Track market-moving stories before they get noisy

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Blockchain data tracker Whale Alert recently reported the transfer of 557,902 HYPE tokens valued at $32,898,942 within the last 24 hours.

Whale Alert reported that 557,902 HYPE worth $32,898,942 was transferred from an unknown wallet to HyperCore, the core trading infrastructure of the Hyperliquid blockchain.

HyperCore is the native financial and trading execution engine for the Hyperliquid Layer 1 blockchain, running fully on-chain spot and perpetual order books.

While details about the intent of the transaction were scant per Whale Alert's reporting, on-chain analytics platform Lookonchain reported a similar move, which might provide further details.

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Lookonchain reported that a whale received 557,902 HYPE from FalconX and deposited it into Hyperliquid for staking. Going by this, the reason why the 557,902 HYPE might have been moved to the HyperCore platform was to stake it.

This follows an increase in staking activity by whales or large holders. On July 24, Lookonchain reported a whale who staked 2.93 million HYPE worth $172 million. Within 24 hours, 19 wallets (likely belonging to the same whale) deposited 2.93 million HYPE into Hyperliquid and staked it.

Hyperliquid price actionAt the time of writing, HYPE was down 1.59% in the last 24 hours to $57.48, extending a drop since the week's start. The token is likewise down 2.13% weekly.

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HYPE's price fell for four days straight, from July 21 to July 24, as its recovery lagged, forming a series of lower highs since its July pullback from record highs.

The broader market picture tells a cautious story, with several major cryptocurrencies down over the past day.

In the last 24 hours, $244 million has been liquidated in crypto positions, with longs accounting for a larger chunk at $215 million while shorts came in at $29 million, according to CoinGlass data.

The recent drop highlights a lingering weakness across a larger portion of the altcoin market, with a few tokens posting gains.

Wall Street Money is Flowing into Ethereum ETFs and Out of Hyperliquid

HYPE, the native token of decentralized exchange protocol Hyperliquid, continued to experience downward pressure as mixed market signals and declining spot ETF inflows shaped investor sentiment this week. A critical test of technical support levels on Friday, July 24, 2026, became a focal point for market participants seeking signs of future price direction.

Price action and technical levelsAs of Friday, Hyperliquid (HYPE) traded at $58.78, registering a modest daily decline of 0.67%. Trading volume dropped by 11.26% in the last 24 hours, settling at $343.39 million. CoinMarketCap data indicated a 3% decrease in HYPE’s value over the previous week.

Market analyst Crypto Patel noted that HYPE’s current price action is reminiscent of the so-called institution pattern that preceded its last all-time high. While some traders interpreted the recent pullback as a sign of weakness, Patel argued that it likely reflects a search for market liquidity rather than a genuine reversal.

Patel observed that HYPE’s weekly chart continues to display higher highs and higher lows, suggesting an ongoing bullish structure. He described the present correction as a liquidity reset, not a shift to a long-term bearish trend.

The analyst further identified a fair value gap between $47 and $54 based on the weekly price range. A bullish order block was also observed in the $38 to $43 zone, aligning with the 0.382 and 0.5 Fibonacci retracement levels. According to Patel, buyers must defend these zones to reestablish bullish momentum and potentially aim for new highs. If the token achieves a breakout, he sees $150 as a feasible long-term price target under favorable conditions.

The technical setup carries a clear invalidation point. Patel cautioned that if HYPE closes below the 0.618 Fibonacci retracement at $34 on the weekly chart, it could trigger a broader bearish outlook and invalidate the current scenario.

Spot ETF data and trading flowsOn-chain analytics platform SoSoValue reported that the HYPE spot ETF recorded a net daily outflow of $1.02 million on July 23, reducing cumulative inflows by $299.62 million. Following this session, the ETF’s total net asset value stood at $294.15 million. No net flow was documented on July 22, maintaining cumulative funds at $300.64 million.

Additional daily net outflows occurred earlier in the week, with $698,040 withdrawn on July 21 and a notable $5.45 million outflow on July 17. The ETF’s trading flows suggested that investor appetite for HYPE may be weakening in the near term.

DateDaily Net FlowCumulative Net InflowsJuly 23$-1.02 million$299.62 millionJuly 22$0$300.64 millionJuly 21$-698,040$301.34 millionJuly 17$-5.45 million–Hyperliquid, which develops decentralized finance trading infrastructure, has seen increased attention in recent months following the introduction of its spot ETF. This product allows traditional investors to gain exposure to the HYPE token through regulated investment channels.

Mini dictionary: Spot ETF, or exchange traded fund, refers to an investment fund traded on exchanges, designed to track the price of an underlying asset. In the case of HYPE, this allows investors to invest in the token without directly purchasing or holding it.

Momentum indicators and outlookTechnical data from TradingView showed HYPE’s Relative Strength Index standing at 40.41, with its daily moving average at 44.49. Both readings kept RSI below the neutral 50 level, but above the oversold benchmark of 30, signaling a cautious mood among traders.

The Moving Average Convergence Divergence (MACD) metric also pointed to negative momentum. The MACD line registered at -1.785, lagging behind the signal line at -0.981. The histogram, measuring -0.804, confirmed the ongoing bearish trend in HYPE’s price movement for the short term.

The convergence of reduced spot ETF inflows, lower trading volume, and technical warning signals currently places HYPE at a pivotal point. Market participants are closely watching the identified support levels for cues on the token’s next move.

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

After failing to break above significant resistance levels, XRP is once again trading close to the $1 mark. The small ascending support trendline that held throughout the majority of July is now under pressure as the asset has fallen below its short-term moving averages. XRP may soon return to $1, a psychological level that has consistently drawn buyers but is growing more vulnerable after several tests, if sellers are able to disprove this support. 

Over the previous few sessions, the technical picture has gotten worse. XRP made a brief attempt to move back toward the 50-day EMA, but it was rejected almost instantly, indicating that bullish momentum is still weak. The 200-day moving average is still much higher at $1.43, indicating that the overall trend is still bearish, even though the price is currently trading below the 26-, 50-, and 100-day moving averages. The trading range is getting smaller, which is a worrying signal. 

XRP/USDT Chart by TradingViewIn order to keep prices stable, XRP has been generating lower highs while depending on a progressively rising support line. Because the dominant trend is still downward, this structure frequently resolves with a sharp breakout. Unless buyers abruptly reclaim nearby resistance around $1.11-$1.12, the likelihood favors a move to the downside. A bullish reversal is also not currently supported by volume. 

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During recent attempts at recovery, trading activity has remained comparatively low, suggesting that buyers are reluctant to commit new funds. In the meantime, before XRP could gain any significant upward momentum, each push toward resistance has drawn selling pressure. Near 48, the Relative Strength Index is in a neutral range that allows for movement in either direction. Nonetheless, declining price action and a neutral RSI typically indicate waning momentum rather than accumulation.

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Before confidence in a long-term recovery can resume, bulls would prefer to see the RSI rise back above 50 along with increased trading volume. The $1 barrier is still crucial. After multiple tests, psychological support frequently deteriorates, and XRP has already spent a number of weeks just above that level. 

Stop-loss orders may be triggered by a daily close below $1, which would hasten selling toward the next support area at $0.95. Bulls have a simple but difficult path. While maintaining the ascending support line, XRP needs to recover the moving averages that are grouped between $1.11 and $1.15. 

The asset is currently at one of its most significant technical crossroads in recent months, as the risk of losing the $1 level increases considerably in the absence of that recovery. 

Zcash's psychological thresholdAfter yet another erratic week, Zcash has returned to one of the most significant psychological price levels of its current cycle, with the asset trying to hold above $500. The privacy-focused cryptocurrency has fallen below its local highs near $580 due to recent selling pressure, but the overall technical structure is still positive, so the upcoming sessions will be crucial in determining whether the most recent decline is just a healthy correction or the start of a deeper retracement. 

ZEC/USDT Chart by TradingViewTechnically speaking, ZEC is still trading above every significant moving average. The 100-day and 200-day moving averages are significantly lower, at $460 and $408, respectively, while the 50-day EMA is situated around $476. 

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Despite recent weakness, this alignment shows that the long-term trend is still bullish. Buyers maintain the overall advantage as long as the price remains above these dynamic support levels. 

Because it now acts as both a short-term technical pivot and psychological support, the $500 area is especially significant. In order to absorb profits from traders who entered much lower, Zcash required a period of consolidation following an intense rally in May and July. 

Compared to the explosive buying that drove the previous breakout, the current decline has coincided with noticeably lower trading volume, indicating that panic selling has not yet taken hold. Additionally, momentum indicators suggest a cooling rather than a complete reversal. After previously reaching overbought conditions, the Relative Strength Index has retreated to the neutral zone around 49. With this reset, the market has more room to make a higher move without needing a lot of speculative momentum. 

The first upside target is still the recent swing high around $580 if buyers are successful in defending the $500 region. A strong move above that level could reopen the path toward the $650–$680 area, where ZEC faced significant resistance earlier this year. 

Hyperliquid's price testOne of the most significant support zones that Hyperliquid (HYPE) has tested since its explosive rally earlier this year is drawing closer. The token has retreated toward the 100-day moving average around $57, where buyers are starting to show signs of returning to the market, following a decline from recent highs above $75. A recovery toward $70 is still a plausible scenario if this level holds. 

HYPE/USDT Chart by TradingViewAlthough a large portion of HYPE's July gains have been erased by the recent correction, the overall trend has not yet broken. The 100-day moving average is serving as immediate dynamic support, and the asset is still trading comfortably above its rising 200-day moving average near $50. As a result, a technical cushion is created, which may serve as the basis for another bullish leg. Support at $57 is especially crucial because it corresponds with past breakout territory. 

After a powerful rally, markets frequently revisit previous resistance, and successful retests frequently serve as the impetus for subsequent advances. Today's candle indicates that buyers are defending the level despite ongoing selling pressure, suggesting that HYPE has so far respected this area. Momentum indicators also suggest that the correction may be getting close to exhaustion. 

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The Relative Strength Index is at its lowest point in a few weeks, falling into the low 40s. This shows that the overheated conditions observed during the June rally have essentially been reset, even though it does not necessarily indicate a reversal. In the past, once momentum cooled into this range, HYPE frequently resumed its uptrend. The short-term and medium-term moving averages, concentrated between $63 and $65, currently represent the biggest barrier for bulls. 

A clear close above those levels would probably rekindle buying interest and refocus attention on the $70 mark. After that, the next obvious target is the prior highs, which were between $75 and $76. 

Conversely, the bullish outlook would be considerably weakened if the $57 support were lost. Stronger long-term support is found at the 200-day moving average near $50, and a breakdown below the 100-day moving average could expose HYPE to a deeper correction. 

As of right now, though, the chart continues to favor a rebound over a trend reversal. HYPE is positioned on a technically important support zone, the long-term structure is still bullish, and the correction has restored momentum to healthier levels. A recovery toward $70 is very likely in the upcoming sessions if buyers continue defending this area.

Hyperliquid: Bouncing Off Support But EMAs Remain The WallHyperliquid, as measured by Hyperliquid Strategies Inc (NASDAQ:PURR), bounced 2% after tagging the $56 to $58 demand zone, a key support band being tested for the first time since the June rally. 

Crypto analyst ALTF4 noted on X that Hyperliquid’s growth has moved beyond trading volume into market structure, with roughly $194 billion in 30-day perpetual volume, $11.5 billion in open interest, and non-crypto markets including equities, FX, and commodities now trading on the same venue. 

The chart, though, requires patience. The 20-day EMA at $62.56 and 50-day EMA at $62.31 are converging just above current price, forming a dense resistance cluster that needs to flip to support before the setup carries conviction.

Key levels for HYPE: $56 to $58 — Demand zone support; losing this exposes $52 $62.31 to $62.56 — EMA cluster, the resistance wall to reclaim $76 — Chart projection target on a confirmed EMA reclaim Uniswap: Cup and Handle Breakout with Supertrend ConfirmationUniswap (CRYPTO: UNI) surges to $3.8, completing a textbook cup and handle breakout. The cup formed from May through June, the handle consolidated through early July, and price has now cleared the breakout level with conviction. 

The Supertrend indicator flipped green at $3.23, adding trend confirmation to the pattern.

Price now sits above all four major EMAs and is challenging the 200-day EMA at $3.9 as the final overhead barrier before open air. The cup and handle measured move targets $4.80 to $5 on continuation.

Key levels for UNI: $3.9 — 200-day EMA, last resistance before the measured move opens $4 — Psychological resistance above $3.54 — 20-day EMA support on any retest; holding here keeps the breakout valid $3.23 — Supertrend level, the line that invalidates the setup on a close below Monero: The Cleanest Breakout Setup In The Market Right NowMonero (CRYPTO: XMR) pushes to $357.28, pressing directly into the descending trendline that has capped every rally since late January. 

Bollinger Bands are squeezing tight with price coiling at the upper band at $358.63, a classic compression pattern before a directional expansion.

All four EMAs are clustering between $333 and $354, essentially flat, confirming the squeeze is real. 

A daily close above $360 clears the descending trendline and triggers the Bollinger expansion, with a breakout target of $400 to $420. Rejection here sends the price back to $333.

Key levels for XMR: $358.63 — Bollinger upper band and descending trendline confluence, the breakout line $333 — Bollinger midband support on rejection $400 to $420 — measured move target on confirmed breakout Image Source: Shutterstock

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In brief Real-world assets (RWAs)—tokenized versions of traditional financial instruments like company stocks, crude oil, and market indices traded as blockchain contracts—accounted for 54% of Hyperliquid's weekly trading volume during July 13–19, the first time non-crypto assets have dominated the exchange. ARK Invest's director of digital assets research Lorenzo Valente said Hyperliquid's $26 billion in RWA trading last week surpassed the combined crypto perpetual volume of every other decentralized exchange on earth. South Korean chipmaker SK Hynix—a direct rival to Samsung in AI memory production—drove most of the interest on Hyperliquid's third-party market platform. For the first time, traders on Hyperliquid moved more money through stocks and commodities than through crypto. Lorenzo Valente, director of digital assets research at ARK Invest, announced the milestone Thursday on X: "We are entering a new era for DeFi." Hyperliquid, he said, had for the first time generated more trading volume from so-called real-world assets, or RWAs, than from crypto in a single week.

RWAs—meaning tokenized versions of traditional financial instruments like company shares, crude oil, or the S&P 500, converted into blockchain-based contracts that traders can buy and sell around the clock—totaled $25.1 billion during July 13–19, or 52% of Hyperliquid's $48.2 billion in weekly volume, per Blockworks data. Valente put the latest running figure at $26 billion and 54%.

The context makes that number land harder. Total perpetual DEX volume across the industry last week was $79 billion. Hyperliquid processed $50 billion of it. The $26 billion in RWA trading alone—just the stock bets, the oil contracts, the index plays—was larger than the combined crypto perpetual volume of every other decentralized exchange on the market.

How stocks ended up on a crypto exchangeThe mechanism behind this is HIP-3, a framework Hyperliquid launched in October 2025 that lets outside teams build their own perpetual markets—contracts that track an asset's price with no expiry date, letting traders bet on it going up or down with borrowed money—using Hyperliquid's existing infrastructure. Builders stake 500,000 HYPE tokens, currently worth roughly $30 million, to access the system.

We are entering a new era for DeFi.

For the first time ever, @HyperliquidX generated more volume from RWAs than crypto in a single week. RWAs accounted for 54% of total trading volume.

An even more interesting trend: since June, single stocks have overtaken indices and… pic.twitter.com/INbfCwc5pJ

— Lorenzo Valente (@LorenzoARK) July 23, 2026

Since June, individual stocks have overtaken indices and commodities inside HIP-3, with single-stock perpetuals now making up 61% of all RWA trading. The HIP-3 platform has already hosted pre-IPO markets for SpaceX, Anthropic, and OpenAI. "RWAs accounted for 54% of total trading volume," Valente noted.

The most-traded stock is SK Hynix, the South Korean memory chipmaker that competes with Samsung in supplying DRAM and high-bandwidth memory for AI systems.

ARK's interest in Hyperliquid goes back further. In September 2025, CEO Cathie Wood told the Master Investor podcast that the platform "reminds me of Solana in the earlier days," adding that Solana had proven its worth and earned its place with the biggest names in crypto. She called Hyperliquid "the new kid on the block," and ARK has not confirmed any position since.

Now one of ARK's own analysts is raising a harder question for the whole industry. "I'm no longer convinced RWA trading will naturally aggregate on the same venue as crypto," Valente wrote, predicting that dedicated category leaders may emerge within RWA—and that a platform's grip on Bitcoin and Ethereum flow may prove "far less important than many people assume."

Traders still focused only on crypto tokens, he added, "are focusing on the wrong market."

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Perpetual decentralized exchange (DEX) Hyperliquid’s weekly trading volume in tokenized real-world assets (RWAs) exceeded that of all other asset categories combined for the first time.

RWAs generated $25.1 billion in trading volume from July 13 to July 19, accounting for 52% of Hyperliquid’s total weekly volume of $48.2 billion, according to Blockworks data.

“Hyperliquid’s RWA market alone was larger than the combined crypto perpetual volume of every other DEX,” wrote ARK Invest’s research director for digital assets, Lorenzo Valente, in a Thursday X post.

The milestone reflects growing demand for tokenized assets on Hyperliquid. Over the past month, RWA holders grew by 32% to 1.25 million users, while the total value of tokenized RWAs rose by 3.5% to $36.7 billion, according to data aggregator RWA.xyz.

Hyperliquid generated $7.6 million in revenue over the past week, according to DefiLlama. The perp DEX ranked third among crypto applications by weekly revenue, behind stablecoin issuers Tether and Circle, which generated $112 million and $45 million, respectively.

Hyperliquid: Perpetual Futures Volume, 2-year chart. Source: Blockworks

Major “structural shift” for crypto markets: Circle co-founderCrypto-native firms and traditional financial institutions have expanded tokenized asset offerings as they bring more financial assets onto blockchain networks. In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement.

Circle co-founder and CEO Jeremy Allaire said growing RWA trading on Hyperliquid marks a “major structural shift” in crypto markets, moving “away from speculating on endogenous digital commodities,” in a Friday X post.

Earlier in July, Pantera Capital said perpetual futures could become a dominant trading instrument beyond crypto, as perps offer structural advantages over traditional derivatives, including 24/7 trading, no contract expiries, simpler position management and continuous price discovery.

Hyperliquid’s growth has drawn attention from Wall Street institutions, including NYSE parent Intercontinental Exchange (ICE), whose CEO, Jeffrey Sprecher, urged regulators to create a “level playing field” for launching 24/7 onchain perpetual futures contracts.

Magazine: How Hong Kong is turning tokenized bonds into real market infrastructure

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Hyperliquid ekosisteminin yerel tokeni HYPE, son 24 saatte yaşadığı değer kaybına rağmen yatırımcıların radarında kalmaya devam ediyor. Yazının hazırlandığı sırada HYPE yaklaşık 57,88 dolar seviyesinde işlem görürken, işlem hacmi 320,77 milyon dolar, piyasa değeri ise 14,62 milyar dolar olarak kaydedildi. Analistler, kısa vadeli düzeltme riskinin sürdüğünü belirtirken, kritik destek bölgesinin korunması halinde fiyatın yeniden güçlü bir yükseliş trendine girebileceğini ifade ediyor.

Teknik Görünümde Destek Bölgesi Kritik Önem Taşıyor Kripto para analisti Wick, HYPE fiyatının güçlü yükselişin ardından önemli bir direnç bölgesine ulaştığını ve mevcut görünümün geçmiş piyasa döngüleriyle benzerlik taşıdığını belirtiyor. Analiste göre grafikte oluşan A-B-C formasyonu, yükseliş, düzeltme ve yeniden toparlanma süreçlerinden oluşan klasik bir teknik yapı sergiliyor. Bu nedenle yaşanabilecek olası geri çekilmelerde 72 ile 100 dolar aralığı güçlü bir talep bölgesi olarak öne çıkıyor. Bu destek bölgesinin korunması, uzun vadeli yükseliş trendinin devam etmesi açısından kritik önem taşıyor.

İlginizi Çekebilir: Altın 4 Bin Dolar Direncinde!: Gözler Fed Faiz Kararında!

Wick’e göre HYPE, kritik destek alanı üzerinde kalmayı başarırsa yeni alım dalgası başlayabilir. Bu senaryoda fiyatın yeniden ivme kazanarak ilk etapta 120 dolar, ardından ise 150 dolar seviyelerine doğru hareket edebileceği değerlendiriliyor. Özellikle yatırımcı ilgisinin destek bölgesinde artması, yukarı yönlü hareketi hızlandırabilecek en önemli faktörlerden biri olarak görülüyor. Buna karşılık destek seviyesinin kaybedilmesi durumunda teknik görünüm önemli ölçüde zayıflayabilir.

72 Doların Altında Risk Artıyor Analistler, 72 dolar seviyesinin altında gerçekleşecek kalıcı fiyatlamaların daha derin bir düzeltmenin önünü açabileceğini belirtiyor. Bu durumda HYPE fiyatının yaklaşık 40 dolar seviyesinde bulunan uzun vadeli birikim bölgesine kadar geri çekilme ihtimali bulunuyor. Fiyat tarafındaki dalgalanmaya rağmen Hyperliquid ekosisteminde geliştirme faaliyetleri hız kesmeden sürüyor. PerpGame tarafından paylaşılan bilgilere göre, sürekli vadeli işlem (perpetual futures) sepetlerini temel alan yapay zeka ajan tokenleri artık HYPER EVM ağı üzerinde kullanılabiliyor.

Bu yeni ürünler sayesinde yatırımcılar:

Yapay zeka temalı token sepetlerine erişebiliyor. Sürekli vadeli işlem altyapısından faydalanabiliyor. Daha geniş portföy çeşitlendirme imkânı elde edebiliyor. HYPER EVM tabanlı DeFi uygulamalarını kullanabiliyor. Bu gelişmenin Hyperliquid ekosistemine yeni kullanıcı ve sermaye çekmesi bekleniyor.

HYPE İçin Gözler Hem Grafikte Hem Ekosistemde Uzmanlara göre HYPE fiyatının önümüzdeki dönemdeki performansı yalnızca teknik seviyelere bağlı olmayacak. Bir yandan yatırımcılar 72-100 dolar destek bölgesini yakından takip ederken, diğer yandan HYPER EVM üzerinde geliştirilen yeni ürünler ve ekosisteme giriş yapan sermaye de fiyat üzerinde belirleyici rol oynayabilir. Özellikle yapay zeka odaklı finansal ürünlerin yaygınlaşması, Hyperliquid ekosisteminin uzun vadeli büyümesini destekleyebilecek önemli gelişmeler arasında gösteriliyor. Önümüzdeki süreçte hem teknik seviyeler hem de ağ üzerindeki gelişmeler, HYPE’ın fiyat performansında belirleyici olmaya devam edecek.

Son Dakika kripto para haberleri için hemen tıkla.

Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.

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Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.

The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.

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9 minutes ago

Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.

According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.

9 minutes ago

The native token of Hyperliquid, HYPE, remains under the spotlight as its price structure signals continued bullish momentum, even amid short-term volatility. Observers have stated that a major support level could determine whether buyers sustain the rally or if the token will correct lower in the near term. Meanwhile, Hyperliquid’s ecosystem is expanding through the launch of new artificial intelligence (AI)-focused decentralized investment offerings via HYPER EVM.

HYPE technical outlook and support levelsAt press time, HYPE is trading at $57.88. The token registered a 24-hour trading volume of $320.77 million and boasts a market capitalization of $14.62 billion. Despite a 2.33% decline on the day, the price structure has shown resilience, suggesting that bullish continuation is still possible if support levels hold.

Technical analyst Wick assessed that HYPE surged from below $50, reaching the $160 resistance zone. However, this move has placed the token at a local peak, a level where profit-taking and corrective selling could emerge. Wick drew parallels to two earlier market moves and identified a likely demand region between $72 and $100, forming part of a recurring rally-correction-recovery pattern seen before.

Wick highlighted that if buyers defend the $72 to $100 support, HYPE could attract new demand and resume gains aiming for targets between $120 and $150.

Below this support, a breakdown could trigger a deeper correction, with the next significant accumulation area identified around $40.

Support LevelUpside TargetDownside Risk$72-$100$120-$150$40Analysts have noted that the overall direction of the token is currently influenced by the broader cryptocurrency market, which has seen downward pressure as Bitcoin begins to retreat.

Ecosystem growth: New AI investment productsBeyond price movements, the Hyperliquid platform continues to innovate. New decentralized investment products focused on artificial intelligence have recently been deployed through HYPER EVM. This blockchain-based protocol now supports “AI agent tokens,” which are backed by baskets of perpetual futures contracts.

These AI agent tokens give users exposure to select AI-driven cryptocurrencies, diversifying investor portfolios and increasing capital efficiency within the DeFi sector. Market data from PerpGame indicated that these products aim to expand user participation and broaden the platform’s reach.

Participants are now able to engage with AI agent tokens collateralized by baskets of perpetual contracts, gaining structured exposure to this emerging asset class.

Mini dictionary: HYPER EVM is a blockchain environment within the Hyperliquid platform that enables smart contracts and supports the launch of decentralized applications, including AI-based investment products.

Market context and outlookDespite active network development and positive expansion in decentralized finance, HYPE has faced additional downward pressure following a general downturn in the crypto market. Bitcoin’s recent slide has contributed to the cautious sentiment surrounding emerging tokens, including HYPE.

The broader market environment is adding volatility to HYPE’s outlook, and its near-term path will depend on whether traders can defend critical support levels and ride the next wave of buying momentum.

Traders are watching closely to see if HYPE can build on its technical structure and ecosystem growth, or if the correction will deepen toward the next accumulation region.

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

Key Takeaways Major institutional players including Multicoin Capital, Selini Capital, and Galaxy Digital have initiated withdrawals totaling approximately $150M in HYPE tokens The token experienced an 8% decline, touching $58 before finding support at $59.19 Pending withdrawals represent nearly 2x the token’s daily spot trading volume of $72.8M Selini Capital’s withdrawal appears connected to the termination of a HIP-3 perpetuals market operated by DreamCash Multicoin’s managing partner Tushar Jain publicly stated the unstaked tokens aren’t intended for immediate sale; withdrawal completion scheduled for July 28 The HYPE token from Hyperliquid experienced a sharp 8% correction from its recent peak this Wednesday following news that three prominent cryptocurrency investment funds have initiated withdrawal processes for approximately $150 million worth of tokens.

Hyperliquid (HYPE) Price The breakdown shows Multicoin Capital controlling $138.78 million in staked HYPE tokens, with approximately $116 million currently pending withdrawal from the staking protocol. Meanwhile, Selini Capital has queued $4.4 million and Galaxy Digital has initiated a $29.4 million HYPE withdrawal request.

On-chain tracking also revealed that a cryptocurrency wallet associated with Multicoin transferred approximately 167,000 HYPE tokens—valued around $11.2 million—to the Coinbase exchange. HYPE’s price momentarily dipped to $57.39 before stabilizing at $59.19, per CoinGecko data. The 24-hour trading activity exceeded $415 million.

Multicoin-linked wallet moves 490K $HYPE (~$29.48M) in 2 days

A wallet likely belonging to Multicoin Capital just moved 93K $HYPE (~$5.48M) to fresh wallets.

New addresses:
• 0xFA2173AD69De51769d75934AcBCF5C2382B1B7F1
• 0x257F1352204A01f59abC5bc60384Bf4c1e5f8B70

This follows… pic.twitter.com/InfWQIXYFF

— Onchain Lens (@OnchainLens) July 23, 2026

Massive Withdrawal Queue Creates Market Imbalance The sheer magnitude of the $150 million withdrawal request represents almost twice the daily spot market activity for HYPE. Data from Block Liquidity indicates that spot market volume reached only $72.8 million during approximately 28 hours preceding Wednesday’s movements. Market participants included 1,463 distinct buyers versus 982 sellers. Wintermute emerged as the dominant net buyer with purchases exceeding $9 million, while the top net seller disposed of $5.2 million worth of tokens.

Over the trailing seven-day period, HYPE has declined approximately 11%, marking it as the weakest performer within the top 10 cryptocurrencies by market capitalization during this timeframe. ETF monitoring platform CoinGlass registered zero inflows on Wednesday, following Tuesday’s $0.7 million outflow. The token’s Futures Open Interest currently stands at $2.5 billion, reflecting a modest 0.5% decrease over 24 hours.

Technical analyst CryptosBatman highlighted on X that HYPE has breached its 50-day moving average following a six-month sustained rally above this threshold. The analyst identified a developing bearish continuation pattern and projected a subsequent price target of $55, derived from the 1.618 Fibonacci extension level—a price point that coincides with an important support zone.

After a 6-month rally above the 50-day MA, $HYPE has broken down from it.

Not just a usual breakdown, but a bearish continuation has formed as well.

The next target based on the 1.618 Fibonacci extension is $55, right at a support level. pic.twitter.com/mhDl4htYSo

— BATMAN ⚡ (@CryptosBatman) July 23, 2026

Understanding the Institutional Exit Strategy Selini Capital’s withdrawal decision appears directly linked to the closure of DreamCash’s HIP-3 CASH perpetuals market. The protocol architecture requires market operators to stake 500,000 HYPE tokens as collateral, which gets returned upon market termination. Market intelligence suggests Selini Capital may liquidate its HYPE holdings through over-the-counter trading desks.

The rationale behind Multicoin’s substantial unstaking remains more ambiguous. The venture firm recently spearheaded a $1.75 million seed funding round for Trasia, an Asian-focused trading infrastructure planning to introduce perpetual contracts for Asian equity markets on the Hyperliquid platform. Managing partner Tushar Jain clarified on X that the unstaked HYPE tokens weren’t earmarked for immediate liquidation.

The critical July 28 unlock deadline will provide definitive answers regarding the ultimate destination of these substantial token positions.

Currently, HYPE trades beneath its 50-day exponential moving average positioned at $62.52. For bullish momentum to return, the token must recapture the $60.72 level and cross back above the 50-day EMA to improve near-term technical sentiment. The Relative Strength Index hovers around 40 while the MACD indicator persists below the zero line, both technical signals suggesting ongoing bearish pressure.

The 200-day EMA at $50.77 continues to hold as a critical long-term support threshold.

Three major cryptocurrency investment firms have initiated the withdrawal of approximately $150 million in HYPE tokens from Hyperliquid, prompting an 8% decline in the token’s value and raising questions about market stability as institutional positions unwind.

Major holders move to withdrawHyperliquid, a decentralized exchange known for its derivatives marketplace, saw pronounced activity from key institutional stakeholders including Multicoin Capital, Selini Capital, and Galaxy Digital. Multicoin Capital, a prominent venture firm with significant influence in the digital asset sector, currently controls $138.78 million in staked HYPE tokens and has set in motion the withdrawal of about $116 million from the staking protocol.

Meanwhile, Selini Capital and Galaxy Digital have also joined the exodus, lining up withdrawals of $4.4 million and $29.4 million respectively. On-chain data showed a wallet linked to Multicoin sending around 167,000 HYPE (valued at approximately $11.2 million) to the Coinbase exchange, suggesting possible preparations for a major transaction.

As the news circulated, HYPE’s price tumbled briefly to $57.39 before recovering to $59.19. Over the past 24 hours, trading activity for HYPE surpassed $415 million. However, the amount of pending withdrawals nearly doubles the daily spot trading volume, which stood at $72.8 million within the latest 28-hour window.

FundPending HYPE WithdrawalMulticoin Capital$116 millionGalaxy Digital$29.4 millionSelini Capital$4.4 millionBlock Liquidity recorded 1,463 buyers against 982 sellers during this period, with market maker Wintermute accumulating more than $9 million in net buys. The top net seller offloaded tokens valued at $5.2 million.

Market reaction and trading metricsHYPE has lost roughly 11% over the preceding seven days, underperforming other top ten digital assets by market capitalization in the same period. Data from CoinGlass revealed no inflow into HYPE ETF instruments on Wednesday, following a modest outflow of $0.7 million on Tuesday. Futures Open Interest stands at $2.5 billion, registering a 0.5% decrease in 24 hours.

Technical analyst CryptosBatman identified a key technical shift as HYPE slipped below its 50-day moving average after maintaining strength above this level for six months. The analyst forecast a correction towards $55, which aligns with the 1.618 Fibonacci extension, suggesting a crucial support target as selling pressure mounts.

Markets have observed HYPE break down from its 50-day moving average, forming a bearish continuation pattern. Projections indicate that $55 is the next notable price level to watch, as it coincides with key technical support.

Institutional withdrawal motivationsSelini Capital’s move to withdraw tokens has been connected to the shutdown of DreamCash’s HIP-3 CASH perpetuals market. The protocol’s design mandates that market operators stake 500,000 HYPE tokens as collateral, which are reclaimed when the market closes. Observers believe Selini may offload these tokens using over-the-counter channels.

Multicoin Capital’s unstaking is somewhat less transparent. The firm recently led a $1.75 million seed round for Trasia, an infrastructure project aiming to introduce perpetual contracts for Asian equities on the Hyperliquid platform. Tushar Jain, Multicoin’s managing partner, clarified on X that the tokens being unstaked are not intended for immediate sale, and the withdrawal process will complete on July 28.

Although significant amounts are being withdrawn, these tokens are not planned for immediate sale on the open market, according to Multicoin Capital’s leadership.

The final disposition of these tokens will become clearer after the unlock date. Until then, the market faces continued speculation about potential selling pressure and sentiment shifts.

Technically, HYPE now trades below its 50-day exponential moving average at $62.52. For a bullish reversal, the token must regain levels above $60.72 and reclaim the 50-day EMA to reestablish upward momentum. The Relative Strength Index is hovering near 40, while the MACD indicator remains below zero—both factors indicate persistent bearish sentiment. The 200-day EMA, currently at $50.77, continues to serve as a crucial long-term support.

Mini dictionary: Hyperliquid, a decentralized derivatives exchange, allows users to trade perpetual contracts and offers staking mechanisms for native tokens such as HYPE. Institutional staking refers to large-scale holders securing blockchain networks or supporting market operations while earning rewards.

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

Matt Hougan, Chief Investment Officer at Bitwise, expects the upcoming cryptocurrency bull market to be spearheaded by platforms generating real revenue and by deeper integration with traditional finance, rather than solely by speculation. Hougan outlined his views in a recent market analysis, drawing attention to two platforms he believes are pivotal: Hyperliquid and Robinhood.

Hyperliquid expands beyond crypto derivativesHyperliquid, which initially operated as a cryptocurrency derivatives exchange, has evolved into a multifunctional Layer 1 blockchain platform. According to recent data, roughly half of Hyperliquid’s current trading activity now includes exposure to traditional assets such as oil futures, silver, and the S&P 500, marking a significant expansion from digital assets to legacy markets.

In June, Hyperliquid surpassed $1 billion in cumulative revenue and is predicting annual earnings of $800 million for 2026. The platform’s protocol is structured to use 99% of these revenues for HYPE token buybacks, a strategy that has introduced deflationary pressures and strong support for the token’s price.

This mechanism appears to be effective: the value of HYPE has increased by about 146% in 2026, far outpacing many other digital assets during the same period.

Hougan also identified other protocols—namely Uniswap, Aave, and Morpho—as adopting similar models for sharing revenue with token holders.

Mini dictionary: Hyperliquid is a blockchain-based platform that started as a derivatives exchange and has transitioned to a Layer 1 blockchain supporting a range of asset classes, including both digital and traditional financial instruments.

PlatformRevenue Model2026 Revenue/ProjectionKey FeatureHyperliquidToken buybacks$800 million (projected)TradFi and crypto assetsUniswapFee distributionNot specifiedDecentralized exchangeAaveProtocol feesNot specifiedLending platformMorphoYield enhancementNot specifiedDeFi optimizationRobinhood Chain opens global access to tokenized tradingRobinhood, a commission-free trading platform known for popularizing equity trading among retail investors, launched its proprietary Layer 2 blockchain, Robinhood Chain, on July 1. The network supports 24/7 access to tokenized equities and is available to users in 120 countries, bringing traditional stocks to the blockchain sector.

In just 14 days, Robinhood Chain has attracted more than $300 million in user deposits and processed an average of 3.6 million transactions daily. The new blockchain integrates with decentralized finance applications including Uniswap and Morpho, broadening its utility for users.

Although early user activity has largely centered on meme coin trading rather than tokenized equities, Hougan suggested that trading in equities is likely to grow as adoption widens.

Mini dictionary: Robinhood is an American financial services company that provides commission-free trading of stocks, exchange-traded funds, and cryptocurrencies, now expanding into blockchain infrastructure with Robinhood Chain.

Bitcoin sees renewed demand amid institutional interestBeyond these two platforms, Hougan called attention to major institutions such as Coinbase and BlackRock, as well as financial giants including Visa, Stripe, and JPMorgan, who are also increasing their activity within blockchain and digital assets.

Bitcoin has recorded a 9% price rise through July, contrasting with a 6% fall in the Nasdaq-100 over the same period. Hougan interprets this outperformance as a sign of improving sentiment for digital assets.

A key demand indicator for Bitcoin—measuring the difference between newly mined coins and coins held dormant for over a year—is also improving. Andre Dragosch, Bitwise’s European research lead, described this trend as “re-accelerating.”

Recent data shows that fund inflows into Bitcoin exchange-traded funds have turned positive after a period of withdrawals, suggesting renewed interest from professional investors.

Hougan remains optimistic about the sector, projecting that the next bull market will be broad enough to benefit much of the industry, including Bitcoin, Ethereum, and Solana.

Still, he cautioned that closer integration with traditional finance brings additional risks—such as heightened exposure to overall economic trends and shifting regulatory requirements.

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

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

Ethereum (ETH) Ethereum moved higher by 3% this week as buyers gained control of the price action since late June. This relief rally started once the support at $1,500 was tested and held.

At the time of this post, ETH is facing some resistance as the price approaches the key psychological level at $2,000. It is likely to bring back sellers and could send the price into a pullback.

Looking ahead, the cryptocurrency remains in a macro downtrend. While this rally is a positive change, sustaining it beyond $2,000 seems a big ask right now. Only if $2,000 turns into support does ETH have a good shot at breaking the prevailing downtrend.

Source: TradingView Ripple (XRP) XRP also managed to book a 3% gain this week as buyers have kept the price well above the key support at $1. The current resistance is at $1.2, and until it is broken, it is unlikely this cryptocurrency can make sustained gains.

With volume declining steadily month-over-month, XRP currently lacks the momentum for a major breakout. Market participants seem to have retreated since the drop in February and have not returned to date.

Looking ahead, the current consolidation above $1 is a positive development. However, it can equally be a pause taken by sellers before they attempt another go at the key support.

Source: TradingView Cardano (ADA) ADA had a positive week, closing 6% higher. This comes after the price made a head and shoulders reversal pattern with the key support around $0.15. As long as that level holds, buyers have the advantage.

Nevertheless, Cardano still has to make clear higher lows and higher highs before we can be confident in a reversal and end to the current macro downtrend. For that to happen, the price will have to move beyond $0.25.

Looking ahead, the weekly momentum indicators such as the MACD are giving a bullish bias. This is a promising sign that sellers could be exhausted here, which may allow buyers to take back control for a longer period.

Source: TradingView Binance Coin (BNB) Binance Coin looks weak throughout the past seven days and made no gains. The price still needs to break the resistance at $580, which has kept buyers in check over the past month. Without a clear breakout, BNB is forced to move sideways or even seek lower levels to find buyers.

The price also saw decreased volatility and volume. This could also be related to the recent regulatory changes that forced EU users to find a new exchange. That is bearish for the BNB price as it lowers demand for the token.

Looking ahead, this cryptocurrency is found in a downtrend with no signs that this will end any time soon. As such, watch the support at $500, which could be tested in the future before buyers return.

Source: TradingView Hype (HYPE) Surprisingly, HYPE was flat this week and lost 5% of its valuation in the past month. This highlights that the uptrend may be over. The price is also under $60 at the time of this post, which is concerning since it may encourage sellers to push even lower.

If this cryptocurrency loses its macro uptrend, then a larger and more significant correction could follow. Right now, the longer the price sits under $60, the higher the chance that HYPE will fall much lower. Key support levels are found at $56 and $52.

Looking ahead, HYPE had a fantastic rally in the first half of 2026, and it seems the second part of the year could end up in a major correction. That may see HYPE revisit previous levels under $50. If so, this can also be a key buying opportunity.

Source: TradingView Tags:

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New U.S. tariff policies, coupled with the worsening situation in Iran, have pushed up international oil prices, while tech stock pullbacks have weighed on U.S. stock indexes, dragging them lower.

At 12:01 a.m. ET on Friday (12:00 p.m. Beijing time on the 24th), the U.S. will roll out a new set of import tariff arrangements, with rates ranging from 10% to 12.5%, covering approximately 60 economies. Separately, Trump said he is "seriously considering" resuming large-scale military operations against Iran and is nearing a decision. "Iran wants negotiations, but it is not ready yet; it has not suffered enough pain," he stated. The U.S. will hold Iran responsible if Houthi forces attack ships again, and has deployed B-1 bombers, escalating tensions with Iran. According to market data from BIT (bit.com), U.S. stocks closed lower on Thursday: the Dow Jones Industrial Average fell 0.97%, the S&P 500 dropped 1.2%, and the Nasdaq slid 2.15%. Micron Technology (MU.O) rose 3%, SK Hynix (SKHY.O) gained 2.5%, Google (GOOG.O) plunged 7%, Tesla (TSLA.O) slumped 14.5%, and SpaceX (SPCX.O) climbed more than 2%. According to HTX market data, Bitcoin is currently trading at $65,190, down 1.05% in the past 24 hours. International oil prices rose sharply on the 23rd. As of the close of trading that day, September-delivery light crude oil futures on the New York Mercantile Exchange rose $5.36 to settle at $92.19 per barrel, a 6.17% increase; September-delivery Brent crude oil futures in London gained $6.62, marking their first close above $100 per barrel since May, settling at $100.69 per barrel, a 7.04% rise.

2 minutes ago

South Korea plans to bring forward the increase in minimum cash margin requirements for single-stock leveraged ETFs.

South Korea’s financial regulators are studying a plan to bring forward the implementation of the minimum margin requirement hike for single-stock leveraged ETFs—originally scheduled to take effect next month—to the end of this month. The move is seen as a response to South Korean President Lee Jae-myung’s call for the rapid rollout of supplementary measures for single-stock leveraged ETFs. The Korea Financial Investment Association (KOFIA) held a working-level meeting on the 21st with IT staff from securities firms, South Korean trading platforms, and related institutions including Korea Securities Computing Corp. (Koscom) to discuss the implementation of the single-stock leveraged ETF framework. It is understood that financial regulators are considering pushing the minimum margin hike plan, initially set for early next month, to the end of this month. However, the regulators will make the final decision on the specific implementation timeline and applicable rules.

2 minutes ago

Intel's CFO: Intel plans to significantly increase capital expenditure in 2027.

Intel (INTC.O) Chief Financial Officer stated that Intel plans to significantly increase its capital expenditure in 2027.

2 minutes ago

AMD officially launches rack-mounted AI system Helios, set to begin shipping soon.

The AMD Advancing AI Conference was held in San Francisco from July 22 to 23. At the event, AMD CEO Lisa Su announced that Helios has entered full production and will begin shipping soon. OpenAI’s Head of Infrastructure stated that the company plans to deploy AMD Helios at scale, and OpenAI will collaborate with AMD to develop the MI500 series AI chips and their subsequent products. Additionally, Su said AMD is partnering with chip design firm Cerebras to deliver high-speed inference capabilities via Cerebras’ cloud services. The joint product of AMD and Cerebras will hit the market later this year. The AMD-Cerebras system will launch an AI inference solution combining AMD Helios GPU server racks and Cerebras’ wafer-scale chips. CNBC analysis points out that a year ago, Su projected the 2028 AI accelerator market would reach $500 billion. The latest forecast puts the market size at the end of this decade roughly equivalent to the current entire semiconductor market. Su noted that GPUs will account for the majority of this share.

2 minutes ago

Trump: To use Iranian funds to compensate for ship and cargo losses

US President Trump stated, "Until further notice, effective immediately, all and any damages caused to vessels, cargo, or any related items shall be compensated using Iranian funds currently held and controlled by the United States. Although such compensation amounts may be substantial, this remains a fair and reasonable approach."

2 minutes ago

The United States has imposed additional tariffs ranging from 10% to 12.5% on 60 economies, with the measures taking effect today.

The Office of the United States Trade Representative (USTR) issued a notice on local time the 23rd, announcing that under Section 301 of the Trade Act of 1974, it would impose additional tariffs of 10% to 12.5% on dozens of countries and regions under the pretext of so-called "forced labor" to replace the expiring global import tariffs. The new tariffs will take effect at 12:00 noon ET on the 24th (12:00 noon Beijing time on the same day). The USTR stated that as the 10% global tariff is set to expire, this round of tariffs will be levied on 60 economies, covering more than 99% of U.S. trade volume. Senior U.S. officials added that tariff measures for goods in transit will take effect at 12:01 a.m. ET on July 28 (12:01 noon Beijing time on the same day). Imported goods including fuel, food, and fertilizers will be exempt from the new tariffs; products subject to specific industry-specific tariffs (such as automobiles, metals, and pharmaceuticals) are also excluded from the levy. Additionally, goods covered by the United States-Mexico-Canada Agreement (USMCA) will also be granted exemptions. U.S. officials noted that the new tariffs will not be imposed in tandem with existing steel and aluminum import taxes, namely the "Section 232" tariffs implemented by the Trump administration last year on national security grounds.

2 minutes ago

https://www.kucoin.com/learn/web3/what-is-hyperliquid-hype-decentralized-perpetual-exchange

Hyperliquid, a decentralized perpetual futures exchange, has seen its open interest reach a significant high of $11.5 billion, according to a report from Delphi Digital. This increase reflects a notable rise in the total value of outstanding derivatives on the platform, with much of the activity centered around the HIP-3 market framework and S&P 500 perpetuals. The surge in open interest suggests growing participation in tokenized traditional-asset markets, indicating an expanding interest in real-world asset exposure on the platform. The current level marks the highest since the October 2025 market downturn, highlighting a robust recovery.

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Key Takeaways Hyperliquid’s surge to $11.5 billion in open interest appears to suggest increased platform usage and interest in traditional-asset markets. Current activity is heavily tied to the HIP-3 framework and S&P 500 perpetuals, indicating a shift towards non-crypto exposure. The open-interest high reflects a significant recovery since the October 2025 crash, indicating a robust return of market confidence. What to Watch Market participants will be observing whether Hyperliquid can maintain or exceed this open-interest level in the coming months. Developments such as partnerships with major financial institutions or technological advancements could be consistent with increased YES outcomes on price prediction markets. Conversely, any regulatory challenges or security issues could disrupt this upward trajectory. Monitoring the market’s response to these factors will be crucial in understanding Hyperliquid’s future dynamics.

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Term Structure

Contract Odds Δ since publish Volume 24h December 31 20% — — View market → January 1 2027 6.2% — — View market → January 1 2027 2.6% — — View market → January 1 2027 50.5% — — View market → January 1 2027 9% — — View market → January 1 2027 3.6% — — View market →

Hyperliquid Slips Below $60 as Institutions Unstake $291M: Will Selling Follow?

A large Ethereum short on Hyperliquid is giving the market another glimpse of how serious capital is starting to use decentralized derivatives venues, not just centralized exchanges and OTC desks.

The position, tracked through the Hyperliquid explorer at wallet address `0x7fdafde5cfb5465924316eced2d3715494c517d1`, is sized at roughly $67 million against ETH. The wallet is labelled on-chain as “BobbyBigSize” and has been linked to quantitative institutional asset manager Fasanara Capital.

That sounds dramatic, and in some ways it is, but the important point is not simply that a large trader is short ETH. Large funds short assets all the time, and a short position does not automatically mean a trader is bearish in a simple, headline-friendly way.

The more interesting part is where the trade is happening.

Hyperliquid has become one of the most closely watched decentralized perpetuals exchanges in the market, and a position of this scale shows that on-chain derivatives venues are no longer only playgrounds for retail traders chasing leverage. They are becoming deep enough, and visible enough, for institutional-style positioning to show up in public.

TL;DR A Hyperliquid wallet linked to institutional trading activity is carrying a roughly $67 million ETH short. The position is visible through Hyperliquid’s on-chain explorer. The trade should not be read as simple ETH doom, because institutional shorts can be part of hedged or market-neutral strategies. A Big ETH Short Does Not Always Mean A Bearish Bet The instinctive read is obvious: large ETH short equals bearish Ethereum signal.

But that is too simple.

An institutional trader can short ETH for many reasons. It may be a directional bet, but it may also be a hedge against spot holdings, an offset against options exposure, part of a basis trade, or one leg of a broader market-neutral strategy. Funds that run quantitative books often care less about “ETH up or down” and more about relative pricing, funding rates, liquidity, volatility, and the relationship between spot and perpetual markets.

That is why this position needs to be handled carefully.

A $67 million short is large enough to watch, but it does not tell us the full book. We do not know, just from the short alone, whether the trader has long ETH somewhere else, whether they are hedging collateral, or whether they are running a spread trade across venues.

That is the difference between on-chain transparency and complete transparency. The position is visible, but the entire strategy is not.

Hyperliquid Is Becoming Harder To Ignore The venue is almost as important as the trade.

Hyperliquid has grown quickly because it offers a trading experience that feels closer to a high-performance centralized exchange than many earlier DeFi derivatives platforms. Fast execution, deepening liquidity, and a familiar perpetuals interface have helped it attract traders who may not normally spend much time on-chain.

That creates a different kind of market.

In earlier DeFi cycles, large traders often used decentralized venues for yield, liquidity mining, or niche token access, while serious derivatives flow remained mostly centralized. Hyperliquid has challenged that split. If large, professional traders can execute meaningful size on-chain, decentralized exchanges start to compete for a more valuable part of the market.

And because positions are visible, the market gets a new kind of signal.

Centralized exchange positioning is often inferred through funding rates, open interest, liquidation data, and exchange-reported metrics. On-chain perpetuals can expose wallet-level behavior more directly, although attribution still needs caution.

That visibility can make big trades feel more dramatic, but it also gives analysts more to work with.

ETH Traders Will Watch Funding And Liquidation Levels The short itself may become a reference point for ETH traders.

When a large position is visible, market participants often begin watching potential liquidation levels, funding changes, and whether the trader adds or reduces exposure. That can create its own feedback loop, especially if the position becomes part of the social trading conversation.

Still, it would be a mistake to assume the market can simply “hunt” a large institutional short.

Professional traders usually manage collateral, hedges, and risk carefully. If this position is part of a broader strategy, the visible short may only be one side of the trade. Trying to read it as a single vulnerable bet could lead to bad conclusions.

What matters more is that Ethereum derivatives activity is increasingly moving into venues where the market can observe it in real time.

That is a structural shift.

On-Chain Derivatives Are Growing Up Crypto has spent years arguing that finance will move on-chain, but derivatives have always been one of the hardest areas to migrate.

They require deep liquidity, strong risk engines, fast matching, reliable oracles, collateral management, and trader confidence. A venue can be decentralized in branding, but if it cannot handle size, serious traders will not use it.

Hyperliquid’s growth suggests that gap is narrowing.

The $67 million ETH short does not prove decentralized perpetuals have won, and it certainly does not prove Ethereum is about to fall. But it does show that institutional-style trades can now appear on-chain in a way that would have looked unlikely a few years ago.

That is the larger story.

The market is not just watching ETH price. It is watching where ETH risk is being traded.

If more large funds become comfortable using on-chain derivatives venues, the structure of crypto trading could keep shifting away from centralized exchanges alone and toward a more open, visible, and wallet-level market.

That may be uncomfortable at times, especially when large positions become public. But it is also exactly what on-chain finance was supposed to make possible.

This article is based on Hyperliquid explorer data for the relevant Ethereum short position.

This article was written by the News Desk and edited by Samuel Rae.

Goldman Sachs CEO publicly supports the CLARITY Act, diverging from his banking peers on stablecoin yield provisions.

Goldman Sachs CEO David Solomon has explicitly voiced support for advancing the CLARITY Act in an interview, while acknowledging the legislation is not perfect. "Like all legislation, the CLARITY Act has many areas open to debate and discussion, but I think one of the most important things it does is create a level playing field to enhance market stability and enable these markets to develop properly. I strongly support advancing the CLARITY Act so that we can establish market structures and kickstart the innovation process." Solomon’s endorsement comes as Republican senators are discussing an updated version of the bill, with a possible full Senate vote next week, marking another step forward for the long-awaited crypto market structure legislation. His supportive stance stands in sharp contrast to fierce opposition from fellow banking executives including JPMorgan Chase CEO Jamie Dimon. Dimon said in May that the latest bill version "allows them to effectively pay interest on things like deposits and stablecoins without necessary protections," warning "banks will not accept this approach, and it will eventually blow up." JPMorgan also argued in a June blog post that companies offering products with functions similar to traditional bank accounts should be subject to equivalent regulation and consumer protection rules. The core of the controversy revolves around the stablecoin interest provisions.

6 minutes ago

Tesla's losses widened to 12% in early trading, weighed down by negative free cash flow.

According to BIT (bit.com) market data, Tesla’s early-session losses widened to 12%, trading at $329.015 per share, with a total market capitalization of $1.24 trillion. This morning, Tesla released its second-quarter (Q2) financial results: revenue reached $28.24 billion, exceeding market expectations and rising 26% year-over-year, marking its first year-over-year revenue growth rate above 20% in three years. However, Q2 operating profit was only $398 million, far below the market consensus of $1.39 billion; adjusted earnings per share (EPS) came in at $0.33, down 18% year-over-year and also missing forecasts significantly. Notably, Tesla’s Q2 free cash flow stood at -$1.09 billion, its first quarterly negative figure since Q1 2024.

6 minutes ago

Uniswap v4 Launches Permissioned Pools

Uniswap has rolled out Permissioned Pools, a new hook standard for Uniswap v4 that enables permissioned asset trading via automated market makers, with compliance enforced directly on-chain. The permissioned asset pools are built in collaboration with on-chain asset management teams, and its first batch of partners includes Superstate, Securitize, and Dowgo.

6 minutes ago

Abraxas Capital deposits 2,211 $BTC to Kraken and 30,825 $ETH to Binance

Abraxas Capital deposited 2,211 $BTC ($143.88M) into #Kraken and 30,825 $ETH ($59.19M) into #Binance over the past 8 hours.

6 minutes ago

The US stock market's optical communication sector rose across the board, with Lumentum and AAOI gaining more than 7%.

According to market data from BIT (bit.com), the U.S. optical communication sector rallied across the board. Pure Photonics ETF FOTO and Corning advanced over 3%, Coherent and Ciena gained more than 4%, while Lumentum and AAOI jumped over 7%.

6 minutes ago

LayerZero announced a partnership with Keeta, and will support cross-public-chain transfers of tokenized commercial bank deposits.

LayerZero announced a partnership with Keeta to support the transfer of tokenized commercial bank deposits across public blockchains including Keeta Network, Ethereum, Solana, and Base, providing institutional cross-chain settlement infrastructure. The two parties will combine LayerZero’s omnichain interoperability protocol with Keeta’s compliance infrastructure to enable institutions to conduct fund management and payment operations. The newly launched Keeta Stablecoins are backed by commercial bank deposits held by U.S.-licensed fintech platform Bivo. Unlike traditional stablecoins, they are pegged to actual commercial bank deposits and allow issuing institutions to retain control over contracts via LayerZero’s Omnichain Fungible Token (OFT) standard. Keeta Stablecoins will launch later this month, initially supporting the U.S. dollar, with plans to expand to additional fiat currencies including the euro, Japanese yen, Chinese yuan, British pound, Canadian dollar, Mexican peso, UAE dirham, and Hong Kong dollar.

6 minutes ago

The Hyperliquid (HYPE) token saw a notable decline this week, dropping from a recent high of $70 to around $58. Over the past seven days, HYPE has fallen by 15%, including a 7% decrease within the last 24 hours, prompting concerns about growing selling pressure among investors.

Major withdrawals by Multicoin CapitalA sequence of large-scale unstaking transactions by prominent investment firms has contributed to this downturn. Lookonchain, a blockchain analytics provider, reported that Multicoin Capital transferred nearly 400,000 HYPE tokens to Coinbase Prime, along with an additional 212,000 tokens requested for unstaking. In total, Multicoin moved approximately 1.96 million HYPE tokens—valued at about $120 million—across three different wallets after keeping these funds staked for nearly two months.

Multicoin Capital, a venture capital firm specializing in cryptocurrency and blockchain investments, had bought these tokens at around $30 each. Their recent moves came only weeks after the company published a bullish research report predicting a long-term HYPE price target of $319.

Multicoin Capital had initially acquired significant HYPE holdings at about $30 apiece and, should it exit now, could realize total profits of roughly $18.5 million, based on current market rates.

Approximately a month before these withdrawals, Multicoin Capital released a report outlining its positive outlook on HYPE, reinforcing the impact of its recent actions on market sentiment.

Mini dictionary: Multicoin Capital is a crypto-focused venture capital firm. It manages funds and invests in early-stage blockchain projects, with a significant presence in the decentralized finance and web3 sectors.

Selini Capital joins large-scale unstakingSelini Capital, another significant player in digital asset investments, also removed its stake, pulling out approximately 504,000 HYPE tokens worth around $31 million. Whether these tokens will be sold or simply repositioned remains uncertain, but such moves often indicate a strategic shift or preparation for potential selling.

Combined withdrawals from Multicoin and Selini Capital exceed $150 million in HYPE tokens and have fueled speculation within the wider crypto market about possible further downside.

Transferring recently unstaked tokens to centralized exchanges like Coinbase typically signals the potential for near-term selling, particularly when large investment firms are involved.

Alongside these developments, Coin Bureau, an independent cryptocurrency research resource, noted that Hyperliquid’s open interest set a new 2026 high at $11.5 billion—its highest since last year’s “10/10 crash”—reflecting vigorous derivatives trading activity even as spot prices soften.

Mini dictionary: Selini Capital is a digital assets investment firm that participates in trading, staking, and early-stage funding of blockchain projects, focusing on institutional strategies.

ETF outflows and technical outlookInstitutional sentiment toward HYPE has shifted, as spot HYPE ETFs recorded consistent outflows throughout July. On July 21, net withdrawals amounted to 11,210 tokens, while July 17 registered the highest single-day exit this month with 90,580 tokens redeemed from funds.

DateHYPE ETF Net WithdrawalJuly 1790,580 tokensJuly 2111,210 tokensTechnical analysis shows that HYPE has broken below the support range formed by a symmetrical triangle pattern. The Relative Strength Index, now at 40, and a negative Chaikin Money Flow highlight fading bullish momentum and investor caution.

A key support area has formed between $54 and $55. Analysts believe that defending this level could allow prices to rebound toward $63 and potentially challenge resistances up to $70. However, losing this support would expose HYPE to the risk of sliding toward $48.

At present, HYPE is trading around $58, with traders closely observing its performance near the $54–$55 technical threshold in the upcoming sessions.

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

Bitcoin will get ‘lift’ from Hyperliquid, Robinhood in next crypto bull market: Bitwise exec