Track market-moving stories before they get noisy

AI-related US stocks staged a V-shaped reversal, with most recouping their opening losses.

Per Bitget market data, AI-related US stocks staged a V-shaped reversal tonight, with most erasing their post-opening declines. Micron Technology is down 3% after hitting an intraday low of 8%. Marvell Technology (MRVL) turned positive, currently up 0.49% following an over 5% intraday drop. Corning (GLW) and CommScope Holding (CBRS) rallied more than 10%. Storage stocks Western Digital (WDC) gained 8% and Seagate Technology (STX) rose 4%.

4 minutes ago

Due to a stock split, Binance will adjust the contract size of CRWD U-margined perpetual contracts.

According to an official announcement, the underlying asset of the CRWDUSDT perpetual contract will implement a 1-for-4 stock split of its issued Class A shares via a dividend distribution. Consequently, Binance will adjust the contract size of its CRWDUSDT U.S. dollar-margined perpetual contract at 08:00 (UTC+8) on July 2, 2026. The adjustment is projected to be completed by 21:30 (UTC+8) the same day. Post-adjustment, the contract will enter a 5-minute cancel-only phase.

4 minutes ago

CZ: I previously sent a message to Elon Musk to discuss cooperation based on X Money, and received a reply stating that X Money is currently not involved in cryptocurrency.

In an interview, CZ stated that when X Corp launched X Money, he sent a message to Elon Musk on X, inquiring whether Binance could become a partner. Musk responded that X Money is not currently venturing into the cryptocurrency space. CZ added that he hopes X will eventually evolve into a global payments platform, drawing a parallel between this opportunity and Starlink’s achievements in the internet access sector.

4 minutes ago

CZ comments on MicroStrategy: The company’s asset structure is overly complex, but he views Michael Saylor as a "steadfast Bitcoin supporter".

In an interview, CZ stated that Strategy’s preferred stock STRC structure is "too complicated", noting that "it took many attempts to understand STRC". The product relies on Bitcoin as underlying collateral, creating a structural contradiction: while Bitcoin’s long-term appreciation thesis may be valid, its volatility makes it a challenging base for leverage instruments. CZ also emphasized he is not commenting on founder Michael Saylor’s credibility, describing him as a "firm Bitcoin supporter".

4 minutes ago

CZ: Binance’s Greek MiCA license application was nearly approved, but was forced to withdraw due to external factors.

In an interview, CZ stated that Binance’s MiCA license application submitted in Greece was fully compliant with regulatory requirements and near approval before being withdrawn, but the process was interrupted by "external political intervention". He added that multiple EU countries had expressed interest in the license, leading to a degree of "competitive lobbying", yet non-regulatory factors ultimately derailed the application, forcing its withdrawal. Binance officially pulled the Greek application last week and said it will shift to other EU member states to pursue MiCA authorization. Responding to market rumors linking Binance to senior EU political figures, CZ noted he has not seen any verifiable documents, only similar claims online, and has not confirmed them. He also pointed out that the EU MiCA transition period will end on July 1, after which unlicensed platforms must cease related services, with national regulators making clear they will not extend the deadline. CZ called the outcome a "lose-lose situation" and cited Japan and Singapore’s regulatory paths as examples, emphasizing compliance processes often require longer timelines.

4 minutes ago

Kraken is set to list the Bittensor subnet Alpha token.

Barry Silbert, founder and CEO of Digital Currency Group (DCG), parent company of Grayscale, reposted on X to disclose that crypto exchange Kraken is set to list Alpha tokens from Bittensor subnets. According to leaked details, the first batch of tokens to be listed includes Chutes, Targon, Score, Ridges AI, Hippius, and others.

4 minutes ago

AI-related US stocks staged a V-shaped reversal, with most recouping their opening losses.

Per Bitget market data, AI-related US stocks staged a V-shaped reversal tonight, with most erasing their post-opening declines. Micron Technology is down 3% after hitting an intraday low of 8%. Marvell Technology (MRVL) turned positive, currently up 0.49% following an over 5% intraday drop. Corning (GLW) and CommScope Holding (CBRS) rallied more than 10%. Storage stocks Western Digital (WDC) gained 8% and Seagate Technology (STX) rose 4%.

4 minutes ago

Due to a stock split, Binance will adjust the contract size of CRWD U-margined perpetual contracts.

According to an official announcement, the underlying asset of the CRWDUSDT perpetual contract will implement a 1-for-4 stock split of its issued Class A shares via a dividend distribution. Consequently, Binance will adjust the contract size of its CRWDUSDT U.S. dollar-margined perpetual contract at 08:00 (UTC+8) on July 2, 2026. The adjustment is projected to be completed by 21:30 (UTC+8) the same day. Post-adjustment, the contract will enter a 5-minute cancel-only phase.

4 minutes ago

CZ: I previously sent a message to Elon Musk to discuss cooperation based on X Money, and received a reply stating that X Money is currently not involved in cryptocurrency.

In an interview, CZ stated that when X Corp launched X Money, he sent a message to Elon Musk on X, inquiring whether Binance could become a partner. Musk responded that X Money is not currently venturing into the cryptocurrency space. CZ added that he hopes X will eventually evolve into a global payments platform, drawing a parallel between this opportunity and Starlink’s achievements in the internet access sector.

4 minutes ago

CZ comments on MicroStrategy: The company’s asset structure is overly complex, but he views Michael Saylor as a "steadfast Bitcoin supporter".

In an interview, CZ stated that Strategy’s preferred stock STRC structure is "too complicated", noting that "it took many attempts to understand STRC". The product relies on Bitcoin as underlying collateral, creating a structural contradiction: while Bitcoin’s long-term appreciation thesis may be valid, its volatility makes it a challenging base for leverage instruments. CZ also emphasized he is not commenting on founder Michael Saylor’s credibility, describing him as a "firm Bitcoin supporter".

4 minutes ago

CZ: Binance’s Greek MiCA license application was nearly approved, but was forced to withdraw due to external factors.

In an interview, CZ stated that Binance’s MiCA license application submitted in Greece was fully compliant with regulatory requirements and near approval before being withdrawn, but the process was interrupted by "external political intervention". He added that multiple EU countries had expressed interest in the license, leading to a degree of "competitive lobbying", yet non-regulatory factors ultimately derailed the application, forcing its withdrawal. Binance officially pulled the Greek application last week and said it will shift to other EU member states to pursue MiCA authorization. Responding to market rumors linking Binance to senior EU political figures, CZ noted he has not seen any verifiable documents, only similar claims online, and has not confirmed them. He also pointed out that the EU MiCA transition period will end on July 1, after which unlicensed platforms must cease related services, with national regulators making clear they will not extend the deadline. CZ called the outcome a "lose-lose situation" and cited Japan and Singapore’s regulatory paths as examples, emphasizing compliance processes often require longer timelines.

4 minutes ago

Kraken is set to list the Bittensor subnet Alpha token.

Barry Silbert, founder and CEO of Digital Currency Group (DCG), parent company of Grayscale, reposted on X to disclose that crypto exchange Kraken is set to list Alpha tokens from Bittensor subnets. According to leaked details, the first batch of tokens to be listed includes Chutes, Targon, Score, Ridges AI, Hippius, and others.

4 minutes ago

Hyper Foundation will allocate about $10 million in grants to help builders affected by the USDH sunset. The funding is meant to cover migration and wind-down costs as the Hyperliquid ecosystem moves more trading activity toward USDC.

Summary

Hyper Foundation will fund builders affected by the USDH sunset with about $10m in grants. Eligible teams include HIP-1, HIP-3, HyperEVM protocols, bridges and Native Markets. The grant plan supports a wider move from USDH markets toward deeper USDC liquidity. “Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs,” Wu Blockchain said. The post said eligible recipients include HIP-1 and HIP-3 deployers, HyperEVM protocols, USDH bridges and Native Markets.

Hyper Foundation Allocates $10M in Grants to Support USDH Migration

Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs. Grants will be distributed to eligible HIP-1 and HIP-3… pic.twitter.com/Hwy7ZNwswz

— Wu Blockchain (@WuBlockchain) June 28, 2026 The grants come with a clear deadline. Recipients must complete migrations or orderly shutdowns by the end of July. The plan gives affected builders a limited period to update markets, move liquidity, adjust bridges or close USDH-related services.

Eligible builders face July deadline HIP-1 deployers relate to spot market deployments, while HIP-3 deployers relate to perpetual market deployments. Both groups may need support because USDH served as a quote asset or liquidity route for some products. HyperEVM protocols and USDH bridge operators may also face direct technical changes.

Native Markets is also listed among eligible grant recipients. The firm won the validator vote to issue USDH in September 2025, beating larger bidders such as Paxos, Frax and Ethena. Its plan aimed to return reserve yield to the ecosystem through HYPE buybacks and ecosystem support.

The migration affects users as well as builders. Users holding USDH may need to convert balances, close positions or follow protocol-level migration steps. The officialUSDH migration page says the dashboard supports USDH to USDC and u.s. dollar fiat conversions until July 17, while the USDH/USDC spot order book will remain available.

USDC becomes the main stablecoin route The grant program follows Hyperliquid’s wider move toward USDC. Coinbase became the official USDC treasury deployer on Hyperliquid in May, strengtheningUSDC as the aligned quote asset across the ecosystem. The deal also gave Coinbase the right to purchase USDH brand assets from Native Markets.

“USDH remains fully backed and maintained, with feeless conversions into USDC and fiat for onboarded customers available on dashboard.usdh.com,” Native Markets said. The statement means users still have conversion routes while USDH markets move through the transition.

https://twitter.com/nativemarkets/article/2054894518055448628

The shift marks a change from the original USDH strategy. USDH launched to reduce reliance on outside stablecoin issuers and keep more reserve yield inside Hyperliquid. However, two stablecoin systems can split liquidity and add friction for traders. A move back toward USDC may simplify markets and reduce conversion steps.

Migration plan follows earlier stablecoin race The USDH sunset follows a competitive stablecoin race that drew wide attention across DeFi. Hyperliquid validators voted on the USDH ticker after proposals from Native Markets, Paxos, Frax, Agora and other teams.USDH later launched in a USDH/USDC pair and recorded more than $2 million in early trading.

The new grant plan now focuses on cleanup rather than expansion. Builders may need to change collateral settings, update front ends, move liquidity, close markets or support users during withdrawals. The July deadline gives the ecosystem a short window to finish those steps.

For Hyperliquid, the grants may reduce the risk of unfinished integrations and stranded liquidity. They also give builders a financial reason to complete the transition on time. The move shows how stablecoin strategy can change quickly when trading venues balance liquidity depth, user experience and reserve-yield economics.

Hyperliquid’s prediction market upgrade, HIP-4, just crossed a milestone that even its most optimistic backers probably didn’t expect this fast. Open interest on the platform reached an all-time high of approximately $24.77M, driven almost entirely by traders betting on who will lift the 2026 FIFA World Cup trophy.

The numbers behind the World Cup frenzy Weekly trading volume on HIP-4 hit $16.32M as of June 11, 2026. Of that, $9.63M, roughly 60%, came from World Cup price prediction markets alone. That represents a 20% increase week-over-week.

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Sports-related markets now account for approximately 99% of all live open interest on HIP-4. Total HIP-4 open interest has since grown to around $51M, with sports OI contributing $49.52M of that figure. The champion market, where traders wager on the outright World Cup winner, is the dominant contract by a wide margin.

France, Argentina, and Spain are attracting the heaviest action. Every position is fully collateralized and settled in stablecoins within the Hyperliquid ecosystem.

What makes HIP-4 different HIP-4 introduced fully collateralized binary outcome markets, meaning every contract resolves to either zero or one. The upgrade launched on Hyperliquid’s mainnet around May 2026, starting with recurring BTC binaries before expanding to the World Cup champion market.

One structural advantage that separates HIP-4 from competitors like Polymarket: it charges zero fees to open positions. Fees only apply when a position is closed or settled.

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

A crypto whale dormant for over a year spent 5,000 SOL to buy PUMP.

Per Lookonchain’s monitoring, a whale address dormant for over a year has resumed buying PUMP tokens, spending 5,000 SOL (about $358,000) to acquire 242.66 million PUMP. More than a year ago, the whale bought 10,957 SOL at an average price of $237 (worth roughly $2.6 million back then) and has since staked the entire amount. Despite earning 1,206 SOL in staking rewards, the sharp drop in SOL’s price means the whale’s total holdings now carry an unrealized loss of over $1.7 million, a loss of approximately 66%.

1 seconds ago

Foreign investors pulled massive capital out of South Korea's stock market, with net sales of KOSPI stocks hitting a new single-day record on Monday.

Foreign investors net sold KOSPI stocks worth 7.7 trillion won (approximately $4.98 billion) on Monday, marking the largest single-day sell-off on record.

1 seconds ago

The A-share semiconductor sector turned higher following South Korean stocks, with Huahai Qingke surging 19.01%.

On Monday morning, the A-share semiconductor sector briefly tracked a pullback in related South Korean stocks. The KOSDAQ index triggered a program trading circuit breaker during intraday trading, with a maximum drop of 3.8%. Chip giants Samsung Electronics and SK Hynix saw sharp opening dips, but the decline was soon halted by news of a new round of expansion in South Korea's storage chip chain. Earlier in the afternoon, the South Korean government released its latest industrial plan. President Lee Jae-myung stated that South Korea must push forward with the construction of chip production facilities as soon as possible, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and will allocate at least 30 trillion won over the next 15 years to semiconductor sectors including next-generation memory, edge AI, and defense. In response to the news, South Korea's KOSPI index turned from decline to gain in the afternoon, while related A-share stocks rebounded in tandem. Among them, Huahong Qingke surged 19.01%, Microtech Corporation rose 8.58%, Anji Technology gained 9.46%, Shanghai Silicon Industry climbed 11.30%, Coremax increased 9.06%, and Huace Testing & Control advanced 10.21%.

1 seconds ago

Japan and South Korea's stock markets closed higher.

According to Bitget market data, the Nikkei 225 index closed up 107.23 points on Monday, June 29, with a 0.15% gain, ending at 69,468.11 points, after earlier dropping more than 1%. South Korea’s KOSPI index rose 5.62 points on the same day, a 0.07% increase, closing at 8,416.83 points; the country’s KOSDAQ (its main tech-focused index) gained over 8% in the session. After Samsung and SK unveiled their investment plans, the KOSPI index erased a decline of up to 3.4% to turn positive intraday, while small-cap benchmark KOSDAQ also rebounded.

1 seconds ago

Iran's Deputy Foreign Minister: Convening the First Meeting of the Iran-Oman Joint Commission on the Strait of Hormuz

Iran's Deputy Foreign Minister announced that the first meeting of the Iran-Oman Joint Commission on the Strait of Hormuz was held.

1 seconds ago

Online reports indicate that South Korea’s previously expected aggressive investment of 2000 trillion won has materialized at 800 trillion won, easing market sentiment and triggering a minor rebound in the stock prices of Samsung and SK Hynix.

Hyperinsight’s monitoring shows that South Korea’s semiconductor sector rebounded in the afternoon. The previously-feared 2,000 trillion won investment plan was ultimately realized as a semiconductor project worth around 800 trillion won (approx. $518 billion). This is likely because capital expenditure pressure fell short of some market participants’ expectations, leading to eased risk aversion and narrowed losses. On Hyperliquid, SK Hynix (1H) rebounded by 4.5% at one point, currently quoted at $1,730; Samsung Electronics rose 2%, currently at $214. Currently, the average entry price of long positions for large holders of the two on-chain assets is $1,608 and $217.3 respectively, with Samsung Electronics trading below the moving average of long-position whales.

1 seconds ago

Hyper Foundation has announced a grant program worth approximately $10 million to support builders caught up in the wind-down of its USDH stablecoin. The grant program targets builders who built on top of USDH and now need to either migrate their projects to USDC or wind them down in an orderly fashion. The fund is designed to cover migration expenses or help projects shut down cleanly, with a deadline of end of July 2026.

Who Qualifies and How Grants Are Calculated Eligible recipients include HIP-1 spot deployers, HIP-3 perpetual deployers, HyperEVM protocols, dedicated USDH:USDC bridge operators, and Native Markets. The grants fall into two categories: migration grants support teams replacing USDH with USDC, while wind-down grants assist projects ending USDH-related operations. Wind-down grants will be smaller than migration grants, as teams that opt to move have more technical work and require extra resources.

Grant amounts for HIP-1 and HIP-3 participants are determined by the costs of deployment via auction, while grants to HyperEVM protocols are based on the amount of USDH total value locked impacted by the sunset. All eligible recipients have been reached out to and have started the transition process, the Foundation said. To smooth the transition for everyday users, feeless conversion paths to USDC are being made available, with bridges like Across on HyperEVM allowing traders to swap their USDH holdings for USDC without incurring transaction costs during the changeover period.

Why USDH Is Being Phased Out USDH is being phased out just seven months after its debut. Launched in September 2025 by Native Markets following a competitive governance vote, it was designed as a Hyperliquid-native, yield-generating dollar-pegged asset to reduce reliance on external stablecoins and redirect revenue back to $HYPE token holders. However, total stablecoins on Hyperliquid's L1 reached $5.31 billion, with USDC accounting for $4.97 billion (93.7%), while USDH held just $91.5 million (1.73%) and was shrinking.

Coinbase has since become Hyperliquid's official treasury deployer for USDC as an aligned quote asset (AQA), with USDH set to sunset over time as USDC expands its role within the ecosystem. As part of the transition, Native Markets has agreed to terms granting Coinbase the right to purchase the USDH brand assets. Half of the prior USDH reserve yield is being routed to $HYPE buybacks through the Assistance Fund, meaning the reserves that once backed USDH are partially being recycled into supporting the platform's native token on the way out.

Sources:
Crypto Briefing: Hyper Foundation allocates $10M in grants to ease USDH stablecoin shutdown
Live Bitcoin News: Hyperliquid Rolls Out $10M Grant Initiative for Builders

A crypto whale dormant for over a year spent 5,000 SOL to buy PUMP.

Per Lookonchain’s monitoring, a whale address dormant for over a year has resumed buying PUMP tokens, spending 5,000 SOL (about $358,000) to acquire 242.66 million PUMP. More than a year ago, the whale bought 10,957 SOL at an average price of $237 (worth roughly $2.6 million back then) and has since staked the entire amount. Despite earning 1,206 SOL in staking rewards, the sharp drop in SOL’s price means the whale’s total holdings now carry an unrealized loss of over $1.7 million, a loss of approximately 66%.

1 seconds ago

Foreign investors pulled massive capital out of South Korea's stock market, with net sales of KOSPI stocks hitting a new single-day record on Monday.

Foreign investors net sold KOSPI stocks worth 7.7 trillion won (approximately $4.98 billion) on Monday, marking the largest single-day sell-off on record.

1 seconds ago

The A-share semiconductor sector turned higher following South Korean stocks, with Huahai Qingke surging 19.01%.

On Monday morning, the A-share semiconductor sector briefly tracked a pullback in related South Korean stocks. The KOSDAQ index triggered a program trading circuit breaker during intraday trading, with a maximum drop of 3.8%. Chip giants Samsung Electronics and SK Hynix saw sharp opening dips, but the decline was soon halted by news of a new round of expansion in South Korea's storage chip chain. Earlier in the afternoon, the South Korean government released its latest industrial plan. President Lee Jae-myung stated that South Korea must push forward with the construction of chip production facilities as soon as possible, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and will allocate at least 30 trillion won over the next 15 years to semiconductor sectors including next-generation memory, edge AI, and defense. In response to the news, South Korea's KOSPI index turned from decline to gain in the afternoon, while related A-share stocks rebounded in tandem. Among them, Huahong Qingke surged 19.01%, Microtech Corporation rose 8.58%, Anji Technology gained 9.46%, Shanghai Silicon Industry climbed 11.30%, Coremax increased 9.06%, and Huace Testing & Control advanced 10.21%.

1 seconds ago

Japan and South Korea's stock markets closed higher.

According to Bitget market data, the Nikkei 225 index closed up 107.23 points on Monday, June 29, with a 0.15% gain, ending at 69,468.11 points, after earlier dropping more than 1%. South Korea’s KOSPI index rose 5.62 points on the same day, a 0.07% increase, closing at 8,416.83 points; the country’s KOSDAQ (its main tech-focused index) gained over 8% in the session. After Samsung and SK unveiled their investment plans, the KOSPI index erased a decline of up to 3.4% to turn positive intraday, while small-cap benchmark KOSDAQ also rebounded.

1 seconds ago

Iran's Deputy Foreign Minister: Convening the First Meeting of the Iran-Oman Joint Commission on the Strait of Hormuz

Iran's Deputy Foreign Minister announced that the first meeting of the Iran-Oman Joint Commission on the Strait of Hormuz was held.

1 seconds ago

Online reports indicate that South Korea’s previously expected aggressive investment of 2000 trillion won has materialized at 800 trillion won, easing market sentiment and triggering a minor rebound in the stock prices of Samsung and SK Hynix.

Hyperinsight’s monitoring shows that South Korea’s semiconductor sector rebounded in the afternoon. The previously-feared 2,000 trillion won investment plan was ultimately realized as a semiconductor project worth around 800 trillion won (approx. $518 billion). This is likely because capital expenditure pressure fell short of some market participants’ expectations, leading to eased risk aversion and narrowed losses. On Hyperliquid, SK Hynix (1H) rebounded by 4.5% at one point, currently quoted at $1,730; Samsung Electronics rose 2%, currently at $214. Currently, the average entry price of long positions for large holders of the two on-chain assets is $1,608 and $217.3 respectively, with Samsung Electronics trading below the moving average of long-position whales.

1 seconds ago

Foreign investors pulled massive capital out of South Korea's stock market, with net sales of KOSPI stocks hitting a new single-day record on Monday.

Foreign investors net sold KOSPI stocks worth 7.7 trillion won (approximately $4.98 billion) on Monday, marking the largest single-day sell-off on record.

1 seconds ago

The A-share semiconductor sector turned higher following South Korean stocks, with Huahai Qingke surging 19.01%.

On Monday morning, the A-share semiconductor sector briefly tracked a pullback in related South Korean stocks. The KOSDAQ index triggered a program trading circuit breaker during intraday trading, with a maximum drop of 3.8%. Chip giants Samsung Electronics and SK Hynix saw sharp opening dips, but the decline was soon halted by news of a new round of expansion in South Korea's storage chip chain. Earlier in the afternoon, the South Korean government released its latest industrial plan. President Lee Jae-myung stated that South Korea must push forward with the construction of chip production facilities as soon as possible, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and will allocate at least 30 trillion won over the next 15 years to semiconductor sectors including next-generation memory, edge AI, and defense. In response to the news, South Korea's KOSPI index turned from decline to gain in the afternoon, while related A-share stocks rebounded in tandem. Among them, Huahong Qingke surged 19.01%, Microtech Corporation rose 8.58%, Anji Technology gained 9.46%, Shanghai Silicon Industry climbed 11.30%, Coremax increased 9.06%, and Huace Testing & Control advanced 10.21%.

1 seconds ago

Japan and South Korea's stock markets closed higher.

According to Bitget market data, the Nikkei 225 index closed up 107.23 points on Monday, June 29, with a 0.15% gain, ending at 69,468.11 points, after earlier dropping more than 1%. South Korea’s KOSPI index rose 5.62 points on the same day, a 0.07% increase, closing at 8,416.83 points; the country’s KOSDAQ (its main tech-focused index) gained over 8% in the session. After Samsung and SK unveiled their investment plans, the KOSPI index erased a decline of up to 3.4% to turn positive intraday, while small-cap benchmark KOSDAQ also rebounded.

1 seconds ago

Iran's Deputy Foreign Minister: Convening the First Meeting of the Iran-Oman Joint Commission on the Strait of Hormuz

Iran's Deputy Foreign Minister announced that the first meeting of the Iran-Oman Joint Commission on the Strait of Hormuz was held.

1 seconds ago

Online reports indicate that South Korea’s previously expected aggressive investment of 2000 trillion won has materialized at 800 trillion won, easing market sentiment and triggering a minor rebound in the stock prices of Samsung and SK Hynix.

Hyperinsight’s monitoring shows that South Korea’s semiconductor sector rebounded in the afternoon. The previously-feared 2,000 trillion won investment plan was ultimately realized as a semiconductor project worth around 800 trillion won (approx. $518 billion). This is likely because capital expenditure pressure fell short of some market participants’ expectations, leading to eased risk aversion and narrowed losses. On Hyperliquid, SK Hynix (1H) rebounded by 4.5% at one point, currently quoted at $1,730; Samsung Electronics rose 2%, currently at $214. Currently, the average entry price of long positions for large holders of the two on-chain assets is $1,608 and $217.3 respectively, with Samsung Electronics trading below the moving average of long-position whales.

1 seconds ago

Recently, over 550,000 Bitcoin have flowed into deposit addresses of Binance and OKX, marking a new high since the 2023 bear market.

Crypto Quant analyst Darkfost noted in a post that as Bitcoin recently dipped below $60,000 again, a large number of investors have transferred their Bitcoin to exchanges. Data shows more than 220,000 BTC flowed into deposit addresses linked to Binance’s hot wallet, and over 330,000 BTC entered OKX-related deposit addresses, totaling over 550,000 BTC—marking the largest such inflow this year and the highest level since the 2023 bear market. Typically, when users plan to sell Bitcoin, they first transfer funds to deposit addresses before aggregating them into the exchange’s operational wallet. As such, this massive inflow reflects panic among some investors after Bitcoin tested the $60,000 threshold, with increased potential selling pressure. However, the data does not mean all these BTC have been sold; it only signals a rise in exchanges’ selling willingness.

1 seconds ago

Hyper Foundation is putting $10 million on the table to help developers and protocols navigate the death of USDH, the stablecoin that once served as the backbone of Hyperliquid’s trading ecosystem.

The grant program, announced on June 28, targets builders who built on top of USDH and now need to either migrate their projects to USDC or wind them down in an orderly fashion. The deadline: end of July 2026.

Who gets the money and what they need to do The $10 million isn’t a general-purpose slush fund. It’s targeted at specific categories of ecosystem participants who are most directly affected by USDH going dark.

Eligible recipients include deployers under HIP-1 and HIP-3, which are Hyperliquid’s frameworks for listing and managing assets on the platform. HyperEVM protocols, USDH:USDC bridges, and Native Markets, the actual issuer of USDH, are also on the list.

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To smooth the transition for everyday users, feeless conversion paths to USDC are being made available. Bridges like Across on HyperEVM allow traders to swap their USDH holdings for USDC without eating transaction costs during the changeover period. USDH markets on HyperCore have already completed settlements, meaning the order books are effectively closed and the swap infrastructure is the primary exit route.

Why Hyperliquid is ditching its own stablecoin Hyperliquid launched as a high-performance Layer 1 blockchain purpose-built for perpetual futures and spot trading. USDH was its native stablecoin, the default unit of account for the platform’s trading pairs.

The pivot toward USDC as the canonical stablecoin on Hyperliquid has been in motion since 2025, when community proposals and planned auctions for the USDH ticker first signaled the direction of travel. By mid-2026, the decision was fully baked.

The financial mechanics of the wind-down reveal some interesting details about how USDH was structured. Half of the prior USDH reserve yield is being routed to HYPE buybacks through the Assistance Fund. In other words, the reserves that once backed USDH are partially being recycled into supporting the platform’s native token on the way out.

And the unwinding is already having ripple effects. Hyperion DeFi withdrew approximately 800,000 HYPE, worth roughly $28.7 million, on June 8 after ending its USDH-related contracts.

What this means for investors For traders currently active on Hyperliquid, the immediate concern is practical: make sure any USDH holdings are converted before the July deadline. The feeless bridges exist precisely for this purpose.

The Hyperion DeFi withdrawal of $28.7 million in HYPE tokens is worth monitoring for anyone holding the native token. Large-scale unwinding of USDH-related positions could create selling pressure on HYPE in the short term, even as the reserve yield buyback mechanism works in the opposite direction.

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

Hyperliquid has overtaken S.A.N.T.A in 24-hour revenue generation, marking another data point in the ongoing battle between competing memecoin infrastructure models.

The platform, which runs its own Layer-1 blockchain purpose-built for perpetual futures trading, has turned itself into one of DeFi’s most efficient revenue engines. Cumulative revenue has surpassed $1 billion, reaching roughly $1.027 billion according to DefiLlama data.

The revenue flywheel that keeps spinning Hyperliquid captures trading fees and funnels them into what it calls an Assistance Fund. That fund exists primarily for one purpose: regular buybacks of HYPE, the platform’s native token. Up to 97% of fees get redistributed into these buybacks.

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Annualized revenue run rates currently sit between $676 million and $843 million. Hyperliquid has at times generated more revenue than Ethereum. The platform operates without venture capital funding and runs a minimal team.

S.A.N.T.A and the transparency question Public information about S.A.N.T.A’s operations, revenue metrics, and overall business model remains difficult to verify independently. There are no public sources confirming the operational functionality or revenue claims of S.A.N.T.A as related to Hyperliquid.

Hyperliquid’s revenue figures are trackable through DefiLlama and other on-chain analytics tools.

What this means for investors Hyperliquid’s perpetual futures focus gives it a structural advantage. Perps are the most traded instrument in crypto, often generating multiples of spot trading volume.

The HYPE buyback mechanism, funded by up to 97% of fees, creates consistent demand pressure on the token. The 97% redistribution rate also leaves very little cushion for building reserves or funding development during lean periods.

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

Key Takeaways HYPE is currently valued near $62 with a multi-billion dollar market capitalization Baseline scenario projects $100–$160, valuing HYPE as a decentralized exchange token Optimistic scenario envisions $250–$400 if Hyperliquid dominates on-chain derivatives trading Pessimistic scenario suggests $20–$35 amid competitive pressures, security incidents, and token dilution Weighted probability analysis points to approximately $145 by the year 2031 Hyperliquid stands out in a crowded cryptocurrency landscape by delivering tangible results. Unlike countless projects built purely on speculation, Hyperliquid has secured more than 40% of the decentralized perpetual futures market by mid-2026. This represents genuine market dominance backed by data.

Hyperliquid (HYPE) Price Currently trading near $62, HYPE’s valuation fundamentally depends on transaction volume, fee generation, and platform liquidity rather than empty promises.

The protocol handled transaction volumes in the hundreds of billions throughout the first quarter of 2026, with daily figures consistently reaching into the billions. These metrics mirror those of established centralized exchanges.

$600 $HYPE sounds crazy… until you look at the fundamentals.

My bull case:
• Monopoly position in DEX perps
• $1m + daily revenue sustained for 3 years
• New products increasing user retention
• Flips $SOL by market cap by 2027.
• Crypto enters another major bull cycle in… pic.twitter.com/szVXQgAuu7

— Lochie (@lochie_sol) June 27, 2026

This performance explains why market observers increasingly compare HYPE’s valuation framework to traditional exchange tokens rather than standard Layer 1 blockchain assets.

Baseline Projection: $100 to $160 Range The baseline forecast assumes Hyperliquid maintains its leadership position within decentralized perpetuals throughout the coming half-decade.

This scenario requires continued migration of traders toward on-chain platforms, sustained growth in cryptocurrency derivatives markets, and Hyperliquid’s ability to defend its market share. A valuation range of $100 to $160 would translate to a fully diluted market cap between $100 billion and $160 billion, calculated against the maximum token supply of 1 billion HYPE.

While ambitious, these valuations become reasonable if Hyperliquid evolves into essential infrastructure for cryptocurrency trading.

Reuters coverage indicates that cryptocurrency exchanges are positioning themselves for expanded U.S. perpetual futures offerings as regulatory frameworks crystallize. This regulatory shift could significantly expand Hyperliquid’s addressable market.

Optimistic and Pessimistic Scenarios The optimistic projection places HYPE between $250 and $400. Achieving this requires Hyperliquid to dominate decentralized derivatives, successfully launch spot trading markets, attract significant institutional capital, and transform into a comprehensive on-chain financial infrastructure.

This scenario demands multiple favorable outcomes aligning simultaneously.

The pessimistic forecast settles between $20 and $35. Trading platform markets are intensely competitive. Centralized exchanges, dYdX, GMX, Solana ecosystem protocols, and emerging perpetual DEXs all compete for identical liquidity pools.

Security vulnerabilities represent substantial threats. The Financial Times documented a $280 million security breach at Drift, a rival decentralized derivatives platform. Such incidents can undermine confidence across the entire sector.

Token supply expansion creates additional downward pressure. The current circulating supply represents only a fraction of the 1 billion maximum HYPE tokens. Future unlock events occurring during periods of weak demand could significantly depress prices.

The probability-adjusted five-year projection estimates approximately $145 by 2031.

Hyperliquid commands over 40% of decentralized perpetual futures volume as of mid-2026, with daily trading consistently reaching billions of dollars.

Popular investor and entrepreneur Kyle Samani has accused Hyperliquid of misleading the public over its permissionless status. The Forward Industries chairman made the claim after Singapore’s financial regulator added the platform to its Investor Alert List.

The Monetary Authority of Singapore (MAS) placed Hyperliquid on its Investor Alert List (IAL) on June 26. The IAL flags entities that residents may mistakenly perceive as licensed or MAS-authorized. An IAL listing carries no ban or enforcement weight. It signals, instead, that local users may not receive MAS protections if something goes wrong on the platform.

Hyperliquid Defends Its Permissionless InfrastructureHyperliquid responded to the Singapore IAL listing, noting that it has never claimed MAS licensing or authorization. The platform maintained that users retain full self-custody and all transactions settle transparently on-chain. It added that nothing about the network has changed.

Bybit received the same warning earlier in June. The MAS has been tightening oversight of offshore exchanges throughout 2026. It ordered unlicensed platforms to seek regulatory approval or cease operations accessible to Singapore residents.

Samani’s Case Against PermissionlessnessSamani took direct aim at Hyperliquid’s core claims.

Hyperliquid is not permissionless. Stop gaslighting the public.

Samani

He argued that genuine permissionlessness requires at a minimum two conditions. The protocol must be open source. Validators must also operate globally, not concentrated in a single location.

He further raised governance concerns. Samani said the Hyperliquid Foundation can jail validators and remove them from the active set without justification.

Furthermore, the Foundation can push forced software upgrades on validators, he argued, stripping them of control over their own nodes.

Hyperliquid’s current setup lends some weight to those claims. The network runs only 24 active validators and plans a modest expansion to 27. Its node repository distributes a signed binary rather than full source code. The team says open-sourcing will follow once HyperCore reaches feature completion.

Furthermore

The hyperliquid foundation can put a validator in “jail” for any reason and remove it from active validator set

They also force upgrades on validators. They violate validator sovereignty

— Kyle Samani (@KyleSamani) June 26, 2026 Samani’s Motivations Under ScrutinyCritics have previously targeted Hyperliquid on similar decentralization grounds, and the platform has typically held its position. Samani’s Multicoin Capital exit in February 2026 adds personal context. His former firm held notable exposure to competing protocols, prompting some observers to question his motivations.

How Hyperliquid responds to pressure from regulators and industry critics may shape its standing with institutional users in the months ahead.

Hyperliquid demand deepens as institutions chase staking yields – Just a fad?

Analysis: Weak demand from U.S. institutions may keep Bitcoin under pressure and range-bound in the short term.

Bitfire Group stated in its latest market commentary that Bitcoin’s negative premium on Coinbase has continued to widen, signaling persistent weakness in U.S. institutional buying. Meanwhile, Strategy’s income preferred stock (ticker: STRC) briefly dipped below $84. Though there is no immediate liquidation risk, market concerns over whether the firm will need to sell Bitcoin continue to weigh on sentiment. From a technical perspective, Bitcoin remains trading below its 20-day and 50-day moving averages, with short-term MAs in a bearish alignment. The daily RSI stands at around 40—weak but not yet in oversold territory. The overall Bollinger Bands are sloping downward, with the middle band acting as strong resistance. Bitfire Group believes that with a lack of sustained bullish momentum and bears still holding the upper hand, Bitcoin will likely continue fluctuating below resistance levels in the short term, further testing actual buying demand on the downside. Key resistance levels are at $64,650, $66,900, and $69,800, while the main support level is at $63,500.

10 minutes ago

Thailand has issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of money laundering through illegal cryptocurrency mining.

Thailand’s Department of Special Investigation (DSI) has issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of belonging to a criminal organization that allegedly uses illegal cryptocurrency mining to launder proceeds from fraud and online gambling. Wang, a former leader of the Thai-China Trade Association, is identified as a core figure in the involved Chinese investor group. Reuters’ 2023 investigative report, which centered on Wang, revealed that a U.S. blockchain analytics firm found fraud-related cryptocurrency wallets had sent millions of dollars to accounts under Wang’s name, while he actively cultivated ties with top Thai political and law enforcement officials at the time. A DSI spokesperson stated Wang was charged last November with theft and violations of the Computer Crime Act, adding that he is believed to have fled Thailand, and authorities are tracking his whereabouts in cooperation with international partners. Separately, Thai authorities have also issued arrest warrants for four unnamed Chinese nationals and four unnamed Myanmar nationals.

10 minutes ago

US-Iran conflict escalates for three consecutive days: Iran targets US military base in Kuwait with missiles and drones, Trump warns "Iran will cease to exist"

According to CNN, the situation has reversed sharply after the U.S.-Iran ceasefire deal took effect, with military clashes breaking out for three consecutive days between the two sides, multiple Gulf countries drawn into the conflict, and the Strait of Hormuz facing renewed severe threats to navigation. In the latest development, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed to have struck U.S. military facilities in Kuwait and Bahrain with missiles and drones in retaliation for earlier U.S. airstrikes. Kuwaiti military confirmed its air defense systems are intercepting incoming targets, while Bahrain's Interior Ministry issued an alert urging residents to head to the nearest safe locations immediately. For the U.S. military, U.S. Central Command announced multiple rounds of strikes on Iran's missile and drone storage facilities, military surveillance infrastructure, communication systems, air defense positions and mine-laying capabilities, citing Iran's "continuous attacks on merchant ships". Trump immediately issued the sternest warning on social media, saying that if Iran does not stop the attacks, the U.S. military will be forced to "complete the tasks already initiated by military means", and that "the Islamic Republic of Iran will cease to exist". Iran responded firmly, with the IRGC stating that the U.S. airstrikes violated the ceasefire deal and "will lead to a complete halt of all diplomatic processes". Meanwhile, the Israeli military launched a drone attack in southern Lebanon just one day after a framework agreement was reached between Israel and Lebanon, further complicating the regional situation. The preliminary agreement signed by the U.S. and Iran this month aimed at restoring navigation in the Strait of Hormuz is facing the risk of complete collapse amid the continuous clashes, and market concerns over oil prices, safe-haven assets and global energy supplies are rising sharply.

10 minutes ago

Whale "sat0shi777" is trapped in both long and short positions simultaneously, with total unrealized losses exceeding $3 million on a combined position worth $102 million.

According to EmberCN’s monitoring, on-chain whale address "sat0shi777" recently executed a rare operation of being trapped in both long and short positions simultaneously. On June 24, the whale opened a long position of 468 BTC at an average price of $62,729, with a position size of approximately $29.38 million. Shortly after, Bitcoin fell below $60,000, and the long position currently has an unrealized loss of around $1.86 million. Yesterday morning, amid a downtrend, the whale added to a short position of 47,500 ETH at an average price of $1,536, with a position size of roughly $72.94 million. However, ETH did not continue to decline afterward, and the short position currently shows an unrealized loss of about $1.23 million. The combined market value of the two positions is approximately $102.32 million, with a total unrealized loss of over $3.09 million, leaving the whale in the red on both long and short sides.

10 minutes ago

A new crypto address has increased its holdings by 1,350 BTC, valued at approximately $81.87 million.

According to Lookonchain’s monitoring, a newly created wallet address bc1q4m has withdrawn 1,350 BTC from Binance, worth approximately $81.87 million at current prices.

10 minutes ago

Crypto stocks have fallen far more sharply than large-cap tech stocks: Coinbase and Circle have declined 69% and 72% respectively from their peaks, with Bitcoin briefly falling below $60,000, exacerbating bearish sentiment.

Amid a broad sell-off in tech stocks, crypto-related equities have seen particularly steep declines, with their divergence from the broader market continuing to widen. Coinbase (COIN) and Circle (CRCL) have fallen 69% and 72% respectively from their all-time highs, far outpacing the 48% to 57% pullbacks of major tech stocks including Oracle, Salesforce, Netflix, and Palantir. By comparison, the S&P 500 index has dropped just 3.5% from its recent peak. Fundamentally, Coinbase’s first-quarter results missed Wall Street estimates by a wide margin: revenue fell 21% quarter-over-quarter, posting a loss of $1.49 per share, while analysts had previously projected earnings of $0.27 per share. Bitcoin fell below $60,000 this week, down more than 54% from its October peak. Ethereum also dropped to around $1,500, roughly 69% lower than its record high last year, as market sentiment continues to deteriorate. In its mid-year outlook report, 21Shares cut its 2026 crypto market forecast, noting that digital asset price performance is significantly lagging behind the sector’s fundamentals. The firm pointed out that institutional adoption continues to deepen, with stablecoins, asset tokenization, and prediction markets all maintaining strong growth momentum, but Bitcoin’s four-year market cycle remains the dominant driver of price movements. The report also acknowledged a prior misjudgment: “Bitcoin’s cycle is evolving, but it has not broken,” retracting its earlier claim that the four-year cycle was obsolete. Analysts argue that the sharp pullback in crypto equities reflects a combination of three pressures: overall weakness in the digital asset market, uncertainty surrounding structural legislation for the U.S. crypto market, and the potential impact of AI technology on existing business models.

10 minutes ago

Key Takeaways Prominent crypto trader Garrett Jin has initiated a $21.73M short position on Zcash via Hyperliquid at an entry price of $418.90 Approximately $4.93M of the total order has been executed, leaving $16.8M unfilled Complete execution would position Jin as the platform’s largest ZEC position holder Jin’s previous two Zcash trades generated combined profits of $11.66M Simultaneously, his 1,268 BTC long position entered at $76,117 faces unrealized losses exceeding $20M Prominent cryptocurrency trader Garrett Jin has initiated a substantial short position targeting Zcash on the Hyperliquid decentralized trading platform. The position, valued at $21.73 million, carries an entry price of $418.90 per ZEC token.

Blockchain analytics expert Yujin first identified and reported the transaction. Initial data showed that $4.93 million worth of the position had been successfully executed, while the bulk—$16.8 million—remained in the order book awaiting fulfillment.

Potential Impact on Hyperliquid’s Zcash Market Should the entire order reach completion, Jin’s position would establish him as the dominant Zcash trader on the Hyperliquid platform. This concentration represents significant individual market exposure within the exchange’s ecosystem.

On-chain monitoring service Lookonchain verified the details of Jin’s position. Their analysis revealed the active short employs 2x leverage across 11,780 ZEC tokens, representing approximately $4.92 million in value at the moment of documentation.

Lookonchain’s research also highlighted Jin’s successful track record with Zcash trading. His two preceding ZEC positions collectively yielded profits totaling $11.66 million.

This newest short position continues Jin’s established strategy of betting against Zcash price appreciation. His current wager anticipates ZEC values declining from the $418 threshold.

Bitcoin Long Position Faces Significant Drawdown Contrary to his Zcash success, Jin’s Bitcoin holdings present a contrasting narrative. He maintains a leveraged long position comprising 1,268 BTC with an average entry point of $76,117 per token.

This Bitcoin trade currently shows substantial negative performance. The unrealized deficit on this position approximates $20.09 million based on recent market data.

Bitcoin’s market price stood around $60,411 during the reporting period, creating a considerable distance from Jin’s $76,117 entry level. This substantial price differential explains the magnitude of unrealized losses.

Taken together, these positions illustrate contrasting outcomes. While Jin has demonstrated profitability through Zcash short strategies, his more substantial Bitcoin wager continues accumulating losses.

Market observers closely monitor Jin’s trading activity due to the considerable capital involved in his transactions. Blockchain analysts including Lookonchain and Yujin systematically document his positions as they materialize on Hyperliquid’s platform.

The $21.73 million Zcash short position remains partially unfilled. Traders following Jin’s activities continue monitoring whether he will complete the full order execution.

Zcash traded at $407.65 during this reporting window, positioning slightly beneath Jin’s $418.90 short entry level. This price differential currently generates modest unrealized gains on the position.

However, his Bitcoin long exposure presents the more pressing challenge. With unrealized losses surpassing $20 million, it constitutes substantial downside risk within his active trading portfolio.

Whale Garrett Jin places $21.73 million ZEC short order, will become Hyperliquid's largest ZEC holder after execution

PANews June 27 news, according to on-chain analyst Ember's monitoring, half an hour ago Garrett Jin placed a limit order for a ZEC short position worth $21.73 million at a price of $418.9, with $4.93 million filled so far and an order worth $16.8 million still waiting to be filled. Once fully executed, he will be the largest ZEC holder on Hyperliquid. In addition, this whale's 1,270 BTC long position opened at $76,117 has an unrealized loss of $20.15 million.

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Grayscale launched $HYPG on Nasdaq with a 0.29% sponsor fee, undercutting rival Hyperliquid funds from 21Shares and Bitwise. 21Shares debuted its fund (THYP) on Nasdaq on May 12 with a 0.30% fee, while Bitwise followed with its BHYP ETF, initially waiving fees before stepping up to 0.34% upon the end of the promotional window. That makes $HYPG the most cost-effective regulated vehicle for $HYPE exposure currently available in the United States.

Staking Rewards Built Into the Structure Unlike traditional crypto ETFs that simply hold an underlying asset, $HYPG is designed to generate additional returns through staking. The fund participates in the Hyperliquid network's staking process, allowing investors to capture staking rewards through the ETF structure. Grayscale cites historical staking rewards of about 2.2% annually. Those rewards, net of fees and expenses, flow through to the fund's net asset value, offering investors a potential return beyond simple price appreciation.

Hyperliquid began as a decentralized perpetual futures exchange but has expanded into a broader blockchain ecosystem that supports smart contracts, tokenized assets, and new financial markets. The protocol generated about $857 million in revenue during 2025, with almost 99% directed toward $HYPE buybacks, a model that ties network usage directly to the token's value.

$HYPG is the third U.S.-listed Hyperliquid fund, with HYPE ETFs already topping $132 million in inflows. That pace of adoption reflects a broader shift in how institutional investors are approaching DeFi infrastructure. The fund's debut adds another sign that institutional investors are increasingly looking beyond bitcoin and ether toward crypto-native infrastructure projects that generate revenue and resemble traditional financial networks.

As with any staking product, risks apply. When a fund stakes its underlying asset, the token is subject to staking risks generally, including a lock-up period during which the fund cannot sell or transfer the staked token, making it illiquid for that period. Investors should review the fund's prospectus carefully before committing capital.

Sources:
Grayscale Hyperliquid Staking ETF (HYPG) Official Page
CoinDesk: Grayscale Launches Lowest-Fee U.S. Hyperliquid ETF
GlobeNewswire: Grayscale Official Press Release

PANews June 26 news, according to SoSoValue data, yesterday (June 25, Eastern Time) HYPE spot ETF saw a total single-day net inflow of $108 million. Among them, Grayscale Hyperliquid Staking ETF (HYPG) had a single-day net inflow of $113 million, with total historical net inflows now reaching $123 million. Bitwise Hyperliquid ETF (BHYP) posted a single-day net outflow of $2.8204 million, with total historical net inflows now at $113 million.

As of press time, the total net asset value of HYPE spot ETFs is $314 million, with a HYPE net asset ratio of 2.24%, and cumulative historical net inflows have reached $292 million.

Hyperliquid said that it is not, and has never claimed to be, licensed or authorized by MAS.

Hyperliquid has been added to the Investor Alert List (IAL) maintained by the Monetary Authority of Singapore (MAS). The perpetual futures platform clarified that the listing does not represent a regulatory violation, enforcement action, or ban.

In a statement shared on X, Hyperliquid said that inclusion on the IAL should not be interpreted as evidence of wrongdoing while adding that the list is intended to identify entities that may be incorrectly viewed as being licensed, authorized, or regulated by MAS.

MAS Investor Alert List Hyperliquid noted that several major crypto exchanges and decentralized finance protocols have also appeared on the list in the past. According to MAS, the Investor Alert List contains names of entities that, based on information available to the regulator, may have been wrongly perceived as being licensed or otherwise regulated by the central bank.

The regulator also stated that the list may include entities offering investments or investment-related products that could be mistakenly viewed as being authorized, recognized, registered, or accompanied by documents lodged with MAS.

Responding to the development, Hyperliquid asserted that it is a permissionless infrastructure and has never claimed to be licensed or authorized by MAS and that users should not regard the platform as holding such approval. The platform added that users continue to maintain self-custody of their assets and that transactions on the network remain transparent and fully settled on-chain.

“The Hyperliquid ecosystem remains committed to engaging collaboratively and constructively with regulators and institutions globally and to supporting clear, well-designed frameworks for onchain finance.”

The MAS had also placed Bybit Fintech Limited on its Investor Alert List earlier this month. In response, Bybit said it has maintained regular and constructive engagement with MAS and has implemented measures to restrict access for users in Singapore. The exchange said these measures include restrictions in its terms of service and geo-blocking of Singapore IP addresses.

HYPE Cools but ETF Interest Accelerates Hyperliquid’s native token, HYPE, showed little reaction following the development. HYPE traded largely around $62 over the past 24 hours. The token had previously rallied above $75 in mid-June before retreating amid broader market volatility.

You may also like: Why Capital Is Flowing Into XRP, SOL, and HYPE Instead of BTC and ETH HYPE Price Explodes as ETF Inflows and SpaceX Perps Boost Hyperliquid Not Random Panic: Bybit Highlights Factors That Pulled BTC Below $60K Meanwhile, institutional demand for the token appeared to remain strong. Data from SoSoValue revealed that US spot HYPE ETFs recorded more than $108 million in net inflows on June 25, which is the largest single-day inflow since the products launched last month. The inflows came after five trading days in June that recorded no net flows.

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Key Takeaways Table of Contents

Key TakeawaysSingapore Authority Issues Public WarningPlatform Emphasizes Decentralized FrameworkRegulatory Pressure Intensifies Across Crypto SectorExchange Sustains Leading Industry Status Singapore’s financial authority flags Hyperliquid for operating without proper licensing credentials. The platform maintains it never represented itself as authorized by Singapore regulators. Alert listing doesn’t constitute an operational ban or indicate imminent legal action. Singapore continues strengthening regulatory framework for cryptocurrency platforms targeting domestic users. Despite regulatory spotlight, Hyperliquid maintains position as leading decentralized exchange. On June 26, Singapore’s financial watchdog placed Hyperliquid on its official Investor Alert List, citing the platform’s absence of domestic regulatory approval. The warning encompasses both the Hyper Foundation’s web presence and its decentralized trading application. Importantly, this designation doesn’t constitute an outright prohibition or signal immediate enforcement measures.

Singapore Authority Issues Public Warning The Monetary Authority of Singapore maintains this registry to spotlight financial operations lacking mandatory domestic approval. The authority uses this mechanism to identify services that Singapore residents might mistakenly believe are regulated entities. This alert serves to clarify Hyperliquid’s standing under Singapore’s regulatory framework.

The public alert mechanism dates back to 2004, established as a consumer safeguard initiative. Updates occur regularly, incorporating websites, corporate entities, and digital financial platforms. Appearing on this registry doesn’t necessarily imply fraudulent activity or criminal operations.

The designation indicates MAS hasn’t granted Hyperliquid permission to deliver regulated financial services within Singapore’s borders. Consequently, platform users cannot access the safeguards typically provided through domestically supervised financial organizations. No financial penalties or judicial proceedings against the platform have been disclosed by the regulator.

Platform Emphasizes Decentralized Framework Hyperliquid responded by stating it never portrayed itself as possessing Singapore regulatory authorization. The platform emphasized the alert hasn’t impacted its permissionless operational model. Trading activity continues flowing through its blockchain-based network infrastructure.

The decentralized trading venue enables participants to maintain direct custody of their digital assets throughout transactions. Settlement occurs transparently via blockchain verification mechanisms. The platform contends its architectural design fundamentally differs from conventional centralized financial services.

According to the platform, its broader network will maintain ongoing dialogue with regulatory bodies and institutional players globally. It advocates for transparent regulatory guidelines governing decentralized finance and blockchain trading environments. Nevertheless, Hyperliquid hasn’t revealed intentions to pursue Singapore licensing.

Regulatory Pressure Intensifies Across Crypto Sector MAS has expanded its alert roster to include multiple cryptocurrency trading platforms. Bybit received the same designation on June 17, joining previously listed exchanges KuCoin and Bitget. These inclusions demonstrate Singapore’s systematic approach toward unauthorized digital currency operations.

During May 2025, MAS mandated that Singapore-domiciled cryptocurrency companies servicing international clientele obtain proper licenses or cease activities. This directive eliminated a regulatory loophole permitting certain operators to bypass domestic approval requirements. The authority emphasized it had communicated this regulatory stance consistently since 2022.

These enforcement measures connect to enhanced consumer safeguards and strengthened financial crime prevention protocols. The regulator also aims to better harmonize with global anti-money laundering frameworks. Cryptocurrency enterprises based in Singapore now confront more demanding licensing requirements.

Exchange Sustains Leading Industry Status Hyperliquid continues ranking among the most prominent decentralized trading venues notwithstanding regulatory attention. According to CoinGecko metrics, it holds ninth position among decentralized exchanges measured by transaction volume. DefiLlama data suggests the protocol secures approximately $5.7 billion in total value locked.

The venue concentrates primarily on perpetual futures contracts and additional blockchain-enabled trading instruments. Its architecture merges self-custodial features with high-speed transaction execution. Regulatory authorities may still evaluate how such platforms extend services to users within specific jurisdictions.

MAS hasn’t signaled whether additional measures targeting Hyperliquid will follow. The current alert primarily serves to inform Singapore residents about the platform’s regulatory standing. Meanwhile, the exchange maintains operations through its permissionless blockchain systems.

Oliver Dale

Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]

The Monetary Authority of Singapore has added Hyperliquid to its Investor Alert List, prompting the decentralized exchange to state that it has never claimed to be licensed or authorized by the country’s financial regulator.

Summary

MAS has added Hyperliquid to its Investor Alert List, while clarifying that the move is not an enforcement action. Hyperliquid says it has never claimed to be licensed by MAS and that its permissionless infrastructure remains unchanged. HYPE continues trading inside a descending channel, with technical indicators showing improving momentum despite regulatory attention. According to the Monetary Authority of Singapore (MAS), the entry added on Friday includes both the Hyper Foundation website and the Hyperliquid trading application.

The regulator described the Investor Alert List as a consumer protection measure that identifies entities that could be mistakenly perceived as licensed or regulated by MAS. It also clarified that inclusion on the list does not amount to a ban or enforcement action.

Responding in a June 26 X post, Hyperliquid said its permissionless infrastructure remains unchanged and that it has never represented itself as holding authorization from MAS. The platform added that it remains committed to working constructively with regulators and institutions while supporting clear regulatory frameworks for on-chain finance.

Hyperliquid has been added to the MAS's Investor Alert List (IAL). IAL listing does not constitute a ban, an enforcement action, or a finding of wrongdoing. The IAL provides a list of entities that, based on information available to MAS, may be wrongly perceived as being licensed…

— Hyperliquid (@HyperliquidX) June 26, 2026 Hyperliquid says listing does not change its operations Although the MAS listing has drawn attention to the exchange, Hyperliquid continues to rank among the largest decentralized trading platforms. According to CoinGecko, it is currently the ninth-largest decentralized exchange by trading volume, while DefiLlama estimates the protocol secures roughly $5.7 billion in total value locked.

Earlier this month, MAS also placed Bybit on the Investor Alert List. KuCoin and Bitget are already included, indicating that multiple crypto trading platforms have received similar treatment from the regulator.

Unlike enforcement measures that prohibit business activity or impose penalties, the Investor Alert List serves as a public notice intended to help consumers distinguish between firms regulated by MAS and those that are not. The regulator publishes the list to reduce the risk of investors mistakenly believing an entity operates under its supervision.

Singapore continues tightening crypto rules The latest addition comes as Singapore continues tightening oversight of digital asset businesses.

In May 2025, MAS instructed crypto companies serving overseas customers from Singapore to either obtain the required licenses or stop operating. At the time, the regulator said the requirement was not a policy change but the end of a transition period after repeatedly communicating its regulatory position since 2022.

According to MAS, the directive closed a gap that had allowed some Singapore-based crypto businesses to avoid licensing requirements by restricting their services to overseas users.

The regulator also said the updated framework strengthens consumer protection while bringing Singapore’s crypto regime closer to international Anti-Money Laundering and Countering the Financing of Terrorism standards.

HYPE market remains focused on technical levels While the regulatory development has put Hyperliquid back in focus, HYPE’s price action has remained centered on key technical levels rather than showing an immediate directional move tied to the announcement.

On the four-hour chart, Hyperliquid (HYPE) continues to trade inside a descending channel after rebounding from recent lows near $61. The token was changing hands around $65 at the time of analysis, testing the channel’s upper boundary, which has repeatedly acted as resistance during the recent correction.

Hyperliquid price has broken out of a descending channel on the 4-hour chart — June 27 | Source: crypto.news Momentum indicators have shown tentative signs of improvement. The MACD has produced a bullish crossover with the histogram turning positive, while the RSI has recovered above the neutral 50 level, suggesting buying pressure has strengthened after several sessions of weakness.

Derivatives positioning also points to important price zones ahead. CoinGlass liquidation data shows one of the largest clusters of short liquidations between roughly $66 and $67, with additional leverage concentrated closer to $68. A move above those levels could trigger forced buying from short sellers.

Hyperliquid liquidation heatmap | Source: CoinGlass On the downside, sizeable liquidation pools remain around the $63-$62 region, followed by support near $61. If the descending channel continues to hold, those levels could become the next areas where leveraged positions are tested.

For now, the technical picture remains mixed. Momentum has improved, but HYPE would still need a confirmed breakout above its descending channel to weaken the current bearish structure despite the recent recovery.

Think of Hyperliquid as a casino that built itself without taking a dime from investors, and now generates roughly 23 cents in annual revenue for every dollar deposited on its platform. That’s the math when you divide $700 million in annualized revenue by $3 billion in collateral.

The numbers behind the machine Hyperliquid’s annualized revenue figures range between $700 million and $1.2 billion, depending on the measurement window. Cumulative revenue has already crossed the $1 billion mark, with 30-day revenue running at approximately $60 million.

The engine powering those figures is trading volume. The platform has processed over $4.7 trillion in cumulative perpetual futures volume since launch. Recent 30-day perp volume exceeds $250 billion, and open interest sits at roughly $9 billion.

The platform’s activity has drawn comparisons to Nasdaq.

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The fee structure is lean. Maker fees sit at 0.015%, taker fees at 0.045%, and gas fees are zero. Hyperliquid directs 99% of certain fee revenues toward purchasing its native token, HYPE, on the open market.

How Hyperliquid got here without VC money The platform launched around 2023 and bootstrapped its way to relevance without venture capital funding. It runs on a custom Layer-1 blockchain using HyperBFT consensus, which enables a fully on-chain order book.

The native token, HYPE, currently trades around $64 to $65 with a market capitalization of approximately $14 billion. It has touched an all-time high of $77. Staking rewards and fee discounts give holders practical reasons to stay engaged beyond simple price speculation.

Recently, Hyperliquid has expanded beyond crypto perpetuals into new territory. The platform introduced off-chain event contracts and S&P 500 perps, positioning itself to compete not just with other DEXs, but with centralized exchanges and prediction markets like Polymarket.

What this means for investors The absence of venture capital in Hyperliquid’s cap table means there are no early investors sitting on heavily discounted tokens waiting to dump at the first opportunity and no unlock schedule hanging over the market. The token’s price dynamics are driven primarily by buybacks, staking demand, and organic trading activity.

Hyperliquid’s revenue is overwhelmingly dependent on perpetual futures trading volume. The expansion into event contracts and traditional equity perps looks like a hedge against concentration in that single revenue source.

For anyone evaluating HYPE as an investment, the 99% fee-to-buyback ratio creates a direct link between platform usage and token demand. With a $14 billion market cap already baked in, the question is whether the current valuation already prices in continued dominance, or whether $250 billion in monthly volume is just the beginning of something much larger.

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