Bitwise Chief Investment Officer Matt Hougan said crypto is moving toward a market where revenue plays a much larger role in determining token valuations.
In a memo titled “Crypto’s Revenue Revolution,” Hougan argued that one of crypto’s longstanding weaknesses has been the limited connection between successful protocols and the value captured by their tokens.
He said that dynamic is beginning to change as more projects use protocol revenue to buy back or burn their native tokens, creating a clearer link between network activity and token economics.
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Hougan highlighted Hyperliquid as one of the clearest examples. The decentralized exchange generated more than $800 million in revenue last year and directs roughly 99% of fee revenue toward buying HYPE on the open market. According to Hougan, about $1.3 billion worth of HYPE has been bought and burned since the token launched.
Other major protocols are adopting similar models. Uniswap activated protocol fees following its UNIfication proposal and is using revenue to buy and burn UNI, while Aave has introduced automated AAVE buybacks funded by protocol and GHO stablecoin revenue.
Hougan also pointed to Pump.fun and Lighter as projects directing substantial portions of revenue toward token repurchases and burns.
The trend is beginning to extend beyond DeFi applications. Hougan noted proposals and changes at networks including Solana and Aptos aimed at increasing token burns or improving the economics flowing back to holders.
Hougan said investors have yet to fully price in the shift, which is one reason he believes many crypto assets currently trade below their potential value.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Bitwise CIO Matt Hougan says crypto valuations could double if more protocols tie revenue directly to token demand
Hyperliquid sends close to 99% of its fee revenue toward HYPE purchases and burns
Uniswap has burned about 7.5 million UNI through protocol fees since December 2025
Aave bought back more than 205,000 AAVE using $42 million in its first 10 months
The SEC holds a meeting on Aug. 14 to discuss possible new rules for crypto asset offerings
Bitwise Chief Investment Officer Matt Hougan said on Aug. 12 that crypto valuations outside Bitcoin could rise if more projects link token value to protocol revenue. He made the comment in a new memo.
Hougan pointed to five projects already using this approach. They are Hyperliquid, Uniswap, Aave, Pump.fun and Lighter.
He expects more decentralized finance apps and layer 1 networks to copy this model over the next one to two years.
How the Revenue Model Works
Many governance tokens once gave holders voting rights without linking token demand to protocol fees. Buyback and burn systems try to fix that by using fees to buy tokens and remove them from supply.
Hyperliquid is one clear example. Its Assistance Fund takes trading fees and converts them into HYPE, which then gets burned.
Hougan estimates that close to 99% of Hyperliquid’s fee revenue goes toward this fund. The platform has already routed more than $1.16 billion in fees into HYPE purchases.
Hougan compared this setup to stock buybacks. The comparison has limits, since token holders do not carry the same legal claims as company shareholders.
Uniswap, Aave and Pump.fun Take Different Paths
Uniswap expanded its burn system after a December 2025 governance vote called UNIfication. That vote burned 100 million UNI from the treasury and turned on protocol fees.
By July, Uniswap governance said fees had funded about 7.5 million more UNI in burns. That was worth close to $25.6 million based on figures in the proposal.
On July 27, voters approved turning on more fees across networks including Ethereum, Arbitrum, Base, BNB Chain, Polygon, Optimism and Robinhood Chain.
Aave runs a different program. Records show it bought back more than 205,000 AAVE in its first 10 months, using $42 million in funding.
Aave founder Stani Kulechov said in June that all revenue from Aave products and GHO goes to the AAVE token. He also said the team is building an automated buyback system called Aavenomics 3.0.
Pump.fun uses a simpler split. The platform sends half of its net revenue toward buybacks and burns of its PUMP token.
Crypto.news reported that Pump.fun made $10.03 million in weekly fees and burned $5.02 million worth of PUMP between Aug. 3 and Aug. 9.
Solana is weighing similar changes. A proposal called SIMD 0553 would replace the network’s flat fee with a new charge that gets burned, which could raise daily burns from around 648 SOL to between 7,500 and 9,000 SOL.
Hougan linked these shifts partly to a friendlier U.S. regulatory setting. He pointed to the Ripple case and changes in SEC leadership as part of that trend.
The SEC will hold a meeting on Aug. 14 to discuss possible new rules for certain crypto asset offerings. The agenda does not say the rules will directly address token revenue sharing.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He ...
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He had to sell Bored Ape #5715 for just 8.3 $ETH ($15,570), which he bought for 34.17 $ETH 3 years ago, to keep his $ETH long going. Current position: 2,800 $ETH($5.3M) Liquidation price: $1,863.08
24 minutes ago
Crypto influencer 'Maji Big Brother' withdrew only 1,540 USDC from Binance and sold Bored Ape Yacht Club (BAYC) NFTs to maintain his long Ethereum (ETH) position.
According to monitoring by OnchainDataNerd, Maji Big Brother may face increased financial pressure recently, having withdrawn just 1,540 USDC from Binance. Meanwhile, to maintain his long Ethereum (ETH) position, he sold Bored Ape Yacht Club #5715 for 8.3 ETH (≈$15,600) — an NFT he purchased three years ago for 34.17 ETH. His current long ETH position stands at 2,800 ETH, valued at roughly $5.3 million, with a liquidation price of $1,863.08.
24 minutes ago
AI chip maker Cerebras Systems falls 17.3% in pre-market trading on US stocks.
According to BIT (Bit.com) market data, shares of AI chip maker Cerebras Systems fell 17.3% in pre-market trading on US stocks, as the company's second-quarter revenue missed expectations.
24 minutes ago
Changxin Technology has surpassed Tencent Holdings to become China’s largest listed company by market capitalization.
Changxin Technology closed today with a market capitalization of 3.54 trillion yuan. As of Hong Kong's market close, Tencent Holdings (00700.HK) fell 4.46%, posting a market cap of 4 trillion Hong Kong dollars, equivalent to approximately 3.44 trillion yuan. Changxin Technology has surpassed Tencent to become China's largest listed company by market capitalization.
24 minutes ago
Iran: Will Wear Down the U.S. Through a Protracted War
In an interview broadcast on U.S. public television PBS on August 11 local time, Mohammad Reza Naghdi, advisor to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), stated that the two main goals of the U.S. war against Iran—overthrowing Iran’s leadership and splitting the country—have “already failed,” adding that “victory is on Iran’s side.” Naghdi pointed out that the U.S. has displayed confusion and uncertainty in this conflict, saying, “The U.S. keeps announcing new goals every few days, turning this into a war without strategy.” He also emphasized that Iran will continue to achieve victories. Over more than five months of confrontation with the U.S., Iran has not only accumulated experience but also found that U.S. military forces are weaker than expected. Iran must achieve deterrence to ensure enemies never dare attack it again, and one way to do this is to “prolong the war” to wear down the U.S., so that anyone considering attacking Iran in the future “will first weigh the cost they will have to pay.” (Source: CCTV International News)
24 minutes ago
South Korea's sovereign wealth fund KIC has made its first investment in Circle, holding a stake valued at $4.1 million in the second quarter.
Korea Investment Corporation (KIC) has made its first investment in Circle, a stablecoin issuer. Data disclosed by the U.S. Securities and Exchange Commission (SEC) shows that as of the second quarter of 2026, KIC held 65,443 shares of Circle, with a holding value of approximately $4.099 million (equivalent to about 5.83 billion South Korean won). Previously, KIC’s holdings of crypto-asset-related companies included Strategy, Coinbase, Block, Robinhood, and Riot Platforms. In Q2 2026, KIC reduced its stakes in Strategy, Coinbase, and Riot Platforms, while increasing positions in Block and Robinhood. The total value of its related U.S. stock holdings rose 27% from $132 million in Q1 to $168 million. Specifically, Strategy’s holding value dropped 32% from $10.61 million to $7.17 million; Coinbase’s fell 30% from $52.99 million to $36.93 million; Block’s surged 58% from $17.25 million to $27.34 million; Robinhood’s jumped 92% from $45.88 million to $87.96 million; and Riot’s rose 70% from $4.95 million to $8.42 million.
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He ...
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He had to sell Bored Ape #5715 for just 8.3 $ETH ($15,570), which he bought for 34.17 $ETH 3 years ago, to keep his $ETH long going. Current position: 2,800 $ETH($5.3M) Liquidation price: $1,863.08
24 minutes ago
Crypto influencer 'Maji Big Brother' withdrew only 1,540 USDC from Binance and sold Bored Ape Yacht Club (BAYC) NFTs to maintain his long Ethereum (ETH) position.
According to monitoring by OnchainDataNerd, Maji Big Brother may face increased financial pressure recently, having withdrawn just 1,540 USDC from Binance. Meanwhile, to maintain his long Ethereum (ETH) position, he sold Bored Ape Yacht Club #5715 for 8.3 ETH (≈$15,600) — an NFT he purchased three years ago for 34.17 ETH. His current long ETH position stands at 2,800 ETH, valued at roughly $5.3 million, with a liquidation price of $1,863.08.
24 minutes ago
AI chip maker Cerebras Systems falls 17.3% in pre-market trading on US stocks.
According to BIT (Bit.com) market data, shares of AI chip maker Cerebras Systems fell 17.3% in pre-market trading on US stocks, as the company's second-quarter revenue missed expectations.
24 minutes ago
Changxin Technology has surpassed Tencent Holdings to become China’s largest listed company by market capitalization.
Changxin Technology closed today with a market capitalization of 3.54 trillion yuan. As of Hong Kong's market close, Tencent Holdings (00700.HK) fell 4.46%, posting a market cap of 4 trillion Hong Kong dollars, equivalent to approximately 3.44 trillion yuan. Changxin Technology has surpassed Tencent to become China's largest listed company by market capitalization.
24 minutes ago
Iran: Will Wear Down the U.S. Through a Protracted War
In an interview broadcast on U.S. public television PBS on August 11 local time, Mohammad Reza Naghdi, advisor to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), stated that the two main goals of the U.S. war against Iran—overthrowing Iran’s leadership and splitting the country—have “already failed,” adding that “victory is on Iran’s side.” Naghdi pointed out that the U.S. has displayed confusion and uncertainty in this conflict, saying, “The U.S. keeps announcing new goals every few days, turning this into a war without strategy.” He also emphasized that Iran will continue to achieve victories. Over more than five months of confrontation with the U.S., Iran has not only accumulated experience but also found that U.S. military forces are weaker than expected. Iran must achieve deterrence to ensure enemies never dare attack it again, and one way to do this is to “prolong the war” to wear down the U.S., so that anyone considering attacking Iran in the future “will first weigh the cost they will have to pay.” (Source: CCTV International News)
24 minutes ago
South Korea's sovereign wealth fund KIC has made its first investment in Circle, holding a stake valued at $4.1 million in the second quarter.
Korea Investment Corporation (KIC) has made its first investment in Circle, a stablecoin issuer. Data disclosed by the U.S. Securities and Exchange Commission (SEC) shows that as of the second quarter of 2026, KIC held 65,443 shares of Circle, with a holding value of approximately $4.099 million (equivalent to about 5.83 billion South Korean won). Previously, KIC’s holdings of crypto-asset-related companies included Strategy, Coinbase, Block, Robinhood, and Riot Platforms. In Q2 2026, KIC reduced its stakes in Strategy, Coinbase, and Riot Platforms, while increasing positions in Block and Robinhood. The total value of its related U.S. stock holdings rose 27% from $132 million in Q1 to $168 million. Specifically, Strategy’s holding value dropped 32% from $10.61 million to $7.17 million; Coinbase’s fell 30% from $52.99 million to $36.93 million; Block’s surged 58% from $17.25 million to $27.34 million; Robinhood’s jumped 92% from $45.88 million to $87.96 million; and Riot’s rose 70% from $4.95 million to $8.42 million.
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He ...
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He had to sell Bored Ape #5715 for just 8.3 $ETH ($15,570), which he bought for 34.17 $ETH 3 years ago, to keep his $ETH long going. Current position: 2,800 $ETH($5.3M) Liquidation price: $1,863.08
24 minutes ago
Crypto influencer 'Maji Big Brother' withdrew only 1,540 USDC from Binance and sold Bored Ape Yacht Club (BAYC) NFTs to maintain his long Ethereum (ETH) position.
According to monitoring by OnchainDataNerd, Maji Big Brother may face increased financial pressure recently, having withdrawn just 1,540 USDC from Binance. Meanwhile, to maintain his long Ethereum (ETH) position, he sold Bored Ape Yacht Club #5715 for 8.3 ETH (≈$15,600) — an NFT he purchased three years ago for 34.17 ETH. His current long ETH position stands at 2,800 ETH, valued at roughly $5.3 million, with a liquidation price of $1,863.08.
24 minutes ago
AI chip maker Cerebras Systems falls 17.3% in pre-market trading on US stocks.
According to BIT (Bit.com) market data, shares of AI chip maker Cerebras Systems fell 17.3% in pre-market trading on US stocks, as the company's second-quarter revenue missed expectations.
24 minutes ago
Changxin Technology has surpassed Tencent Holdings to become China’s largest listed company by market capitalization.
Changxin Technology closed today with a market capitalization of 3.54 trillion yuan. As of Hong Kong's market close, Tencent Holdings (00700.HK) fell 4.46%, posting a market cap of 4 trillion Hong Kong dollars, equivalent to approximately 3.44 trillion yuan. Changxin Technology has surpassed Tencent to become China's largest listed company by market capitalization.
24 minutes ago
Iran: Will Wear Down the U.S. Through a Protracted War
In an interview broadcast on U.S. public television PBS on August 11 local time, Mohammad Reza Naghdi, advisor to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), stated that the two main goals of the U.S. war against Iran—overthrowing Iran’s leadership and splitting the country—have “already failed,” adding that “victory is on Iran’s side.” Naghdi pointed out that the U.S. has displayed confusion and uncertainty in this conflict, saying, “The U.S. keeps announcing new goals every few days, turning this into a war without strategy.” He also emphasized that Iran will continue to achieve victories. Over more than five months of confrontation with the U.S., Iran has not only accumulated experience but also found that U.S. military forces are weaker than expected. Iran must achieve deterrence to ensure enemies never dare attack it again, and one way to do this is to “prolong the war” to wear down the U.S., so that anyone considering attacking Iran in the future “will first weigh the cost they will have to pay.” (Source: CCTV International News)
24 minutes ago
South Korea's sovereign wealth fund KIC has made its first investment in Circle, holding a stake valued at $4.1 million in the second quarter.
Korea Investment Corporation (KIC) has made its first investment in Circle, a stablecoin issuer. Data disclosed by the U.S. Securities and Exchange Commission (SEC) shows that as of the second quarter of 2026, KIC held 65,443 shares of Circle, with a holding value of approximately $4.099 million (equivalent to about 5.83 billion South Korean won). Previously, KIC’s holdings of crypto-asset-related companies included Strategy, Coinbase, Block, Robinhood, and Riot Platforms. In Q2 2026, KIC reduced its stakes in Strategy, Coinbase, and Riot Platforms, while increasing positions in Block and Robinhood. The total value of its related U.S. stock holdings rose 27% from $132 million in Q1 to $168 million. Specifically, Strategy’s holding value dropped 32% from $10.61 million to $7.17 million; Coinbase’s fell 30% from $52.99 million to $36.93 million; Block’s surged 58% from $17.25 million to $27.34 million; Robinhood’s jumped 92% from $45.88 million to $87.96 million; and Riot’s rose 70% from $4.95 million to $8.42 million.
Hyperion DeFi (Nasdaq: HYPD), the Nasdaq-listed DeFi company focused on the Hyperliquid ecosystem, reported record second-quarter net income of $31 million, more than triple the $8.8 million it earned in Q1 2026. The results, released on August 12, mark the second consecutive quarter in which Hyperion has set a new profit record.
HYPE Treasury Nearly Doubles in ValueThe company held 2.04 million HYPE tokens as of June 30, with gross holdings valued at approximately $133 million, up from $71 million at the end of Q1. The sharp rise reflects both additional token accumulation and a higher HYPE price during the quarter. Adjusted EBITDA came in at $53.7 million, up from $19.5 million in the prior period, driven primarily by $54.8 million in treasury gains. Staking yield contributed $527,000 for the quarter, a 69% increase, while yield-enhancement activities added a further $334,000, up 58%.
Hyperion describes its approach as a "Triple-Dip" strategy, combining a growing HYPE treasury, scalable DeFi businesses, and embedded economic upside in early-stage Hyperliquid builders. From Q3 2025 to Q2 2026, the company's adjusted gross profit grew 162%, while operating expenses excluding stock-based compensation fell 46%.
New Staking Partnerships Extend Ecosystem ReachAlongside the earnings release, Hyperion announced a HYPE Asset Use Service (HAUS) agreement with Entropy, an upcoming HIP-3 deployer, committing 500,000 staked HYPE tokens to the partnership. The company also confirmed a separate 500,000 HYPE commitment to Skew Technologies, which is building institutional perpetual futures markets and outcome-based products using Hyperliquid's HIP-3 and HIP-4 infrastructure. Under the Skew agreement, Hyperion receives equity in the company as well as a share of listing-service revenues. Skew's private beta had already attracted more than 40,000 unique sign-ups as of August 10.
The dual partnerships give Hyperion exposure to both HYPE price appreciation and on-chain network activity, consistent with its stated goal of building multiple revenue streams within the Hyperliquid ecosystem. The company reiterated full-year 2026 adjusted gross profit guidance of $5 million to $7 million, roughly five times 2025 levels, and said it expects operating cash flow to turn positive before year-end.
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He ...
It looks like Machi(@machibigbrother) is really running out of money. He withdrew only 1,540 $USDC from #Binance. He had to sell Bored Ape #5715 for just 8.3 $ETH ($15,570), which he bought for 34.17 $ETH 3 years ago, to keep his $ETH long going. Current position: 2,800 $ETH($5.3M) Liquidation price: $1,863.08
24 minutes ago
Crypto influencer 'Maji Big Brother' withdrew only 1,540 USDC from Binance and sold Bored Ape Yacht Club (BAYC) NFTs to maintain his long Ethereum (ETH) position.
According to monitoring by OnchainDataNerd, Maji Big Brother may face increased financial pressure recently, having withdrawn just 1,540 USDC from Binance. Meanwhile, to maintain his long Ethereum (ETH) position, he sold Bored Ape Yacht Club #5715 for 8.3 ETH (≈$15,600) — an NFT he purchased three years ago for 34.17 ETH. His current long ETH position stands at 2,800 ETH, valued at roughly $5.3 million, with a liquidation price of $1,863.08.
24 minutes ago
AI chip maker Cerebras Systems falls 17.3% in pre-market trading on US stocks.
According to BIT (Bit.com) market data, shares of AI chip maker Cerebras Systems fell 17.3% in pre-market trading on US stocks, as the company's second-quarter revenue missed expectations.
24 minutes ago
Changxin Technology has surpassed Tencent Holdings to become China’s largest listed company by market capitalization.
Changxin Technology closed today with a market capitalization of 3.54 trillion yuan. As of Hong Kong's market close, Tencent Holdings (00700.HK) fell 4.46%, posting a market cap of 4 trillion Hong Kong dollars, equivalent to approximately 3.44 trillion yuan. Changxin Technology has surpassed Tencent to become China's largest listed company by market capitalization.
24 minutes ago
Iran: Will Wear Down the U.S. Through a Protracted War
In an interview broadcast on U.S. public television PBS on August 11 local time, Mohammad Reza Naghdi, advisor to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), stated that the two main goals of the U.S. war against Iran—overthrowing Iran’s leadership and splitting the country—have “already failed,” adding that “victory is on Iran’s side.” Naghdi pointed out that the U.S. has displayed confusion and uncertainty in this conflict, saying, “The U.S. keeps announcing new goals every few days, turning this into a war without strategy.” He also emphasized that Iran will continue to achieve victories. Over more than five months of confrontation with the U.S., Iran has not only accumulated experience but also found that U.S. military forces are weaker than expected. Iran must achieve deterrence to ensure enemies never dare attack it again, and one way to do this is to “prolong the war” to wear down the U.S., so that anyone considering attacking Iran in the future “will first weigh the cost they will have to pay.” (Source: CCTV International News)
24 minutes ago
South Korea's sovereign wealth fund KIC has made its first investment in Circle, holding a stake valued at $4.1 million in the second quarter.
Korea Investment Corporation (KIC) has made its first investment in Circle, a stablecoin issuer. Data disclosed by the U.S. Securities and Exchange Commission (SEC) shows that as of the second quarter of 2026, KIC held 65,443 shares of Circle, with a holding value of approximately $4.099 million (equivalent to about 5.83 billion South Korean won). Previously, KIC’s holdings of crypto-asset-related companies included Strategy, Coinbase, Block, Robinhood, and Riot Platforms. In Q2 2026, KIC reduced its stakes in Strategy, Coinbase, and Riot Platforms, while increasing positions in Block and Robinhood. The total value of its related U.S. stock holdings rose 27% from $132 million in Q1 to $168 million. Specifically, Strategy’s holding value dropped 32% from $10.61 million to $7.17 million; Coinbase’s fell 30% from $52.99 million to $36.93 million; Block’s surged 58% from $17.25 million to $27.34 million; Robinhood’s jumped 92% from $45.88 million to $87.96 million; and Riot’s rose 70% from $4.95 million to $8.42 million.
Bitcoin traded near $63,800 early Thursday, Aug. 13, as crypto markets struggled to build momentum from a U.S. inflation report that came largely in line with expectations.
Summary
Bitcoin traded near $63,800 as July inflation matched forecasts and failed to ignite fresh momentum. Hyperliquid led large-cap gains, while Velvet topped CoinMarketCap’s top-100 movers with a 23.76% surge Thursday. Bitcoin ETFs posted $61.1 million in outflows, while Ether ETFs attracted $7.4 million of inflows. July consumer prices rose 0.1% monthly and 3.4% annually, matching economists’ expectations for headline inflation. U.S. producer prices arrive Thursday before Jackson Hole, September jobs data, inflation, and Fed meeting. The largest cryptocurrency was little changed over the latest 24 hour period when checked around 06:20 UTC, after trading as low as roughly $63,200 during the previous session. crypto.news placed the broader crypto market capitalization near $2.27 trillion, with Bitcoin accounting for about 56.6% of the market.
Bitcoin briefly climbed above $65,000 ahead of the inflation report, but repeated attempts to establish a stronger move above that region failed. The loss of an immediate regulatory catalyst has also remained in the background after the Senate pushed the CLARITY Act process into September.
Bitcoin price stays muted after U.S. inflation data July consumer inflation provided some relief without triggering a sustained crypto rally. The BLS reported that headline consumer prices rose 0.1% from June and 3.4% from a year earlier. Core CPI, which excludes food and energy, increased 0.2% monthly and slowed to 2.5% annually.
The figures matched economists’ headline expectations closely enough to reduce fears of another near term Federal Reserve increase. Reuters reported that futures markets lowered the implied probability of a September rate hike to roughly 40% from 54% before the release. Asian equities responded more positively than crypto, with the MSCI Asia Pacific index rising about 1% and South Korea’s Kospi gaining more than 4%.
Bitcoin, however, remained pinned below $64,000. The muted response suggests the inflation reading removed one downside risk without supplying the new demand needed for another run toward $65,000.
HYPE leads major coins as top gainers and losers split Major cryptocurrencies were mixed rather than uniformly lower by Thursday morning. crypto.news showed Ether around $1,890, BNB near $611, XRP at $1.01 and Solana close to $76. TRON traded around $0.338, while Dogecoin changed hands near $0.0707. Cardano was about $0.184 and Chainlink traded near $8.74.
Crypto market overview, source: QuantifyCrypto Hyperliquid was the clear large cap outperformer. HYPE traded around $57 and gained roughly 4% to 5% over 24 hours depending on the data venue. That continued a recovery already visible last week, when HYPE rebounded from roughly $51 toward the $57 area.
The moves were more pronounced further down the market. CoinMarketCap ranked Velvet as the best performer among its top 100 cryptocurrencies, up 23.76% to about $0.70. Virtuals Protocol followed with a 9.86% gain to $0.596, while OKB rose 9.19% to roughly $104. Mantle gained 5.99%, followed by HYPE at 4.68%.
Audiera led the other side of the table with a 15.74% decline. Curve DAO Token fell 7.42%, Official Trump lost 5.75%, Uniswap dropped 5.55% and Pepe declined 4.34%. Dogecoin was also among the top 100 losers, falling about 2.1%.
Bitcoin ETF outflows contrast with Ether demand U.S. exchange traded fund flows offered another reason for Bitcoin’s subdued performance. Spot Bitcoin ETFs recorded $61.1 million in net outflows on Aug. 12, according to Farside. Fidelity’s FBTC accounted for $46.8 million of redemptions, while BlackRock’s IBIT lost $14.3 million.
Bitcoin ETF flow, source: Farside Ether funds moved in the opposite direction. U.S. spot Ether ETFs attracted $7.4 million, entirely through BlackRock’s ETHA, while every other listed fund recorded zero net flow for the session. The divergence followed $144.6 million of Bitcoin ETF outflows on Aug. 10 and a modest $7.8 million inflow the following day.
The latest redemptions also interrupted a stronger period of institutional Bitcoin demand. In related coverage, four consecutive Bitcoin ETF inflow sessions previously brought in $763.6 million before flows weakened this week.
What could move Bitcoin next? The immediate U.S. test arrives later Thursday. The BLS will release July producer prices at 8:30 a.m. ET on Aug. 13. A large surprise could again alter expectations for the Federal Reserve’s Sept. 15 to 16 meeting.
Attention then shifts to the Jackson Hole Economic Policy Symposium on Aug. 27 to 29. This year’s event focuses on financial innovation, payments and policy. The August employment report follows on Sept. 4, while August CPI arrives Sept. 11, giving policymakers two major data releases before the September meeting.
Brent crude was also back below $90 early Thursday after its recent advance, trading near $88.50 as weaker demand forecasts offset continuing Middle East supply concerns.
For Bitcoin, that leaves several competing forces. Inflation has not produced a fresh shock, but ETF demand has softened and $65,000 remains difficult to reclaim. The next PPI, employment and inflation readings will determine whether expectations continue shifting toward a Fed pause before September’s decision.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin fiyatı 13 Ağustos Perşembe günü 64.000 doların altında yatay seyrederken, ABD’nin beklentilerle büyük ölçüde uyumlu gelen enflasyon verisi kripto piyasasında yeni bir yükseliş başlatamadı. BTC’nin 65.000 dolar denemeleri sonuçsuz kalırken, spot Bitcoin ETF‘lerinden 61,1 milyon dolarlık çıkış yaşanması dikkat çekti.
Bitcoin, ABD temmuz TÜFE verisi öncesinde kısa süreliğine 65.000 doların üzerine çıktı. Ancak bu seviyenin üzerinde kalıcı olamadı ve yeniden 64.000 doların altına çekildi.
Piyasalar enflasyon verisini büyük bir sürpriz olmadan karşıladı. Buna rağmen Bitcoin’de güçlü bir alım dalgası oluşmadı.
Peki enflasyon verisi Fed’e ilişkin beklentileri desteklerken Bitcoin neden hâlâ 65.000 doları aşamıyor?
Bitcoin Neden 65.000 Doları Aşamadı? ABD’de temmuz ayında tüketici fiyatları aylık bazda %0,1, yıllık bazda ise %3,4 arttı. Çekirdek TÜFE aylık %0,2 yükselirken yıllık artış %2,5’e geriledi.
Veriler piyasa beklentileriyle büyük ölçüde uyumlu geldi. Bu nedenle enflasyon tarafında yeni bir şok oluşmadı.
Verinin ardından vadeli piyasalarda Fed’in eylül ayında faiz artırma ihtimali yaklaşık %40’a geriledi. Veri öncesinde bu oran yaklaşık %54 seviyesindeydi.
Normal şartlarda daha düşük faiz artışı beklentisi, Bitcoin gibi riskli varlıklar için destekleyici olabilir.
Ancak BTC’nin tepkisi sınırlı kaldı.
Bu durum, piyasada Fed beklentilerinin tek başına yeni bir yükseliş için yeterli olmadığını gösteriyor.
HYPE Yükseldi, Altcoinlerde Hareketlilik Arttı Bitcoin’in yatay seyrine rağmen altcoin piyasasında bazı tokenlar pozitif ayrıştı.
Hyperliquid (HYPE), büyük piyasa değerine sahip kripto paralar arasında en güçlü performanslardan birini göstererek yaklaşık %4,7 yükseldi.
Daha alt sıralarda ise hareket daha sert oldu. CoinMarketCap verilerine göre Velvet (VELVET) yüzde 23,76 yükselişle ilk 100 kripto para arasında günün en güçlü performansını gösterdi. Virtuals Protocol %9,86, OKB ise %9,19 yükseldi.
Ancak birkaç altcoinin yükselmesi, piyasanın genelinde yeni bir altcoin rotasyonu başladığı anlamına gelmiyor.
Şimdilik hareket seçici görünüyor.
Bitcoin ETF’lerinden 61,1 Milyon Dolarlık Çıkış Bitcoin’in 65.000 dolar üzerinde tutunamamasında kurumsal talep tarafındaki son gelişmeler de dikkat çekiyor.
Farside verilerine göre ABD’deki spot Bitcoin ETF’leri 12 Ağustos’ta toplam 61,1 milyon dolarlık net çıkış kaydetti. Fidelity’nin FBTC fonundan 46,8 milyon dolar, BlackRock’ın IBIT fonundan ise 14,3 milyon dolar çıkış gerçekleşti.
Buna karşılık spot Ether ETF’lerinde 7,4 milyon dolarlık net giriş görüldü. Bu girişin tamamı BlackRock’ın ETHA fonundan geldi.
Dolayısıyla kripto piyasasında kurumsal para akışı tamamen durmuş değil. Ancak son seansta Bitcoin ve Ether ETF’leri arasında belirgin bir ayrışma oluştu.
Bu ayrışmanın kalıcı olup olmayacağı, Bitcoin’in önümüzdeki günlerdeki performansı açısından önemli olacak.
Bitcoin İçin Sırada Hangi Veriler Var? Bitcoin açısından yeni hareketin oluşması için yatırımcıların gözü şimdi ABD’nin diğer ekonomik verilerine çevrildi.
Bugün açıklanacak Üretici Fiyat Endeksi (ÜFE), enflasyonun üretici tarafındaki seyrine ilişkin yeni bir ipucu verecek. Beklentilerdeki değişim, Fed’in eylül toplantısına yönelik fiyatlamayı da etkileyebilir.
Ardından piyasaların odağında Jackson Hole Ekonomi Politikası Sempozyumu, eylül ayı istihdam verisi ve ağustos TÜFE’si olacak.
Bitcoin için kritik nokta ise 65.000 dolar seviyesinin yeniden kazanılması.
TÜFE verisi piyasalardaki faiz artışı korkusunu azalttı ancak Bitcoin’i yeni bir yükseliş dalgasına taşıyamadı. ETF çıkışlarının devam etmesi halinde 65.000 dolar direncinin aşılması daha da zorlaşabilir. Buna karşılık kurumsal girişlerin yeniden güçlenmesi ve Fed beklentilerinin destekleyici kalması, Bitcoin’in bu seviyeyi yeniden test etmesini sağlayabilir.
Şimdilik piyasanın önündeki soru yalnızca “Bitcoin yükselecek mi?” değil:
65.000 dolar aşıldığında bu kez Bitcoin orada kalabilecek mi?
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Hyperliquid opened access to its Foundation operated low latency data infrastructure to qualified third party infrastructure providers on Aug. 12, creating a cheaper route for trading firms and developers that previously faced demanding direct access requirements.
Summary
Hyperliquid opened Foundation low-latency node access to qualified infrastructure providers under a standardized pricing model. Provider pricing is currently indicated below $1,000 monthly, covering computing resources and outbound network traffic. Qualified providers need one year operating history, 100 customers, five networks, and 99.9% availability levels. Direct Foundation access previously required staking 10,000 HYPE and Tier 1 maker rebate qualification status. Providers may not offer faster dedicated lines to individual market makers under Foundation access rules. The new provider model uses a current reference price below $1,000 per month for access, covering compute and outbound traffic.
The change applies specifically to connectivity with the Hyper Foundation’s non validating node. Running an independent non validating node has always been permissionless, according to Hyperliquid’s documentation. Direct peer access to the Foundation node, however, previously required staking 10,000 HYPE and reaching Tier 1 in maker rebates, defined as more than 0.5% of 14 day weighted maker volume.
Hyperliquid Opens Low-Latency Data Nodes to Infrastructure Providers at Under $1,000 a Month
Hyperliquid Foundation has opened its low-latency on-chain data nodes to qualified infrastructure providers, allowing them to offer access at standardized pricing, currently indicated at… pic.twitter.com/LfSJuid2ZS
— Wu Blockchain (@WuBlockchain) August 13, 2026 Hyperliquid opens Foundation node access beyond major makers Qualified providers must have operated for at least one year, serve at least 100 customers and support five or more networks or protocols. They also need 99.9% node availability and cannot have been terminated by another network or foundation for a breach during the previous three months.
The commercial rules are designed to limit information advantages between customers. Providers must offer open access and nondiscriminatory pricing, scale automatically as access nodes increase and cannot provide faster dedicated connections to selected market makers. Reports of verified preferential treatment may qualify for a Hyper Foundation bug bounty.
The reference price is intended to cover computing resources and outbound traffic. The Foundation describes the figure as a current benchmark, meaning the sub-$1,000 level should not be treated as a permanently fixed price. Providers are also barred from turning Foundation peering into preferential infrastructure for an individual trading firm.
The change targets latency-sensitive trading infrastructure Hyperliquid’s Foundation non validating node is designed to provide reliable, low latency blockchain data. A non validating node follows network activity without taking part in consensus. Hyperliquid also maintains open source node software in its repository, allowing users to operate their own nodes.
The access change follows earlier adjustments to Hyperliquid’s public WebSocket feeds. In June, the network directed automated traders needing more order book levels or real time update streams toward non validating nodes. The new provider route gives smaller teams another path without independently satisfying the Foundation’s former staking and maker volume requirements.
The shift also comes as professional trading infrastructure around Hyperliquid expands. Gold-i said this week that MatrixNET had integrated direct non validating node connectivity, providing institutional clients fuller order book depth and faster, more granular market data than the standard API. Gold-i has not been identified as a participant in the newly opened Foundation provider program.
As previously reported, Hyperliquid controls an estimated 70% of onchain perpetuals volume, making data quality increasingly relevant for firms competing in its order books. Separately, the Foundation controlled share of staked HYPE fell to about 49.3% this year as the validator base expanded.
What happens next for providers and HYPE Infrastructure firms that meet the published requirements can compete to provide Foundation connected data access under the new service conditions. Hyperliquid has not announced a named list of approved providers or a fixed rollout schedule in the materials reviewed. The next test will be whether multiple providers emerge while maintaining the required availability and equal access standards.
Hyperliquid (HYPE) price chart, source: crypto.news The broader change is narrower than opening Hyperliquid’s validator set or matching engine. It lowers the barrier to a specific low latency data path while leaving independent non validating nodes permissionless. For smaller market makers and trading developers, access is therefore less dependent on holding a large HYPE stake or already commanding substantial maker volume.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
TLDR: Hyperliquid generated over $800M in annual revenue, with about 99% of certain fees used to buy HYPE. Uniswap’s UNIfication activated protocol fees and included a one-time treasury burn of 100M UNI tokens. Aave spent about $42M buying over 205,000 AAVE in 10 months, equal to roughly 1.28% of total supply. Aave’s January 2026 revenue fell to $7.95M from $13.5M, prompting a proposal to cut annual buybacks to $30M. Crypto markets are increasingly being judged by a metric familiar to traditional businesses: how much revenue they generate and return to asset holders. Bitwise CIO Matt Hougan said in an Aug. 12 memo that this shift is weakening a long-running criticism of digital assets.
Historically, many networks could attract users, generate fees, and process billions in activity without creating direct economic benefits for native token holders. That model is changing as major protocols adopt buybacks, burns, and other mechanisms linking platform revenue with token economics.
Hougan’s argument does not equate crypto tokens with stocks. Instead, it highlights a clearer connection between protocol activity and token demand.
Hyperliquid and Uniswap Turn Protocol Fees Into Token Demand Hyperliquid provides the clearest example of the revenue model highlighted by Matt Hougan. Bitwise said the decentralized trading network generated more than $800 million in revenue last year.
The protocol directs roughly 99% of certain fee revenue toward purchasing HYPE, creating recurring token demand from trading activity. DefiLlama currently estimates Hyperliquid’s trailing-year revenue rate near $750 million, while monthly perpetual-futures volume recently reached about $190 billion.
The mechanism creates a measurable relationship between usage, fees, and token purchases. Instead of growth remaining separate from token economics, platform activity directly funds demand for HYPE through market purchases.
Uniswap has also strengthened that connection through its “UNIfication” overhaul. The governance proposal activated protocol fees and created a structure allowing collected fees to fund UNI burns.
It also included a one-time 100 million UNI treasury burn. That adjustment was significant as Uniswap had processed roughly $4 trillion in cumulative volume before the proposal was introduced. Previously, that activity did not produce a comparable direct value-accrual mechanism for UNI holders.
Aave Shows Why Revenue Alone Cannot Guarantee Token Value Meanwhile, Aave demonstrates the appeal and limits of revenue-based token analysis. The Aave DAO launched its buyback program in April 2025 and spent about $42 million purchasing more than 205,000 AAVE.
Those purchases represented approximately 1.28% of total token supply during the program’s first 10 months. However, a later proposal sought to reduce the annual buyback budget from $50 million to $30 million.
The proposal followed a drop in January 2026 revenue to $7.95 million from $13.5 million one year earlier. Aave then paused buybacks on April 19 after the rsETH incident to preserve treasury flexibility.
That decision showed why investors cannot treat protocol revenue as guaranteed token-holder cash flow. Governance decisions, security events, operating expenses, and treasury needs affect how much economic value reaches holders.
Regulatory conditions are also changing alongside these token models. SEC Chairman Paul Atkins, who took office in April 2025, has prioritized clearer rules covering crypto issuance, custody, and trading.
Still, revenue-generating tokens do not automatically give holders the legal rights associated with company shares. The shift is therefore centered on measurable value transfer rather than fees alone.
As Bitwise CIO Matt Hougan argues, revenue becomes more meaningful when token holders can clearly capture part of the economic activity a network creates.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Hyperliquid is reportedly lobbying U.S. regulators to open a pathway for regulated firms to offer perpetual futures on its blockchain, according to a report by The Information on Wednesday.
The news comes as market commentators point to improving fundamentals and institutional accumulation around the HYPE token.
Will HYPE Grab the Perps Market?Hyperliquid is engaging with the CFTC and SEC to allow U.S.-regulated companies to offer perpetual futures that trade and settle on its public blockchain, The Information reported.
The decentralized trading platform currently restricts U.S. users from accessing its services but is reportedly seeking no-action letters or new regulatory guidance that could allow its infrastructure to play a larger role in regulated U.S. markets.
The push comes as Hyperliquid’s underlying business continues to gain traction. The platform reportedly generated more than $900 million in profit last year.
In late July, VanEck’s Matthew Sigel highlighted Hyperliquid as an early leader and an example of crypto-native infrastructure expanding beyond digital assets.
He predicts HYPE to generate $800 million in annualized revenue.
Traders Debate if HYPE Is a BuyCrypto trader Michael van de Poppe highlighted HYPE as an asset worth watching during market weakness, arguing investors should focus on buying dips in assets that are gaining traction and have a strong narrative.
"HYPE has been one of those assets for almost a year," he said.
Arkham Intelligence data points to continued demand from Bitwise clients.
Bitwise-linked ETF clients have purchased more than $5 million worth of HYPE over the past week. The wallets tracked by Arkham have not sold any HYPE since last month and have only accumulated the token during August.
Trader Crypto McKenna sees an improving technical setup, noting that HYPE appears to be establishing a higher low following a deviation below its range low.
He also highlighted the upcoming AQAv2 launch at the end of August and increased fee flexibility for HIP-3 deployers as potential fundamental catalysts.
Altcoin Sherpa is also looking for accumulation opportunities but would prefer a deeper correction. He hopes to build a larger spot position if HYPE falls into the $40s. Currently, the setup does not offer attractive trading opportunities.
He added that the token does not currently offer an especially attractive active trading setup.
Price Action: Hyperliquid Strategies Inc (NASDAQ:PURR) is up 1.5% on the day, the 21shares Hyperliquid ETF (NASDAQ:THYP) is up 2.5%.
Image: Shutterstock
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A whale dormant for two years has transferred 1,770 BTC, incurring an unrealized loss of $19.8 million.
According to monitoring by Onchain Lens, a crypto whale transferred approximately 1,770 BTC (valued at around $112.14 million) after remaining inactive for roughly two years. The holding, which was received from Gemini, was worth about $131.91 million at the time, resulting in an unrealized loss of $19.8 million.
9 minutes ago
CPI slows as expected, dimming Fed rate hike bets; AI stocks surge, Bitcoin edges lower.
According to BIT (bit.com) market data, the as-expected slowdown in the Consumer Price Index (CPI) has dampened expectations of a Federal Reserve interest rate hike. The three major U.S. stock indexes closed mixed: the Dow Jones Industrial Average fell 0.04%, the Nasdaq rose 0.54%, and the S&P 500 gained 0.26%. Nvidia climbed 3.03% to close at $224.09, its highest closing price since June 2. Overnight in pre-market trading, Goldman Sachs maintained its "Buy" rating on Nvidia with a $285 target price. SpaceX jumped 9.65% as the company announced the launch of Grok 4.6 during the session. AI-related stocks surged across sectors: In the memory chip segment, SK Hynix rose over 9%, SanDisk gained more than 5%, Western Digital advanced over 3%, Seagate climbed over 7%, and Micron Technology rose over 4%. For optical communications and photonics products, Lumentum surged over 13%, Coherent gained more than 8%, and Corning rose over 5%. In the semiconductor equipment space, Applied Materials climbed over 4%, Lam Research advanced over 4%, and KLA rose over 3%. Among next-generation AI cloud service providers, Nebius jumped over 34% and CoreWeave surged more than 19%. Turning to the Middle East situation: Former U.S. President Trump stated that the U.S. has full control over the Strait of Hormuz. A spokesperson for Iran’s Revolutionary Guard responded that if Iran faces another threat, hundreds of thousands of miles of energy transmission lines, thousands of power plants, all U.S. and non-U.S. facilities, and even global infrastructure connected to the internet will be targeted. According to HTX market data, Bitcoin edged down 0.19% in the past 24 hours, trading at $63,423.
9 minutes ago
BlackRock’s ETF address withdraws 1,019.27 BTC and 301.77 ETH from Coinbase.
According to monitoring by Onchain Lens, BlackRock’s ETF address has cumulatively withdrawn 1,019.27 BTC (valued at approximately $64.64 million) and 301.77 ETH (valued at around $570,000) from Coinbase Prime over the past few hours.
9 minutes ago
A whale withdrew 4,650 ETH, valued at approximately $8.77 million.
According to Onchain Lens monitoring, a whale withdrew a total of 4,650 ETH (approximately $8.77 million) from Coinbase, FalconX, Galaxy Digital, and Cumberland over the past hour.
9 minutes ago
CoreWeave issues a new risk warning: Switching from NVIDIA chips to other chips will face difficulties.
CoreWeave Inc. has warned investors that shifting away from its current exclusive use of Nvidia AI chips could require significant time and capital. In a Wednesday regulatory filing, CoreWeave stated that changes in customer demand may force the company to invest "time, capital, and resources" to obtain alternative products to Nvidia GPUs. The company cautioned that this could ultimately impact its ability to deliver required products to clients.
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Nebius's stock closed up over 34%, marking its largest gain since September last year.
According to market data from BIT (bit.com), Nebius, a leading neo-cloud player, closed 34.14% higher, marking its largest single-day gain since September last year, though it fell 2.01% in after-hours trading. Earlier reports noted that Nebius (ticker: NBIS) released its second-quarter financial results: the company’s Q2 revenue reached $582.3 million, a 454% increase from $105.1 million in the same period last year. Adjusted EBITDA for Q2 stood at $236.2 million, compared to a net loss of $21 million in the year-ago quarter, turning profitable. Its adjusted net loss narrowed 64% to $33.2 million, down from $91.5 million in the same quarter last year. However, the company’s net loss from continuing operations in Q2 was $190.4 million, versus a net profit of $502.5 million in the year-ago period. For the first half of 2026, Nebius’ cumulative revenue totaled $981.3 million, up 529% year-over-year; adjusted EBITDA reached $365.7 million, compared to a net loss of $74.7 million in the same period last year.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Hyperliquid, the largest decentralized perpetual futures exchange by volume, is actively working to find a legally compliant way to serve US traders. The platform currently geo-blocks American users, but recent regulatory shifts have opened a narrow window that could change everything.
For years, perpetual contracts, the crypto-native instrument that lets traders bet on asset prices without expiration dates, existed in a gray zone under US law. The Commodity Exchange Act made offering them to American users a legal minefield, which is why platforms like Hyperliquid simply blocked US access entirely.
That changed on May 29, 2026, when the CFTC approved Kalshi’s BTCPERP contract. The approval was a landmark moment, essentially giving the green light for regulated US venues to list perpetual futures products. Kalshi even listed perpetual futures linked to Hyperliquid’s native HYPE token, a somewhat ironic development given that Hyperliquid itself can’t serve the very market where its token is now being traded.
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Hyperliquid’s Washington play Hyperliquid launched its Policy Center in Washington, D.C. in 2026, a dedicated operation focused on advocating for regulated access to on-chain markets. Jeff Yan, Hyperliquid’s founder, has been engaging directly with US policymakers to navigate the compliance landscape. The platform is reportedly exploring compliant partnerships and structural arrangements that would allow it to serve American traders without running afoul of CFTC jurisdiction.
The numbers that make this urgent Hyperliquid processed over $633 billion in combined perpetuals and spot volume during the first quarter of 2026 alone. It commands roughly 32% of the on-chain perpetual futures market as of mid-2026.
Grayscale, Bitwise, and 21Shares have all filed for spot HYPE ETFs in mid-2026, a development that could funnel traditional finance capital toward Hyperliquid’s ecosystem even as the platform itself remains inaccessible to US retail traders.
A double-edged sword The platform currently enforces geo-blocking for US and Ontario, Canada residents, but the underlying technology remains permissionless. Meeting CFTC requirements typically involves know-your-customer procedures, transaction reporting, position limits, and various risk management obligations.
If spot HYPE ETFs gain approval, they create a regulated on-ramp for institutional capital that doesn’t require Hyperliquid to solve its own US access problem. Institutions could gain exposure to the HYPE token through traditional brokerage accounts while the underlying platform continues operating offshore. However, ETF exposure to a token is not the same as access to the trading platform itself. Hyperliquid’s value proposition isn’t just its token — it’s the deep liquidity, tight spreads, and high-performance execution on its perpetual contracts.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Summary Crypto.com launched tokenized derivatives tracking roughly 1,500 US stocks and ETFs for users outside America. The product relies on a MiFID license secured through the acquisition of Foris Capital and custody with Alpaca. Kraken, Binance, Robinhood, OKX and Hyperliquid already run competing tokenized equity products with different structures. Regulators shut down a similar Binance and FTX attempt in 2021 within three months of launch. Crypto.com opened access on Wednesday to a new product line called Tokenized Stocks, a set of derivatives that mirror the price of about 1,500 US-listed equities and exchange-traded funds. The rollout targets users in the European Economic Area and other approved jurisdictions outside the United States, letting them buy fractional exposure to names like Apple, Nvidia and Tesla, as well as commodity funds such as SPDR Gold Shares, starting from $1. The exchange built the offering on a Markets in Financial Instruments Directive license it picked up through its acquisition of Foris Capital, and it settles trades instantly on-chain rather than through the traditional two-day clearing window.
A $1 Token Buys Price Exposure, Not a Share Certificate The product does not hand buyers real shares. Each token is a derivative contract that tracks price movement without transferring legal or beneficial ownership, voting rights or any say in corporate governance. Holders can still receive dividend-equivalent payments that mirror the underlying company’s cash distributions, even though they hold no equity stake. Collateral backing the tokens sits with Alpaca, a US self-clearing broker-dealer that already underpins more than 90% of the tokenized US stock market industry-wide. Depending on where a user is based, the legal issuer is either Foris Capital CY Limited in Cyprus or Foris Capital MU Ltd, and the Cyprus arm operates under supervision from the Cyprus Securities and Exchange Commission.
Trading runs continuously, including weekends, and the promotional fee structure currently sets commissions at zero, though the exchange notes that other platform charges may still apply. CEO Kris Marszalek tied the launch to a $400 million investment from Citadel Securities that valued Crypto.com at $20 billion, framing the funding as proof that markets “shouldn’t have to sleep.”
Crypto.com Tracks Prices, Some Rivals Put the Real Share on Chain Crypto.com’s approach sits on one side of a structural split that now defines the tokenized equity market. Synthetic or derivative models, which Crypto.com and Kraken both use, map the price of a stock without putting the actual security on-chain. Issuer-sponsored models instead aim to register real common shares as blockchain assets, giving holders an actual claim on the company. If an issuer like Crypto.com or Kraken runs into financial trouble, a synthetic-token holder has a claim on collateral held by a custodian like Alpaca, not a direct claim on the underlying shares the way a real shareholder would.
Synthetic · MiFID
Crypto.com
~1,500
stocks and ETFs covered
Collateral held in custody with Alpaca
Token Wrapper
Kraken · xStocks
100+
stocks and ETFs, SPL on Solana
Proprietary Chain
Binance · bStocks
$500M+
market cap
Over 90% of volume trades outside Wall Street hours
Proprietary Wrapper
Robinhood
Arbitrum
EU retail focus
Built for a traditional-broker style interface
Liquidity Integration
OKX
40+
tokenized stocks
Secondary liquidity venue, not the issuer
Synthetic Perps
Hyperliquid · HIP-3
$633B
Q1 2026 trading volume
Hosted synthetic SpaceX trading ahead of its 2026 IPO
BaFin Shut This Down Once Already, in Three Months Flat This is not the industry’s first run at putting Wall Street on-chain. Binance and FTX both launched fractional stock tokens in April 2021, covering names like Tesla, Apple and Coinbase, through partnerships with European firms CM-Equity and Digital Assets AG. Neither exchange filed the securities prospectuses regulators expected, and Germany’s BaFin along with the UK’s Financial Conduct Authority moved quickly. Binance pulled the product just three months after it went live.
The current wave looks different on paper. Crypto.com built its launch around an actual MiFID license and regulated custody, and Kraken’s perpetuals run under similar regulatory cover. BaFin’s 2021 objection centered on the absence of a prospectus, not the token mechanism itself; Crypto.com’s MiFID license and Kraken’s regulated derivatives venue are built to satisfy that specific requirement.
Weekend Token Prices Called 92% of Monday’s Gaps Binance’s own research points to something specific: more than 90% of on-chain bStocks trading volume happens while US markets are shut. The exchange’s data found that weekend token pricing correctly anticipated 92% of the Monday morning gaps that later showed up on Wall Street. On-chain volume peaked between 20:00 and 24:00 ET, the start of the Asian trading day, while activity on Binance itself clustered around the US pre-market open. They are running continuous price discovery on assets that traditional exchanges only reopen five days a week, and traders elsewhere are watching those weekend moves for signals.
Hyperliquid pushes the same idea further. Its Layer-1 chain processes roughly 200,000 actions per second and lets external developers list perpetual contracts on equity indices, commodities and even pre-IPO companies through tools like trade.xyz. Synthetic trading for SpaceX tracked closely with the eventual valuation the company reached at its June 2026 listing, giving retail traders a way to price a private company months before it reached a public exchange. Hyperliquid cleared more than $633 billion in trading volume in the first quarter of 2026 alone and now competes with Binance for the position of the world’s second-largest perpetuals venue by open interest.
A $2.49 Billion Market Now Splits Five Ways Between Rivals The tokenized equity market has grown roughly sixfold over the past year to reach a $2.49 billion valuation, and Citigroup expects the broader tokenized securities category to reach $5.5 trillion by 2030, with $2.6 trillion of that coming from tokenized equities specifically. Crypto.com now competes directly with Kraken, Binance, Robinhood and OKX for retail flow in this category, and each platform is betting on a different structure to win users. Investors comparing these products need to look past headline asset counts and check whether they are buying a synthetic price tracker or something closer to real ownership, since the two carry different risk profiles if a platform runs into trouble. Regulatory scrutiny is also likely to intensify as volumes rise, given how quickly authorities acted the last time exchanges tried this without a full licensing framework behind them.
Someone with wallet address 0xff84 on Hyperliquid, the decentralized perpetuals exchange, was staring down the barrel of a forced liquidation on a Bitcoin short position worth roughly $114.4 million. So they did what any rational person sitting on 40x leverage would do: they started cutting.
The trader closed approximately 250 BTC of the position across multiple transactions, eating a realized loss of about $33,400 in the process. That left a remaining short of around 1,543 BTC, valued at roughly $98.97 million, still live and still leveraged to the teeth.
Playing with fire at 40x The position peaked at around 1,793 BTC, with an average entry price hovering between $63,999 and $64,000. At 40x leverage, a 2.5% adverse move wipes out the entire margin.
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As Bitcoin’s spot price climbed in recent sessions, the liquidation threshold crept up to approximately $64,225. That’s a gap of just $225 from the entry price, or about 0.35%.
On-chain analytics firm Lookonchain, along with tracking service Hyperbot, flagged the activity as the trader began trimming the position to buy themselves breathing room. The partial close adjusted the liquidation price, giving the remaining $98.97 million short slightly more runway before an involuntary exit.
The wallet first appeared around early August 2026, funded with roughly 2.44 million USDC. Its initial move was opening a short of approximately 1,600 BTC, worth about $102.6 million at the time. Since then, the trader has been actively managing position size, scaling in and out based on price swings and funding rate changes.
The short squeeze math When large short positions get liquidated on-chain, the exchange’s liquidation engine buys Bitcoin to close the position. That buying pressure pushes the price higher, which can trigger liquidations on other short positions, which creates more buying pressure.
The remaining $98.97 million short from this single wallet represents meaningful fuel for exactly that kind of cascade. If Bitcoin’s price continues to grind higher and pushes through the $64,225 liquidation level, the forced closure of 1,543 BTC worth of shorts would inject substantial buying volume into a market that’s already trending upward.
The $33,400 loss the trader realized on the partial close might look modest relative to the position size. On a $114 million notional trade, it’s essentially a rounding error. But it signals something important: even whale-sized traders are being forced to play defense as Bitcoin’s price trends higher.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
@HyperliquidX controls roughly 70% of onchain perpetual futures volume, making it the clear category leader among decentralized derivatives venues. Yet it does not serve US users. Its policy arm, @HyperliquidPC, filed a joint comment letter with wallet maker Phantom in July, asking the Commodity Futures Trading Commission to clarify how existing rules apply to onchain software developers. The goal is to open the US market without waiting on stalled congressional action.
What the CFTC Filing Asks ForThe firms asked the CFTC to take three concrete steps: confirm that writing onchain protocol software alone does not trigger exchange or clearinghouse registration requirements; issue guidance allowing the commission's own registered markets to use onchain infrastructure for execution, clearing, and settlement; and formalize the no-action relief the CFTC granted to Phantom in March 2026 as a binding rule.
The filing, submitted July 9 in response to the agency's request for information on financial technology, argues that regulators should adapt derivatives rules for decentralized infrastructure rather than apply frameworks built for custodial intermediaries. @HyperliquidPC CEO Jake Chervinsky (@jchervinsky) is pushing for a favorable reading of existing rules rather than waiting on Congress to act.
That approach is not without opposition. CME Group and Intercontinental Exchange (ICE) have separately urged the CFTC and Capitol Hill officials to require Hyperliquid to register as a swap execution facility or contract market, arguing the platform's anonymous, round-the-clock trading could enable market manipulation and sanctions evasion.
A Regulatory Shortcut While Congress StallsThe lobbying push reflects how little Hyperliquid can rely on the legislative calendar. The House passed the CLARITY Act in July 2025 by a 294-134 vote, but Senate negotiations collapsed before the August recess. On August 8, 2026, Senate Majority Leader John Thune filed cloture on the motion to proceed to the bill, a move that kept the legislation alive and set up a first procedural vote for September 15. Without that filing, the bill would likely have been declared dead for 2026. Remaining sticking points include ethics clauses, illicit-finance provisions, and how to handle stablecoin rewards.
The commercial case for regulatory clarity is significant. Roughly 32% of Hyperliquid's second-quarter volume was tied to stocks and other real-world assets, a segment that straddles both CFTC and SEC jurisdiction and that US users cannot currently access on the platform. That jurisdictional complexity, spanning commodities, equities, and crypto derivatives, is precisely what makes a clear regulatory framework both valuable and difficult to achieve.
Sources:
Unchained Crypto: Phantom and Hyperliquid Ask CFTC to Exempt DeFi Software From Broker Rules
CoinDesk: US Senate Opens First Stage of Clarity Act Voting
CoinDesk: CME and ICE Push US Regulators to Scrutinize Hyperliquid
The price of HYPE has shown notable improvement, climbing to $55.68 with a gain of 2.47% over the past 24 hours. This recovery comes amid increased trading activity on the Hyperliquid platform, even as open interest on the exchange has dropped from recent highs.
Technical outlook remains cautiousRecent trading sessions saw HYPE recover from lows near the $53 to $54 range, pushing the token closer to short-term moving averages. Despite this upward move, buyers have not yet managed to trigger a breakout, leaving the short-term setup cautious.
Based on the daily chart, HYPE remains below its 20-period EMA at $56.05, the 100-period EMA at $56.64, and the 50-period EMA at $58.43. Currently, the token is holding above the 200-period EMA at $51.32, which continues to provide significant support.
Short-term technical momentum will improve if HYPE moves above the 50-period EMA at $58.43. Conversely, a drop below the 200-period EMA at $51.32 could weaken the broader setup. The immediate resistance level sits at $66.83, and a sustained break above this point may signal a turnaround for the HYPE price as it aims to recover higher chart levels seen previously.
Impact of Hyperliquid’s volume surgeHyperliquid Daily reported that the platform’s perpetual trading volume reached $218 billion in July, outpacing the combined activity of the next seven leading decentralized perpetual exchanges. Additionally, open interest for real-world asset (RWA) products under the HIP-3 proposal surpassed $4 billion.
While central exchange (CEX) futures trading volumes have contracted—falling to $4 trillion in July from peaks above $10 trillion in late 2025—activity on Hyperliquid continues to increase, with the platform gaining ground despite broad market declines.
Recent data from Coinglass shows the open interest on Hyperliquid shrinking from $2.9 billion at the start of July to about $2.3 billion, pointing to reduced leverage in the market amid the current price uptick.
Given these developments, sustained increases in Hyperliquid’s activity could have continued influence on the HYPE ecosystem. The ongoing consolidation in HYPE’s price highlights the cautious stance of traders, and market participants remain focused on key resistance and support levels to gauge the next significant move.
Market volatility demands careful monitoringAs cryptocurrency markets remain highly volatile, both technical signals and broader sentiment require careful attention. Rapid fluctuations in price, such as those experienced by HYPE, are common in this sector, particularly around resistance levels like $66.83.
In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Traders are urged to observe upcoming events, price action, and prevailing sentiment before making decisions, as market analysis and predictions do not guarantee outcomes. The recommendation to conduct independent research remains central amid this volatility.
Based on current technicals, HYPE is consolidating below resistance at $66.83 and above support at $51.32, with traders watching for a decisive breakout or breakdown to determine the next direction.
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.
Hyperliquid is turning its attention toward the U.S. market, according to a recent report by The Information.
The push comes at an important moment for the crypto industry. Hyperliquid has grown into one of the largest venues for crypto perpetual futures.
U.S. regulators are simultaneously trying to determine how derivatives, decentralized exchanges and other on-chain financial products should fit into a regulatory system largely designed around centralized intermediaries.
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The question, therefore, is not simply whether Hyperliquid wants to enter the United States. It is whether the existing regulatory framework gives a decentralized protocol a workable way to do so.
U.S. prohibition?In practical terms, Hyperliquid's current trading interface is closed to U.S. users. The Hyperliquid blockchain itself has been declared illegal in the United States.
Hyperliquid is a permissionless blockchain. Its network and smart contracts are distinct from the website interface through which many users access the protocol.
Hyperliquid's terms of use identify people and entities located in or resident in the United States as "Restricted Persons" and prohibit them from using the interface.
Perpetual futures are its most important product. In the U.S., derivatives markets are subject to an extensive regulatory framework that has been developed by the CFTC.
The Hyperliquid Policy Center has made precisely this issue the centerpiece of its Washington strategy. The organization says it is seeking a "clear, regulated path" for Americans to access onchain markets.
The Policy Center was launched in Washington in February 2026 and is led by crypto lawyer Jake Chervinsky.
Hyperliquid's remarkable growth Hyperliquid has plenty of economic reasons to pursue the U.S. after it recorded remarkable growth.
According to the Q2 report cited in the recent report on Hyperliquid, HYPE rose 79.2% during the second quarter.
This is the second consecutive quarter in which HYPE substantially outperformed the broader crypto market.
The platform has become large enough that Washington can no longer simply ignore it.
At the same time, American users remain largely excluded from direct access to the derivatives upstart.
Hyperliquid, a fast-growing decentralized derivatives platform, is exploring ways to enter the U.S. market amid heightened attention from American regulators. The Information reported that Hyperliquid’s expansion plans coincide with significant growth for the platform, which has increasingly drawn the attention of both users and policymakers.
Regulatory landscape in the USU.S. regulatory agencies are currently evaluating how to integrate derivatives, decentralized exchanges, and other on-chain financial products with a framework traditionally focused on centralized intermediaries. This situation presents unique challenges for platforms like Hyperliquid, which operates without central control and allows users to interact directly with its blockchain-based protocol.
At the moment, Hyperliquid’s trading interface is not available to users in the United States. The Hyperliquid blockchain has been declared illegal within the country, and the project’s terms of use specifically label all individuals and entities based in the U.S. as “Restricted Persons,” barring them from accessing its services through the official interface.
Despite these restrictions, Hyperliquid continues to attract interest for its permissionless network, where the underlying blockchain and smart contracts function independently from the web interface that most participants use.
Strategic efforts toward compliancePerpetual futures remain central to Hyperliquid’s offerings. However, these products fall under an extensive regulatory regime overseen by the Commodity Futures Trading Commission (CFTC) in the U.S., complicating direct access for domestic users. As a result, Hyperliquid’s leadership has prioritized regulatory engagement.
The Policy Center, based in Washington and launched in February 2026, is spearheading this initiative. Led by crypto attorney Jake Chervinsky, the Policy Center focuses on finding a “clear, regulated path” for U.S. residents to participate in on-chain derivatives markets.
The Hyperliquid Policy Center has set its sights on regulatory clarity, aiming to provide Americans with secure and legal access to advanced on-chain financial tools.
Interest in developing pathways for domestic participation has been driven by both regulatory necessity and the platform’s impressive economic performance. The Q2 report found that HYPE, Hyperliquid’s native token, jumped 79.2% during the second quarter, marking the second straight period in which it surpassed overall crypto sector growth.
Growing market influenceWith this rapid expansion, Hyperliquid’s profile has risen to a level where U.S. policymakers and regulators can no longer overlook the project’s influence on derivatives markets. Nevertheless, American individuals and institutions remain largely blocked from directly using the platform.
As traditional markets adapt to new technologies, a fundamental shift is underway. Wall Street institutions are increasingly testing and adopting web3 platforms, moving toward direct ownership of shares and commodities in crypto wallets. Platforms such as 1stepSwap now enable investors to hold tokenized real-world assets, including U.S. equities, gold, and silver, directly on-chain while accessing optimal prices without third-party intermediaries.
Hyperliquid continues to prioritize regulatory engagement and user protection as it builds on its strong performance and looks to open access for U.S. users.
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.
Hyperliquid, a decentralized perpetual futures exchange, is reportedly aiming to expand its operations into the United States despite ongoing regulatory challenges. The exchange, which currently blocks U.S. users from its front-end due to compliance issues, is seeking a path to offer on-chain derivatives within the U.S. market. This development comes amid pressure from established exchanges like CME Group and Intercontinental Exchange (ICE), which have urged U.S. regulators to impose tighter controls on Hyperliquid. The exchange’s policy arm has engaged in discussions with U.S. regulators, including a recent meeting with the SEC’s Crypto Task Force, indicating its intent to navigate the complex regulatory landscape.
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Key Takeaways Hyperliquid’s exploration of a U.S. expansion suggests a strategic initiative to tap into the American market despite existing regulatory barriers. The involvement of regulatory bodies like the SEC indicates that the exchange is actively seeking a compliant path for its services in the U.S. Market pricing suggests a cautious outlook, with the current odds of Hyperliquid reaching $100 by the end of 2026 standing at 13.5% YES. What to Watch Observers will be keen to see how U.S. regulators respond to Hyperliquid’s proposed expansion plans and whether they will require the exchange to adopt new compliance measures. Key developments to watch include any announcements from Hyperliquid regarding partnerships or regulatory approvals that could impact their market trajectory. Changes in the odds for Hyperliquid’s price targets, particularly any significant shifts, may indicate evolving market sentiment in response to these regulatory discussions.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 13.5% — — View market → January 1 2027 4.1% — — View market → January 1 2027 3.1% — — View market → January 1 2027 27.5% — — View market → January 1 2027 8.9% — — View market → January 1 2027 3.4% — — View market →
Key Highlights HYPE currently trades at $55.39 following a successful reclaim of critical moving-average support, positioning for a potential $57 breakout Technical analyst BATMAN reports HYPE bounced from its three-day MA and successfully recaptured a key support zone that was previously lost Major whale activity detected with $7.29 million HYPE purchase on Coinbase, indicating strong institutional confidence xStocks platform debuts on Hyperliquid, bringing tokenized stocks and ETFs with round-the-clock trading capabilities Platform destroyed $1.07 million in HYPE over 24 hours; cumulative burn reaches 47.62 million tokens, representing 4.76% of maximum supply The HYPE token from Hyperliquid is demonstrating fresh momentum following a technical recovery from its three-day moving average support. Currently, HYPE is valued at $55.39, registering a 1.5% gain over the last 24 hours, supported by a market capitalization of $13.96 billion and daily trading volume reaching $252.9 million.
Hyperliquid (HYPE) Price Technical analyst BATMAN highlighted on X that HYPE has successfully recaptured a support level that was previously breached, following its bounce from moving-average support. The token is currently retesting this reclaimed area, which traders view as critical for validating the sustainability of the current recovery.
Should buyers successfully maintain support at this critical juncture, technical projections suggest a potential advance toward $57. Market observers are awaiting confirmation signals before declaring a sustained upward breakout.
Significant whale activity has reinforced the bullish sentiment. Analyst Ted Pillows reported on X that a single large-scale buyer acquired $7.29 million worth of HYPE through Coinbase in a single transaction. Ted Pillows characterized the move as clear “Accumulation,” suggesting heightened conviction among major market participants.
xStocks Platform Introduces Tokenized Stock Trading on Hyperliquid The xStocks platform has officially launched on Hyperliquid, introducing tokenized equities and exchange-traded funds through HyperCore infrastructure. The initial rollout features five tokenized assets, selected based on their highest open interest within HIP-3 perpetual futures markets.
xStocks is now live on @HyperliquidX.
Our first deployment on HyperCore starts with a total of 5 tokenized equities and ETFs, including the leaders in open interest across HIP-3 perps.
24/7 liquidity. Meeting traders where they already are. With more assets to come. pic.twitter.com/c70lqRGOtB
— xStocks (@xStocksFi) August 10, 2026
This integration enables cryptocurrency traders to gain exposure to traditional financial markets continuously, eliminating restrictions imposed by conventional trading hours. The platform seamlessly connects tokenized equity products with Hyperliquid’s established derivatives infrastructure.
Sustained Token Burning Activity Continues From a fundamental perspective, Hyperliquid eliminated approximately $1.07 million in HYPE tokens within a 24-hour timeframe, as reported by Onchain Lens. During this same period, the platform generated approximately $1.45 million in fee revenue.
Total tokens burned have now reached 47.62 million HYPE, valued at approximately $2.63 billion based on current market prices. This burn volume accounts for 4.76% of the one billion token maximum supply.
The sustained burn rate demonstrates ongoing platform activity and utilization. When combined with the xStocks platform launch and increasing whale accumulation patterns, these metrics indicate a thriving and expanding ecosystem.
HYPE’s immediate price trajectory hinges on whether buyers can maintain control of the recently reclaimed support level and generate enough momentum to break above current resistance toward the $57 target zone.
TLDR HYPE trades near $55, still about 28% below its June 16 all-time high of $76.87 Analysts flag $52-$53 and $51 as key support zones traders are watching A reclaim of $57 and $59 could open a path toward $67 xStocks launched tokenized stocks and ETFs on Hyperliquid for round-the-clock trading Hyperliquid’s HIP-3 real-world asset markets are seeing growing open interest, led by the S&P 500 Hyperliquid’s HYPE token is trading near $55 as of August 12, 2026. That price sits about 28% below the token’s all-time high of $76.87, set on June 16.
Traders are watching whether HYPE can hold recent support or slip toward lower levels. The token has shown small gains and losses over the past day, depending on the data source.
Hyperliquid Price on CoinGecko Separate reports place HYPE between $54.56 and $55.39, with 24-hour trading volume ranging from $185 million to $253 million.
Analyst Cryptoprime247 pointed to the $52-$53 range as a support zone after HYPE’s drop from its June peak. Buyers have tried to push price back above $55 but have not held it for long.
Trader JordiCharts named $51 as a critical level for HYPE. He said a break below could send price into a demand zone in the low $40s, while reclaiming $59 would be a healthier sign.
Pivot calculations referenced in market data place support near $51.11 and resistance near $59.16, close to the levels named by both analysts.
HYPE Eyes a Move Toward $57 Crypto analyst BATMAN said HYPE bounced off its three-day moving average and reclaimed a support level it had lost. Price is now retesting that zone.
BATMAN said that if the support holds, HYPE could work toward a $57 target. He added that confirmation is still needed before that move plays out.
Trader melonfarmer5 pointed to $67.20 as a monthly value-area reference. He described the setup as having a bullish bias if Bitcoin stays supportive.
Not every analyst expects a quick recovery. Altcoin Sherpa said HYPE may suit a passive accumulation approach rather than a short-term trade right now.
Altcoin Sherpa said HYPE could fall toward $42 before a stronger recovery begins. A reversal from that zone, he said, could eventually open a path toward $75.
xStocks and HIP-3 Expand Hyperliquid’s Reach xStocks announced its launch on Hyperliquid, bringing tokenized stocks and ETFs to the network through HyperCore technology. The first release includes five tokenized stocks and ETFs tied to the platform’s highest open interest markets.
xStocks is now live on @HyperliquidX.
Our first deployment on HyperCore starts with a total of 5 tokenized equities and ETFs, including the leaders in open interest across HIP-3 perps.
24/7 liquidity. Meeting traders where they already are. With more assets to come. pic.twitter.com/c70lqRGOtB
— xStocks (@xStocksFi) August 10, 2026
The launch allows trading of these assets around the clock, without the hour limits of traditional stock markets.
The account Hyperliquid Daily shared data showing growth in HIP-3 real-world asset markets. The S&P 500 market leads with $490.5 million in open interest, followed by SKHX at $454.2 million.
SPCX and Brent Oil hold $254.7 million and $233.6 million in open interest. Other markets, including XY100, CL, and Silver, also show activity above $100 million each.
Hyperliquid’s Assistance Fund continues to buy back HYPE using protocol fees. As of May 19, 2026, the fund had removed 44.35 million HYPE from circulation, about 4.4% of the token’s initial supply.
Hyperliquid recorded about $218 billion in trading volume during July, even as activity across decentralized perpetual exchanges slowed overall.
Hyperliquid just gave its native token standard a feature that traditional finance has had for decades but crypto has largely lacked: the ability to cleanly split, redenominate, and proportionally adjust token balances without breaking everything in the process.
The upgrade introduces a deployer-controlled scaleWei function to the HIP-1 token standard, allowing atomic proportional balance transfers across all holders of a given token. Think of it as the on-chain equivalent of a stock split, except it also handles airdrops, dividends, repricing, and reverse splits, all executed in a single atomic operation on Hyperliquid’s Layer-1 blockchain.
What scaleWei actually does The scaleWei function sidesteps the traditional migration mess entirely. When a deployer triggers it, every balance of the referenced HIP-1 token gets scaled proportionally in a single atomic transaction. No migration contracts, no user action required, no liquidity fragmentation.
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Critically, open orders on Hyperliquid’s exchange are also automatically adjusted when the scaling action references the same token. That means a limit order sitting on the book doesn’t suddenly become nonsensical after a 2-for-1 split. The order’s size and price parameters get recalibrated to reflect the new denomination.
Who controls the lever Access to the scaleWei function is restricted to two categories: system addresses and signed vaults. In practical terms, this means only the original deployer of a HIP-1 token, or an authorized vault structure, can trigger a balance scaling event.
The function builds on HIP-1’s existing parameter set, which already includes weiDecimals, szDecimals, maxSupply, and genesis distribution mechanics. HIP-1 itself remains a capped-supply fungible token standard native to Hyperliquid’s L1, meaning these tokens aren’t ERC-20s living on Ethereum. They’re first-class citizens of Hyperliquid’s own chain, with the exchange’s order book integrated at the protocol level.
The RWA play becomes more obvious Recent equity-related spot listings on the platform have already signaled the direction of Hyperliquid’s positioning toward tokenized real-world assets. With scaleWei, a deployer managing a tokenized equity on Hyperliquid can now execute a proportional distribution, like a dividend paid in the same token, by simply scaling all balances upward. A reverse split works the same way in the opposite direction. The atomic nature of the operation means there’s no window where some holders have been adjusted and others haven’t.
Where this fits in the broader upgrade timeline The scaleWei addition is part of a broader sequence of protocol enhancements. The platform’s upgrade path has included HIP-1 through HIP-4, each addressing different aspects of the protocol’s functionality. HIP-1 established the foundational capped-supply fungible token standard, while subsequent proposals have layered on additional features including liquidity bootstrapping, permissionless perpetual market creation, and prediction markets.
The initial market response has been muted, with no significant price movement on the back of the announcement.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
HYPE, the native token of Hyperliquid, is currently trading around $55, marking a decline of approximately 28% from its June 16 all-time high of $76.87. Hyperliquid operates as a decentralized perpetual exchange, focusing on delivering seamless and continuous derivative trading opportunities for digital assets.
Key support and resistance levels emergeAnalysts have flagged the $52 to $53 region as an initial support zone to watch, following HYPE’s retreat from recent highs. Over the past day, the token has experienced modest fluctuations, with separate data sources reporting its price between $54.56 and $55.39. Trading volumes remain high, ranging from $185 million to $253 million within 24 hours.
According to Cryptoprime247, traders have made several attempts to reclaim the $55 mark, but have struggled to sustain upward momentum. Another market participant, JordiCharts, identified $51 as a decisive support level. He indicated that any sustained move below this level could trigger a decline toward the low $40s, while a recovery above $59 might signal a healthier technical outlook.
Pivot-based market data currently places principal support near $51.11 and resistance at $59.16, aligning with the levels cited by both Cryptoprime247 and JordiCharts.
BATMAN, a crypto analyst, said HYPE has recently bounced off its three-day moving average and regained a critical support area, though it is now retesting that level. If support continues to hold, price targets of $57 and above could come into play, pending further confirmation.
LevelPriceCurrent price$55All-time high (June 16)$76.87Key support (analysts)$52-$53, $51Key resistance (analysts)$57, $59, $67Potential downside zoneLow $40sAnalyst perspectives on future price actionBATMAN has highlighted that, while HYPE has rebounded from key averages, the coin needs ongoing support at current levels to target higher price zones. He emphasized that confirmation will be crucial for any sustainable upward move. Trader melonfarmer5 has identified $67.20 as a longer-term value area, suggesting a bullish setup if broader crypto market conditions, particularly Bitcoin‘s performance, remain favorable.
In contrast, Altcoin Sherpa presented a more measured outlook, advocating for a gradual accumulation approach rather than short-term speculative trading. He mentioned that a dip toward $42 could set the stage for a more substantial bounce toward the $75 area in the future.
Altcoin Sherpa suggests that HYPE may experience a deeper pullback before staging a larger recovery, but a pivot from the $42 level could reignite bullish momentum.
xStocks brings tokenized equities to HyperliquidxStocks has launched its service on Hyperliquid, allowing users to trade tokenized stocks and exchange-traded funds (ETFs) through the network’s HyperCore technology. The initial phase includes five tokenized equities and ETFs representing the platform’s most active markets by open interest.
This move introduces 24/7 trading for these traditional assets, contrasting with the fixed operation hours of legacy stock exchanges. xStocks specializes in expanding access to traditional financial instruments by converting them into blockchain-based tokens that can be traded instantly.
Mini dictionary: Hyperliquid HIP-3, a standard for tokenizing real-world assets (RWAs) on the Hyperliquid blockchain, enables decentralized trading of assets like stocks, indices, and commodities by using perpetual contract markets.
Data from Hyperliquid Daily shows the HIP-3 market for S&P 500 leading with $490.5 million in open interest, followed by SKHX with $454.2 million. Other markets, such as SPCX and Brent Oil, have respective open interest figures of $254.7 million and $233.6 million, with several others surpassing $100 million each.
The Assistance Fund established by Hyperliquid continues to support the token’s price by using protocol fee revenue to buy back HYPE. As of May 19, 2026, the fund had removed 44.35 million HYPE from circulation, equal to about 4.4% of the initial token supply.
In July, Hyperliquid recorded roughly $218 billion in trading volume, reflecting significant activity even as other decentralized perpetual exchanges saw a moderation in market participation.
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.
HYPE, the native cryptocurrency of Hyperliquid, is trading close to $55 on August 12, 2026, standing 28% below its all-time high of $76.87 set on June 16. Despite recent fluctuations, traders remain focused on whether the token can maintain support or slide further.
Support and resistance levels draw attentionAnalysts place HYPE’s current price between $54.56 and $55.39, with reported 24-hour trading volumes ranging from $185 million to $253 million. These levels are drawing close scrutiny from both technical traders and market participants observing the token’s recent volatility.
Market analyst Cryptoprime247 identified the $52-$53 zone as an important support area following HYPE’s retreat from its June peak. Attempts by buyers to push the price back above $55 have not held for long.
JordiCharts, another prominent trader, highlighted $51 as a decisive threshold. He considers this level crucial, suggesting that a break below could cause the price to enter a demand zone in the low $40s, whereas reclaiming $59 would offer a more optimistic outlook.
Pivot point calculations referenced by multiple market sources place support near $51.11 and resistance at $59.16, closely aligning with views from both analysts. This focus on clear technical levels shapes much of the current trading narrative around HYPE.
Support LevelResistance Level$51.11$59.16$52–$53 (zone)$57 (target)$51 (critical level)$67.20 (value area reference)Potential for recovery hinges on technicalsCrypto analyst BATMAN observed that HYPE recently rebounded from its three-day moving average, regaining a previously lost support line and now retesting that area. He suggested that holding this support could allow HYPE to target $57, but cautioned that further confirmation is needed before resuming an upward trend.
BATMAN noted that not only did HYPE bounce strongly from its three-day moving average, but the token has also reclaimed a former support level and is in the process of retesting it. He sees the current technical setup as incomplete, with confirmation still required for any bullish move.
Trader melonfarmer5 pointed to $67.20 as a key monthly value area, suggesting that continued strength in Bitcoin could maintain a bullish tone for HYPE. In contrast, Altcoin Sherpa recommended a cautious approach, commenting that HYPE may be better suited for gradual accumulation due to ongoing risks of another price dip.
Altcoin Sherpa speculated that HYPE could fall toward $42 before mounting a stronger rebound, with a potential reversal from that region possibly paving the way for a climb back toward $75.
Tokenized stocks and new products strengthen HyperliquidxStocks recently introduced tokenized stocks and ETFs to the Hyperliquid network, utilizing its HyperCore technology. This initial rollout features five tokenized equities and ETFs linked to the network’s highest open interest markets, allowing users to trade these assets around the clock outside traditional market hours.
Hyperliquid, a decentralized perpetual exchange platform, has seen growing engagement in its HIP-3 real-world asset markets, where S&P 500 contracts currently lead with $490.5 million in open interest. Other prominent markets include SKHX, SPCX, Brent Oil, XY100, CL, and Silver, each maintaining open interest above $100 million.
The platform’s Assistance Fund continues to buy back HYPE from protocol fees, removing 44.35 million tokens from circulation as of May 19, which represents 4.4% of the original supply. In July, Hyperliquid recorded about $218 billion in trading volume, despite a broader slowdown in decentralized perpetual exchange activity.
Mini dictionary: Hyperliquid is a decentralized derivatives trading platform that allows users to trade perpetual contracts and real-world assets with high liquidity, round-the-clock access, and a focus on protocol-driven features such as the Assistance Fund for buybacks.
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.
Bitwise’s ETF clients spent more than $5 million on Hyperliquid’s HYPE token in the past week and have not sold any holdings since July. Despite a 14% decline in HYPE’s price over the last 30 days, the token remains up 118% since the start of the year.
Ongoing accumulation and market signalsBlockchain analytics platform Arkham reported that Bitwise ranks among the largest HYPE ETF issuers and has not sold a single HYPE token since the end of July. All August transactions conducted by the firm and its associated investors were purchases, according to Arkham Explorer. This data represents on-chain activity and is not an official statement from Bitwise.
While the recent investment amount is relatively minor compared to the broader crypto sector, Arkham pointed out that the accumulation trend is significant. Consistent buying by a major player often signals increasing confidence in the token’s underlying fundamentals.
Arkham highlighted that a firm consistently acquiring tokens sends a markedly different message than one balancing outflows against inflows.
As traders watch the market’s shifting dynamics, timely access to live data and multi-functional tools becomes essential. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Bitwise launches Hyperliquid ETF on NYSEBitwise debuted its Hyperliquid ETF (BHYP) on the New York Stock Exchange in May 2026. Trading began a day after its May 14 launch. The company stated that this was among the first spot Hyperliquid products available in the United States and featured a unique staking capability managed through Bitwise Onchain Solutions.
As of April 1, 2026, Bitwise reported $11 billion in assets under management. The company set a sponsor fee of 0.34% for the ETF but waived all fees for the first month on investments up to $500 million.
Matt Hougan, Chief Investment Officer at Bitwise, described Hyperliquid as “one of the most compelling investment opportunities in crypto today,” crediting the platform’s underlying architecture for channeling trading activity directly to token holders.
European expansion and product featuresBitwise also expanded the HYPE product to Europe with the listing of the Bitwise Hyperliquid Staking ETP (BHYP) on Deutsche Börse Xetra on April 9, 2026. Bradley Duke, Head of Europe at Bitwise, described the listing as a timely addition to the firm’s European offerings and said it is the company’s seventh such product.
The European ETP tracks the Kaiko HYPE Reference Rate LDNLF index and carries an annual expense ratio of 0.85%. It targets a 1.00% net staking reward, with a third of staking rewards kept by Bitwise to cover operational costs. Staking revenue is collected daily and compounded, increasing each investor’s overall crypto holdings over time.
Token mechanics and trading impactCoinbase Institutional characterized HYPE as a token that behaves more like a claim on exchange revenue rather than a purely DeFi asset. In a March 5, 2026 note, Coinbase researchers detailed that the Hyperliquid protocol channels its fees into an Assistance Fund, which converts 97% of this revenue into buybacks of the HYPE token, effectively reducing the circulating supply. Coinbase estimated annualized protocol fees at approximately $1 billion.
Demand and transaction flows are key for HYPE’s ongoing price movement. Hyperliquid recorded $2.9 trillion in trading volume in 2025, representing a year-over-year increase exceeding 400%, and currently accounts for about 60% of global on-chain derivative open interest, according to Bitwise. With a market value above $11 billion, HYPE ranks as the tenth-largest cryptocurrency by market capitalization.
Whether Bitwise continues accumulating HYPE through August is expected to be reflected first in Arkham’s blockchain data.
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.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
DoubleZero partners with Kalshi to launch real-time market data subscription service
DoubleZero has announced that Kalshi’s real-time order book data is now live on its DoubleZero Edge platform, delivering institutional-grade market data supported by multicast and dedicated fiber connectivity. The offering includes full-depth order books and all active sports and crypto perpetual contracts. It is understood that this integration enables quantitative traders and market makers to access machine-readable, zero-format real-time data without building their own infrastructure, supporting pricing, hedging, and signal generation, and significantly lowering the threshold for algorithmic trading in prediction markets.
7 minutes ago
Bitcoin ETFs see $16.97M outflow, Ethereum ETFs attract $7.28M inflow on Aug 12
A prominent trader notes that the Clarity Act will play the same role crypto ETFs served in the last cycle, and Bitcoin could bottom out and rally ahead of the bill’s passage.
Prominent trader Killa posted that during the last bull run, Bitcoin began recovering from lows ahead of ETF rumors and formal approval, emphasizing markets typically price in positive news in advance. This cycle could follow a similar pattern: the current "Clarity Act" (Regulatory Clarity Act) is shaping a new narrative. "If it indeed acts as a catalyst, it will likely mark the start of BTC’s first meaningful rally phase since the recovery from the prior bear market, and its approval will soon push Bitcoin to a new all-time high (ATH)—just like the ETF approval did," Killa noted. A BTC-focused quantitative trader, Killa correctly predicted the peak of this bull run in May 2025 and has over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, then switched to a long position during the broad market sell-off on June 5.
7 minutes ago
Lightspeed plans to raise $600 million for its secondary fund to ramp up investments in OpenAI and Anthropic.
According to Bloomberg, Lightspeed Venture Partners is seeking to raise roughly $600 million via secondary transactions to extend its investment exposure to OpenAI and other AI companies, as well as make additional investments in AI model firm Anthropic. Sources familiar with the matter said the fundraising deal is internally codenamed "Project Mercury" and involves multiple secondary funds under Lightspeed, including the Select V Fund, Opportunity II Fund, and a portion of assets in a separately managed account. Lightspeed aims to provide liquidity to investors through these secondary market transactions while maintaining long-term holdings in leading AI sector companies.
7 minutes ago
Google raises prices of its new smartphones due to memory shortages.
According to market sources, Google has raised the price of its new smartphones due to memory shortages, with the new models reportedly costing $100 more than the previous generation.
Wintermute plans to invest approximately $1 billion over the next five years in high-frequency trading and AI data center infrastructure development.
According to Bloomberg, crypto market maker Wintermute plans to invest roughly $1 billion over the next five years in high-frequency trading (HFT) and AI data center infrastructure, while expanding into traditional financial markets including stocks, commodities, and foreign exchange (FX). Wintermute founder and CEO Evgeny Gaevoy stated that the firm aims to gradually transition into a full-service trading house similar to Jane Street or Citadel Securities. Gaevoy noted that competing with institutions that have refined technology and infrastructure in traditional markets for decades requires large-scale investment. In addition to reducing trade execution latency, Wintermute must continuously leverage massive market datasets to train and retrain more complex quantitative models, while securing sufficient computing, storage, and networking resources. The infrastructure investments are expected to be funded primarily by the firm’s retained earnings. Due to the crypto market downturn, Wintermute’s average daily trading volume has dropped from roughly $15 billion last year to $10 billion this year. Currently, around 10% of the firm’s revenue comes from non-crypto markets, with a target to lift that share to over 50% by the end of 2027. The firm has already started trading ETFs, perpetual contracts linked to real-world assets (RWAs), and will launch prediction market trading services in early 2026. Last week, Wintermute announced that its U.S. subsidiary has registered as a broker-dealer, enabling it to trade stocks, stock options, and act as an authorized participant for exchange-traded products (ETPs). The firm currently has 17 employees in New York, with plans to double that local headcount next year, while its global workforce is projected to grow by 40%.
1 minutes ago
Harmony: Rollback is currently the most widely supported resolution plan, and the team is still working on a specific implementation plan.
Harmony stated in a post that its team has traced 409 wallets that received fraudulently minted tokens, involving a total of 10,288 transactions, and has alerted partner exchanges to hundreds of suspicious deposit transactions. The affected exchanges promptly blocked the hacker wallets thereafter. Just four hours after the emergency patch was released, 53% of validators have now completed the upgrade. The team continues to advance patch deployment and manage the aftermath of the incident. Regarding the follow-up response, a rollback appears to be the most widely supported feasible solution at present. The team is still formulating a specific plan and is expected to release more details in the coming hours.
1 minutes ago
Elon Musk: AI will account for 99% of SpaceX's valuation, with the goal of building 10 gigawatts of computing power by the end of next year.
Elon Musk said AI has become an "extremely important part" of SpaceX's future, projecting that the company's AI business revenue will surpass all other business segments in September and will "significantly outpace" other businesses in the fourth quarter. He added that AI will account for 99% of SpaceX's valuation within five years. SpaceX has built the "world's most powerful AI training cluster" and plans to expand its existing computing power scale by roughly tenfold by the end of next year, targeting 10 gigawatts of capacity, which corresponds to a potential annual revenue of $300 billion to $500 billion. Musk also predicted that Starlink will carry more than 90% of global internet traffic in the future. He further stated that SpaceX plans to use all of the company's data to train Grok, adding that employees will serve as the "parents" of the AI, with their thoughts, ideas, and beliefs to be inherited by the model. However, he did not provide further details on how employee data will be specifically used for training.
1 minutes ago
Dan Bin's U.S. stock holdings undergo a major reshuffle: he has increased positions in AI chips, newly added Intel which has become his second-largest heavy holding, and liquidated all his positions in Apple and Tesla.
US Securities and Exchange Commission (SEC) 13F filings disclosed on August 11 show that as of June 30, 2026, the Dongfang Harbour Overseas Fund, managed by Dan Bin, held 13 U.S. stocks with a total market value of approximately $1.65 billion, a 45.6% rise from the end of the first quarter. Google Class C shares remained its largest holding, with Intel (15.7% of total holdings) and Nvidia (13.2%) ranking second and third respectively. On the position adjustment front, Dongfang Harbour established new positions in Intel, SanDisk, AMD, Marvell Technology, Arm, Broadcom, and Lumentum, while boosting its stake in Micron Technology to 147,600 shares, a sequential increase of around 102%. In the same period, it trimmed holdings in Google Class C, Nvidia, TSMC, Amazon, and Meta, and fully exited positions in Apple, Tesla, Circle, Google Class A, and two leveraged ETFs. The fund’s focus has clearly shifted to AI infrastructure sectors including semiconductors, storage, and optical communications. It is worth noting that 13F filings only reflect long U.S. stock positions at quarter-end and do not represent current real-time holdings.
1 minutes ago
As $BTC rose, gambler 0xff84's 1,793 $BTC($114.4M) short came very close to liquidation. The gambler closed part of t...
As $BTC rose, gambler 0xff84's 1,793 $BTC($114.4M) short came very close to liquidation. The gambler closed part of the position early and avoided liquidation. Current position: 1,543 $BTC($98.97M) New liq. price: $64,225.35
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A Bitcoin (BTC) whale holding $114.4 million in short positions has reduced some of its positions to avoid liquidation, with its current short position standing at approximately $98.97 million.
According to Lookonchain’s monitoring, as Bitcoin (BTC) rallied, trader 0xff84’s short position of 1,793 BTC (valued at roughly $114.4 million) nearly triggered liquidation. The trader closed part of the position in advance to avoid being liquidated. Currently, their short position stands at 1,543 BTC, worth approximately $98.97 million, with a new liquidation price of $64,225.35.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Fed's Collins: Will Support September Interest Rate Hike If Inflation Remains Elevated
According to a report by the Financial Times, Federal Reserve official Collins stated that escalating tensions related to Iran have exacerbated cost-of-living pressures, leaving low-income Americans struggling to make ends meet. She warned that the Federal Reserve may need to raise interest rates to curb inflation. Collins noted that businesses and households in the U.S. Northeast are being squeezed by inflation, which has exceeded the central bank’s 2% target for over five years. “I hear about price issues almost every time I talk to businesses,” she said. She added: “Among low- and middle-income households, I’m increasingly hearing about the challenges they face… such as struggling to make ends meet. Energy prices are truly unbearable, especially in our region.” Collins currently does not hold a voting seat on the Federal Open Market Committee (FOMC). She supported keeping interest rates steady in July, and views the current rate level as “slightly restrictive,” which “will lead to a gradual, sustained decline in inflation expectations.” However, she noted that if economic data indicates a need for a rate hike, she is willing to support raising rates as early as September. “I do believe economic conditions in the coming months may require tighter policy, and in that case, I am prepared to raise interest rates,” she said.
9 minutes ago
Metaplanet (@Metaplanet) transferred a total of 3,881 $BTC ($247.3M) over the past 3 hours. Metaplanet bought a total...
Metaplanet (@Metaplanet) transferred a total of 3,881 $BTC ($247.3M) over the past 3 hours. Metaplanet bought a total of 43,000 $BTC at an average price of $96,191 and is currently sitting on a loss of $1.4B(-34%).
9 minutes ago
Metaplanet transferred 3,881 BTC over the past three hours, with its current unrealized loss on holdings amounting to roughly $1.4 billion.
According to Lookonchain monitoring, Japanese listed firm Metaplanet Inc. has transferred a total of 3,881 Bitcoin over the past three hours, valued at roughly $247.3 million. Data shows that Metaplanet currently holds around 43,000 BTC in total, with an average purchase cost of $96,191 per Bitcoin. Calculated at current prices, its Bitcoin holdings carry an unrealized loss of approximately $1.4 billion, representing a 34% loss.
9 minutes ago
Layer 1 blockchain project Harmony responds to the abnormal ONE token over-issuance incident: It is working with trading platforms to freeze the relevant funds.
Harmony Protocol announced in a post that its team is collaborating with relevant exchanges to attempt to block and freeze funds involved in the incident, while developing a fix and evaluating rollback options. Earlier, on-chain data analysis indicated that Harmony had likely been hacked, with attackers exploiting an empty blocks vulnerability to mint approximately 4 billion ONE tokens without authorization—accounting for around 26% of the current total supply. Around 2.8 billion of these ONE tokens were subsequently transferred to exchanges, triggering market selling pressure and leading to a sharp drop in ONE’s price. According to analysis, the attackers exploited a flaw in the supply verification mechanism, causing the totalSupply interface to fail to reflect the actual number of newly minted tokens in a timely manner and masking the inflationary impact. Harmony stated that it will update the incident’s progress once more information becomes available. The incident remains under investigation at this time.
9 minutes ago
Yesterday, U.S. spot Bitcoin ETFs saw a net inflow of $7.8 million, while U.S. spot Ethereum ETFs recorded a net outflow of $1.7 million.
According to data from Farside Investors, Bitcoin spot ETFs posted a total net inflow of $7.8 million on August 11. BlackRock’s IBIT recorded a $50.2 million net inflow, while Fidelity’s FBTC saw an outflow of $4.1 million, ARKB an outflow of $11.5 million, EZBC an outflow of $16.5 million, and HODL an outflow of $10.3 million. The remaining ETFs had minor or zero capital flows. For Ethereum spot ETFs, total net outflows reached $1.7 million on August 11. BlackRock’s ETHA posted a $600,000 net inflow, while Franklin’s FETH saw a $2.3 million outflow, with all other Ethereum ETFs registering zero capital flows.
9 minutes ago
Binance adds GameStop bStocks tokenized securities to its margin collateral assets
According to official announcements, Binance will add GameStop bStocks (GMEB) as an eligible collateral asset for Cross Margin, Portfolio Margin, and Portfolio Margin Pro starting at 12:00 UTC on August 12. Qualified users can use this bStocks token as collateral for margin trading, and margin trading support will also be enabled for related GMEB trading pairs. However, lending functionality is not currently supported for this asset.
Major cryptocurrencies continue to face technical hurdles after recent corrections, with Hyperliquid (HYPE), Ethereum (ETH), Bitcoin (BTC), and Shiba Inu (SHIB) all trading within significant support and resistance zones.
HYPE struggles to regain momentumHyperliquid has experienced a notable pullback from its previous highs near $70–$76 and is currently trading at $54.54. The token remains capped by a cluster of moving averages in the $56.65 to $56.90 range, which has so far limited any sustained recovery attempts. Buyers briefly pushed the price toward this resistance area in early August but failed to establish a foothold above it.
Consolidation below $57 has become the prevailing pattern, with stronger resistance emerging at $61.09. Regaining that level could improve the short-term outlook and reopen the path toward the $65–$68 range, and potentially another retest of $70. On the downside, support anchored near $50.77—corresponding to a long-term moving average—has held firm, making the $50–$51 zone a pivotal technical threshold.
A breakdown below this area could expose the upper $40s and disrupt the broader recovery structure. According to current indicators, the RSI stands near 43.3, signaling weak momentum without a clear entry into oversold conditions. HYPE remains locked in a neutral-to-bearish consolidation. A move above $57 would mark an initial improvement, while a breakout above $61 is needed for a convincing reversal.
Ethereum consolidates below resistanceEthereum is still consolidating below $1,900 following a rebound from lows recorded in June. At the moment, ETH trades at approximately $1,880—just above its short-term moving average at $1,875, but under pressure from resistance at $1,922. The current setup reflects challenging conditions, as buyers have repeatedly stalled in the $1,900–$1,925 range since late July.
Despite forming a series of higher lows since June, the broader outlook has not convincingly shifted bullish. Key support levels are found at $1,875 and a more dynamic band near $1,808. ETH remains below its longer-term moving average, which is situated around $2,140, underlining the absence of a strong trend reversal. Momentum indicators provide little clarity, with the RSI near 53.5 and its signal line close to 51, highlighting a lack of obvious directional bias.
The most important short-term trigger is a daily close above $1,925, which could refocus attention toward $2,000 and $2,140. If ETH retreats below $1,875, risk of a return to the $1,800–$1,810 region increases.
Bitcoin holds narrow range as momentum fadesBitcoin continues to trade tightly around $63,900, with the $63,000–$67,000 band defining the current structure. The leading cryptocurrency is positioned between two key short-term moving averages, with the faster reading slightly higher at $64,154 and support at $63,325. Price compression has grown more evident in the wake of June’s rebound, leading to a persistent sideways market since early July.
Overhead resistance around $66,000–$67,000 and a sloping moving average near $66,742 continue to cap recovery prospects. Long-term averages, set around $72,100, remain out of reach. Bitcoin’s RSI has slipped to 48.4, just below the neutral threshold, underscoring the lack of momentum for either buyers or sellers.
A drop below $63,300 could put $60,000 in play and reactivate interest in the June lows near $58,000. Conversely, reclaiming $66,700 would mark a significant bullish development, potentially setting up a revisit of the $70,000–$72,100 region. For now, Bitcoin remains in a consolidative bearish pattern.
SHIB faces renewed downside riskShiba Inu has returned to a critical support area after failing to hold onto its volatility-driven rally from late July. Currently, SHIB trades at $0.00000450, aligning closely with its moving average of $0.00000445. The token has slipped below the faster average of $0.00000462, reflecting reduced upward momentum.
Efforts to push higher last month briefly drove SHIB toward $0.0000058, but resistance quickly forced a reversal. The $0.00000495 mark now stands as the key short-term barrier. While the RSI’s signal line hovers near 54.3, the indicator itself has declined to 45.1, signaling waning bullish force without crossing into oversold territory.
The $0.00000440–$0.00000445 support zone is now vital for SHIB. A clear breakdown could expose previous consolidation levels at $0.00000410–$0.00000420 and open the door to fresh local lows. For a bullish reversal, SHIB must first reclaim $0.00000462 and follow through above $0.00000495. However, a significant long-term resistance sits at $0.000585, leaving the overall trend cautious unless these hurdles are cleared.
As price action in these cryptocurrencies revolves around narrowing ranges and critical support levels, the rise of new trading infrastructure is reshaping the landscape. While traditional markets utilize multiple brokers, a growing shift is underway as Wall Street adopts Web3. Investors increasingly leverage platforms like 1stepSwap to directly hold tokenized shares of major U.S. companies, gold, and silver in their crypto wallets, streamlining exposure to real-world assets (RWAs) and automating the search for optimal prices without intermediaries.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
After a dramatic correction from the $70–$76 range, Hyperliquid is having trouble regaining its bullish momentum. As of right now, HYPE is trading at $54.54, trapped between significant resistance above and sustained support below. The cluster of moving averages around $56.65-$56.90 is the current issue.
Hyperliquid's recovery is shallowAfter declining in early August, HYPE momentarily recovered toward this area, but buyers were unable to establish a price above it. The recent increase appears more like consolidation than the start of another sustained rally as long as the token stays below $57. At about $61.09, stronger resistance is located.
HYPE/USDT Chart by TradingViewThe short-term structure would be greatly improved by regaining that level, and the $65–$68 range might be reopened. HYPE might attempt another move toward $70 after that. The long-term moving average at around $50.77 is the most significant support on the decline. $50–$51 is a crucial technical threshold because HYPE has stayed above it during the most recent correction.
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Losing it might expose the upper-$40 range and harm the recovery structure as a whole. The RSI is close to 43.3, indicating weak momentum without going into oversold territory. HYPE is still in a neutral-to-bearish consolidation for the time being. The first improvement would be a move above $57, and a stronger reversal signal would still require a move above $61.
Ethereum in a complicated positionWith price compression becoming more apparent following the rebound from June's lows, Ethereum is still consolidating just below $1,900. Right now, ETH is trading at about $1,880, just above its short-term moving average of about $1,875 but below resistance at about $1,922.
ETH/USDT Chart by TradingViewSince late July, buyers have consistently stalled in this $1,900–$1,925 range, making it the immediate breakout threshold. The technical configuration is mixed. Since declining toward $1,550 in June, Ethereum has maintained a series of higher lows, while the shorter moving averages have started to rise.
A stronger dynamic level near $1,808 follows the unaltered support around $1,875. At roughly $2,140, ETH is still well below the long-term moving average. This indicates that despite the improvement since June, the broader trend has not yet moved into a confirmed bullish structure.
Also, momentum has decreased. The RSI's signal line is close to 51, and it is currently at 53.5. This reading reflects the tight price consolidation and gives neither side a significant momentum advantage. The most significant short-term development would be a daily breakout above $1,925, which could refocus attention on $2,000.
The next big target after that is the $2,100–$2,140 range. On the other hand, the likelihood of a return toward $1,800–$1,810 would rise if $1,875 were lost. As a result, Ethereum is still in a recovery structure, but buyers must break the $1,900–$1,925 ceiling before a significant upside continuation is technically plausible.
Bitcoin remains in a narrow downtrendWith neither buyers nor sellers building up enough momentum to compel a decisive move, Bitcoin is still trapped in a narrow consolidation around $63,900. The $63,000–$67,000 range is increasingly central to the current structure. Bitcoin is trading almost exactly between its two shorter moving averages.
BTC/USDT Chart by TradingViewThe faster average is marginally higher at about $64,154, while the closest support is at about $63,325. The sideways price action that has predominated since the start of July is reflected in this compression. Overhead resistance is still the main issue.
The first significant barrier to any recovery is $66,000–$67,000, as Bitcoin is still trading below the falling moving average around $66,742. At about $72,100, the long-term average is still much higher. Momentum provides minimal directional assurance. The RSI has dropped to about 48.4, which is slightly below the neutral 50 threshold. This is in line with the price's apparent lack of follow-through.
The current structure would be weakened by a break below $63,300, bringing $60,000 back into focus, followed by the June low of about $58,000. On the other hand, recovering $66,700 would provide Bitcoin with its first significant technical advancement and might reopen a move toward $70,000–$72,100. As of right now, Bitcoin is still range-bound within a broader bearish structure.
Shiba Inu hits fresh supportAfter failing to maintain its late-July volatility spike, Shiba Inu is once again testing a crucial short-term support area. At the moment, SHIB is trading at about $0.00000450, almost exactly on the moving average at $0.00000445.
SHIB/USDT Chart by TradingViewAdditionally, the token has fallen below the faster average around $0.00000462, suggesting a decline in immediate momentum. SHIB briefly moved toward $0.0000058 due to the late-July spike, but the move was rejected almost instantly. The moving average near $0.00000495 became the main short-term resistance after the price was unable to recover. While the signal line average is still close to 54.3, the RSI has dropped to about 45.1.
Even though SHIB is still far from oversold territory, this divergence shows waning momentum after the unsuccessful breakout attempt. Now, the $0.00000440–$0.00000445 area is critical. A clean breakdown could reveal the July consolidation zone at $0.00000410–$0.00000420.
Another local low would be more likely if that area were lost. SHIB must first recover $0.00000462 and then break through $0.00000495 in order to initiate a bullish reversal. The long-term moving average at $0.000585 is still a significant barrier even after that. Despite its sporadic sharp volatility spikes, SHIB's overall trend remains bearish until those levels are reclaimed.
