Track market-moving stories before they get noisy

According to Hyperinsight monitoring, after the South Korean stock market closed, SK Hynix (SKHY) ADR (US-listed) on Hyperliquid continued to decline, currently trading at $148.5, with a 24-hour drop of around 10.5%; during the same period, South Korean-listed SK Hynix (SKHX) traded at 1,134 won, down about 8.9%. Calculated based on the ratio of 0.1 underlying Korean shares per SKHY ADS, the current ADR premium is around 30.8%, narrowing by roughly 4 percentage points from yesterday. The steeper decline of SKHY compared to SKHX has further narrowed the spread between the two. The previously tracked whale wallet 0x257 still maintains a convergence trade of "long SKHX, short SKHY", with total bilateral positions of around $7.893 million and a net floating profit of approximately $343,000: SKHX: 2,903 long positions with 10x isolated leverage, position value of about $3.288 million, average entry price of $1,196, floating loss of around $186,000, return rate of roughly -53.4%; SKHY: 31,014 short positions with 10x isolated leverage, position value of about $4.605 million, average entry price of $165.5, floating profit of around $529,000, return rate of approximately 103.0%. The funding fee structure remains bilateral. The hourly funding rate for SKHX is around -0.00303%, while for SKHY it is approximately 0.00185%; under the current portfolio, both the SKHX long position and SKHY short position are funding fee recipients, meaning the whale is expected to collect a total net of around $185 per hour.

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A sharp slump in crypto-related semiconductors has forced long-position holders to exit en masse; six major whales stopped out of their long positions today, incurring a total loss of $16.8 million.

According to Hyperinsight’s monitoring, semiconductor-related contracts on Hyperliquid have fallen collectively today: Since 00:00 UTC today, SKHY is down 8.1%, SNDK down 7.1%, SKHX down 6.4%, and MU down 3.8%. The sell-off is forcing long positions entered at previous highs to be liquidated one by one. Among previously tracked addresses, six whales today placed stop-loss orders exceeding $1 million each on the four main assets, closing out a total of $16.852 million in long positions, with realized losses totaling $1.072 million. Stop-losses are highly concentrated in SKHY: five of the six whales’ million-dollar stop-losses are all on this asset; the remaining whale spread their exit across three assets, with stop-losses of roughly $386,000 on SKHY, $332,000 on SNDK, and $304,000 on MU, totaling around $1.022 million. SK Hynix’s ADR is the asset with the steepest decline in this round and also the most crowded exit for leveraged long positions. - HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain updates.

2 minutes ago

In U.S. pre-market trading, declines in semiconductor, optical communication and storage stocks narrowed, with SK Hynix ADR rising over 3% and Micron and SanDisk turning positive.

According to BIT (bit.com) market data, during U.S. pre-market trading, semiconductor, optical communication and storage stocks have rebounded from their lows, with declines narrowing significantly for multiple assets. SK Hynix (SKHY) rose 3.61%, SanDisk (SNDK) turned from a decline to a gain of 0.70%, and Micron Technology (MU) turned from red to up 0.07%. For semiconductor stocks: ASML’s decline narrowed to 0.98%, Broadcom (AVGO) fell 1.85%, Marvell Technology (MRVL) fell 1.96%, NVIDIA (NVDA) fell 2.49%, and KLA (KLAC) fell 2.94%. The storage sector was the first to turn positive: SK Hynix ADR (SKHY) gained 3.61%, SanDisk (SNDK) rose 0.70%, Micron Technology (MU) rose 0.07%; Seagate Technology (STX) saw its decline narrow to 1.69%, while Western Digital (WDC) fell 1.84%. Optical communication concept stocks generally posted narrowed declines: Lumentum (LITE) down 1.61%, Nokia (NOK) down 1.73%, Corning (GLW) down 2.18%, Applied Optoelectronics (AAOI) down 2.63%, and Astera Labs (ALAB) down 3.01%.

2 minutes ago

Goldman Sachs raised Robinhood's price target to $137 and maintained its "Buy" rating.

Goldman Sachs raised Robinhood's target price from $121 to $137 and maintained its "Buy" rating.

2 minutes ago

PC brands are scrambling to secure memory supplies from Changxin Storage, with orders reportedly booked through the end of 2027.

Changxin Memory’s IPO has entered its final stage. PC supply chain sources said that with the easing of tensions between China and the U.S., and Apple reportedly having tested Changxin Memory’s memory chips and lobbied the U.S. government to allow their use, PC brands have accelerated orders, with related orders reportedly booked through the end of 2027. Sources noted that while memory price growth may narrow in the second half of 2026, prices will still continue to rise. Brands are passing part of the costs to consumers; rising end prices have started to weigh on sales, but have not yet reached a tipping point. Currently, all manufacturers are actively competing for memory supplies, with Changxin Memory being one key source. All major PC manufacturers have completed testing of Changxin Memory’s products, but securing supply still depends on quotas. Large clients including Dell, HP, Lenovo, and Apple are expected to get priority in supply, while smaller manufacturers may not make the supply list. Supply chain sources also said that the U.S. previously considered adding Changxin Memory to its Entity List, but no such action has been announced. Apple is reportedly planning to use products with Chinese memory chips exclusively for the Chinese market, which some PC brands view as a signal that restrictions may ease, prompting them to increase orders for Changxin Memory and Yangtze Memory.

2 minutes ago

The semiconductor sector has been hit by sell-offs, with Kimi K3 sparking concerns over AI valuations and chip spending.

The semiconductor sector is under pressure, and investors are reassessing AI-related trades. Moonshot AI claims its Kimi K3 model can compete with models from OpenAI and Anthropic, sparking renewed market concerns over AI firms' valuations and the outlook for chip spending. Despite the sell-off in chip stocks, the overall market breadth remains healthy; the recent moves are more likely a reflection of capital rotating out of the semiconductor sector rather than a broad market pullback.

2 minutes ago

SK Group Chairman responds to SK Hynix's stock price plunge: Avoid frequent trading and hold for the long term.

SK Group Chairman and Korea Chamber of Commerce and Industry Chairman Choi Tae-won responded to the sharp plunge in SK Hynix’s stock price, saying that while he cannot predict SK Hynix’s share price movement next month, investors should avoid frequent trading, as long-term holding may be more conducive to preserving assets. Choi believes that as the AI industry develops, demand for memory will continue to expand. He noted that AI is currently like a "4-year-old child," and as it matures into a full-fledged industry, it will inevitably require more memory, with related demand potentially growing exponentially. He also pointed out that SK Hynix’s stock had risen rapidly earlier, leading to a sharp pullback when market expectations shifted, adding that prices that surge too quickly sometimes need adjustments to align with reality. When discussing South Korea’s AI industry strategy, Choi stated that South Korea cannot compete with China on cost nor surpass the U.S. in model quality, so it should build infrastructure, develop applications suited to domestic needs, and explore niche markets, with a long-term shift from exporting memory chips to exporting computing power and "intelligence."

2 minutes ago

Table of contents

Two days ago this site retired its concern about HYPE when the token bounced over $67. The market took one look at that and reopened the case. HYPE trades at $59.93 now, down 9% in a day, below the round number, 22% off the all-time high it set just a month ago. So: why is Hyperliquid falling? The data gives three answers, and one of them is a date.

HYPE trades at $59.93 as of July 17, 2026, down 9.0% over 24 hours, per CoinGecko. It sits in both the trending and most-viewed lists, which is what happens when a top-10 token breaks a round number. The all-time high: $76.67, set June 16, 2026. One month later the token has surrendered 22% of that.

Answer one: the leverage is leaving HYPE is the token of a derivatives exchange, and its own derivatives tell the story. Futures open interest in HYPE has contracted toward $2.7 billion, long positions have been liquidated in waves through the week, and funding rates collapsed as traders flipped to paying premiums for shorts. That is a positioning cleanout in plain sight: leveraged bulls who bought the June high are being carried out, and each liquidation is forced selling that begets the next. Nothing about that process requires bad news. It only requires a crowded trade, and a token that rallied to an all-time high in mid-June was exactly that.

Answer two: high beta cuts both ways The macro tape has been a blender: a war scare, an inflation surprise, a relief rally, and oil creeping back up on ceasefire doubts. Through all of it, HYPE has moved like what it is, one of the highest-beta large caps on the board. When the market fell last week, HYPE fell hardest in the top 10. When the market bounced on the cool CPI, HYPE bounced hardest. Now the bounce is fading and HYPE is, again, leading the way down. Traders reducing risk sell their most volatile holdings first. HYPE is on top of that list by construction.

Answer three: August 6 Here is the date. On August 6, roughly 9.92 million HYPE unlock for core contributors, about 1% of total supply, worth around $618 million at current prices per CoinGecko unlock data. Unlike this week’s Arbitrum unlock, which went to a DAO vault, this one goes to insiders, the category of unlock with sellers historically attached. Our token unlock guide explains the difference in full. Three weeks out, that number is already doing what big unlocks do before they arrive: giving every nervous holder a reason to sell first and ask questions later.

The One Number That Matters Nine. That is how many consecutive weeks HYPE-focused ETFs have recorded inflows, including roughly $10 million last week, with the token also appearing in a T. Rowe Price crypto ETF’s holdings.

Sit with the contradiction, because it is the entire HYPE story right now. The platform just posted record open interest above $11 billion. Institutions are buying the token through ETFs every single week. And the price is down 22% in a month anyway, because retail leverage leaving is a bigger flow than institutional drip arriving. Both facts are true. The question that decides the next month is simply which flow exhausts first: the sellers being liquidated, or the buyers on autopilot.

Key Levels The broken round number, $60, is now the immediate test from below; reclaiming it quickly would mark today as a flush, not a trend. Below, the next area the market has flagged sits near $56, and beneath that the round $50 enters the conversation nobody wants. This week’s low printed at $59.79; watch whether it holds on a closing basis.

Bottom Line Why is Hyperliquid falling? Because leverage is unwinding on a token that rallied too fast, because high-beta assets lead every selloff by design, and because a $618 million insider unlock is 20 days away and casting a shadow. Against all that stands a business at record volume and nine straight weeks of institutional buying. The honest read: this is a fight between fast money leaving and slow money arriving, at exactly the round number where such fights get settled. $60 reclaimed, the bulls keep the story. $56 lost, the unlock shadow wins early.time high? $76.67, set on June 16, 2026. At $59.93 the token trades about 22% below that peak, one month later.

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

Frequently Asked Questions Why is HYPE going down today? HYPE fell 9% to $59.93 on July 17, 2026, driven by unwinding leverage: futures open interest contracted toward $2.7 billion with heavy long liquidations, while broad risk reduction hit high-beta tokens hardest.

What is the HYPE unlock in August? About 9.92 million HYPE, roughly 1% of supply worth around $618 million, unlocks on August 6 for core contributors, per CoinGecko unlock data. Insider-bound unlocks historically carry more sell pressure than treasury unlocks.

Is Hyperliquid the platform doing badly? No. The exchange recently posted record open interest above $11 billion. The token's decline reflects trader positioning and upcoming supply, not visible platform weakness.

Are institutions buying HYPE? HYPE-focused ETFs have logged nine consecutive weeks of inflows, including about $10 million last week, and the token appears in a T. Rowe Price crypto ETF's holdings.

What are the key HYPE price levels? $60 is the broken round number to reclaim. Support sits near $56, then the round $50. This week's low at $59.79 is the immediate line on a closing basis.

What is HYPE's all-time high? $76.67, set on June 16, 2026. At $59.93 the token trades about 22% below that peak, one month later.

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Key Highlights TKNZ represents T. Rowe Price’s inaugural actively managed spot cryptocurrency ETF, now trading on NYSE Arca Initial assets total approximately $15 million, distributed across Bitcoin, Ethereum, BNB, Solana, XRP, and Hyperliquid Portfolio composition features Bitcoin as the largest holding at 40.75%, while Hyperliquid comprises 6.45% Expense ratio stands at 0.75% until May 2027, subsequently increasing to 0.90% Active management strategy allows portfolio adjustments based on ongoing market analysis and research insights Baltimore-headquartered investment powerhouse T. Rowe Price, which manages $1.9 trillion in client portfolios, made its official debut in the cryptocurrency exchange-traded fund space Thursday by introducing TKNZ — positioned as the market’s inaugural actively managed multi-asset digital currency ETF.

🚨JUST IN: T. Rowe Price’s TKNZ Active Crypto ETF began trading TODAY with about $15 million in assets.

The fund debuted with about 41% allocated to BTC, 18.4% to ETH, and sizeable positions in BNB, SOL, and XRP.

Hyperliquid’s HYPE accounted for nearly 6.5% of the portfolio. https://t.co/zTh1kq8ATD pic.twitter.com/YNcMtRQbD1

— Coin Bureau (@coinbureau) July 16, 2026

Trading commenced on NYSE Arca following a nearly nine-month approval process after the company submitted its initial application in October 2025. The fund opened with roughly $15 million in starting capital.

Distinct from single-asset offerings such as standalone Bitcoin or Ethereum ETFs, TKNZ provides exposure through a diversified cryptocurrency portfolio. The initial allocation breakdown showed Bitcoin commanding 40.75%, Ethereum at 18.42%, BNB representing 11.01%, Solana accounting for 9.44%, XRP at 9.37%, and Hyperliquid comprising 6.45%.

Additional holdings feature Stellar Lumen at 3%, Dogecoin at 1.28%, along with a modest cash reserve.

Dynamic Portfolio Management Defines Strategy TKNZ’s distinguishing characteristic lies in its active management framework. Fund managers possess the flexibility to rebalance holdings according to evolving market dynamics, proprietary analysis, and risk evaluation rather than adhering to a predetermined index structure.

According to T. Rowe Price, this methodology aims to capitalize on shifting momentum patterns as capital flows between various digital assets throughout market cycles.

Blue Macellari, who has directed T. Rowe Price’s digital asset division since 2022, manages the fund with support from four additional co-portfolio managers. The organization developed proprietary digital asset trading systems and established partnerships with institutional service providers ahead of the product launch.

Bloomberg Intelligence Senior ETF analyst Eric Balchunas observed that the opening portfolio composition appeared to underweight Bitcoin while maintaining heavier positions in alternative assets, especially Hyperliquid.

Hyperliquid Allocation Generates Market Interest The 6.45% allocation to Hyperliquid has captured attention considering the token’s recent market trajectory. Hyperliquid reached a peak price around $74.50 in the previous month and presently trades near $65.60, representing approximately 38% appreciation over the trailing twelve months. Bitcoin, conversely, has declined roughly 45% during the identical timeframe.

According to fund documentation, the ETF will not implement staking for any proof-of-stake assets initially, though staking participation may be incorporated down the line.

The expense structure is set at 0.75% through May 2027 via a provisional fee waiver, before escalating to 0.90%. Detractors of actively managed investment vehicles typically cite elevated fees as a disadvantage relative to passive index alternatives.

T. Rowe Price’s entrance follows BlackRock’s recent introduction of a Bitcoin income ETF earlier this month, demonstrating that major asset management firms continue diversifying and refining their cryptocurrency product portfolios.

With nearly 90 years of asset management history, TKNZ represents T. Rowe Price’s maiden direct exposure vehicle in the digital currency sector.

A programmer has only two remaining password attempts, meaning 7,002 BTC worth nearly $8 billion could be permanently locked.

Programmer Stefan Thomas currently has only two remaining password attempts left to unlock an IronKey encrypted USB drive holding the private keys to 7,002 Bitcoin. The device will permanently lock and erase its data after 10 consecutive incorrect password entries, and Thomas has already used up 8 of his allotted attempts. The Bitcoin dates back to 2011, when Thomas created an educational video titled "What is Bitcoin?" and was compensated with 7,002 BTC. At the current Bitcoin price of roughly $111,000, the asset is valued at approximately $777 million. Thomas previously stored his wallet’s private keys on the encrypted USB drive and wrote down the password on paper, but later lost the password. While the Bitcoin remains in its on-chain address, the funds are currently inaccessible and cannot be transferred due to the inability to access the private key. The IronKey USB drive is built with high-strength encryption, triggering a permanent lock after 10 consecutive wrong password entries. Its manufacturer, Kingston, confirms there are no backup passwords or alternative recovery methods beyond the original password set by the user. As Bitcoin’s price has surged, the value of this locked asset has continued to rise. Thomas has sought assistance from multiple parties, including digital forensics firm Naxo and security researcher Chris Tarnovsky, but no successful recovery has been announced to date.

6 minutes ago

韩国首尔市长批评韩国政府放任杠杆产品冲击股市

According to Yonhap News Agency, Seoul Mayor Oh Se-hoon released a statement harshly criticizing the leverage derivatives issue that caused sharp fluctuations in South Korea’s stock market, as well as President Lee Jae-myung’s proposed "active debt relief" policy, and urged the government to roll out fundamental countermeasures as soon as possible. He pointed out that this year, South Korea’s KOSPI index has triggered the temporary program trading restriction mechanism 37 times in total, exceeding the full-year record of 26 times set during the 2008 global financial crisis. Oh Se-hoon criticized: "The government was aware of the huge risks of individual stock leverage derivatives, yet still approved their listing, and stood idly by while retail investors’ assets kept evaporating, ultimately leading to the current situation."

6 minutes ago

Brent crude oil fell below $83, with an intraday decline of 1.33%.

According to Bitget market data, Brent crude oil has fallen below $83 per barrel, with an intraday decline of 1.33%. WTI crude oil dropped more than 1% intraday, currently trading at $78.66 per barrel.

6 minutes ago

Bitcoin drops below $63,000, posting a 2.98% decline in 24 hours.

According to HTX market data, Bitcoin has fallen below $63,000, currently trading at $62,968.46, with a 2.98% drop in the past 24 hours.

6 minutes ago

Meta Platforms Hires AWS Compute Business Head, Signaling Potential Entry Into Cloud Services Sector

According to a Wall Street Journal report, sources familiar with the matter disclosed that Meta Platforms (META.O) has hired the head of computing business at Amazon Web Services (AWS) and is weighing an entry into the cloud services sector.

6 minutes ago

SOL falls below $75, with a 2.92% decline in the past 24 hours.

According to HTX market data, SOL has fallen below $75, currently trading at $74.99, with a 2.92% decline in the past 24 hours.

6 minutes ago

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Asia-first trading platform Trasia has launched alongside a $1.75 million seed investment led by Multicoin, according to a Thursday statement.

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The non-custodial platform is designed to offer a mobile-first experience similar to major centralized exchanges while targeting traders across Asian markets.

Trasia said its upcoming HIP-3 protocol will expand access to Asian assets on-chain, with a focus on emerging sectors such as AI and robotics.

The company aims to combine localized markets with a familiar trading interface to encourage greater adoption of decentralized trading. Its web platform is live, and a mobile app is expected to launch later this summer.

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

Hyperliquid traders are pricing CXMT shares as much as 575% above their official IPO level ahead of the Chinese memory chipmaker’s Shanghai market debut.

A perpetual futures contract launched by Trade.xyz climbed as high as $8.64 on Wednesday, compared with CXMT’s offer price of 8.66 yuan, or about $1.28 per share. The contract implied a valuation of roughly $500 billion for the company.

The premarket surge reflects expectations that CXMT could record a major gain when its shares begin trading in Shanghai.

A rise of around 330% from the offer price would make CXMT the largest publicly traded company in mainland China, surpassing Industrial and Commercial Bank of China’s market value of about 2.5 trillion yuan.

The Hyperliquid contract allows traders to take positions on CXMT’s expected share price before the company completes its public debut, creating a global market for speculation around one of China’s most anticipated technology listings.

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CXMT opened books for an IPO that could raise as much as $9.8 billion, making it the second largest offering in mainland Chinese history.

The Hefei based company sold 7.69 billion shares, including 1 billion shares issued through an over allotment option, at 8.66 yuan each. The deal gives CXMT an initial market value of approximately 580 billion yuan.

Retail demand for the offering was intense. The retail portion was 212 times oversubscribed after a clawback mechanism, with individual investors submitting 9.4 million orders, according to a Thursday filing.

CXMT is expected to generate net income of around 100 billion yuan this year. At its IPO valuation, the company is priced at about 5.9 times projected 2026 earnings, compared with a consensus multiple of roughly 20 times.

The relatively low offering multiple has fueled expectations of a sharp first day rally.

Mainland Chinese IPOs have delivered strong early returns in recent years. Offerings that raised at least $100 million over the past two years gained an average of 248% during their first trading session.

CXMT is the world’s fourth largest producer of dynamic random access memory chips, which are used in smartphones, computers, artificial intelligence servers and data centers.

The company has become central to Beijing’s effort to reduce its reliance on foreign semiconductor suppliers, particularly in high bandwidth memory, a key component for artificial intelligence infrastructure.

A successful listing could strengthen momentum for other major Chinese technology companies considering public offerings, including rival memory chipmaker Yangtze Memory Technologies, Baidu’s chip unit Kunlunxin and artificial intelligence developer DeepSeek.

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

HYPE, one of the highest valued decentralized finance (DeFi) tokens, slipped below a key resistance on July 16 as selling pressure increased and buyers struggled to defend crucial technical levels. The current price action has raised concerns about the asset’s short-term outlook.

Price Action and Market MetricsHYPE is currently changing hands at $62.26, marking a decline of 7.93% over the past 24 hours. Its daily trading volume reached $887.20 million, while its market capitalization stands at $15.80 billion, placing HYPE among the leading assets in the DeFi sector by market cap.

Semifury.eth, a crypto analyst, commented on the situation with a technical analysis, highlighting that the token now trades just below an important resistance at $65.784. According to the analyst, holding below this level on daily closing terms could expose HYPE to further losses, with $57.22 identified as the next key support.

Semifury.eth stated that if HYPE price closes below $65.784, the chance of a move down toward $57.22 increases, while a return above $65 could help buyers regain momentum and potentially drive the price towards recent highs.

He considers the $65 area a decisive zone for the token’s next direction. A sustained bounce above this mark would signal renewed buying strength, while continued weakness could reinforce the downtrend.

Technical Analysis: Signs of WeaknessAccording to chart indicators, HYPE faces challenges from weak buying momentum. The price currently sits beneath the mid Bollinger Band at $66.47, while the upper and lower bands are at $72.43 and $60.52, respectively. With the token trading closer to the lower band, short-term selling pressure remains evident.

The Relative Strength Index (RSI) for HYPE stands at 43.48, below both the neutral 50 mark and the 52.75 signal line. This positioning suggests ongoing bearish momentum, but the RSI has not yet entered oversold territory, leaving room for further declines without signaling a reversal.

The coming days could prove pivotal for the token. A move back above the $65–$66 resistance might revive bullish sentiment, prompting technical indicators to recover. If selling persists, however, attention will likely shift to lower support levels at $60 and, as highlighted by semicfury.eth, $57.22.

LevelValueCurrent price$62.26Resistance$65.784Support$60 (initial), $57.22 (analyst target)Market cap$15.80 billionDaily volume$887.20 million14-day RSI43.48Mid Bollinger Band$66.47Top/Bottom Bollinger Bands$72.43 / $60.52Investors remain watchful as HYPE navigates this critical technical region, with the potential for further volatility if either buyers or sellers gain the upper hand.

Mini dictionary: Bollinger Bands, a volatility indicator developed by John Bollinger, consist of a middle moving average line and two bands above and below it, reflecting price fluctuations around the average and helping traders spot overbought or oversold market conditions.

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.

According to the analyst, waiting for universal confirmation of a market bottom could mean missing the strongest early opportunities.

Crypto trader Axel Bitblaze has laid out a fresh market thesis built on a video from analyst Taiki Maeda, arguing that assets like Hyperliquid (HYPE), Lighter (LIT), and Zcash (ZEC) are already trading like winners of the next cycle while most investors are waiting for a fourth-quarter bottom.

He says that markets tend to move before the crowd agrees a bottom has formed, so the better window to position could be mid-to-late Q3 and not whenever things look safe.

The Case for HYPE, LIT, and ZEC On July 15, Maeda shared a video on his X account in which he said that crypto was bottoming and that he would be longing HYPE, LIT, and ZEC.

His take was expanded on by Bitblaze in a July 16 post, who noted that Hyperliquid has bought back about 3.4% of the circulating HYPE supply this year, allowing the token to perform well even as sector mainstays such as Bitcoin (BTC) struggled.

“If BTC volatility causes another $HYPE dip without changing its fundamentals… that could be an accumulation opportunity,” wrote the analyst.

Lighter’s LIT token was presented as a higher-risk alternative, with Bitblaze crediting its reported partnership with Robinhood for giving the decentralized perpetual exchange access to a much wider audience. He also noted that buybacks have removed more than 6% of LIT’s circulating supply, helping to push it to an all-time high on the second-to-last day of 2025, when many altcoins were losing ground.

Meanwhile, ZEC carries the most caution. In his market update video, Maeda said he sold the privacy coin after the discovery of a vulnerability in its Orchard shielded pool that could have allowed bad actors to create unlimited amounts of fake ZEC, triggering a 60% collapse. He did, however, buy most of the ZEC back after reassessing the project’s outlook, with the Ironwood upgrade set for July 28 expected to introduce stronger quantum resistance and use formal verification to reduce the risk of hidden bugs.

That update, according to Bitblaze, could help push up the asset’s price. Recall that last week, Zcash founder Zooko Wilcox said that they were close to producing a mathematical proof that Ironwood’s new shielded pools have no undetectable counterfeiting bugs, taking ZEC’s price past $500.

You may also like: Bitwise Report: Crypto Fundamentals Are Getting Stronger Despite Third Straight Negative Quarter ZEC Briefly Tops $500 After Founder Says Formal Proof Is Nearly Ready Analyst Predicts 2-3 Years of Crypto Gains as Risk-On Environment Emerges The token is trading at about 0.8% of Bitcoin’s market cap, and per Maeda’s model, it could go anywhere between $650 and $700 if that ratio climbs back to 1%.

Traders Urged Not to Wait for Bitcoin Bitblaze said that crypto has been in a bear market since the euphoria experienced in mid-2025 when ETH was closing in on $5,000. Now, people are waiting for the bottom, which, according to him, has been penciled in for Q4 2026.

But he believes the market has a tendency to “front-run what everyone expects,” meaning it is better for traders to start positioning themselves between August and September “before the recovery becomes obvious.”

“Don’t wait for Bitcoin and the entire market to look perfect,” the analyst advised. “The next winner usually starts separating from the market before everyone accepts that the bottom is forming.”

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Nasdaq-listed Hyperion DeFi said it entered an agreement with Skew Technologies to deploy 500,000 Hyperliquid (HYPE) tokens to support institutional perpetual futures markets on Hyperliquid’s HIP-3 permissionless listings.

Under the agreement, Hyperion will receive an equity stake in Skew and a share of listing-service revenue generated from the platform, according to a Wednesday press release.

The companies said the service is designed to help institutional clients launch custom perpetual futures markets on Hyperliquid.

“As we assessed opportunities in HIP-3, we continued to receive demand from various teams globally seeking to launch and distribute new markets using Hyperliquid’s infrastructure,” said Hyunsu Jung, chief executive officer of Hyperion DeFi.

Hyperliquid is a layer-1 blockchain focused on perpetual futures trading. Its HIP-3 framework lets developers launch custom perpetual markets by posting HYPE as bonded capital, creating new utility for the token beyond staking.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

X updates its creator revenue sharing program; inducement of interactive behaviors such as "replying to follow each other" may result in account suspension.

X Product Lead Nikita Bier announced that the platform has updated its creator revenue sharing program. Accounts that induce engagement three or more times via tactics such as "reply to follow back" will be removed from the program and referred to the policy team for evaluation on whether to suspend the account. Grok is now capable of identifying such behavior; nearly 4,000 accounts were removed from the program on the same day. The new model launched by X detects duplicate content three times more efficiently than its predecessor. Even if reposters add watermarks, intros, or other modifications, monetization exposure for such content will belong to the original uploader—a rule that also applies to copied popular text posts. Bier added that the platform detected 1.5 million stolen posts during this cycle. Accounts engaging in repeated infringement or intentionally evading detection will be removed from the creator revenue sharing program. These adjustments will result in over $1 million in revenue being redistributed to original content creators.

8 minutes ago

Bankless Co-founder: Bitcoin may have entered a sideways consolidation phase, with the bottom largely in place.

Bankless co-founder David Hoffman published an article stating that Bitcoin’s current trend faces two possible paths: sideways consolidation to bottom out, or one final round of panic selling. He opines that Bitcoin is more likely to enter a sideways grinding phase, with its bottom already largely formed.

8 minutes ago

SpaceX’s short interest ratio rose to 29% of its outstanding shares, with short positions totaling $25 billion.

As SpaceX’s share price has fallen back to near its IPO price, short sellers are rapidly increasing their bearish positions on the company. Data from S3 Partners shows that roughly 185 million SpaceX shares are currently sold short, accounting for about 29% of its publicly traded float, equivalent to around $25 billion in short positions. Three weeks ago, the estimated number of SpaceX shares sold short was just 40 million, making up 5% to 7% of its float. The stock has dropped roughly 20% cumulatively since July, and on Wednesday it briefly fell below its $135 IPO price for the first time. KeyBanc Capital Markets noted that when SpaceX went public, its publicly traded shares made up only 5% of its total share count of around 13 billion. The first batch of large-scale restricted shares is expected to unlock around the release of its second-quarter financial results, at which point roughly 11% of the total share base will become eligible for sale; multiple subsequent batches of restricted shares, each accounting for about 4% of total shares, will also be unlocked starting about 70 days after the IPO. Elon Musk’s roughly 42% stake in SpaceX remains locked until June 2027. The company’s 13th Starship test flight is scheduled for Thursday, which could impact market sentiment toward the stock.

8 minutes ago

Ansem: If PUMP delivers on its airdrop promises and improves community relations, the token could surge 10 to 15 times.

Renowned crypto KOL Ansem has published an article arguing that token buybacks alone do not effectively support valuation. Hyperliquid generates ~$800 million in annualized revenue, while Pump.fun brings in around $440 million annually. Both platforms regularly use a portion of profits to repurchase tokens, yet Hyperliquid’s fully diluted valuation (FDV) stands at roughly $65 billion, compared to Pump.fun’s mere $1.4 billion. He notes that the valuation gap between the two is not primarily driven by revenue, but by the "trust premium" shaped by team conduct and market decisions. Hyperliquid rarely overpromises, consistently rolls out products, and rewards core users per preset metrics, fostering strong trust between its team and community. By contrast, Pump.fun has generated $1 billion in cumulative revenue and raised $1 billion via ICO, but has yet to deliver on its previously promised user airdrop. Ansem believes that if Pump.fun fulfills the airdrop and addresses core users’ concerns, PUMP’s price could surge 10 to 15 times, while boosting the platform’s trading volume, visibility, and revenue growth. He also cited Bitcoin as an example: the cryptocurrency has no revenue, yet boasts a $1.3 trillion market cap, with its value rooted in its fixed 21 million coin supply and the trust built from the network’s ongoing operation. Beyond tangible metrics like revenue, trust, meme effects, and attention are also key factors influencing asset valuation.

8 minutes ago

Keyrock acquires BlockFills' institutional trading and brokerage business for $3.25 million

Keyrock has completed the acquisition of BlockFills' institutional trading and brokerage business, with the deal covering its trading technology, institutional client relationships, and derivatives trading team. The acquisition will also expand Keyrock's regulatory scope, including an entity registered with the Cayman Islands Monetary Authority and another UK entity seeking authorization from the Financial Conduct Authority (FCA). Keyrock did not disclose the transaction price in its announcement. Per prior court documents and disclosures from company representatives, the total acquisition value is $3.25 million, payable in two installments, with certain arrangements subject to regulatory approval. BlockFills suffered major losses during the February 2026 crypto market crash, after which it filed for Chapter 11 bankruptcy protection in the U.S. Keyrock was ultimately selected as the buyer in the firm's bankruptcy proceedings.

8 minutes ago

Serenity: Declines in storage and AI-related crypto assets likely stem from deleveraging and cascading margin liquidations.

Serenity noted that Micron Technology announced today it has signed a long-term memory agreement with Qualcomm, but Micron’s stock price still fell by 5.37% following the announcement. He believes that, with multiple structural agreements continuing to take effect, the current decline does not appear to stem from issues with storage or AI stocks themselves. The related drop is more likely due to the winding down of deleveraging and margin call liquidation chains.

8 minutes ago

X updates its creator revenue sharing program; inducement of interactive behaviors such as "replying to follow each other" may result in account suspension.

X Product Lead Nikita Bier announced that the platform has updated its creator revenue sharing program. Accounts that induce engagement three or more times via tactics such as "reply to follow back" will be removed from the program and referred to the policy team for evaluation on whether to suspend the account. Grok is now capable of identifying such behavior; nearly 4,000 accounts were removed from the program on the same day. The new model launched by X detects duplicate content three times more efficiently than its predecessor. Even if reposters add watermarks, intros, or other modifications, monetization exposure for such content will belong to the original uploader—a rule that also applies to copied popular text posts. Bier added that the platform detected 1.5 million stolen posts during this cycle. Accounts engaging in repeated infringement or intentionally evading detection will be removed from the creator revenue sharing program. These adjustments will result in over $1 million in revenue being redistributed to original content creators.

8 minutes ago

Bankless Co-founder: Bitcoin may have entered a sideways consolidation phase, with the bottom largely in place.

Bankless co-founder David Hoffman published an article stating that Bitcoin’s current trend faces two possible paths: sideways consolidation to bottom out, or one final round of panic selling. He opines that Bitcoin is more likely to enter a sideways grinding phase, with its bottom already largely formed.

8 minutes ago

SpaceX’s short interest ratio rose to 29% of its outstanding shares, with short positions totaling $25 billion.

As SpaceX’s share price has fallen back to near its IPO price, short sellers are rapidly increasing their bearish positions on the company. Data from S3 Partners shows that roughly 185 million SpaceX shares are currently sold short, accounting for about 29% of its publicly traded float, equivalent to around $25 billion in short positions. Three weeks ago, the estimated number of SpaceX shares sold short was just 40 million, making up 5% to 7% of its float. The stock has dropped roughly 20% cumulatively since July, and on Wednesday it briefly fell below its $135 IPO price for the first time. KeyBanc Capital Markets noted that when SpaceX went public, its publicly traded shares made up only 5% of its total share count of around 13 billion. The first batch of large-scale restricted shares is expected to unlock around the release of its second-quarter financial results, at which point roughly 11% of the total share base will become eligible for sale; multiple subsequent batches of restricted shares, each accounting for about 4% of total shares, will also be unlocked starting about 70 days after the IPO. Elon Musk’s roughly 42% stake in SpaceX remains locked until June 2027. The company’s 13th Starship test flight is scheduled for Thursday, which could impact market sentiment toward the stock.

8 minutes ago

Ansem: If PUMP delivers on its airdrop promises and improves community relations, the token could surge 10 to 15 times.

Renowned crypto KOL Ansem has published an article arguing that token buybacks alone do not effectively support valuation. Hyperliquid generates ~$800 million in annualized revenue, while Pump.fun brings in around $440 million annually. Both platforms regularly use a portion of profits to repurchase tokens, yet Hyperliquid’s fully diluted valuation (FDV) stands at roughly $65 billion, compared to Pump.fun’s mere $1.4 billion. He notes that the valuation gap between the two is not primarily driven by revenue, but by the "trust premium" shaped by team conduct and market decisions. Hyperliquid rarely overpromises, consistently rolls out products, and rewards core users per preset metrics, fostering strong trust between its team and community. By contrast, Pump.fun has generated $1 billion in cumulative revenue and raised $1 billion via ICO, but has yet to deliver on its previously promised user airdrop. Ansem believes that if Pump.fun fulfills the airdrop and addresses core users’ concerns, PUMP’s price could surge 10 to 15 times, while boosting the platform’s trading volume, visibility, and revenue growth. He also cited Bitcoin as an example: the cryptocurrency has no revenue, yet boasts a $1.3 trillion market cap, with its value rooted in its fixed 21 million coin supply and the trust built from the network’s ongoing operation. Beyond tangible metrics like revenue, trust, meme effects, and attention are also key factors influencing asset valuation.

8 minutes ago

Keyrock acquires BlockFills' institutional trading and brokerage business for $3.25 million

Keyrock has completed the acquisition of BlockFills' institutional trading and brokerage business, with the deal covering its trading technology, institutional client relationships, and derivatives trading team. The acquisition will also expand Keyrock's regulatory scope, including an entity registered with the Cayman Islands Monetary Authority and another UK entity seeking authorization from the Financial Conduct Authority (FCA). Keyrock did not disclose the transaction price in its announcement. Per prior court documents and disclosures from company representatives, the total acquisition value is $3.25 million, payable in two installments, with certain arrangements subject to regulatory approval. BlockFills suffered major losses during the February 2026 crypto market crash, after which it filed for Chapter 11 bankruptcy protection in the U.S. Keyrock was ultimately selected as the buyer in the firm's bankruptcy proceedings.

8 minutes ago

Serenity: Declines in storage and AI-related crypto assets likely stem from deleveraging and cascading margin liquidations.

Serenity noted that Micron Technology announced today it has signed a long-term memory agreement with Qualcomm, but Micron’s stock price still fell by 5.37% following the announcement. He believes that, with multiple structural agreements continuing to take effect, the current decline does not appear to stem from issues with storage or AI stocks themselves. The related drop is more likely due to the winding down of deleveraging and margin call liquidation chains.

8 minutes ago

Hyperion DeFi has committed 500,000 HYPE tokens to support institutional perpetual futures listings on Hyperliquid through a new agreement with Skew Technologies.

Summary

Hyperion DeFi will deploy 500,000 HYPE tokens to support institutional perpetual futures markets on Hyperliquid. The agreement gives Hyperion an equity stake in Skew Technologies and a share of revenue from listing services. The partnership expands institutional use of Hyperliquid’s HIP 3 framework for launching custom perpetual markets. According to a Wednesday press release, the Nasdaq-listed company will deploy the tokens under Hyperliquid’s HIP-3 permissionless listings framework while receiving an equity stake in Skew Technologies and a share of the listing-service revenue generated through the platform.

The companies said the partnership is intended to help institutional clients launch custom perpetual futures markets on Hyperliquid, a layer-1 blockchain focused on perpetual futures trading.

Hyperion expands role in Hyperliquid ecosystem Under Hyperliquid’s HIP-3 framework, developers can create custom perpetual markets by posting HYPE as bonded capital, giving the token a use case beyond staking. The same infrastructure has recently been used to launch synthetic markets linked to assets outside crypto, including pre-IPO companies such as Chinese memory chipmaker ChangXin Memory Technologies.

Commenting on the agreement, Hyperion DeFi chief executive officer Hyunsu Jung said the company continued to receive requests from teams worldwide looking to launch and distribute new markets using Hyperliquid’s infrastructure while evaluating opportunities within HIP-3.

Rather than operating the markets directly, Skew Technologies will provide the listing service, while Hyperion contributes HYPE tokens required to support the permissionless listings under the agreement.

The arrangement also deepens Hyperion’s exposure to the Hyperliquid ecosystem beyond holding the token, with the company set to receive both an ownership interest in Skew and a portion of the revenue generated by the listing business.

Institutional activity around Hyperliquid continues to grow The latest announcement comes as institutional interest in Hyperliquid has continued to expand across several areas of the ecosystem.

Earlier this month, Bitwise added HYPE to its Bitwise 10 Crypto Index ETF (BITW), placing the token inside one of the industry’s largest diversified crypto index products after its latest index rebalancing.

At the same time, Hyperliquid has been attracting new infrastructure partnerships. Circle and Coinbase recently deepened USDC integration on the network, making USDC the platform’s preferred stablecoin, although JPMorgan said this week that the revised revenue-sharing structure could reduce long-term reserve income retained by Circle and Coinbase even as USDC adoption grows.

Recent HIP-3 deployments have also extended beyond crypto-native assets. Last week, Hyperliquid introduced a synthetic perpetual market tied to ChangXin Memory Technologies ahead of its Shanghai listing, showing how the framework can support custom derivatives linked to real-world and pre-IPO assets without giving traders ownership of the underlying securities.

On Wednesday, Hyperion DeFi, a publicly traded digital asset firm on NASDAQ, announced that it will lend 500,000 staked HYPE tokens—valued at approximately $33.6 million—to Skew Technologies. The purpose of this arrangement is to provide the necessary collateral for the development of new institutional perpetual futures markets on the Hyperliquid platform. This partnership highlights a growing approach among public crypto treasury companies to generate revenue from renting out token assets rather than letting them remain unused.

Details of the Hyperion-Skew agreementHyperliquid, a decentralized perpetual futures trading platform, introduced its HIP-3 market framework in October 2025. This structure enables external teams to establish custom perpetual futures markets by supplying a bond of 500,000 HYPE tokens. Hyperion, which controls a treasury of roughly 2 million HYPE tokens, has opted to lend the required collateral to Skew instead of creating a market itself. In this arrangement, Skew will manage the new market listings, while Hyperion serves as a “bonded-capital layer” for HIP-3 markets.

The lending structure utilizes Hyperion’s HYPE Asset Use Service (HAUS), a platform designed for monetizing idle token holdings. In exchange for providing the HYPE tokens as collateral, Hyperion receives both an equity stake in Skew and a share in listing service revenues. According to the firm, the revenue-sharing agreement includes fixed and scaling components that are not directly linked to trading volume, offering Hyperion a stable income stream regardless of market activity.

Skew, a company led by professionals with extensive institutional trading experience, will first focus on launching perpetual futures for its institutional clients before expanding into HIP-4 outcome-based markets. Founder David Gil noted that Hyperion’s involvement provides Skew with the necessary infrastructure and alignment to drive innovation and introduce a new breed of markets to Hyperliquid. However, the firms have not yet disclosed which products Skew will debut.

Mini dictionary: Hyperliquid is a decentralized crypto trading platform that allows users to trade perpetual futures using custom market structures such as HIP-3, which rely on teams providing token collateral as bond deposits to launch new markets.

Dave Knox, finance chief at Hyperion, explained via X that this collaboration underscores the firm’s Triple-Dip strategy and demonstrates Hyperion’s evolution beyond a digital-asset treasury model.

Hyperion CEO Hyunsu Jung also stated that the partnership reflects rising interest among project teams looking to launch markets within the Hyperliquid ecosystem, as more organizations explore leveraging token reserves for income-generating activities.

Traditional finance model on-chainThe new structure closely mirrors capital and collateral arrangements in traditional finance, where liquidity providers comply with bond or collateral requirements and delegate trading operations. By implementing this approach on-chain, Hyperion differentiates funding from market services and participates in profit sharing.

Hyperion recently shifted strategy, ending HAUS agreements with Felix and Native Markets in June 2026 following the retirement of their HIP-3 offerings, which were connected to Hyperliquid’s discontinued stablecoin, USDH. Hyperliquid has since switched to USDC by Circle for trade settlement, aiming to increase its broad appeal. The company maintains new HAUS contracts with other partners, including Silhouette, which is backed by investment firm RockawayX.

CompanyProduct/ServiceStatusFelixHIP-3 / USDHEnded (June 2026)Native MarketsHIP-3 / USDHEnded (June 2026)SilhouetteHAUS / USDCActiveFinancial performance and outlookHyperion reported that HIP-3 markets represented almost half of Hyperliquid’s daily trading volume in the first quarter of 2026. The company stated it has repurchased and sequestered over 45 million HYPE tokens using network trading fee proceeds. Hyperion posted record net income of $8.8 million for Q1 and increased its full-year adjusted gross profit target to between $5 million and $7 million.

While Hyperion’s earnings and business outlook remain positive, there are still unknowns. Skew has not revealed which specific markets it will introduce, and Hyperliquid remains inaccessible in the United States, where major exchanges like CME Group and Intercontinental Exchange are urging the Commodity Futures Trading Commission to enhance regulatory oversight. The sector is now watching to see whether Skew’s futures markets will gain significant traction, and if other crypto treasury firms will pursue similar token-lending models to monetize their reserves.

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.

T. Rowe Price, which manages nearly $2 trillion in assets, has launched the first active crypto ETF, which provides exposure to crypto assets such as Bitcoin, Ethereum, XRP, and Hyperliquid. Bloomberg analyst Eric Balchunas had previously said that this launch was notable because the asset manager was the largest active manager to enter the crypto space.

T. Rowe Price Unveils First Active Crypto ETF In a press release, the asset manager announced the launch of the first active crypto ETF, which began trading on the NYSE Arca today under the ticker TKNZ. “The fund is the first actively managed multi-token spot exchange-traded product* offered in the marketplace,” the firm noted.

The T. Rowe Price Active Crypto ETF notably offers exposure to Bitcoin, Ethereum, BNB, XRP, Solana, and Hyperliquid. The Fund will also hold top meme coins Dogecoin and Shiba Inu, making it the first U.S. Fund to offer spot exposure to SHIB.

The asset manager also noted that the crypto ETF is designed to capitalize on emerging trends, momentum-driven rallies, and market rotations among crypto assets. Meanwhile, the Fund will offer a net fee waiver, which will be effective until May 31, 2027. The management fee during this period will be 0.75%.

The T. Rowe Price Active Crypto ETF joins a host of other crypto ETFs that have launched this year, including the Hyperliquid ETFs. As CoinGape reported, Morgan Stanley’s Ethereum and Solana ETFs are about to launch, with the Wall Street giant filing amendments to its S-1.

‘Smart Timing’ For The ETF Launch Bloomberg analyst Eric Balchunas commended T. Rowe Price for the timing of the launch of its active crypto ETF. “I think they were smart with the timing- waiting till the Oct selloff dust settled a bit,” he said in an X post.

T Rowe Price’s Active Crypto ETF $TKNZ is ready for launch. Any day now, I’d guess Thursday. I think they were smart with the timing- waiting till the Oct selloff dust settled a bit. pic.twitter.com/5LZO5WHrqn

— Eric Balchunas (@EricBalchunas) July 14, 2026

It is worth noting that the SEC had approved the crypto ETF last month but waited until now to launch the Fund. The asset manager had first filed for the month in October last year, around the time of the infamous crypto crash.

Meanwhile, Balchunas had previously said that the T. Rowe Price Active Crypto ETF was notable because the asset manager was “by far the biggest active manager to apply their active prowess to this space.”

Keyrock acquires BlockFills' institutional trading and brokerage business for $3.25 million

Keyrock has completed the acquisition of BlockFills' institutional trading and brokerage business, with the deal covering its trading technology, institutional client relationships, and derivatives trading team. The acquisition will also expand Keyrock's regulatory scope, including an entity registered with the Cayman Islands Monetary Authority and another UK entity seeking authorization from the Financial Conduct Authority (FCA). Keyrock did not disclose the transaction price in its announcement. Per prior court documents and disclosures from company representatives, the total acquisition value is $3.25 million, payable in two installments, with certain arrangements subject to regulatory approval. BlockFills suffered major losses during the February 2026 crypto market crash, after which it filed for Chapter 11 bankruptcy protection in the U.S. Keyrock was ultimately selected as the buyer in the firm's bankruptcy proceedings.

5 minutes ago

Serenity: Declines in storage and AI-related crypto assets likely stem from deleveraging and cascading margin liquidations.

Serenity noted that Micron Technology announced today it has signed a long-term memory agreement with Qualcomm, but Micron’s stock price still fell by 5.37% following the announcement. He believes that, with multiple structural agreements continuing to take effect, the current decline does not appear to stem from issues with storage or AI stocks themselves. The related drop is more likely due to the winding down of deleveraging and margin call liquidation chains.

5 minutes ago

1inch co-founder Anton Bukov stated he was fired at the end of November 2025 and announced the launch of a new project, Second Tier.

1inch co-founder Anton Bukov published a statement saying he was fired at the end of November 2025. While he remains a co-founder of the decentralized exchange aggregator and holds a 50% stake, he is no longer involved in the company’s operations, product architecture, security design, or related oversight duties. Since co-founding 1inch in May 2019, Bukov led work on protocol architecture, security, and economic model design, and contributed to launching key products including the 1inch Router, 1inch Fusion, cross-chain atomic swaps, and shared liquidity automated market makers (AMMs). Bukov noted that feedback from users and team members over the past year led him to realize he could not stay on the sidelines of the company’s management and operations. He subsequently spent months learning leadership and communication skills and driving internal changes, before being dismissed in late November 2025. He also announced the launch of a new project called Second Tier, with plans to collaborate with like-minded teams to build secure, efficient systems that bridge the gap between economic intent and real-world execution.

5 minutes ago

Loss-making small-cap stocks in the Russell 2000 Index have risen 154% since mid-2025, while profitable companies have gained only 34%.

The Kobeissi Letter stated that companies in the Russell 2000 index with negative earnings per share (EPS) have risen a cumulative 154% since mid-2025, while those with positive EPS have only gained 34% over the same period. So far this year, unprofitable companies in the Russell 2000 have climbed 45%, outperforming profitable firms' 18% rise. Driven by this trend, the Russell 2000 has rallied 20% year-to-date, on track to post its best annual performance since 2003. In comparison, the S&P 500 has gained 11% over the same period, while the US tech "Magnificent Seven" has risen just 4%. The top-performing small-cap stocks are mainly tech and infrastructure firms poised to benefit from AI spending. The market is rewarding AI-related exposure, regardless of whether the companies are profitable or not.

5 minutes ago

Injective has submitted a transfer agent registration application to the U.S. SEC.

Injective has submitted a transfer agent registration application to the U.S. Securities and Exchange Commission (SEC), a move to bring core traditional financial market functions onto the blockchain. If the application is approved, the Injective network plans to maintain official ownership records for tokenized securities and real-world assets (RWA) directly on-chain.

5 minutes ago

Bank of America CEO joins ranks of banking executives warning about risks of Mythos AI

Bank of America CEO Brian Moynihan has joined a host of Wall Street leaders in voicing serious concerns over AI models such as Mythos developed by Anthropic. “This marks a huge shift in workload, and also relates to how quickly these tools can impact system vulnerabilities, as well as how fast we need to respond,” Moynihan said. In recent months, the rapid evolution of AI models has prompted the financial industry and the U.S. government to begin assessing potential threats. Anthropic claims that Mythos, which launched earlier this year, excels at identifying system vulnerabilities. Bank of America is among the Wall Street institutions granted access to Mythos; the bank has used the model to test its own systems and share information with peers. The model is not yet open to the public. Earlier this week, JPMorgan Chase CEO Jamie Dimon warned that widespread public access to the system would be “as dangerous as handing a ballistic missile to an individual.” (Jinshi)

5 minutes ago

Bitcoin traded flat near the $64,600 mark on Thursday as easing inflation and rising geopolitical tensions kept investors cautious. The world's largest cryptocurrency was last trading at $64,560.

Over the past 24 hours, Bitcoin slipped 0.42%, while Ethereum gained 2.24% to trade at $1,917. Among major altcoins, BNB and XRP rose 0.45% and 0.51%, respectively, while Solana, Tron, Hyperliquid, Dogecoin and Cardano fell by up to 0.95%.

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Vikram Subburaj, CEO of Giottus, said softer-than-expected U.S. consumer and producer inflation data eased concerns over an immediate Federal Reserve rate hike. However, renewed geopolitical tensions and higher crude oil prices prevented a stronger risk-on rally.

He advised investors to avoid chasing short-term breakouts, adding that staggered accumulation, limited leverage and disciplined position sizing remain preferable until Bitcoin sustains above $65,500 and ETF inflows become more consistent.

According to CoinMarketCap, the global cryptocurrency market capitalisation edged up 0.1% to $2.22 trillion. The CoinDCX Research Team said Bitcoin touched a local high above $65,600, driven by nearly $209 million in short liquidations. It also noted that crypto ETFs other than Bitcoin and Ethereum saw virtually no activity.

Over the past week, Bitcoin and Ethereum gained 2.41% and 9.25%, respectively. Among major altcoins, BNB, XRP and Dogecoin rose by up to 1.61%, while Solana, Tron and Hyperliquid declined by up to 2.03%.

The CoinSwitch Markets Desk said Bitcoin climbed to a three-week high of $65,500 after U.S. producer inflation fell 0.3% month-on-month, reinforcing the softer CPI print released a day earlier, before easing below $65,000.

It added that Bitcoin now faces resistance around $67,200. A sustained breakout above this level could pave the way toward $70,000. However, traders remain cautious as the cryptocurrency approaches its 50-month exponential moving average (EMA), which has historically acted as a key resistance level during bearish phases.

Here’s what another analyst said:

Avinash Shekhar, Co-founder and CEO of Pi42, said the crypto market is showing encouraging signs of renewed institutional confidence, with Bitcoin supported by fresh ETF inflows while Ethereum continues to attract attention ahead of potential catalysts in the second half of the year.

He advised investors to build positions gradually with a disciplined approach rather than react to daily price swings or speculative narratives.

Also Read | ICICI Lombard General Insurance shares tumble 15% after Q1 profit takes a hit

Riya Sehgal, Research Analyst, Delta Exchange, said: “Bitcoin is still struggling to establish acceptance above the $65,000-$66,000 resistance zone. The first key support lies near $64,200. Ethereum continues to display stronger relative momentum, although its Relative Strength Index (RSI), at around 71, indicates overextended conditions.”

Nischal Shetty, Founder, WazirX, said: “The crypto market is witnessing renewed optimism as softer inflation data has eased concerns over further interest rate hikes. Lower rate expectations typically improve liquidity for risk assets, and signs of institutional confidence are already emerging, with both Bitcoin and Ethereum spot ETFs recording fresh inflows last week.”

(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own and do not represent the views of The Economic Times)

Hyperion DeFi, the NASDAQ-listed company trading under HYPD, is putting 500,000 staked HYPE tokens to work. The tokens are being deployed to Skew Technologies through a HYPE Asset Use Service (HAUS) agreement, giving Skew the economic backing it needs to launch perpetual futures markets on Hyperliquid’s HIP-3 permissionless infrastructure.

In return, Hyperion gets equity ownership in Skew plus a cut of the revenues generated from listing services. The revenue share has both fixed and scaling components, meaning Hyperion earns a baseline regardless of how much volume Skew’s new markets attract, while also participating in the upside if trading activity takes off.

How the deal actually works HIP-3, which went live on October 13, 2025, requires anyone deploying a new market to maintain 500,000 staked HYPE as what’s called “alignment capital.” That’s a meaningful barrier to entry, designed to ensure deployers have real skin in the game and face slashing risks if they misbehave.

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Through the HAUS agreement, effective July 15, 2026, Hyperion essentially lends its staked position to Skew, which can then spin up new HIP-3 perpetual futures markets without needing to source and lock up half a million HYPE tokens on its own.

Skew’s initial focus will be on perpetual futures through HIP-3, with plans to eventually expand into outcome-based markets under HIP-4 once the core perps business reaches operational stability.

Why Hyperion is betting big on infrastructure Hyperion DeFi holds the distinction of being the first US publicly listed company built around the Hyperliquid ecosystem. Hyperion CEO Hyunsu Jung has pointed to growing global demand for HIP-3 launches as a key driver behind the company’s HAUS strategy.

This isn’t Hyperion’s first HAUS agreement. The company previously partnered with Felix Foundation in late 2025 under a similar arrangement. Recent reports also indicate Hyperion has been unwinding some of its other HYPE deployment deals.

What Skew brings to the table Skew Technologies is founded by a team with experience in financial markets and institutional trading. David Gil, Skew’s founder, has framed this partnership as a foundation for innovative institutional trading products, suggesting the company sees HIP-3 as a launchpad rather than an endpoint.

What this means for investors For Hyperion shareholders, each HAUS agreement transforms staked tokens into equity positions and revenue streams. The fixed component of the revenue share provides downside protection, while the scaling component offers leverage to trading volume growth.

The risk side of the equation centers on slashing. HIP-3’s alignment capital is actively at risk. If a market operator behaves badly or a technical failure triggers slashing conditions, Hyperion could lose a substantial portion of its deployed capital.

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

Binance launches three U.S. ETF perpetual contracts, offering up to 25x leverage.

According to official announcements, Binance has launched multiple USDT-margined TradFi perpetual contracts, including MUUUSDT, SOXSUSDT, and TZAUSDT perpetual contracts. MUUUSDT corresponds to Direxion Daily MU Bull 2X ETF (MUU), which tracks the daily 2x return performance of Micron Technology. SOXSUSDT corresponds to Direxion Daily Semiconductor Bear 3X Shares (SOXS), tracking the daily 3x inverse performance of the NYSE Semiconductor Index. TZAUSDT corresponds to Direxion Daily Small Cap Bear 3X Shares (TZA), tracking the daily 3x inverse performance of the Russell 2000 Index.

11 minutes ago

Ostium trading remains suspended, with user margin still frozen.

Perpetual decentralized exchange (Perp DEX) Ostium stated in a post that platform trading remains suspended following the security incident. User positions are still open but cannot be modified temporarily; trading margin remains in the frozen smart contract and has not been moved. Ostium added that its team is continuing to coordinate with relevant authorities, SEAL 911, and multiple security researchers, and will release updates on the timeline for smart contract activity resumption and fund recovery. According to PeckShield’s monitoring, Ostium’s public OLP vault was hacked for approximately 24 million USDC, with the attacker subsequently converting the funds to around 12,100 ETH, of which about 10,500 ETH has been transferred to Tornado Cash.

11 minutes ago

The China-South Korea Semiconductor ETF on the A-share market saw its afternoon decline widen to 5%.

According to market data, the semiconductor sector in China's A-share market continued to weaken in the afternoon, with the decline of China-South Korea semiconductor-related ETFs expanding to 5%.

11 minutes ago

TSMC expects demand to remain strong in Q3, with its full-year revenue coming in higher than earlier forecasts.

TSMC (TSM.N) announced that it expects its third-quarter revenue this year to range between $44.6 billion and $45.8 billion, compared to its Q3 2025 revenue of $33.1 billion. The chipmaker projects demand will remain strong in the third quarter, and forecasts its U.S. dollar-denominated revenue growth for 2026 will be slightly above 40%, an upward revision from its earlier forecast of over 30%.

11 minutes ago

HTX DAO completes Q2 token burn, with HTX’s cumulative burn exceeding 100 trillion tokens.

According to an official announcement from HTX DAO, the second-quarter 2026 HTX token burn was completed on July 15. On-chain data shows that a total of 7,474,935,439,560 HTX tokens were burned in this round, worth over $13.6 million. To date, the cumulative amount of HTX burned and donated has reached 117.79 trillion tokens. Burn details: https://tronscan.org/transaction/06b58562732cbff13ce6a3b2a0556f6ffefd158b4cc4313968750923c779810d/overview. In the first half of this year, HTX DAO’s two-quarter combined burn exceeded $32.82 million. Against the backdrop of intensified market liquidity competition this year, HTX has still been able to consistently execute quarterly burns worth tens of millions of dollars, showcasing strong operational resilience and anti-cyclical capabilities.

11 minutes ago

Bitget has added 16 US stock tokens (rTokens), including Kroger, Jabil, and other companies.

Bitget has launched 16 US stock tokens, including rXBI (S&P Biotech ETF-SPDR), rDIA (SPDR Dow Jones Industrial Average ETF Trust), rKSTR (SSE STAR 50 Index ETF), rJBL (Jabil), rKR (Kroger), covering sectors such as finance, healthcare, information technology and industrials. The rTokens, marked with the prefix "r" plus stock tickers (e.g., NVIDIA is rNVDA), are issued by Reality, a licensed RWA protocol under Bitget, which connects directly to global liquidity pools like NASDAQ and NYSE via cooperation with regulated broker Alpaca. Its key features include: 1:1 reserve of underlying assets held by licensed custodians; stock dividends distributed 1:1 in token form; support for synchronous mapping of corporate actions (such as stock splits and consolidations); and positions can be used as combined margin for unified accounts and USDT-denominated contracts, allowing users to flexibly manage funds while holding global stock assets.

11 minutes ago

Hyperliquid (HYPE) strengthened its position among decentralized trading platforms this week, as the token maintained a bullish outlook amid recent market consolidation. Analysts observed a consistent uptrend in HYPE, noting that its growing trading activity and strong fee generation signal increasing adoption and long-term growth potential.

HYPE price trends and resistance levelsHYPE traded at $68.37 with a 24-hour trading volume of $431.18 million and a market capitalization of $17.3 billion. The token recorded a 5.27% gain in the past day, reflecting investor optimism and renewed buying activity.

Renowned crypto analyst Michael van de Poppe commented that HYPE has maintained a bullish technical structure despite a temporary dip below its 21-day and 50-day moving averages. He noted that the recent retracement appears to be short-term consolidation, as buyers continue to protect essential support levels, indicating the market remains favorable for further upside movement.

Market analysts emphasized that if HYPE convincingly breaks above the $68.88 resistance level, the token could initiate another bullish move, potentially testing previous highs.

Technical indicators suggest that, should the breakout hold, HYPE may advance toward the $100 price mark. However, the outcome will depend on the prevailing market sentiment and the token’s ability to maintain upward momentum.

Hyperliquid’s fee revenue surpasses major blockchainsBeyond price action, Hyperliquid’s rising protocol fees demonstrate its expanding influence among decentralized exchanges. Data from Hyperliquid Daily reported that the platform collected $2.4 million in protocol fees within the past 24 hours, outpacing established blockchains such as Solana, Ethereum, BNB Chain, Robinhood, and Lighter.

This substantial fee revenue highlights Hyperliquid’s ability to attract high trading volumes and participant activity, reinforcing its market leadership in decentralized perpetual trading.

Analysts attribute this growth to increased demand for Hyperliquid’s products and traders’ preference for its platform. The platform’s decentralized architecture and competitive features have drawn a growing user base, leading to consistent fee growth.

Mini dictionary: Hyperliquid is a decentralized trading platform focused on perpetual contracts, enabling traders to engage in leveraged trading with a transparent, non-custodial system. Protocol fees are service charges collected from transaction execution on the network, which contribute to the platform’s revenue.

PlatformDaily Fee RevenueHyperliquid$2.4 millionSolanaBelow $2.4 millionEthereumBelow $2.4 millionBNB ChainBelow $2.4 millionRobinhoodBelow $2.4 millionLighterBelow $2.4 millionMarket outlook: Next targets for HYPEWith positive market momentum and strong fee revenues, analysts project an upward trajectory for HYPE if the bullish breakout is confirmed. Current resistance may create temporary consolidation, but a move above this barrier could extend the recent rally, drawing further attention to the token.

Should HYPE surpass the crucial resistance, technical forecasts anticipate a potential climb towards the $100 level, provided investor sentiment remains supportive.

The broader crypto market has also shown positive signals, as BTC’s price recovery supports increased interest in alternative tokens like HYPE. Market participants are looking to see if HYPE can sustain its lead in daily revenue and continue its rise.

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.

Multicoin Capital managing partner Tushar Jain detailed his valuation logic and investment framework for HYPE during an appearance on the "When Shift Happens" podcast. He noted that HYPE is currently severely undervalued, with a baseline valuation of $319, and recommended a pragmatic position-building strategy to navigate volatility. For bottom-fishing, Jain advised abandoning "perfect timing" in favor of the "one-third split entry method": the first third of the position is bought immediately; the second third is accumulated via dollar-cost averaging over a fixed schedule (e.g., in batches over 1-2 months); the final third is added opportunistically during dips. This approach significantly reduces psychological burden while locking in a favorable average cost for long-term bullish positions. Jain’s $319 baseline valuation is built on four conservative assumptions: 1) Crypto derivatives trading volume maintains a 35% compound annual growth rate over the next two years; 2) DeFi derivatives’ market share rises to 32%; 3) USDC collateral balances grow in line with trading volume; 4) The "fake boom" driven by subsidies from some project teams will vanish as subsidies are phased out, allowing Hyperliquid’s actual market share to rise further. Even under these conservative scenarios, HYPE’s current price has substantial upside, with some optimistic projections putting it above $600. On Hyperliquid’s broader outlook, Jain argued that the protocol is far more than a fast-growing perpetual contract platform, and has the potential to become a core pillar of crypto financial infrastructure.

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Hyperliquid, a decentralized crypto derivatives exchange, has added ChangXin Memory Technologies (CXMT), China’s leading DRAM manufacturer, to its platform. This move comes shortly after the platform introduced the CSI STAR Market 50 ETF, offering overseas investors broader exposure to China-linked equities.

With the inclusion of CXMT, Hyperliquid now provides users access to a prominent player in China’s semiconductor industry. CXMT is widely recognized as the largest DRAM producer in China by production capacity and ranks fourth globally in the same category.

The introduction of CXMT gives Hyperliquid users a pathway to engage with A-share assets that are traditionally accessible only through mainland Chinese exchanges. Investors outside China often face significant entry barriers for such assets, notably a minimum account requirement of RMB 500,000 for STAR Market participation. Hyperliquid’s listing may ease this restriction for global market participants.

A-share assets refer to equity shares listed on China’s Shanghai and Shenzhen stock exchanges, quoted in Chinese yuan and generally restricted to domestic investors. The STAR Market, a technology-focused board, is known for listing innovative growth companies within China’s rapidly expanding tech landscape.

Mini dictionary: Hyperliquid is a decentralized exchange specializing in perpetual futures, known for providing synthetic access to both crypto assets and tokenized versions of traditional equities for global users.

In recent updates, Hyperliquid listed ChangXin Memory Technologies following its CSI STAR Market 50 ETF listing, allowing overseas investors new avenues to access China’s equity markets that typically require a minimum account threshold of RMB 500,000 on domestic exchanges.

AssetMarketAccess Requirement (Traditional)Access via HyperliquidCXMTSTAR Market (A-share)RMB 500,000 min. accountNo minimum, available to global usersCSI STAR Market 50 ETFSTAR Market (A-share)RMB 500,000 min. accountNo minimum, available to global usersCXMT’s rise ahead of a possible record IPOWu Blockchain, a prominent crypto and blockchain news source, reported that CXMT leads China’s DRAM manufacturing sector. DRAM, or dynamic random-access memory, is an essential component for smartphones, computers, servers, and AI hardware.

CXMT is reportedly preparing for a significant public offering. Industry sources noted that it has secured the second-largest funding round in the history of the STAR Market, trailing only Semiconductor Manufacturing International Corporation (SMIC). Several Chinese financial media outlets suggest that CXMT could achieve the largest initial public offering in the history of China’s A-share market.

Industry observers point out that CXMT, as China’s dominant DRAM producer, is positioned to attract substantial global attention due to both its market leadership and its plans for a high-profile IPO.

The growing profile of CXMT signals increased international interest in China’s technology sector, particularly for investors seeking exposure to the country’s booming semiconductor industry.

HYPE token price outlook remains bullishAs Hyperliquid’s platform activity intensifies, traders continue to monitor the HYPE token, the platform’s native asset. Crypto analyst Michaël van de Poppe commented that HYPE’s technical chart remains bullish, even after the token fell below its 21-day and 50-day moving averages.

Moving averages are widely used by traders to identify trends and resistance levels over set periods. Despite the current dip, van de Poppe maintains that sentiment remains positive as long as HYPE can surpass key resistance points.

Van de Poppe identified €60 as the crucial resistance level that, if broken, could trigger a strong rally. He projected that sustained momentum above this threshold could potentially drive the HYPE token towards the $100 mark, attracting renewed trading interest.

TokenCurrent key levelProjected target (if breakout)HYPE€60$100Market participants will be closely watching further developments in Hyperliquid’s asset listings, along with price action in both the HYPE token and new listings such as CXMT.

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.

English한국어日本語繁體中文ไทยPortuguêsItalianoDeutschFrançaisEspañol 分散型取引所Hyperliquidは、 ChangXin Memory Technologiesに連動したプレIPOパーペチュアル先物契約を上場した。中国最大のDRAMメーカーである同社の上海STARマーケットへの上場（7月27日）を前にした動きだ。

この契約は7月15日時点で8ドル近辺で取引され、約5350億ドルの評価額を示唆している。これはCXMTの公式IPO価格である1株あたり人民元8.66元に対して約526%のプレミアムに相当する。

合成レール上に示された5350億ドルの想定評価額 CXMTは新規株式公開（IPO）の価格を1株あたり人民元8.66元に設定し、オーバーアロットメント・オプションを含まない段階で約人民元579億元（85.5億ドル）の資金調達を見込んでいる。 ロイターの報道によれば、この取引は2026年のアジア最大のIPOとなり、SMICの2020年の株式売却を上回る中国A株半導体関連としては最大規模の公開となる見通しだ。

CXMTの上場後の想定株式総数668億8100万株を基準にすると、Hyperliquidの契約価格8ドルは公式IPO評価額の約6.3倍に相当する市場価値を示している。STARマーケットでの公開に対する投資家の申込みは7月16日に開始される。

この契約はHyperliquidの HIP-3フレームワークを通じて上場したもので、これは第三者のデプロイヤーが暗号資産以外の資産に連動したパーペチュアル市場を作成できる仕組みだ。CXMTの上場に先立ち、HyperliquidはCSI STARマーケット50 ETF契約を追加しており、中国テック株への意図的な事業拡大を示していた。

プレミアムが公正価値を示さない可能性 Injective LabsのCEO兼共同創業者であるEric Chen氏は、プレIPOパーペチュアルについて6月にCNBCの取材で「こうした市場は非常にアクティブでリスク許容度の高いトレーダーが支配しており、他のプレIPO銘柄と比べて巨大なプレミアムを織り込んでいるわけではない」と語っている。

この指摘はCXMTの契約にも当てはまる。526%という価格差は、限られたトレーダー層の間での合成デリバティブの価格形成を反映したものであり、株式評価としての市場全体の合意を示すものではない。

中国のSTARマーケットでは、個人投資家は人民元50万元の資産要件と2年間の取引経験要件を満たす必要がある。つまりHyperliquidの契約は、このIPOに対する海外個人投資家のエクスポージャーを可能にする数少ない手段のひとつとなっている。

Hyperliquid、株式デリバティブ層の構築を進める CXMTの上場は、これまでの流れに沿った動きだ。Hyperliquidは6月のNasdaq上場の数か月前からSpaceXのプレIPOパーペチュアルを提供しており、 Coin Metricsの報告によれば、以前上場していたCerebrasのプレIPO契約は、実際の初値取引価格からわずか1.3%以内という精度で価格を示していた。同プラットフォーム上のプレIPO市場全体の累積取引高は14.6億ドルを超えている。

こうした実績は、Hyperliquidを単なる投機的な場としてではなく、企業が従来型の取引所に到達する前の新興の価格発見レイヤーとして位置づけている。より広い文脈もこの動きに重みを与える。CXMTはSamsung Electronics、SK Hynix、Micronに次ぐ世界第4位のDRAMメーカーであり、直近の市場推定では世界DRAM市場におけるシェアは約8%とされている。

同社は、中国が海外のチップ供給への依存を減らすために国内半導体生産に投資する中で急速に事業を拡大してきた。この戦略は、先進メモリ技術に対する米国の輸出規制によってさらに加速している。今後注目されるのは、CXMTの申込みが7月16日に開始され、株式が7月27日に取引を開始した後、526%のプレミアムが縮小するかどうかだ。

CXMTはまた、Tencentとの間で人民元200億元（2.94億ドル）を超える長期メモリ供給契約を開示しており、株式取引が開始された後は機関投資家の関心を支える契約となる可能性がある。この上場は、オンチェーンデリバティブが、世界市場への十分なアクセスを持たない企業にとって信頼できるプレIPO価格発見の手段となり得るかどうかを試す試金石となる。

About the Author: Damilola Esebame

Damilola Esebame is a finance journalist and content strategist specializing in DeFi, crypto, macroeconomics, and FX. With eight years of editorial experience, he delivers data-backed explainers, interviews, and market updates that turn complex on-chain themes into practical insights. At FinanceFeeds he maps the DeFi landscape—stablecoins, tokenization, liquidity, and policy—linking digital-asset developments to macro drivers and market structure for brokers and platforms.

According to monitoring by OnchainLens, a trader has taken large long positions on Hyperliquid, with a total position value of $13.31 million. Current holdings: Bitcoin worth $5.87 million, 40x leverage, average entry price of $65,473; Solana (SOL) worth $5.5 million, 20x leverage, average entry price of $78.8; Ethereum worth $1.93 million, 25x leverage, average entry price of $1,939.

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