past 24 hours. The data shows that in the latest reporting period, Hyperliquid generated around $777,200 in revenue, which was allocated to the Assistance Fund and HYPE holders. To date, Hyperliquid’s cumulative HYPE token burn has reached 46.19 million units, valued at roughly $2.5 billion at current prices, accounting for 4.62% of HYPE’s maximum total supply of 1 billion units.
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Analysis: After multiple threats and concessions from Trump, Iran’s leadership believes he does not want to escalate the war.
According to a report by U.S. broadcaster CBS, Iran appears to be growing increasingly skeptical of former President Donald Trump’s “carrot and stick” diplomatic strategy. In April this year, Trump warned Tehran it must agree to a ceasefire or “the entire civilization will perish,” but later extended the deadline. He repeated similar tactics in May and June. Internal Iranian sources stated this approach has instead reinforced the country’s leadership’s view that Trump is not seeking to escalate the conflict, but rather bargaining chips in negotiations. They believe Iran can withstand pressure and raise the costs for the U.S. via proxies such as Yemen’s Houthi movement and threats to global shipping, until Washington concludes there is no military solution to the conflict. Tehran’s current assessment is that time is on its side.
14 minutes ago
Trump says Strait of Hormuz may reopen at the latest tomorrow, Iran negotiations enter second phase.
US President Donald Trump said that U.S.-Iran talks are advancing rapidly, with both sides discussing the reopening of the Strait of Hormuz, which "could reopen by tomorrow at the latest." Trump noted that the first phase of the talks aims to reopen the Strait of Hormuz, while the second phase will focus on Iran's "denuclearization" issue. He stated that if anyone tries to charge fees in the Strait of Hormuz, "the U.S. will collect the fees," emphasizing that Iran will not be allowed to charge fees in the waterway. Trump also said this is Iran's "last chance," adding that the talks are being held at Iran's request, and relevant results could be announced today or tomorrow. Prior to this, tensions in the Strait of Hormuz have remained high, and markets are closely monitoring its impact on global energy supplies and oil price trends.
14 minutes ago
Michael Saylor: I have never sold any Bitcoin. MicroStrategy's BTC trading is part of the company's capital management activities.
Strategy founder Michael Saylor posted a statement clarifying that his earlier "Never Sell Your Bitcoin" stance was shared with other Bitcoin holders in his capacity as an individual investor. Saylor said he has never sold any Bitcoin, "not even a single satoshi". He emphasized that Strategy is a public company, not a personal wallet, and has publicly disclosed since 2020 that it may buy or sell BTC for capital management purposes. Saylor noted that Strategy and its investors’ long-term conviction in Bitcoin remains unchanged, adding that the company’s related operations are part of its corporate financial strategy, while his personal stance on holding Bitcoin stays consistent. Previously, the market had been monitoring whether Strategy would adjust its Bitcoin holding strategy; Saylor’s latest remarks aim to clearly distinguish between personal Bitcoin holding behavior and public company asset management decisions.
14 minutes ago
Head of Amazon Cloud Business: AI Business Has Enormous Potential Scale
Amazon (AMZN.O)’s cloud unit head said clients are shifting from using its services to train AI models to integrating these models into their own business processes, a trend driving surging demand for inference computing. Matt Garman, CEO of Amazon’s Cloud Computing Division, said on Monday: “We still see some companies using large training clusters, but as these models grow more popular and powerful, more firms are integrating this inference capability into their own workloads.” He noted that the potential of the AI business is “extremely huge,” adding that the company will continue to increase capital expenditure to meet growing demand. As the world’s largest provider of computing power and data rental services, Amazon said last week it projects capital expenditure will reach $220 billion in 2026, up from its prior forecast of $200 billion. The spending hike reflects rising prices of storage chips and other components required for data centers.
14 minutes ago
The US military stated that it will continue its maritime blockade of Iran, and has altered the routes of 44 merchant ships.
US Central Command stated local time on August 3 that the U.S. military remains strictly enforcing the maritime blockade against Iran. As of that day, the U.S. military has altered the routes of 44 commercial vessels, disabled two vessels, and boarded and inspected two others.
14 minutes ago
US officials said there are currently no plans to hold new negotiations with Iran.
According to U.S. network CBS, citing a U.S. official, despite Trump’s earlier announcement that negotiations with Iran would begin Monday afternoon (local time), no new talks are currently scheduled. Instead, ongoing discussions are underway between U.S. Middle East envoy Witkoff, Kushner, and the U.S. negotiating team and Iran via intermediaries.
Perpetual futures tied to stocks, indexes and commodities out-traded crypto pairs on the largest perps DEX for the first time, less than a year after builder-deployed markets went live.
Real-world asset markets accounted for more than half of Hyperliquid's trading volume for two consecutive weeks in July, the first time perps tied to stocks, commodities and indexes out-traded crypto on the platform.
RWA perps did $25.1 billion in the week of July 13–19, or 52% of Hyperliquid's $48.2 billion total, according to Blockworks data. The share held above 50% the following week.
"We are entering a new era for DeFi," Lorenzo Valente, director of digital asset research at ARK Invest, said in a July 23 post on X.. "For the first time ever, @HyperliquidX generated more volume from RWAs than crypto in a single week."
Single stocks made up 61% of RWA volume, overtaking indexes and commodities, he said, adding that Hyperliquid's RWA market alone was larger than the combined crypto perp volume of every other DEX.
Circle CEO Jeremy Allaire called it a "major structural shift" in crypto markets, moving "away from speculating on endogenous digital commodities."
Nine months after Hyperliquid opened permissionless market deployment, its growth comes from traditional assets rather than crypto pairs — and that growth is masking a shrinking crypto perps business.
From 2% to HalfThe RWA markets run on HIP-3, Hyperliquid's framework for builder-deployed perps that went live in October 2025 and requires deployers to stake 500,000 HYPE. HIP-3's share of Hyperliquid perp volume climbed from roughly 2% at the start of the year to around 50% by mid-July.
Dominant deployer trade.xyz, with more than 90% of HIP-3 volume, lists single stocks like Nvidia and Tesla, the XYZ100 Nasdaq tracker, and commodities including gold; Ventuals runs pre-IPO perps on OpenAI and SpaceX.
The category is propping up the topline. Hyperliquid's quarterly volume has fallen by roughly half from its ~$1 trillion Q3 2025 peak to about $550 billion in Q2 2026, per Token Terminal data, with RWA growth offsetting the decline in crypto pairs.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to on-chain analyst Ai Yi (@ai_9684xtpa), two new addresses opened a cumulative 5x long position in KAITO worth $6.94 million (notional value: $7.106 million) on Hyperliquid in the early hours of today, becoming KAITO’s two largest positions. Both addresses sourced their margin from OKX. KAITO has plunged nearly 20% in the past 24 hours, rapidly trimming its month-to-date gains, leaving the two addresses with an unrealized loss of $991,000.
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Fed's Williams: If inflation does not return to the 2% target as expected, the Federal Reserve will take action.
Fed’s Williams strongly supports the FOMC’s latest interest rate decision, reaffirming his commitment to returning inflation to the 2% target. If inflation does not cool to 2% as expected, the Federal Reserve will take action to achieve price stability. Additionally, Williams said he expects the impact of the Middle East conflict on inflation to gradually ease, though he acknowledged lingering uncertainty over the situation. He also noted that market pricing provides valuable insights for the Fed, but the central bank does not need to align with those levels. Furthermore, he argued that AI investment does not pose financial stability risks, adding that he is not surprised by volatility in the AI sector.
9 minutes ago
OKX Ventures released a statement stating that it has never invested in the Dow Protocol project.
Official announcement: OKX Ventures has never invested in Dow Protocol, and any claims alleging its participation in the protocol’s financing are false. Such misinformation has caused adverse impacts on OKX Ventures’ brand reputation. OKX Ventures hereby solemnly condemns this and reserves all rights to pursue legal liability against the relevant parties in accordance with the law. OKX Ventures reminds that to verify relevant partnership information, please confirm through OKX’s official channels. It urges all users and project teams to remain vigilant, not to trust any unconfirmed information, and guard against fraud to avoid property losses.
9 minutes ago
Robinhood’s UK Subsidiary Secures FCA Registration as a Crypto Asset Firm
Robinhood’s UK subsidiary was added to the UK Financial Conduct Authority (FCA)’s register of authorized crypto asset firms on July 31, confirming its compliance with the regulator’s anti-money laundering (AML) requirements. Since the registration scheme came into effect in 2020, more than 50 firms have secured approval, including crypto players Ripple and Kraken, as well as traditional finance giants BlackRock and BNY. The approval comes as the UK prepares to roll out a broader crypto regulatory framework: applications for the new regime will open at the end of September, close in late February next year, and the full set of rules will take effect in October. Firms already registered under the current scheme have completed significant preparatory work for subsequent applications under the new framework.
9 minutes ago
US crypto-related stocks were broadly lower in pre-market trading, with Coinbase down 1.25% and Circle down 5.45%.
According to Bit.com (BIT) market data, most U.S. crypto-related stocks declined in pre-market trading. SharpLink (SBET) fell 1.52%, Bitmine Immersion (BMNR) dropped 2.20%, Bullish (BLSH) declined 1.33%, Circle (CRCL) fell 5.45%, Strategy (MSTR) dropped 1.23%, and Coinbase (COIN) declined 1.25%. Circle posted the largest pre-market decline among the group.
9 minutes ago
Survey: Switzerland's cryptocurrency usage rate reaches 23%, more than twice that of Germany.
Bearingpoint’s latest survey reveals that 23% of Swiss adults use cryptocurrencies at least occasionally — a rate notably higher than Austria’s 18% and Germany’s 11%. Furthermore, 37% of Swiss respondents view cryptocurrencies as worthy investments, 45% think they could become international trade or reserve currencies in the future, and 44% are willing to use central bank digital currencies (CBDCs); all these proportions exceed those of Germany and Austria. The report points out that since Switzerland enacted the DLT Act in 2021, it has developed a mature crypto ecosystem, with Crypto Valley home to 1,749 blockchain and DLT enterprises. Germany, meanwhile, plans to expand crypto asset services via traditional banking channels including DZ Bank and Dekabank to close the adoption gap with Switzerland.
9 minutes ago
Bithumb will suspend EGLD deposits and withdrawals to support the MultiversX network upgrade.
According to official announcements, to support the MultiversX (EGLD) network upgrade, Bithumb will suspend EGLD deposit and withdrawal services starting from August 6 at 18:00 KST. The upgrade is scheduled to take place at 2:00 KST on August 7, and deposit/withdrawal services will resume once the network stabilizes. Trading functions remain unaffected.
According to Hyperinsight monitoring, the whale address starting with 0xc278 has completed 61 BRENTOIL trades since trading Brent crude on March 19, of which 59 were long positions and only 2 were short positions, with a long position ratio of 96.7%. The total net loss from all 61 trades is approximately $2.431 million, with positions worth over $1 million accounting for 99.4% of the total loss. Yesterday morning, its Brent long positions triggered a system liquidation again. The entire liquidation closed out 47,600 BRENTOIL long positions, with a liquidation turnover of about $4.046 million, a weighted liquidation price of approximately $84.99, and a total loss of around $275,000. After the liquidation, the address no longer holds any Brent positions. Before the liquidation, BRENTOIL on Hyperliquid dropped from a high of $91.68 to a low of $82.81 on Sunday, with a maximum decline of 9.7%; its final backup liquidation price was about 7.6% lower than the high. This round of decline mainly occurred after Trump said he would suspend a new round of strikes on Iran and that a Middle East ceasefire agreement was near. The whale had three long positions in early April that lost about $882,000, $513,000, and $460,000 respectively, but afterward it still almost only went long on crude oil, repeatedly recording the largest single liquidation on the network.
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Fed's Williams: If inflation does not return to the 2% target as expected, the Federal Reserve will take action.
Fed’s Williams strongly supports the FOMC’s latest interest rate decision, reaffirming his commitment to returning inflation to the 2% target. If inflation does not cool to 2% as expected, the Federal Reserve will take action to achieve price stability. Additionally, Williams said he expects the impact of the Middle East conflict on inflation to gradually ease, though he acknowledged lingering uncertainty over the situation. He also noted that market pricing provides valuable insights for the Fed, but the central bank does not need to align with those levels. Furthermore, he argued that AI investment does not pose financial stability risks, adding that he is not surprised by volatility in the AI sector.
9 minutes ago
OKX Ventures released a statement stating that it has never invested in the Dow Protocol project.
Official announcement: OKX Ventures has never invested in Dow Protocol, and any claims alleging its participation in the protocol’s financing are false. Such misinformation has caused adverse impacts on OKX Ventures’ brand reputation. OKX Ventures hereby solemnly condemns this and reserves all rights to pursue legal liability against the relevant parties in accordance with the law. OKX Ventures reminds that to verify relevant partnership information, please confirm through OKX’s official channels. It urges all users and project teams to remain vigilant, not to trust any unconfirmed information, and guard against fraud to avoid property losses.
9 minutes ago
Robinhood’s UK Subsidiary Secures FCA Registration as a Crypto Asset Firm
Robinhood’s UK subsidiary was added to the UK Financial Conduct Authority (FCA)’s register of authorized crypto asset firms on July 31, confirming its compliance with the regulator’s anti-money laundering (AML) requirements. Since the registration scheme came into effect in 2020, more than 50 firms have secured approval, including crypto players Ripple and Kraken, as well as traditional finance giants BlackRock and BNY. The approval comes as the UK prepares to roll out a broader crypto regulatory framework: applications for the new regime will open at the end of September, close in late February next year, and the full set of rules will take effect in October. Firms already registered under the current scheme have completed significant preparatory work for subsequent applications under the new framework.
9 minutes ago
US crypto-related stocks were broadly lower in pre-market trading, with Coinbase down 1.25% and Circle down 5.45%.
According to Bit.com (BIT) market data, most U.S. crypto-related stocks declined in pre-market trading. SharpLink (SBET) fell 1.52%, Bitmine Immersion (BMNR) dropped 2.20%, Bullish (BLSH) declined 1.33%, Circle (CRCL) fell 5.45%, Strategy (MSTR) dropped 1.23%, and Coinbase (COIN) declined 1.25%. Circle posted the largest pre-market decline among the group.
9 minutes ago
Survey: Switzerland's cryptocurrency usage rate reaches 23%, more than twice that of Germany.
Bearingpoint’s latest survey reveals that 23% of Swiss adults use cryptocurrencies at least occasionally — a rate notably higher than Austria’s 18% and Germany’s 11%. Furthermore, 37% of Swiss respondents view cryptocurrencies as worthy investments, 45% think they could become international trade or reserve currencies in the future, and 44% are willing to use central bank digital currencies (CBDCs); all these proportions exceed those of Germany and Austria. The report points out that since Switzerland enacted the DLT Act in 2021, it has developed a mature crypto ecosystem, with Crypto Valley home to 1,749 blockchain and DLT enterprises. Germany, meanwhile, plans to expand crypto asset services via traditional banking channels including DZ Bank and Dekabank to close the adoption gap with Switzerland.
9 minutes ago
Bithumb will suspend EGLD deposits and withdrawals to support the MultiversX network upgrade.
According to official announcements, to support the MultiversX (EGLD) network upgrade, Bithumb will suspend EGLD deposit and withdrawal services starting from August 6 at 18:00 KST. The upgrade is scheduled to take place at 2:00 KST on August 7, and deposit/withdrawal services will resume once the network stabilizes. Trading functions remain unaffected.
According to Hyperinsight’s monitoring data, over the past 24 hours, the open interest (OI) value of Micron (MU) on Hyperliquid decreased by approximately $39.372 million to $173 million; SK Hynix (SKHX) OI fell by about $64.124 million to $352 million. The two combined saw an OI outflow of roughly $103 million, with declines of 18.5% and 15.4% respectively. Over the same period, SanDisk (SNDK) OI rose from around $88.122 million to $120 million, an increase of $32.114 million or 36.4%, making it the only stock among the Big Three memory chip makers to record OI expansion. SNDK gained approximately 0.6% in the past 24 hours, MU rose around 0.3%, while SKHX dropped about 1.1%; SNDK outperformed MU by roughly 0.3 percentage points and SKHX by around 1.7 percentage points respectively. Position changes of large-balance addresses show: - SNDK: New positions currently lean long. Over the past 24 hours, one address added ~$2.515 million worth of SNDK longs, with no single address reducing longs by over $1 million or adding new shorts. - MU: Two addresses added a total of $3.428 million in longs, while two others cut longs by $2.587 million, resulting in a net long addition of ~$841,000; over the same period, two addresses added ~$2.858 million in new shorts, with incremental volume leaning bearish. - SKHX: No new addresses added, existing whales continue deleveraging. Million-dollar-level addresses net reduced longs by $6.811 million; shorts net decreased by $9.208 million. Top funds are leaning defensive: - MU has 14 long addresses and 18 short addresses, with long positions worth ~$46.108 million and short positions ~$66.543 million; - SKHX has 37 long addresses and 42 short addresses, with long positions worth ~$104 million and short positions ~$136 million; - SNDK has 12 long addresses and 10 short addresses, with long positions worth ~$37.441 million, still lower than short positions of $46.782 million.
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Bithumb will suspend EGLD deposits and withdrawals to support the MultiversX network upgrade.
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Former Barclays CEO Bob Diamond has named Circle and Hyperliquid as the companies best positioned to benefit if the Digital Asset Market CLARITY Act becomes law, putting the odds of that happening by the end of 2026 at somewhere between 50% and 75%.
Diamond, who serves as CEO of Atlas Merchant Capital and chairman of Hyperliquid Strategies, made the remarks on CNBC's Squawk Box on July 31, 2026. Those dual roles give him a direct stake in how the legislation ultimately takes shape.
Why Circle and Hyperliquid Stand OutCircle issues $USDC, the dollar-pegged stablecoin that has become a core piece of digital payments infrastructure. Hyperliquid recently adopted USDC as its canonical stablecoin, replacing its former native USDH. As part of that arrangement, Circle staked 500,000 HYPE tokens on the Hyperliquid network, tightening the operational link between the two firms.
Diamond's argument is that clearer federal rules around stablecoins would strengthen the infrastructure layer that both companies occupy. His mention of Hyperliquid alongside Circle on a mainstream financial television platform is notable because the decentralised exchange has largely been a crypto-native story until now, well known inside the ecosystem but largely invisible outside it. Having a former Barclays CEO name-check it on CNBC changes the audience paying attention.
Diamond also pushed back on banking industry opposition to the bill, arguing it is "really good for the banks over time." He noted that firms such as JPMorgan, Goldman Sachs, and Morgan Stanley are already investing heavily in crypto and blockchain infrastructure, and that legal certainty would only accelerate that trend.
Where the Bill StandsThe CLARITY Act passed the House in July 2025 with a 294-134 bipartisan vote. The Senate Banking Committee advanced the bill by a vote of 15 to 9 on May 14, 2026. To become law, the bill must still be reconciled with the Senate Agriculture Committee's version, pass a 60-vote Senate floor vote, be reconciled with the House-passed version, and be signed by the President.
Two sticking points remain in Senate negotiations: ethics provisions, a politically sensitive topic given broader conversations about lawmakers' personal financial interests in crypto, and stablecoin yield language, specifically how the law should treat the interest or returns generated by stablecoins.
Sources:
CNBC Squawk Box: Bob Diamond on the CLARITY Act
Latham and Watkins: US Crypto Policy Tracker
Crypto Briefing: Circle and Hyperliquid identified as CLARITY Act infrastructure winners
Hyperliquid just made it significantly harder for centralized exchanges to claim they offer superior order tooling. The Layer 1 blockchain built for decentralized trading rolled out a sweeping upgrade to its Time-Weighted Average Price (TWAP) order system, adding trigger prices, min/max price boundaries, durations up to seven days, and dynamic suborder intervals.
What changed, and why traders should care Previously, Hyperliquid’s TWAP implementation was functional but rigid. Traders were stuck with fixed 30-second suborder intervals, a maximum slippage cap of 3% per suborder, and relatively high minimum order sizes.
Trigger prices now allow TWAP orders to activate only when the mark price reaches a specified level. You can set a TWAP to start executing only if Bitcoin hits $65K, rather than having it fire immediately upon submission.
Max and min price boundaries add another layer of protection. If you’re running a buy order and the price spikes above your maximum threshold, the order terminates automatically. Same logic applies in reverse for sells.
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Duration has been extended to seven days. This went into effect on August 1, 2026, at 09:00 UTC.
Dynamic suborder intervals allow the system to calculate intervals based on the total order size and duration. The minimum interval remains 30 seconds for new orders, but the spacing can stretch longer depending on how the order is configured.
Minimum order size dropped to $100 notional, with individual suborders requiring just $10 notional.
The institutional angle Hyperliquid now supports over 300 perpetual and spot markets with sub-second finality, alongside advanced order types including both TWAP and Chase orders. The fully onchain nature of these orders means the execution logic lives on the blockchain itself, replacing trust with transparency rather than relying on a centralized exchange’s matching engine.
What this means for the competitive landscape The trigger price feature is a good example of Hyperliquid moving beyond standard CEX functionality. Many centralized exchanges offer basic TWAP functionality, but conditional activation based on mark price is less common. Pairing that with onchain transparency and self-custody creates a value proposition that’s genuinely difficult for centralized platforms to replicate.
The $100 minimum order size lowers the barrier to entry for TWAP orders beyond institutional participants. A retail trader running a seven-day TWAP on a $500 position, multiplied across thousands of users, produces a meaningful liquidity impact.
The risk, as always with onchain systems, is smart contract vulnerability. More complex order logic means more potential attack surface. That said, Hyperliquid’s track record of operating at scale with sub-second finality across hundreds of markets provides some reassurance that the infrastructure is battle-tested.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bithumb will suspend EGLD deposits and withdrawals to support the MultiversX network upgrade.
According to official announcements, to support the MultiversX (EGLD) network upgrade, Bithumb will suspend EGLD deposit and withdrawal services starting from August 6 at 18:00 KST. The upgrade is scheduled to take place at 2:00 KST on August 7, and deposit/withdrawal services will resume once the network stabilizes. Trading functions remain unaffected.
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Crypto’s leading protocols are increasingly competing on business models rather than products. Pump.fun recently generated higher daily revenue than Hyperliquid. The comparison highlights the divide between retail adoption and trading infrastructure. Recent events show derivatives platforms face operational risks beyond trading volumes. His criticism of Hyperliquid was sparked by one day’s revenue figures, but the discussion extends well beyond protocol fees. It reflects a broader shift across the industry as developers compete for two different forms of demand: consumer attention and professional trading activity.
Revenue Alone Doesn’t Decide the Better Business Sapijiju compared recent protocol revenues, saying Pump.fun generated roughly $2.9 million over 24 hours versus approximately $1 million for Hyperliquid.
He summarized the comparison with a widely shared analogy:
“What’s bigger, Bloomberg or Instagram?”
The point was not simply that Pump.fun earned more revenue on a particular day. Instead, Sapijiju argued that consumer-oriented platforms capable of attracting millions of retail users have a larger addressable market than trading infrastructure built primarily for professional participants.
Perps is such a great on-chain business! No, it's not.
Hyperliquid 24h revenue: $1M
Total revenue of all memecoin products: ~$2.9M
What's bigger, Bloomberg or Instagram?
The product with millions of users always beats the one with a few high-paying ones.
— Sapijiju (@sapijiju) July 31, 2026
Daily revenue, however, captures only one aspect of protocol performance. The sustainability of those revenues depends on how each platform acquires, retains and monetizes users across multiple market cycles.
Two Protocols, Two Very Different Businesses Although both projects rank among crypto’s highest revenue-generating applications, they solve different problems.
Pump.fun Hyperliquid Consumer-focused token launch platform Decentralized perpetual futures exchange Revenue driven by token launches and retail trading Revenue driven by derivatives activity Growth depends on viral adoption and network effects Growth depends on liquidity and active traders Benefits most during speculative retail cycles Benefits from sustained trading participation Consumer Scale Versus Financial Infrastructure Pump.fun’s model is built around accessibility. Users can create, launch and trade tokens with relatively little friction, allowing the platform to benefit from social engagement, creator incentives and speculative retail activity.
Hyperliquid operates at the opposite end of the spectrum. Its business depends on perpetual futures markets, where liquidity, leverage and execution quality determine user activity.
That specialization also introduces operational complexity that consumer applications rarely encounter.
Last week, TradeXYZ, the largest deployer of HIP-3 perpetual markets on Hyperliquid, announced it would reimburse traders after an anomalous third-party price feed from South Korea triggered widespread liquidations in its SK Hynix perpetual market.
The disruption originated from an unusual print during the opening seconds of the country’s pre-market session rather than from blockchain infrastructure itself. While TradeXYZ maintained that its oracle functioned according to its published specifications, the incident highlighted the additional challenges derivatives platforms face when integrating traditional financial assets into onchain markets.
The episode does not necessarily support Sapijiju’s claim that perpetual futures represent an inferior business model. It does, however, illustrate that exchanges operating sophisticated trading infrastructure must manage risks extending well beyond user acquisition, including oracle design, market structure and real-world data integrity.
Revenue Leadership Continues to Shift Protocol rankings have repeatedly changed as market conditions evolved.
Pump.fun has periodically overtaken Hyperliquid during waves of elevated memecoin activity, while Hyperliquid has regained leadership when derivatives volumes strengthened. Those swings reflect changing sources of demand rather than a permanent advantage for either business.
Viewed over longer periods, the comparison suggests consumer applications and trading infrastructure respond differently to the same market cycle instead of competing on identical economics.
The Bigger Question Is Long-Term Retention The discussion ultimately extends beyond protocol revenue.
Pump.fun’s thesis assumes the industry’s largest businesses will emerge from applications capable of attracting mainstream consumer participation. Hyperliquid represents a different view—that recurring activity from a smaller base of highly engaged traders can produce a more durable business over time.
Recent developments also highlight that rapid revenue growth does not eliminate operational challenges.
Pump.fun recently laid off more than 40 employees only weeks before an estimated $86 million PUMP token unlock. Co-founder Noah Tweedale said the company had “grown too quickly,” even as the protocol continued generating roughly $1 million in daily revenue. At least one former employee reportedly lost a seven-figure PUMP token allocation as part of the restructuring.
Sandmark: Pump fun Reportedly Laid Off Staff Ahead of PUMP Token Vesting
According to a report by Sandmark, Pump fun laid off employees in early April, two months before their PUMP token vesting date. At least one former employee forfeited a token allocation worth more than $1… pic.twitter.com/rZi3OaoJPm
— Wu Blockchain (@WuBlockchain) July 31, 2026
The episode underscores that protocol revenue alone is an incomplete measure of business quality. Consumer applications may scale rapidly and generate significant cash flow, but they must also demonstrate they can manage organizational growth, retain talent and sustain engagement beyond speculative market cycles. Likewise, derivatives platforms face a different set of challenges, including liquidity management, market structure and operational risk.
As crypto matures, metrics such as active users, retention, trading activity and sustained protocol revenue are likely to provide a more meaningful measure of business quality than individual daily fee comparisons. The debate between Pump.fun and Hyperliquid therefore reflects a broader question facing the industry: whether crypto’s next phase of growth will be driven by consumer platforms reaching larger audiences or by increasingly sophisticated financial infrastructure serving professional markets.
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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.
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 [HYPE] is under pressure. At the time of writing, the decentralized exchange (DEX) token was down 9.1% in a week, and almost 20% down over the past 30 days.
Some whales are now unstaking their HYPE and depositing the tokens onto centralized exchanges. According to AMBCrypto’s findings, this unstaking behavior may be getting more common among both retail and institutional investors.
With the price action leaning bearish, a descending channel can be seen on the price charts too.
On the bright side, the exchange has been expanding its revenue streams. Traders are paying priority fees to improve queue positions. This focus on execution rather than just trading volume can strengthen the long-term business model.
Even so, the shadow of institutional selling still looms over HYPE. What will the upcoming price trends look like though?
The big liquidation warning for Hyperliquid token Source: Base Case D on X Using the liquidation data of the past month for HYPE, analyst Base Case D made the argument that a liquidation cascade might be around the corner.
A big magnetic zone of long liquidations sat at $52.38. A minor drop could hit these long liquidations, forcing these positions to close, amplifying the sell pressure in the short term and possibly leading to a liquidation cascade.
This meant that a cautious-to-bearish bias may be warranted in the short-term, the analyst concluded.
Multi-timeframe analysis makes a long-term bull case for HYPE A sharp flush from liquidations tends to follow the longer-term trend thereafter. And yet, the wider market sentiment, especially for Bitcoin [BTC], has been firmly bearish lately.
Source: HYPE/USDT on TradingView The upward break above the swing high (green) hinted at a bullish swing structure continuation. The Fibonacci retracement levels plotted the potential bearish targets before the long-term uptrend can commence.
As things stand, a drop to $32-$42 would not be a surprise.
This, because the internal structure (dotted white) was beginning to turn bearish at press time.
Source: HYPE/USDT on TradingView This shift was more evident on the 4-hour chart. Though the OBV appeared to be flat, the price has been falling lower. A two-month range formation, whose low was at $53.3, has been breached too.
Hence, a deeper retracement towards $32 cannot be ruled out.
Final Summary Hyperliquid’s long-term trend was bullish, but a deep retracement may be a possibility in the coming weeks. In the near-term, a price drop below the $52-magnetic zone could trigger a wave of forced selling.
TLDR: South Korea posted a 560.3 billion won net stablecoin outflow in June, extending the trend to 18 months. Cumulative net stablecoin transfers since January 2025 reached about 14.9 trillion won, according to data. June outflows equaled 77.6% of Korean retail investors’ net purchases of foreign shares during the month. Offshore platforms attract Korean traders with derivatives, DeFi, staking, and tokenized asset products. South Korea recorded an 18th straight month of net stablecoin transfers to overseas exchanges in June, underscoring sustained demand for offshore crypto products. The five largest won-based exchanges sent 2.7625 trillion won abroad and received 2.2022 trillion won, producing a 560.3 billion won net outflow.
Although June’s total remained below several 2025 peaks, the uninterrupted direction of transfers carried greater significance than the monthly size alone. Reported figures showed monthly net outflows ranging from 459.3 billion won in July 2025 to 1.2049 trillion won in February 2025.
South Korean Stablecoins Post 18 Straight Months of Net Outflows to Overseas Exchanges
According to Yonhap News Agency, South Korea’s five major won-based crypto exchanges sent 2.7625 trillion won in stablecoins to overseas platforms in June 2026, while receiving 2.2022 trillion… pic.twitter.com/sDFsaBmDKN
— Wu Blockchain (@WuBlockchain) August 2, 2026
Across the full period beginning in January 2025, cumulative net transfers reached about 14.9 trillion won, based on the disclosed monthly totals.
Stablecoin Transfers Rival South Korea’s Overseas Stock Flows The June outflow equaled 77.6% of the 722 billion won Korean retail investors spent buying foreign shares on a net basis. During the second quarter, the contrast widened as stablecoins recorded 1.6872 trillion won in net outbound transfers.
Over the same period, Korean investors became net sellers of overseas equities, reducing their foreign stock holdings by 1.6185 trillion won. The comparison places dollar-linked tokens alongside traditional overseas investing as an important channel for moving capital beyond domestic platforms.
However, the figures measure exchange transfers rather than permanent capital flight, since tokens can later return, remain in wallets, or enter decentralized applications. Notably, access remains the central driver behind the movement, as local exchanges continue concentrating mainly on spot trading.
By contrast, offshore platforms provide perpetual futures, staking, decentralized finance, tokenized real-world assets, and leveraged products linked to Korean companies. Those products have included exposure tied to Samsung Electronics, SK Hynix, and Hyundai Motor, expanding the range of markets available abroad.
A separate study found about 47 trillion won in crypto moved abroad or into personal wallets during the first half of 2026. Tiger Research and Chainalysis also reviewed 4.5 million wallets and estimated cumulative transfers of 687.6 trillion won since 2021.
The same research estimated that overseas trading activity generated approximately 1.4 trillion won in fees.
Offshore Leverage Raises Regulatory and Investor Risks Among the main destinations, Hyperliquid offered Korean-linked perpetual contracts with leverage of up to 50 times. Moreover, SK Hynix-linked trading reportedly reached about $4 billion after the contract launched in February.
That activity shows stablecoins operating as collateral and settlement assets within global on-chain markets, rather than only as digital savings instruments. The expansion also increases exposure to liquidation losses, security breaches, and platform failures outside South Korea’s domestic regulatory system.
As a result, Bank of Korea officials have warned that wider token use could complicate capital-flow management and foreign-exchange oversight. Governor Rhee Chang-yong previously said won-backed tokens might make conversion into dollar-linked assets easier instead of reducing demand for dollars.
Meanwhile, the Financial Services Commission said in January that central provisions of second-stage digital-asset legislation remained unfinished.Those unresolved issues included the ownership structure permitted for stablecoin issuers operating under the planned framework.
Lawmaker Lee Jong-wook urged regulators to review oversight and investor safeguards as offshore transfers continue. For now, the 18-month pattern shows that investors are consistently using dollar-linked tokens to reach products unavailable on domestic exchanges.
Ondo Finance officially launched its perps DEX trading platform less than a month ago. However, it is slowly cementing its place as a top perps DEX platform, even though its price is lagging.
Because of these factors, the native token, ONDO, commands a market cap of $1.87 billion even in a bearish market. Its daily perps DEX volume has been growing alongside its Open Interest (OI), suggesting it could soon compete with established platforms.
What’s fueling Ondo’s Perps volume and OI growth? Ondo’s perps volume has doubled from the launch volume recorded on July 7. The volume rose from $128 million to over $300 million, which is equivalent to more than a 2x increase.
As a result, the cumulative Ondo perps volume hit a new high of $5.996 billion three weeks after its launch.
On July 31, it was fourth among all perp DEXs in terms of the volume of tokenized equities traded, ahead of Lighter [LIT] and AsterDEX [ASTER].
Additionally, its OI hit a new peak level of $74.77 million. This was an indication that Ondo perps DEX was becoming traders’ preferred platform.
Source: DeFiLlama Tokenized equities, indices, and commodities fueled the sharp increase in perps volume. They included instruments like Nvidia, Tesla, oil, gold, and the S&P 500 with up to 20x leverage traded 24/7.
For instance, trading of tokenized US oil on Ondo increased by 59.3% over the past 30 days. More assets, like the iShares Systematic Bond ETF, were slowly being added on to the platform.
Source: Ondo Finance As a result, these additions may help the price of ONDO stabilize and move higher. Worth noting, its price remains in a bear market structure, just like the rest of crypto.
All of Ondo’s growth was happening on the backdrop of declining perps and DEX volume for the broader crypto market.
The month of July closed as another red month for on-chain activity. As per DefiLlama, both DEX volume and Perps volume hit new yearly lows, down over 60% from their peaks in October.
In October, most of the popular perps DEXs, like Aster and Lighter, joined Hyperliquid, which was already established.
Source: DeFiLlama As Ondo’s perps volume diverged from the trend in the broader crypto market, it posed a serious threat to Aster and Lighter if growth at this speed continues. Eventually, it could challenge Hyperliquid, which has Normalized Daily Volume of $10.74 billion.
Hyperliquid’s volume is almost 6x bigger than that of Aster and Lighter at $1.85 billion and $1.35 billion. Still, it calls for consistent trading on Ondo Finance’s perps product.
Final Summary Ondo’s daily perps volume exploded to $300 million per day, with cumulative volume reaching nearly $6 billion. Ondo’s perps volume was growing while the whole crypto market was declining, suggesting that Ondo was slowly dominating the perps DEX volumes.
Eole Inc., listed on the Tokyo Stock Exchange Growth Market under ticker 2334, has become the first Japanese public company to formally hold HYPE, the native token of the Hyperliquid DeFi protocol, disclosing the purchase through Japan’s TDnet (Tokyo Stock Exchange’s official corporate disclosure system) on July 28, 2026.
The initial buy of 1,078.25469311 HYPE at an average price of ¥9,352.77 per token cost ¥10,084,663 (~$66,000), with a stated target to scale the position to ¥100 million (~$611,000) by August 31, 2026.
🚨JAPAN LISTED FIRM BUYS $HYPE!
Tokyo-listed Eole has acquired Hyperliquid’s $HYPE token, the first Japanese publicly listed company to do so.
Bought ~¥10 million (~$61k / 1,078 HYPE) on July 28. Plans to scale total purchases to ¥100 million (~$610k) by end of August.
Part of… pic.twitter.com/Uwh0PR9rSM
— Crypto Banter (@crypto_banter) July 30, 2026
The move is not a one-off treasury bet. It was filed under Eole’s previously announced change in use of funds from July 16, 2026, which expanded the company’s digital asset mandate from Bitcoin only to a broader set of assets. HYPE is the first execution under that expanded mandate.
This news dropped as HYPE sits just under $55, up +3.5% over the past 24 hours following a seven-day move that has seen the asset drop -5%. Daily trading volume sits at $404M, up from $380M yesterday.
Hyperliquid News: What Eole Is Actually Buying Into $HYPE
HTF
Looks done for a while- would let price settle below sub 50 at the daily fvg before I look for longs. Best swing shorts at current monthly NPOC into 44$
Reversal and continuation setups attached pic.twitter.com/q2WjPnrDe1
— RektProof. (@RektProof) July 30, 2026
Hyperliquid is a leading decentralized futures trading platform and also runs HyperEVM, an Ethereum-compatible environment that allows programmable smart contracts to execute on top of the same high-speed infrastructure.
Eole’s Executive Director Kensuke Amo outlined three reasons the company chose HYPE specifically. First, Hyperliquid’s architecture is positioned as core infrastructure for what Amo calls Agentic Commerce, the emerging model where AI agents autonomously handle payments and contracts without human sign-off at each step.
Unlike people, AI agents cannot hold traditional bank accounts, so they require fast, programmable on-chain rails to operate. Second, strict US regulations around DeFi access have created demand for regulated, publicly listed HYPE exposure vehicles.
This is a model already running in the US via companies such as Hyperliquid Strategies and PURR, and Eole sees itself as the Japanese equivalent.
Third, the company plans to explore staking HYPE for yield once Hyperliquid’s AQAv2 USDC yield mechanism activates for stakers in August 2026, turning a passive treasury position into a revenue-generating one.
Check Out Hyperliquid Markets on Kalshi and Claim Your FREE $25
The Neo Crypto Bank Strategy and Why the Accounting Matters Everyone counted the funding rounds and nobody counted the funerals.
So I did both. 368 neobanks tracked. https://t.co/4bKokwoT9j
— Francesco Andreoli ᵍᵐ (@francescoswiss) July 27, 2026
Eole launched its Neo Crypto Bank initiative in October 2025 with Bitcoin as the initial treasury asset. The concept frames the company not as a passive crypto holder but as a builder of on-chain financial infrastructure, integrating digital assets into its own products and services rather than parking them as speculative reserves.
HYPE will be valued at fair value each quarter, with gains and losses flowing directly into the income statement. That accounting treatment – the same framework Eole applies to its Bitcoin position, and broadly similar to how MicroStrategy handles large BTC holdings in its public reporting.
This means the asset sits on the balance sheet with full shareholder and regulatory visibility. A Japanese listed company formally accounting for a DeFi protocol token at fair value in quarterly filings is still unusual by global corporate standards.
Eole also said it may hedge price exposure through traditional financial market instruments and eventually integrate HYPE into its own product suite, according to the TDnet disclosure and Amo’s public commentary.
Japan’s corporate crypto market has been expanding beyond Bitcoin, with Japanese companies broadening altcoin treasury allocations in recent quarters. Eole’s move adds a DeFi-native token to that picture for the first time.
The contrast with peer company Quantum Solutions, which sold 1,000 ETH on July 30 for approximately $1.9M to fund AI infrastructure spending, according to Quantum’s own filing, illustrates how differently Japanese corporates are positioning their digital asset strategies heading into late 2026.
Whether other Japanese listed companies use Eole’s TDnet disclosure as a precedent for their own HYPE allocations will be the institutional adoption signal worth watching over the coming months.
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Bob Diamond has a reputation for calling institutional shifts early. The former Barclays CEO and current head of Atlas Merchant Capital used a CNBC appearance on July 31, 2026, to make a pointed prediction: the CLARITY Act is coming, and Circle and Hyperliquid will be its biggest infrastructure beneficiaries.
That is not a casual observation from a casual observer. Diamond’s firm has existing investments in digital payment infrastructure, including exposure to Circle, the company behind the USDC stablecoin.
What the CLARITY Act actually does The bipartisan CLARITY Act, formally H.R. 3633, cleared the Senate Banking Committee with a 15-9 vote. Diamond put the odds of full passage by the end of 2026 at somewhere between 50% and 75%.
The act’s most consequential provision for markets is the regulatory framework it creates around stablecoin yields, telling issuers and platforms exactly what they can and cannot do with yield-bearing stablecoins.
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Circle’s stock on the NYSE, trading under the ticker CRCL, already gave investors a preview of what the market thinks about this dynamic. Shares surged nearly 20% in early May 2026 following the announcement of CLARITY Act rule compromises.
The Hyperliquid angle is more interesting than it looks On August 1, 2026, Hyperliquid announced a partnership with Coinbase to integrate USDC as its canonical stablecoin, replacing the platform’s former native USDH.
As part of that deal, Circle staked 500,000 HYPE tokens on the Hyperliquid network. HYPE is the platform’s native token, trading around $52 with a circulating supply of approximately 220 to 252 million tokens as of early August 2026.
Diamond’s explicit mention of Hyperliquid alongside Circle on a mainstream financial television platform is notable for another reason. Hyperliquid has largely been a crypto-native story until now, well known inside the ecosystem and largely invisible outside it. Having a former Barclays CEO name-check it on CNBC changes the audience that is paying attention.
What this means for investors watching the regulatory cycle Circle sits at the center of the compliant infrastructure tier almost by definition. USDC is already the dominant stablecoin in institutional and DeFi settings where compliance matters, and a formal regulatory framework around stablecoin yields would give Circle a product expansion path that is currently legally uncertain.
Hyperliquid’s bet is that best-in-class trading performance plus regulatory-grade stablecoin rails equals a platform that institutional desks can actually use. The Coinbase partnership provides USDC’s compliance credibility. The HYPE token stake from Circle creates alignment between the two companies at the network level.
The risk here is timeline. Diamond’s 50-75% passage estimate by end of 2026 implies a real chance this bill does not make it through. There is also a competitive risk for Hyperliquid specifically: the on-chain perpetuals and spot trading space is crowded and moving fast, and USDC integration and a Circle alliance do not create a permanent moat on their own.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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The barriers to launching on-chain prediction markets just got significantly lower. Hyperliquid has activated permissionless HIP-4 contract deployments on its testnet, meaning developers can now create fully collateralized outcome contracts without waiting for a gatekeeper. According to the original report, this initial implementation directly supports prediction markets and other bounded-outcome products, with more features rolling out over time.
HIP-4 is Hyperliquid’s standard for contracts that settle within a fixed range. That makes it ideal for binary prediction questions, capped-range options, and similar instruments where the payoff cannot exceed a known amount. Because every position is fully collateralized from the start, the system sidesteps the risk of undercollateralized positions and liquidation cascades that complicate perpetuals and margin trading on other venues. The move puts Hyperliquid in a position to challenge specialized prediction market platforms while still operating on a high-performance L1 built for speed and low fees.
What HIP-4 Brings to Testnet Right now, testnet users can deploy HIP-4 markets permissionlessly. That means the protocol does not discriminate between a large team with a complex product and a single developer experimenting with a new idea. Configurable fees—a feature still in the pipeline—will eventually let market creators adjust take rates, which could shape how quickly these markets attract liquidity. The gradual introduction of additional market templates suggests the team is moving carefully, avoiding a flood of unpolished contracts that might clutter the experience before core functionality is stable.
For Hyperliquid, this is a logical expansion. The platform already runs a high-throughput order book for perpetuals and spot assets. Adding prediction and options-style contracts moves it deeper into DeFi primitives that have traditionally required separate, often less performant, layers. The fully collateralized model also aligns with the chain’s design ethos of minimizing trust assumptions. Every contract is settled on-chain without intermediaries, which can appeal to traders tired of opaque resolution processes on centralized forecast markets.
Why Permissionless Deployments Matter Permissionless contract creation changes the relationship between a protocol and its users. Instead of a curated list of markets, the network becomes a substrate where anyone can propose a question and back it with capital. That shift can accelerate the number of markets and, if managed well, distribute risk creation away from a single team. It also mirrors how automated market makers replaced order-book-only venues on Ethereum: once the infrastructure exists, usage expands beyond the imagination of the initial developers.
At the same time, on-chain tokenization of real-world assets has crossed $20 billion, as detailed in a recent weekly roundup. Prediction markets sit inside this broader narrative. When you create a contract that settles on the outcome of an event, you are effectively tokenizing a real-world state. Hyperliquid’s testnet move connects to the same drive for bringing off-chain truths on-chain in a transparent, enforceable way, though with a narrower focus on binary or range-bound events rather than full-scale asset tokenization.
Competing for Developer and User Attention Other L1s are fighting hard for developer mindshare. The latest developer activity rankings, covered this week, show Ethereum, BNB Chain, and Polygon still leading the pack by a wide margin. Hyperliquid operates in a more specialized niche, but its focus on high-speed DeFi primitives could pull in the kind of developers who used to build on centralized or semi-centralized platforms. If the tooling around HIP-4 proves intuitive and the economics attractive, testnet experimentation could translate into real mainnet usage once full functionality arrives.
While Hyperliquid works on lowering deployment barriers, other chains are pursuing institutional integrations. SUI, for instance, recently surged 18% to $1.24 on the back of an institutional staking deal and a major fintech partnership, as reported here. This contrast highlights two different strategies: one bets on permissionless market creation, the other on established institutional rails. Hyperliquid’s path is higher variance but could produce a unique market structure if prediction and options markets attract sticky liquidity pools.
What Remains Unclear Testnet launches are early signals, not guarantees. Several pieces are still missing. Configurable fees will fundamentally shape incentives—too low and market creators earn little, too high and users stay away. The team also needs to deliver more market templates and prove that the resolution mechanism works reliably at scale. Mainnet timing is not public, and the gap between testnet and production often sees competing platforms ship competing features.
There is also the question of liquidity fragmentation. If anyone can launch a prediction market, the same question could appear in ten different HIP-4 contracts with varying parameters, making it harder for traders to find deep liquidity. Protocols that have gone fully permissionless in the past—like Uniswap v4 with hooks—face a similar dynamic. Hyperliquid may need to encourage some form of curation or discovery layer, even if the deployment layer itself stays open.
The broader market will likely watch whether developers flock to the testnet and begin building products that go beyond simple binary bets. If they do, Hyperliquid could carve out a position as the go-to venue for on-chain outcome contracts. If not, the testnet launch will be another technical checkpoint in a fast-moving DeFi landscape where attention moves quickly.
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Decentralized trading protocol TradeXYZ has begun repayments to victims of the $60M liquidation event tied to AI chipmaker SK Hynix (SKHYNIX) perpetual contracts.
The flash crash, which happened on Monday, the 27th of July, 2026 (around 23:01 UTC), was triggered by an oracle pricing mishap and partly by ongoing volatility in the South Korean market. The actual losses were estimated at $17.4M in realized losses affecting over 900 user accounts.
On Wednesday, the 29th of July, the Hyperliquid HIP-3 deployer announced a reimbursement program to rebuild trust and market integrity. Additionally, it vowed to improve its pricing systems to “handle tail events.”
How will TradeXYZ repay SKHYNIX victims? As part of the payout program, TradeXYZ said it had paid out victims with claims of less than $10K based on $1,115 per SKHYNIX. But wallets claiming larger amounts will require more review for final payout by the 15th of August.
Where it exceeds 10,000 USDC, an initial 9,999 USDC has been credited. We are required to conduct enhanced due diligence for amounts in excess of 10,000 USDC.
Source: SKHYNIX/USD, TradingView As of writing, SKHYNIX traded at $1,087 after briefly slipping to $900 earlier in the week. The repayment could help reinforce trust in TradeXYZ and the broader Hyperliquid ecosystem.
However, the TradeXYZ dominance risk discussion will likely resurface again.
TradeXYZ controls 99% of HIP-3 volumes HIP-3 or perpetuals tied to commodities and stocks (RWA/tokenized assets perps) have been the key driver of Hyperliquid volumes in 2026. This week, tokenized stocks account for 65% of the overall DEX volume.
Surprisingly, crypto perps, which Hyperliquid began with, now account for less than 1% of overall HIP-3 volume.
Source: ASXN However, the massive demand for HIP-3 is dominated by a single deployer, TradeXYZ. It controls over 95% of Hyperliquid’s HIP-3 volume and Open Interest (OI).
According to analysts, the current Hyperliquid design favors big HIP-3 deployers like TradeXYZ, as smaller players like Felix were forced to close shop. According to critics, TradeXYZ’s excessive dominance poses a ‘structural risk’ to the broader ecosystem in case it’s exploited or sanctioned.
Source: ASXN For a better ecosystem balance, they called for a level-playing field to ensure HIP-3 is more decentralized to reduce the potential risk of TradeXYZ dominance.
Whether the Hyperliquid project team will accept the feedback remains to be seen. That said, the project’s HIP-4 (prediction markets and Options trading) went live on mainnet on Friday.
Final Summary TradeXYZ has begun reimbursing affected SKHYNIX traders for claims below $10K Hyperliquid’s HIP-3 now accounts for 65% of total trading volume, with TradeXYZ dominance increasingly viewed as a risk.
The tokenized asset markets reach a new milestone with a strong increase in trading volumes. Perpetual contracts backed by stocks and commodities now compete with Bitcoin-related products on Hyperliquid and Binance. This evolution illustrates a gradual diversification of trading on specialized platforms. The latest data also show that this momentum continues, driven by growing demand for continuously accessible trading instruments.
In brief Perpetual contracts on tokenized assets generated $61.7 billion in volume in one week. Tokenized stocks represent nearly 58% of trades, ahead of commodities. Hyperliquid records RWA volume higher than all its other categories of perpetual contracts combined. Early figures for the week show that RWA contracts now exceed Bitcoin perpetual contract volume. Tokenized asset perpetuals challenge Bitcoin as a new trading powerhouse Perpetual contracts backed by real-world assets (RWA) now report volume close to that of Bitcoin contracts on Hyperliquid and Binance. Data from Talos, reported by Cointelegraph, show these products quickly gaining ground, illustrating a shift in activity on the two main specialized platforms.
Here are the key figures released by Talos that illustrate the scale of this progression:
$61.7 billion cumulative volume over seven days for RWA perpetual contracts, or 99.2% of Bitcoin perpetual contract volume on Hyperliquid and Binance. 57.8% of trades involve tokenized stocks. 28.2% are linked to tokenized commodities. $36.8 billion value for real-world on-chain tokenized assets, excluding stablecoins. Tokenized stocks dominate trades, ahead of commodities. Meanwhile, platforms are gradually enriching their offerings by adding more real-world tokenized assets alongside traditional cryptocurrencies.
On Hyperliquid, RWA perpetual contracts generated $25.1 billion in volume between July 13 and 19 according to Blockworks data. This result surpasses the combined volume of all other categories of derivatives offered on the platform. This growth highlights increasing investor interest in these new financial instruments.
Hyperliquid confirms the unstoppable momentum behind tokenized perpetuals Early figures for the current week show that this trend is not slowing down. The volume of RWA perpetual contracts already reaches $37.2 billion. This amount now exceeds Bitcoin contracts by about 9%, according to the Talos dashboard.
Tokenized stocks account for $22.8 billion of this volume. Commodities follow with $9.1 billion, while indices reach $4.2 billion. ETFs contribute approximately $338 million. Forex operations, pre-IPO contracts, and other weighted assets complete the remainder of observed trades.
Jeremy Allaire, co-founder and CEO of Circle, said in an article published on X a few days ago that “this progress reflects an evolution of crypto markets.” According to him, the growth of RWA trading on Hyperliquid shows a gradual shift of activity towards tokenized assets linked to the real economy. This evolution accompanies the ongoing expansion of the offerings provided by platforms.
Markets turn their attention to the explosive potential of tokenized products At the beginning of July, Pantera Capital indicated that perpetual contracts could be established beyond cryptocurrencies. The fund highlights several features, including 24/7 trading availability, no position expiration, simplified management, and continuous price formation. These elements strengthen the interest of many players in this category of products.
Hyperliquid’s growth also attracts traditional finance attention. Jeffrey Sprecher, CEO of Intercontinental Exchange, calls on authorities to establish fair competition conditions for perpetual contracts continuously available on blockchain. He considers that current structures must not hinder the development of these new markets.
Despite this acceleration, RWA perpetual contracts still represent a limited share of all crypto derivatives. Talos estimates total futures volume at about $821.4 billion over the last seven days. The followed RWA products thus represent nearly 7.5% of this market, leaving significant room for growth.
If this momentum is confirmed in the coming weeks, perpetual contracts backed by tokenized assets could continue gaining ground against products centered on Bitcoin. The evolution of volumes on Hyperliquid and Binance will measure if this diversification sustainably joins investors’ trading habits.
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Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
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According to Ali Martinez, the asset has the potential to spike to nearly $75 in the short term.
Most leading cryptocurrencies have headed south over the past 24 hours, yet Hyperliquid’s HYPE is among the few to defy the latest red wave.
While it has risen by a mere 1.5%, one analyst assumed it might be gearing up for a staggering 40% pump in the near future.
The Necessary Condition Currently, HYPE trades at around $54.70, placing it above the lower boundary of an important channel depicted by Ali Martinez. He suggested that if the asset holds the $53 level, a move up to $75 is possible. Also speaking on the matter was Altcoin Sherpa, who claimed that HYPE’s current level is “a good spot for a bounce.”
“Expecting huge tradfi trading volumes to come over the next few days too, which helps,” the analyst added.
Some on-chain signals also suggest that the asset may post additional gains in the short term. CoinGlass’s data shows that exchange outflows have dominated over inflows in the last several days, meaning that investors have transferred their holdings from centralized platforms to self-custody solutions. This is considered a bullish factor since it reduces the immediate selling pressure.
HYPE Exchange Netflow, Source: CoinGlass The Bearish Case The number of pessimists, though, seems even more well-represented. X user Cut recently doubted HYPE’s potential, reminding of its inability to break its all-time high and wondering if its price would make a substantial decline. Ryker joined the discussion, projecting a plunge to $32 “soon.”
Cryptorphic also gave their two cents, arguing that HYPE is showing weakness after losing its long-term trendline and its price has broken below the key ascending support. They believe that if the $57-$58 range turns into resistance, the breakdown could confirm further downside, envisioning a possible crash under $30.
Meanwhile, the whales’ activity reinforces the pessimists’ outlook. Lookonchain disclosed that large investors keep selling HYPE, revealing the case of a market participant who purchased over one million tokens at an average price of $18 17 months ago and unstaked and deposited the stash into FalconX and Coinbase, perhaps with the intention to cash out.
You may also like: Trade.xyz Will Cover Losses From SK Hynix Liquidation Anomaly on Hyperliquid One Bad Price, 960 Liquidations: Inside SK Hynix Flash Crash on Hyperliquid Hyperliquid and Multicoin Push CFTC Toward One Prediction Market Rulebook The waning institutional interest adds more weight to the bearish perspective. Spot HYPE ETFs, which attracted substantial capital in June, have not appealed to pension funds, hedge funds, and other conservative investors during most days of July, with outflows significantly dwarfing inflows.
