Track market-moving stories before they get noisy

Palantir’s revenue rose 93% year-over-year, far exceeding expectations, as its "AI Sovereignty" strategy drives a re-rating of its valuation.

Palantir (PLTR)’s latest financial report shows that the company’s second-quarter revenue rose 93% year-over-year to $1.94 billion, net profit hit $1.06 billion, and it significantly raised its full-year performance guidance. Boosted by the results, the company’s stock price climbed more than 12% in after-hours trading on Monday. Palantir forecasts full-year 2026 revenue of at least $8.15 billion, up from its prior expectation of less than $7.7 billion. U.S. commercial business revenue is projected to reach $3.4 billion, growing at least 134% year-over-year, making it the key growth driver. Markets had previously worried that the rapid expansion of AI model firms like OpenAI and Anthropic could erode Palantir’s competitiveness, but this earnings report has reignited investors’ focus on its "AI Sovereignty" business model. Palantir CEO Alex Karp noted that enterprises and governments are seeking control over their own data, AI systems, and decision-making processes, a key source of the company’s growth. The so-called "AI Sovereignty" refers to enterprises preventing their core data from being used for training by external AI model providers, while ensuring AI systems align with their own business needs. Palantir argues that future enterprises need not just base models, but AI platforms that can manage data, integrate into business workflows, and protect competitive advantages. In recent years, Palantir has been expanding its enterprise AI business and criticized the business models of some AI labs, claiming that enterprises pay large fees to model suppliers yet may lose control over their core data. However, Palantir still faces pressure in overseas markets. Due to the company’s long-standing work with the U.S. government and defense sector, some European nations are reducing their reliance on U.S. tech firms. As of the latest quarter, international client revenue makes up about 19% of Palantir’s total revenue, down from 26% in 2025.

1 minutes ago

The Bank of Korea has resumed purchasing physical gold after a 13-year hiatus, aiming to diversify its foreign exchange reserves.

According to South Korea’s Seoul Economic Daily, the Bank of Korea (BOK) has restarted its physical gold purchase plan after 13 years, sourcing gold from South Korean gold producers’ planned exports via the Korea Exchange (KRX) gold market and Korea Securities Depository (KSD) infrastructure. The BOK announced on the 3rd that it has established a cooperation framework with KRX, KSD, and gold producer LS MnM to jointly advance domestic gold procurement. The transactions will be executed as block trades on the KRX gold market, with settlement and custody managed by KSD. The BOK said purchasing export-focused gold is primarily intended to mitigate impacts on domestic gold market prices and reduce interference with intraday market fluctuations through block trades. This marks the BOK’s first resumption of physical gold purchases since 2013. Between 2011 and 2013, the BOK accumulated 90 tons of gold, but suspended procurement after valuation losses stemming from subsequent gold price drops. As of the end of June this year, the BOK’s foreign exchange reserves totaled $427.36 billion, with gold reserves valued at roughly $4.79 billion, accounting for just 1.1%. Against the backdrop of major global central banks continuing to boost gold allocations, the BOK’s move is viewed as a step to diversify foreign exchange reserves and lower concentration in dollar assets. However, the BOK noted future purchase volumes will not be large. South Korea’s annual domestic gold output is around 40 to 45 tons, of which only 4 to 5 tons are exportable. The BOK emphasized that the resumption of gold purchases is not based on gold price trend judgments, but rather on corporate procurement requests, domestic and international gold prices, and market conditions to decide transaction timings.

1 minutes ago

HOME token surges over 30% in a short period, with its market cap climbing to $38.5 million.

Per HTX market data, possibly driven by news that Upbit will list HOME on its KRW and USDT trading pairs, HOME surged over 30% in a short time, currently trading at $0.00899, with its market capitalization rising to $38.5 million.

1 minutes ago

South Korea’s semiconductor cluster has received enhanced policy support, with the government covering up to 100% of its infrastructure construction costs.

，据韩媒报道，对于被指定为半导体产业集群的地区，韩国政府将使用国家财政资金，最高承担建设电力、水资源等基础设施所需的全部费用。该细则明确了《半导体特别法》授权制定的相关事项，具体包括：加强半导体产业竞争力特别委员会的组成与运营方式；半导体产业集群的指定程序及相关支持措施；半导体产业人才培养支持；加强半导体产业竞争力特别账户的管理与运营。根据规定，建设和运营半导体产业集群所需的工业基础设施，其相关费用可由中央政府和地方政府承担，承担比例最低为项目总成本的 50%，最高可达到 100%。此外，政府还可以优先支持非首都圈半导体企业的人才招聘匹配，以及地方专业人才培养和转岗培训等项目。

1 minutes ago

Moody's assigns SK Hynix a Class A rating for the first time, as the AI storage boom has boosted the company's performance.

Global credit rating agency Moody’s has for the first time upgraded SK Hynix’s credit rating to the A range, reflecting the chipmaker’s enhanced competitiveness in the AI storage market, as well as improvements in its profitability and cash generation capabilities. The day before, Moody’s raised SK Hynix’s long-term issuer rating and senior unsecured bond rating by one notch, from Baa1 to A3, with a stable rating outlook. This marks the first time SK Hynix has obtained an A-level rating from Moody’s since it was acquired by SK Group in 2012, and it is also the first of the three major international credit rating agencies to assign an A-level rating to SK Hynix. Currently, both S&P Global Ratings and Fitch Ratings assign SK Hynix a rating of BBB+, with S&P holding a positive outlook and Fitch a stable outlook. Moody’s forecasts that SK Hynix will maintain strong profitability and cash generation capabilities over the next 12 to 18 months, with its financial position set to improve further. Moody’s noted that the company has built up sufficient cash reserves, strengthening its ability to withstand downside risks from the semiconductor cycle.

1 minutes ago

Palantir’s revenue rose 93% year-over-year, far exceeding expectations, as its "AI Sovereignty" strategy drives a re-rating of its valuation.

Palantir (PLTR)’s latest financial report shows that the company’s second-quarter revenue rose 93% year-over-year to $1.94 billion, net profit hit $1.06 billion, and it significantly raised its full-year performance guidance. Boosted by the results, the company’s stock price climbed more than 12% in after-hours trading on Monday. Palantir forecasts full-year 2026 revenue of at least $8.15 billion, up from its prior expectation of less than $7.7 billion. U.S. commercial business revenue is projected to reach $3.4 billion, growing at least 134% year-over-year, making it the key growth driver. Markets had previously worried that the rapid expansion of AI model firms like OpenAI and Anthropic could erode Palantir’s competitiveness, but this earnings report has reignited investors’ focus on its "AI Sovereignty" business model. Palantir CEO Alex Karp noted that enterprises and governments are seeking control over their own data, AI systems, and decision-making processes, a key source of the company’s growth. The so-called "AI Sovereignty" refers to enterprises preventing their core data from being used for training by external AI model providers, while ensuring AI systems align with their own business needs. Palantir argues that future enterprises need not just base models, but AI platforms that can manage data, integrate into business workflows, and protect competitive advantages. In recent years, Palantir has been expanding its enterprise AI business and criticized the business models of some AI labs, claiming that enterprises pay large fees to model suppliers yet may lose control over their core data. However, Palantir still faces pressure in overseas markets. Due to the company’s long-standing work with the U.S. government and defense sector, some European nations are reducing their reliance on U.S. tech firms. As of the latest quarter, international client revenue makes up about 19% of Palantir’s total revenue, down from 26% in 2025.

1 minutes ago

The Bank of Korea has resumed purchasing physical gold after a 13-year hiatus, aiming to diversify its foreign exchange reserves.

According to South Korea’s Seoul Economic Daily, the Bank of Korea (BOK) has restarted its physical gold purchase plan after 13 years, sourcing gold from South Korean gold producers’ planned exports via the Korea Exchange (KRX) gold market and Korea Securities Depository (KSD) infrastructure. The BOK announced on the 3rd that it has established a cooperation framework with KRX, KSD, and gold producer LS MnM to jointly advance domestic gold procurement. The transactions will be executed as block trades on the KRX gold market, with settlement and custody managed by KSD. The BOK said purchasing export-focused gold is primarily intended to mitigate impacts on domestic gold market prices and reduce interference with intraday market fluctuations through block trades. This marks the BOK’s first resumption of physical gold purchases since 2013. Between 2011 and 2013, the BOK accumulated 90 tons of gold, but suspended procurement after valuation losses stemming from subsequent gold price drops. As of the end of June this year, the BOK’s foreign exchange reserves totaled $427.36 billion, with gold reserves valued at roughly $4.79 billion, accounting for just 1.1%. Against the backdrop of major global central banks continuing to boost gold allocations, the BOK’s move is viewed as a step to diversify foreign exchange reserves and lower concentration in dollar assets. However, the BOK noted future purchase volumes will not be large. South Korea’s annual domestic gold output is around 40 to 45 tons, of which only 4 to 5 tons are exportable. The BOK emphasized that the resumption of gold purchases is not based on gold price trend judgments, but rather on corporate procurement requests, domestic and international gold prices, and market conditions to decide transaction timings.

1 minutes ago

HOME token surges over 30% in a short period, with its market cap climbing to $38.5 million.

Per HTX market data, possibly driven by news that Upbit will list HOME on its KRW and USDT trading pairs, HOME surged over 30% in a short time, currently trading at $0.00899, with its market capitalization rising to $38.5 million.

1 minutes ago

South Korea’s semiconductor cluster has received enhanced policy support, with the government covering up to 100% of its infrastructure construction costs.

，据韩媒报道，对于被指定为半导体产业集群的地区，韩国政府将使用国家财政资金，最高承担建设电力、水资源等基础设施所需的全部费用。该细则明确了《半导体特别法》授权制定的相关事项，具体包括：加强半导体产业竞争力特别委员会的组成与运营方式；半导体产业集群的指定程序及相关支持措施；半导体产业人才培养支持；加强半导体产业竞争力特别账户的管理与运营。根据规定，建设和运营半导体产业集群所需的工业基础设施，其相关费用可由中央政府和地方政府承担，承担比例最低为项目总成本的 50%，最高可达到 100%。此外，政府还可以优先支持非首都圈半导体企业的人才招聘匹配，以及地方专业人才培养和转岗培训等项目。

1 minutes ago

Moody's assigns SK Hynix a Class A rating for the first time, as the AI storage boom has boosted the company's performance.

Global credit rating agency Moody’s has for the first time upgraded SK Hynix’s credit rating to the A range, reflecting the chipmaker’s enhanced competitiveness in the AI storage market, as well as improvements in its profitability and cash generation capabilities. The day before, Moody’s raised SK Hynix’s long-term issuer rating and senior unsecured bond rating by one notch, from Baa1 to A3, with a stable rating outlook. This marks the first time SK Hynix has obtained an A-level rating from Moody’s since it was acquired by SK Group in 2012, and it is also the first of the three major international credit rating agencies to assign an A-level rating to SK Hynix. Currently, both S&P Global Ratings and Fitch Ratings assign SK Hynix a rating of BBB+, with S&P holding a positive outlook and Fitch a stable outlook. Moody’s forecasts that SK Hynix will maintain strong profitability and cash generation capabilities over the next 12 to 18 months, with its financial position set to improve further. Moody’s noted that the company has built up sufficient cash reserves, strengthening its ability to withstand downside risks from the semiconductor cycle.

1 minutes ago

Hyperliquid’s Open Interest climbed to a record $5.25 billion, overtaking Bybit’s $5.07 billion. The milestone extends earlier gains over HTX, Bitfinex, Kraken, and Coinbase. Those rankings reflect sustained growth across the perpetual Futures market.

Trading activity also remained elevated throughout the latest reporting period. Hyperliquid [HYPE] processed $3.48 billion in perpetual volume over the past 24 hours. Monthly perpetual volume also reached $196 billion, reinforcing steady trader participation.

According to DeFiLlama data, over the last 24 hours, Hyperliquid traded approximately $13 billion in perpetual trading volume. Additionally, monthly perpetual trading volume stood at $196 billion, continuing to demonstrate increased participation among traders.

Source: Onchain Lens Those figures suggest traders continue opening and holding positions rather than exiting quickly. That pattern supports the continued rise in outstanding contracts across the platform.

Nevertheless, it should be noted that record Open Interest alone cannot distinguish fresh participation from heavier leverage. Instead, strong volume along with rising Open Interest shows that conviction remains healthy even as leverage is growing.

Maintaining deep liquidity, orderly liquidations, and consistent participation will determine if Hyperliquid can retain leadership in derivatives against competitors.

Protocol revenue continues expanding Hyperliquid continues leveraging its strong derivatives activity and converting higher trading demand into real value capture. Over the last 24 hours, Hyperliquid burned approximately $643,140 worth of HYPE tokens, reflecting fees generated as usage on the platform continues.

That activity also transferred $513,800 of protocol revenue to both the Assistance Fund and token holders and links the growth of the network directly to incentives within the ecosystem.

Source: X Meanwhile, cumulative burns reached 46.18 million HYPE, worth roughly $2.43 billion, or 4.62% of the token’s maximum supply. Rather than relying solely on a deflationary mechanism, Hyperliquid continues pairing token burns with recurring protocol revenue.

Previously, AMBCrypto reported that Hyperliquid revenue generation has strengthened as usage of the protocol has grown along with this trend.

Recently, priority fees have emerged as another meaningful contributor and have generated $5.07 million since April, with $2.75 million in the last month alone.

Those proceeds complement trading fees by adding another recurring revenue stream. Meanwhile, buybacks through the Assistance Fund and priority-fee burns continue to reinforce value capture, provided elevated trading volume and Open Interest remain sustained.

All in all, if trading activity stays high, that combination could enhance long-term value capture by reducing supply at the same time, rewarding participants through sustained cash flows generated by the network.

Final Summary

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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Perpetual futures tied to stocks, indexes and commodities out-traded crypto pairs on the largest perps DEX for the first time, less than a year after builder-deployed markets went live.

Real-world asset markets accounted for more than half of Hyperliquid's trading volume for two consecutive weeks in July, the first time perps tied to stocks, commodities and indexes out-traded crypto on the platform.

RWA perps did $25.1 billion in the week of July 13–19, or 52% of Hyperliquid's $48.2 billion total, according to Blockworks data. The share held above 50% the following week.

"We are entering a new era for DeFi," Lorenzo Valente, director of digital asset research at ARK Invest, said in a July 23 post on X.. "For the first time ever, @HyperliquidX generated more volume from RWAs than crypto in a single week."

Single stocks made up 61% of RWA volume, overtaking indexes and commodities, he said, adding that Hyperliquid's RWA market alone was larger than the combined crypto perp volume of every other DEX.

Circle CEO Jeremy Allaire called it a "major structural shift" in crypto markets, moving "away from speculating on endogenous digital commodities."

Nine months after Hyperliquid opened permissionless market deployment, its growth comes from traditional assets rather than crypto pairs — and that growth is masking a shrinking crypto perps business.

From 2% to HalfThe RWA markets run on HIP-3, Hyperliquid's framework for builder-deployed perps that went live in October 2025 and requires deployers to stake 500,000 HYPE. HIP-3's share of Hyperliquid perp volume climbed from roughly 2% at the start of the year to around 50% by mid-July.

Dominant deployer trade.xyz, with more than 90% of HIP-3 volume, lists single stocks like Nvidia and Tesla, the XYZ100 Nasdaq tracker, and commodities including gold; Ventuals runs pre-IPO perps on OpenAI and SpaceX.

The category is propping up the topline. Hyperliquid's quarterly volume has fallen by roughly half from its ~$1 trillion Q3 2025 peak to about $550 billion in Q2 2026, per Token Terminal data, with RWA growth offsetting the decline in crypto pairs.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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

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According to Hyperinsight monitoring, the whale address starting with 0xc278 has completed 61 BRENTOIL trades since trading Brent crude on March 19, of which 59 were long positions and only 2 were short positions, with a long position ratio of 96.7%. The total net loss from all 61 trades is approximately $2.431 million, with positions worth over $1 million accounting for 99.4% of the total loss. Yesterday morning, its Brent long positions triggered a system liquidation again. The entire liquidation closed out 47,600 BRENTOIL long positions, with a liquidation turnover of about $4.046 million, a weighted liquidation price of approximately $84.99, and a total loss of around $275,000. After the liquidation, the address no longer holds any Brent positions. Before the liquidation, BRENTOIL on Hyperliquid dropped from a high of $91.68 to a low of $82.81 on Sunday, with a maximum decline of 9.7%; its final backup liquidation price was about 7.6% lower than the high. This round of decline mainly occurred after Trump said he would suspend a new round of strikes on Iran and that a Middle East ceasefire agreement was near. The whale had three long positions in early April that lost about $882,000, $513,000, and $460,000 respectively, but afterward it still almost only went long on crude oil, repeatedly recording the largest single liquidation on the network.

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Fed's Williams: If inflation does not return to the 2% target as expected, the Federal Reserve will take action.

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OKX Ventures released a statement stating that it has never invested in the Dow Protocol project.

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US crypto-related stocks were broadly lower in pre-market trading, with Coinbase down 1.25% and Circle down 5.45%.

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Bithumb will suspend EGLD deposits and withdrawals to support the MultiversX network upgrade.

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James Wynn Holds Losing S&P 500 Short as Liquidations Reach 22

Hyperliquid just made it significantly harder for centralized exchanges to claim they offer superior order tooling. The Layer 1 blockchain built for decentralized trading rolled out a sweeping upgrade to its Time-Weighted Average Price (TWAP) order system, adding trigger prices, min/max price boundaries, durations up to seven days, and dynamic suborder intervals.

What changed, and why traders should care Previously, Hyperliquid’s TWAP implementation was functional but rigid. Traders were stuck with fixed 30-second suborder intervals, a maximum slippage cap of 3% per suborder, and relatively high minimum order sizes.

Trigger prices now allow TWAP orders to activate only when the mark price reaches a specified level. You can set a TWAP to start executing only if Bitcoin hits $65K, rather than having it fire immediately upon submission.

Max and min price boundaries add another layer of protection. If you’re running a buy order and the price spikes above your maximum threshold, the order terminates automatically. Same logic applies in reverse for sells.

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Duration has been extended to seven days. This went into effect on August 1, 2026, at 09:00 UTC.

Dynamic suborder intervals allow the system to calculate intervals based on the total order size and duration. The minimum interval remains 30 seconds for new orders, but the spacing can stretch longer depending on how the order is configured.

Minimum order size dropped to $100 notional, with individual suborders requiring just $10 notional.

The institutional angle Hyperliquid now supports over 300 perpetual and spot markets with sub-second finality, alongside advanced order types including both TWAP and Chase orders. The fully onchain nature of these orders means the execution logic lives on the blockchain itself, replacing trust with transparency rather than relying on a centralized exchange’s matching engine.

What this means for the competitive landscape The trigger price feature is a good example of Hyperliquid moving beyond standard CEX functionality. Many centralized exchanges offer basic TWAP functionality, but conditional activation based on mark price is less common. Pairing that with onchain transparency and self-custody creates a value proposition that’s genuinely difficult for centralized platforms to replicate.

The $100 minimum order size lowers the barrier to entry for TWAP orders beyond institutional participants. A retail trader running a seven-day TWAP on a $500 position, multiplied across thousands of users, produces a meaningful liquidity impact.

The risk, as always with onchain systems, is smart contract vulnerability. More complex order logic means more potential attack surface. That said, Hyperliquid’s track record of operating at scale with sub-second finality across hundreds of markets provides some reassurance that the infrastructure is battle-tested.

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

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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

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Crypto’s leading protocols are increasingly competing on business models rather than products. Pump.fun recently generated higher daily revenue than Hyperliquid. The comparison highlights the divide between retail adoption and trading infrastructure. Recent events show derivatives platforms face operational risks beyond trading volumes. His criticism of Hyperliquid was sparked by one day’s revenue figures, but the discussion extends well beyond protocol fees. It reflects a broader shift across the industry as developers compete for two different forms of demand: consumer attention and professional trading activity.

Revenue Alone Doesn’t Decide the Better Business Sapijiju compared recent protocol revenues, saying Pump.fun generated roughly $2.9 million over 24 hours versus approximately $1 million for Hyperliquid.

He summarized the comparison with a widely shared analogy:

“What’s bigger, Bloomberg or Instagram?”

The point was not simply that Pump.fun earned more revenue on a particular day. Instead, Sapijiju argued that consumer-oriented platforms capable of attracting millions of retail users have a larger addressable market than trading infrastructure built primarily for professional participants.

Perps is such a great on-chain business! No, it's not.

Hyperliquid 24h revenue: $1M
Total revenue of all memecoin products: ~$2.9M
What's bigger, Bloomberg or Instagram?

The product with millions of users always beats the one with a few high-paying ones.

— Sapijiju (@sapijiju) July 31, 2026

Daily revenue, however, captures only one aspect of protocol performance. The sustainability of those revenues depends on how each platform acquires, retains and monetizes users across multiple market cycles.

Two Protocols, Two Very Different Businesses Although both projects rank among crypto’s highest revenue-generating applications, they solve different problems.

Pump.fun Hyperliquid Consumer-focused token launch platform Decentralized perpetual futures exchange Revenue driven by token launches and retail trading Revenue driven by derivatives activity Growth depends on viral adoption and network effects Growth depends on liquidity and active traders Benefits most during speculative retail cycles Benefits from sustained trading participation Consumer Scale Versus Financial Infrastructure Pump.fun’s model is built around accessibility. Users can create, launch and trade tokens with relatively little friction, allowing the platform to benefit from social engagement, creator incentives and speculative retail activity.

Hyperliquid operates at the opposite end of the spectrum. Its business depends on perpetual futures markets, where liquidity, leverage and execution quality determine user activity.

That specialization also introduces operational complexity that consumer applications rarely encounter.

Last week, TradeXYZ, the largest deployer of HIP-3 perpetual markets on Hyperliquid, announced it would reimburse traders after an anomalous third-party price feed from South Korea triggered widespread liquidations in its SK Hynix perpetual market.

The disruption originated from an unusual print during the opening seconds of the country’s pre-market session rather than from blockchain infrastructure itself. While TradeXYZ maintained that its oracle functioned according to its published specifications, the incident highlighted the additional challenges derivatives platforms face when integrating traditional financial assets into onchain markets.

The episode does not necessarily support Sapijiju’s claim that perpetual futures represent an inferior business model. It does, however, illustrate that exchanges operating sophisticated trading infrastructure must manage risks extending well beyond user acquisition, including oracle design, market structure and real-world data integrity.

Revenue Leadership Continues to Shift Protocol rankings have repeatedly changed as market conditions evolved.

Pump.fun has periodically overtaken Hyperliquid during waves of elevated memecoin activity, while Hyperliquid has regained leadership when derivatives volumes strengthened. Those swings reflect changing sources of demand rather than a permanent advantage for either business.

Viewed over longer periods, the comparison suggests consumer applications and trading infrastructure respond differently to the same market cycle instead of competing on identical economics.

The Bigger Question Is Long-Term Retention The discussion ultimately extends beyond protocol revenue.

Pump.fun’s thesis assumes the industry’s largest businesses will emerge from applications capable of attracting mainstream consumer participation. Hyperliquid represents a different view—that recurring activity from a smaller base of highly engaged traders can produce a more durable business over time.

Recent developments also highlight that rapid revenue growth does not eliminate operational challenges.

Pump.fun recently laid off more than 40 employees only weeks before an estimated $86 million PUMP token unlock. Co-founder Noah Tweedale said the company had “grown too quickly,” even as the protocol continued generating roughly $1 million in daily revenue. At least one former employee reportedly lost a seven-figure PUMP token allocation as part of the restructuring.

Sandmark: Pump fun Reportedly Laid Off Staff Ahead of PUMP Token Vesting

According to a report by Sandmark, Pump fun laid off employees in early April, two months before their PUMP token vesting date. At least one former employee forfeited a token allocation worth more than $1… pic.twitter.com/rZi3OaoJPm

— Wu Blockchain (@WuBlockchain) July 31, 2026

The episode underscores that protocol revenue alone is an incomplete measure of business quality. Consumer applications may scale rapidly and generate significant cash flow, but they must also demonstrate they can manage organizational growth, retain talent and sustain engagement beyond speculative market cycles. Likewise, derivatives platforms face a different set of challenges, including liquidity management, market structure and operational risk.

As crypto matures, metrics such as active users, retention, trading activity and sustained protocol revenue are likely to provide a more meaningful measure of business quality than individual daily fee comparisons. The debate between Pump.fun and Hyperliquid therefore reflects a broader question facing the industry: whether crypto’s next phase of growth will be driven by consumer platforms reaching larger audiences or by increasingly sophisticated financial infrastructure serving professional markets.

Glassnode: Bitcoin futures basis shows signs of a cyclical bottom, remaining persistently below 2-year U.S. Treasuries.

Crypto analytics firm Glassnode said that since February this year, the basis yield of 3-month Bitcoin futures has remained lower than the yield of 2-year U.S. Treasuries. Historically, there has only been one other period of comparable length: from August 2022 to January 2023, a timeframe that ultimately marked the bottom of the cycle.

23 minutes ago

Bloomberg analysts question Coldcard’s small team of just 5 people, citing a lack of security investment and operational capabilities.

Bloomberg senior ETF analyst Eric Balchunas commented on the Coldcard wallet security incident, noting, “I just learned that Coldcard’s team has only 5 employees. That number is far too low for such a critical company. Would you entrust a bank with just 5 people to safeguard your life savings? This might be seen as a ‘feature’ in the crypto space, but it’s a clear red flag to me.” Balchunas further stated that by comparison, institutions with larger teams like Coinbase and Ledger may hold advantages in security investment and operational capabilities, even if users face higher transaction costs. Bitcoin ETFs offer an alternative: investors can access the security of large, professional, regulated financial institutions while benefiting from lower management fees. Earlier reports indicated that Bitcoin hardware wallet Coldcard was hacked, with stolen funds now totaling 1,367.05 BTC, valued at approximately $88.6 million, involving 4,585 addresses. Galaxy Research head Alex Thorn said the attack is still ongoing, advising users who have not yet moved their funds to immediately transfer assets out of addresses generated by Coldcard.

23 minutes ago

Nomura significantly raises Samsung Electronics' profit forecast, with its operating profit projected to exceed 770 trillion won by 2028, while free cash flow and shareholder returns are set to surge in tandem.

Citrini analyst Jukan cited Nomura Securities’ latest report, noting that Samsung Electronics’ operating profit forecast has been sharply revised upward. Nomura projects Samsung’s operating profit will rise from the current approximately 391 trillion won (around $271 billion) to 635 trillion won (about $440.1 billion), then climb further to 774 trillion won (roughly $536.4 billion). Its free cash flow will correspondingly increase from 296 trillion won to 456 trillion won, and then to 563 trillion won; shareholder return yield will jump from 11.2% to 17.6% before hitting a final 22.3%. Operating profits and margins for DRAM and NAND are expected to continue surging over the coming years. This upward revision aligns with earlier research from Bank of America Merrill Lynch (BofA ML). Samsung Electronics has tied 60% to 70% of its memory sales to long-term supply agreements, whose terms “limit price declines but allow unlimited upside”, effectively locking in demand from key clients while retaining flexibility for price hikes. Against the backdrop of sustained surges in AI capital expenditure and constrained memory capacity expansion, the strong pricing momentum of DRAM and NAND is directly translating into Samsung’s profit flexibility and cash flow returns, with Nomura’s forecast underpinning this logic.

23 minutes ago

Hugging Face CEO Discusses AI Safety: Accelerating Progress! Has completed defense attempts using open-source models, and the broader long-term vision must not be overlooked alongside risks.

According to monitoring by Beating, Hugging Face CEO Clem stated: "Now is not the time to slow down—we need to accelerate forward!" Recent AI-powered cyberattacks have sparked widespread debate about AI risks. We should absolutely discuss these risks, but we cannot lose sight of the bigger picture. With concerted effort, AI will make the world safer, just like most major technologies. We have already seen a glimmer of progress: AI—more specifically, an open-source model—has been successfully used to defend against attacks. The same systems that help block AI-driven cyberattacks now fend off millions of cyberattacks daily, while also enabling us to identify and fix vulnerabilities before attackers can exploit them. To achieve this, three key steps are needed: boost transparency, mandate the sharing of proxy cyberattack tracking data and incident disclosures; continue to criminalize AI-powered cyberattacks with meaningful penalties to serve as a deterrent; and equip cybersecurity defenders with the best AI tools, especially open-source models, to narrow the capability gap between attackers and defenders. If these three measures are implemented effectively, AI will not only bring new cybersecurity challenges—it will fundamentally and meaningfully strengthen cybersecurity. Against this backdrop, the recent OpenAI model intrusion incident at Hugging Face has escalated, prompting U.S. lawmakers to introduce the bipartisan "AI Emergency Shutdown Act". The bill requires developers of advanced frontier AI systems to retain technical capabilities to throttle, pause, or fully shut down their systems; and authorizes the U.S. Secretary of Homeland Security (DHS), in consultation with the Secretary of Commerce and the Director of National Intelligence, to order interventions if a model goes out of control or poses catastrophic risks.

23 minutes ago

A crypto whale has resumed building its ETH position after a two-year hiatus, moving the tokens off a centralized exchange (CEX) at a price of $1,856.

According to on-chain analyst Ai Yi (X handle @ai_9684xtpa), whale address 0x751…8a90A previously opened an ETH position at $2,459 in 2024, exited at $3,159, booking a $700,000 swing profit on ETH. Half an hour ago, the whale opened a new position for the first time in two years, withdrawing 3,500 ETH from Binance at a unit price of $1,856, totaling $6.495 million.

23 minutes ago

Berkshire’s stock hits a new 8-month high, with its top three largest holdings—Apple, Coca-Cola, and Bank of America—posting notable gains this year.

According to BIT (bit.com) market data, Berkshire Hathaway’s Class A and Class B shares rose this week to hit an eight-month high. Analysts note that while Berkshire’s stock has significantly underperformed the S&P 500 index so far this year, the current rally has sustained momentum. The three top holdings in its portfolio—Apple, Coca-Cola, and Bank of America—have posted notable year-to-date gains, supporting its share price. Specifically, Berkshire’s stake in its largest holding, Apple, is now worth over $70 billion, with a year-to-date gain of more than 13%; its third-largest holding, Coca-Cola, has a stake value of $35 billion, with its share price up 25% year-to-date; its fourth-largest holding, Bank of America, has risen more than 12% year-to-date. UBS analysts raised their price target for Berkshire’s stock, maintained a "buy" rating, and also lifted the company’s earnings forecast. Market speculation suggests Berkshire could repurchase up to $11 billion worth of shares in the second quarter, with exact figures to be disclosed in the firm’s Q2 earnings report on August 8. Berkshire Hathaway’s current top 10 holdings (based on the latest public 13F filing for Q1 2026, as of March 31, 2026): Apple (AAPL): ~22.0% of the portfolio; American Express (AXP): ~17.4%; Coca-Cola (KO): ~11.6%; Bank of America (BAC): ~9.5%; Chevron (CVX): ~6.6%; Occidental Petroleum (OXY): ~6.5%; Alphabet (Google parent, combined GOOGL/GOOG): ~6.3%; Chubb (CB): ~4.2%; Moody’s (MCO): ~4.1%; Kraft Heinz (KHC): ~2.8%

23 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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TLDR: South Korea posted a 560.3 billion won net stablecoin outflow in June, extending the trend to 18 months. Cumulative net stablecoin transfers since January 2025 reached about 14.9 trillion won, according to data. June outflows equaled 77.6% of Korean retail investors’ net purchases of foreign shares during the month. Offshore platforms attract Korean traders with derivatives, DeFi, staking, and tokenized asset products. South Korea recorded an 18th straight month of net stablecoin transfers to overseas exchanges in June, underscoring sustained demand for offshore crypto products. The five largest won-based exchanges sent 2.7625 trillion won abroad and received 2.2022 trillion won, producing a 560.3 billion won net outflow.

Although June’s total remained below several 2025 peaks, the uninterrupted direction of transfers carried greater significance than the monthly size alone. Reported figures showed monthly net outflows ranging from 459.3 billion won in July 2025 to 1.2049 trillion won in February 2025.

South Korean Stablecoins Post 18 Straight Months of Net Outflows to Overseas Exchanges

According to Yonhap News Agency, South Korea’s five major won-based crypto exchanges sent 2.7625 trillion won in stablecoins to overseas platforms in June 2026, while receiving 2.2022 trillion… pic.twitter.com/sDFsaBmDKN

— Wu Blockchain (@WuBlockchain) August 2, 2026

Across the full period beginning in January 2025, cumulative net transfers reached about 14.9 trillion won, based on the disclosed monthly totals.

Stablecoin Transfers Rival South Korea’s Overseas Stock Flows The June outflow equaled 77.6% of the 722 billion won Korean retail investors spent buying foreign shares on a net basis. During the second quarter, the contrast widened as stablecoins recorded 1.6872 trillion won in net outbound transfers.

Over the same period, Korean investors became net sellers of overseas equities, reducing their foreign stock holdings by 1.6185 trillion won. The comparison places dollar-linked tokens alongside traditional overseas investing as an important channel for moving capital beyond domestic platforms.

However, the figures measure exchange transfers rather than permanent capital flight, since tokens can later return, remain in wallets, or enter decentralized applications. Notably, access remains the central driver behind the movement, as local exchanges continue concentrating mainly on spot trading.

By contrast, offshore platforms provide perpetual futures, staking, decentralized finance, tokenized real-world assets, and leveraged products linked to Korean companies. Those products have included exposure tied to Samsung Electronics, SK Hynix, and Hyundai Motor, expanding the range of markets available abroad.

A separate study found about 47 trillion won in crypto moved abroad or into personal wallets during the first half of 2026. Tiger Research and Chainalysis also reviewed 4.5 million wallets and estimated cumulative transfers of 687.6 trillion won since 2021.

The same research estimated that overseas trading activity generated approximately 1.4 trillion won in fees.

Offshore Leverage Raises Regulatory and Investor Risks Among the main destinations, Hyperliquid offered Korean-linked perpetual contracts with leverage of up to 50 times. Moreover, SK Hynix-linked trading reportedly reached about $4 billion after the contract launched in February.

That activity shows stablecoins operating as collateral and settlement assets within global on-chain markets, rather than only as digital savings instruments. The expansion also increases exposure to liquidation losses, security breaches, and platform failures outside South Korea’s domestic regulatory system.

As a result, Bank of Korea officials have warned that wider token use could complicate capital-flow management and foreign-exchange oversight. Governor Rhee Chang-yong previously said won-backed tokens might make conversion into dollar-linked assets easier instead of reducing demand for dollars.

Meanwhile, the Financial Services Commission said in January that central provisions of second-stage digital-asset legislation remained unfinished.Those unresolved issues included the ownership structure permitted for stablecoin issuers operating under the planned framework.

Lawmaker Lee Jong-wook urged regulators to review oversight and investor safeguards as offshore transfers continue. For now, the 18-month pattern shows that investors are consistently using dollar-linked tokens to reach products unavailable on domestic exchanges.

Eole Inc., listed on the Tokyo Stock Exchange Growth Market under ticker 2334, has become the first Japanese public company to formally hold HYPE, the native token of the Hyperliquid DeFi protocol, disclosing the purchase through Japan’s TDnet (Tokyo Stock Exchange’s official corporate disclosure system) on July 28, 2026.

The initial buy of 1,078.25469311 HYPE at an average price of ¥9,352.77 per token cost ¥10,084,663 (~$66,000), with a stated target to scale the position to ¥100 million (~$611,000) by August 31, 2026.

🚨JAPAN LISTED FIRM BUYS $HYPE!

Tokyo-listed Eole has acquired Hyperliquid’s $HYPE token, the first Japanese publicly listed company to do so.

Bought ~¥10 million (~$61k / 1,078 HYPE) on July 28. Plans to scale total purchases to ¥100 million (~$610k) by end of August.

Part of… pic.twitter.com/Uwh0PR9rSM

— Crypto Banter (@crypto_banter) July 30, 2026

The move is not a one-off treasury bet. It was filed under Eole’s previously announced change in use of funds from July 16, 2026, which expanded the company’s digital asset mandate from Bitcoin only to a broader set of assets. HYPE is the first execution under that expanded mandate.

This news dropped as HYPE sits just under $55, up +3.5% over the past 24 hours following a seven-day move that has seen the asset drop -5%. Daily trading volume sits at $404M, up from $380M yesterday.

Hyperliquid News: What Eole Is Actually Buying Into $HYPE

HTF

Looks done for a while- would let price settle below sub 50 at the daily fvg before I look for longs. Best swing shorts at current monthly NPOC into 44$

Reversal and continuation setups attached pic.twitter.com/q2WjPnrDe1

— RektProof. (@RektProof) July 30, 2026

Hyperliquid is a leading decentralized futures trading platform and also runs HyperEVM, an Ethereum-compatible environment that allows programmable smart contracts to execute on top of the same high-speed infrastructure.

Eole’s Executive Director Kensuke Amo outlined three reasons the company chose HYPE specifically. First, Hyperliquid’s architecture is positioned as core infrastructure for what Amo calls Agentic Commerce, the emerging model where AI agents autonomously handle payments and contracts without human sign-off at each step.

Unlike people, AI agents cannot hold traditional bank accounts, so they require fast, programmable on-chain rails to operate. Second, strict US regulations around DeFi access have created demand for regulated, publicly listed HYPE exposure vehicles.

This is a model already running in the US via companies such as Hyperliquid Strategies and PURR, and Eole sees itself as the Japanese equivalent.

Third, the company plans to explore staking HYPE for yield once Hyperliquid’s AQAv2 USDC yield mechanism activates for stakers in August 2026, turning a passive treasury position into a revenue-generating one.

Check Out Hyperliquid Markets on Kalshi and Claim Your FREE $25

The Neo Crypto Bank Strategy and Why the Accounting Matters Everyone counted the funding rounds and nobody counted the funerals.

So I did both. 368 neobanks tracked. https://t.co/4bKokwoT9j

— Francesco Andreoli ᵍᵐ (@francescoswiss) July 27, 2026

Eole launched its Neo Crypto Bank initiative in October 2025 with Bitcoin as the initial treasury asset. The concept frames the company not as a passive crypto holder but as a builder of on-chain financial infrastructure, integrating digital assets into its own products and services rather than parking them as speculative reserves.

HYPE will be valued at fair value each quarter, with gains and losses flowing directly into the income statement. That accounting treatment – the same framework Eole applies to its Bitcoin position, and broadly similar to how MicroStrategy handles large BTC holdings in its public reporting.

This means the asset sits on the balance sheet with full shareholder and regulatory visibility. A Japanese listed company formally accounting for a DeFi protocol token at fair value in quarterly filings is still unusual by global corporate standards.

Eole also said it may hedge price exposure through traditional financial market instruments and eventually integrate HYPE into its own product suite, according to the TDnet disclosure and Amo’s public commentary.

Japan’s corporate crypto market has been expanding beyond Bitcoin, with Japanese companies broadening altcoin treasury allocations in recent quarters. Eole’s move adds a DeFi-native token to that picture for the first time.

The contrast with peer company Quantum Solutions, which sold 1,000 ETH on July 30 for approximately $1.9M to fund AI infrastructure spending, according to Quantum’s own filing, illustrates how differently Japanese corporates are positioning their digital asset strategies heading into late 2026.

Whether other Japanese listed companies use Eole’s TDnet disclosure as a precedent for their own HYPE allocations will be the institutional adoption signal worth watching over the coming months.

EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market

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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.

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Decentralized trading protocol TradeXYZ has begun repayments to victims of the $60M liquidation event tied to AI chipmaker SK Hynix (SKHYNIX) perpetual contracts. 

The flash crash, which happened on Monday, the 27th of July, 2026 (around 23:01 UTC), was triggered by an oracle pricing mishap and partly by ongoing volatility in the South Korean market. The actual losses were estimated at $17.4M in realized losses affecting over 900 user accounts.  

On Wednesday, the 29th of July, the Hyperliquid HIP-3 deployer announced a reimbursement program to rebuild trust and market integrity. Additionally, it vowed to improve its pricing systems to “handle tail events.”

How will TradeXYZ repay SKHYNIX victims? As part of the payout program, TradeXYZ said it had paid out victims with claims of less than $10K based on $1,115 per SKHYNIX. But wallets claiming larger amounts will require more review for final payout by the 15th of August.

Where it exceeds 10,000 USDC, an initial 9,999 USDC has been credited. We are required to conduct enhanced due diligence for amounts in excess of 10,000 USDC.

Source: SKHYNIX/USD, TradingView  As of writing, SKHYNIX traded at $1,087 after briefly slipping to $900 earlier in the week. The repayment could help reinforce trust in TradeXYZ and the broader Hyperliquid ecosystem. 

However, the TradeXYZ dominance risk discussion will likely resurface again.

TradeXYZ controls 99% of HIP-3 volumes HIP-3 or perpetuals tied to commodities and stocks (RWA/tokenized assets perps) have been the key driver of Hyperliquid volumes in 2026. This week, tokenized stocks account for 65% of the overall DEX volume. 

Surprisingly, crypto perps, which Hyperliquid began with, now account for less than 1% of overall HIP-3 volume. 

Source: ASXN However, the massive demand for HIP-3 is dominated by a single deployer, TradeXYZ. It controls over 95% of Hyperliquid’s HIP-3 volume and Open Interest (OI). 

According to analysts, the current Hyperliquid design favors big HIP-3 deployers like TradeXYZ, as smaller players like Felix were forced to close shop. According to critics, TradeXYZ’s excessive dominance poses a ‘structural risk’ to the broader ecosystem in case it’s exploited or sanctioned. 

Source: ASXN For a better ecosystem balance, they called for a level-playing field to ensure HIP-3 is more decentralized to reduce the potential risk of TradeXYZ dominance.  

Whether the Hyperliquid project team will accept the feedback remains to be seen. That said, the project’s HIP-4 (prediction markets and Options trading) went live on mainnet on Friday.

Final Summary TradeXYZ has begun reimbursing affected SKHYNIX traders for claims below $10K Hyperliquid’s HIP-3 now accounts for 65% of total trading volume, with TradeXYZ dominance increasingly viewed as a risk. 

According to Ali Martinez, the asset has the potential to spike to nearly $75 in the short term.

Most leading cryptocurrencies have headed south over the past 24 hours, yet Hyperliquid’s HYPE is among the few to defy the latest red wave.

While it has risen by a mere 1.5%, one analyst assumed it might be gearing up for a staggering 40% pump in the near future.

The Necessary Condition Currently, HYPE trades at around $54.70, placing it above the lower boundary of an important channel depicted by Ali Martinez. He suggested that if the asset holds the $53 level, a move up to $75 is possible. Also speaking on the matter was Altcoin Sherpa, who claimed that HYPE’s current level is “a good spot for a bounce.”

“Expecting huge tradfi trading volumes to come over the next few days too, which helps,” the analyst added.

Some on-chain signals also suggest that the asset may post additional gains in the short term. CoinGlass’s data shows that exchange outflows have dominated over inflows in the last several days, meaning that investors have transferred their holdings from centralized platforms to self-custody solutions. This is considered a bullish factor since it reduces the immediate selling pressure.

HYPE Exchange Netflow, Source: CoinGlass The Bearish Case The number of pessimists, though, seems even more well-represented. X user Cut recently doubted HYPE’s potential, reminding of its inability to break its all-time high and wondering if its price would make a substantial decline. Ryker joined the discussion, projecting a plunge to $32 “soon.”

Cryptorphic also gave their two cents, arguing that HYPE is showing weakness after losing its long-term trendline and its price has broken below the key ascending support. They believe that if the $57-$58 range turns into resistance, the breakdown could confirm further downside, envisioning a possible crash under $30.

Meanwhile, the whales’ activity reinforces the pessimists’ outlook. Lookonchain disclosed that large investors keep selling HYPE, revealing the case of a market participant who purchased over one million tokens at an average price of $18 17 months ago and unstaked and deposited the stash into FalconX and Coinbase, perhaps with the intention to cash out.

You may also like: Trade.xyz Will Cover Losses From SK Hynix Liquidation Anomaly on Hyperliquid One Bad Price, 960 Liquidations: Inside SK Hynix Flash Crash on Hyperliquid Hyperliquid and Multicoin Push CFTC Toward One Prediction Market Rulebook The waning institutional interest adds more weight to the bearish perspective. Spot HYPE ETFs, which attracted substantial capital in June, have not appealed to pension funds, hedge funds, and other conservative investors during most days of July, with outflows significantly dwarfing inflows.

Spot HYPE ETFs, Source: SoSoValue Tags:

TLDR Hyperliquid HIP-4 now lets testnet developers deploy standardized outcome markets after staking 100 HYPE, without auctions or gas charges. HYPE price slipped below $55 and tested the $52 to $54 support zone as lower highs, lower lows, and whale transfers increased selling concerns. Hyperliquid burned about 26,080 HYPE worth nearly $1.43 million in 24 hours while protocol fees reached approximately $1.47 million. The preliminary mainnet model still proposes a 500,000 HYPE stake, six-month lock, validator slashing, and approved templates for market creation. Hyperliquid HIP-4 has entered a new testnet phase, allowing developers to deploy outcome markets through approved templates. The rollout expands Hyperliquid’s prediction-market framework beyond validator-created contracts while keeping settlement rules standardized. Developers currently stake 100 HYPE to register as deployers and can launch markets without auctions or gas charges. 

The update arrives as HYPE price trades near $53.50 after losing the $55 level. Large token transfers to institutional trading platforms have also raised supply concerns. Meanwhile, Hyperliquid burned about 26,080 HYPE during the past day. Protocol fees reached roughly $1.47 million, supporting its continuing buyback-and-burn mechanism during the reported period.

Hyperliquid Price (HYPE/USD) Hyperliquid HIP-4 Expands Permissionless Testnet Markets Hyperliquid HIP-4 lets registered builders select validator-approved templates, then define an underlying asset, target level, and expiry. Each template fixes important wording, side names, and keywords. That structure reduces duplicate markets carrying slightly different language or settlement conditions.

The current testnet limits each deployer to 10 active outcomes and 50 deployments daily. Hyperliquid plans to add configurable fees and additional templates after developers test market creation and settlement. Its updated documentation now exposes outcome metadata through a testnet-only application programming interface.

Hyperliquid first introduced HIP-4 outcome contracts as fully collateralized products that settle within a fixed range. They do not use leverage or liquidations. Initial contracts focused on recurring binary outcomes tied to HyperCore mark prices.

The wider permissionless design follows a preliminary framework announced on July 20. Hyperliquid proposed a 500,000 HYPE stake for mainnet deployers, a six-month lock, and validator-controlled slashing. Validators could penalize poorly defined markets, incorrect settlements, or contracts left unsettled beyond one week. Those mainnet terms remain preliminary and differ from the lower testnet requirement.

HIP-4 activity remains small after sports-related contracts lost demand following the World Cup. Market data placed open interest near $182,000 and notional volume around $881,000. Permissionless creation could broaden listings toward economic data, elections, crypto prices, and other measurable events.

HYPE Price Holds $52 to $54 as Whale Transfers Increase Meanwhile, the HYPE price has formed lower highs and lower lows after retreating from the $60 region. The token traded near $53.50, placing the $52 to $54 support band under pressure. That area also matches a June swing low.

A four-hour close below $52 would weaken the current structure. A failed recovery above that level could expose $48 to $50. Further selling could return attention to the earlier $44 to $46 demand zone. However, a rebound above $58 to $60, followed by a higher low, would reduce immediate downside pressure.

Large transfers have complicated the short-term HYPE price setup. Lookonchain previously recorded institutional unstaking and exchange-related movements during July, including deposits to Coinbase Prime. The tracker also reported 1.96 million HYPE unstaked across three Multicoin Capital wallets. Multicoin later said wallet rotation, rather than selling, motivated at least part of its activity.

Separate wallet movements included HYPE deposits to FalconX and Coinbase Prime. Transfers to brokerage or custody platforms can support over-the-counter execution, asset rotation, or sales. Blockchain movements alone cannot confirm a disposal.

Hyperliquid’s fee system continues removing tokens from the circulating supply. A tracker read the protocol’s assistance-fund address on July 27. It showed about 46.05 million HYPE at the burn address. That balance represented roughly 4.6% of the original one-billion-token maximum supply.

The latest reported daily burn added about 26,080 HYPE, valued near $1.43 million at the recorded price. Protocol fees reached about $1.47 million during the same period. The burn reduces supply, while whale transfers increase the amount potentially available for institutional execution. Mainnet still lacks a confirmed launch date, leaving broader developer participation dependent on future testnet results and validator feedback.

On November 29, 2024, a perpetual futures exchange called Hyperliquid distributed 31% of its total token supply to users who had traded on the platform. There was no venture capital allocation to dilute the drop. There was no points program with opaque conversion ratios. The protocol simply looked at who had used the product, calculated their allocation based on trading activity, and sent the tokens. Some active traders received allocations worth six figures. A few exceeded a million dollars. The HYPE token launched at $2 and traded above $30 within weeks, making it the most valuable airdrop in crypto’s history and, briefly, a larger market-cap asset than some of the tokens it traded. The event was exceptional, but the mechanism behind it, distributing tokens to reward early users and bootstrap a decentralized community, has become one of the defining patterns of the crypto economy. This guide explains how airdrops work, the models that have evolved, the strategies that position wallets for eligibility, the scams that exploit the format, and the US tax obligations that most recipients discover too late.

Summary

A crypto airdrop distributes free tokens to wallet addresses, typically rewarding early protocol users, specific token holders, or participants who complete qualifying on-chain activities. Airdrops have evolved from simple holder distributions to sophisticated retroactive rewards, points-based programs, and sybil-filtered campaigns that attempt to distinguish genuine users from industrial farmers. In the United States, airdropped tokens are taxable as ordinary income at fair market value when received, creating immediate tax liability regardless of whether the tokens are sold, a trap that catches many recipients when token prices subsequently decline. The word “airdrop” entered the crypto vocabulary early, borrowed from military supply drops: tokens delivered to wallets from above, unsolicited and (initially) unexpected. The earliest airdrops were crude: protocols would distribute tokens to every Ethereum address that had ever transacted, or to holders of a specific token, as a marketing exercise to generate awareness. The tokens were often worthless and the strategy was indiscriminate, the crypto equivalent of dropping flyers from a plane. What transformed airdrops from a marketing gimmick into a serious economic mechanism was the retroactive model: rewarding people who had already used a product before they knew a reward was coming. This subtle shift changed everything. Instead of distributing tokens to build awareness, protocols began distributing tokens to reward genuine early adoption, aligning incentives between the protocol and its most committed users. The retroactive airdrop became, in effect, a delayed equity grant for early users, a mechanism without precedent in traditional technology. No web2 company has ever retroactively compensated its earliest users with ownership stakes. Crypto protocols do it routinely, and the practice has distributed billions of dollars to millions of wallets since Uniswap established the template in September 2020.

How airdrops work: the mechanics from snapshot to claim The mechanics of a modern airdrop follow a consistent pattern, though the details vary between protocols.

The process begins with a snapshot: at a specific block number, the protocol records the state of every wallet that interacted with it. The snapshot captures a moment in time, a frozen record of who used the product, how much they used it, and what they did. Snapshot dates are typically announced only after they have passed, preventing users from gaming the system by rushing to interact before the cutoff. Some protocols take multiple snapshots across different dates, weighting allocations toward sustained usage rather than one-time interactions.

After the snapshot, the protocol calculates allocations. The criteria vary but generally reward a combination of factors: total transaction volume, number of interactions, duration of usage (how many months was the wallet active), breadth of activity (how many different protocol features were used), and, increasingly, qualitative assessments of whether the usage appears organic or synthetic. The allocation formula is the airdrop’s most consequential design decision, because it determines who benefits and how much. Broad formulas that give every user a minimum allocation (Uniswap’s 400 UNI floor) maximize reach but dilute per-user value. Narrow formulas that heavily weight volume or duration concentrate value in power users but risk excluding the community members who would benefit most from governance participation.

Once allocations are calculated, the protocol publishes a claim page, typically a dedicated web application where users connect their wallet and claim their tokens. The claim process involves signing a transaction that triggers the distribution smart contract to release the allocated tokens to the connected wallet. Most airdrops impose a claim deadline, usually 30-90 days, after which unclaimed tokens revert to the protocol treasury or are redistributed. The deadline creates urgency and ensures that allocations reach active community members rather than sitting indefinitely in dormant wallets.

Some airdrops skip the claim process entirely and send tokens directly to eligible wallets, though this approach has fallen out of favor for two reasons: it creates an immediate tax liability for US recipients who did not ask for the tokens (more on this below), and it can trigger phishing confusion, where users see unknown tokens in their wallets and interact with them, potentially connecting to malicious contracts.

The evolution: from holder drops to retroactive rewards The history of crypto airdrops is a story of increasing sophistication in answering a deceptively simple question: who deserves tokens?

The first generation of airdrops, roughly 2017-2019, answered “everyone.” Projects distributed tokens to all ETH holders, all users of a specific DeFi protocol, or anyone who filled out a form. The tokens were typically worthless or nearly so, and the primary purpose was awareness: getting the token name into wallets and onto portfolio trackers in the hope that some recipients would investigate further. The model was spray-and-pray, and its success rate matched that description.

The second generation, inaugurated by Uniswap’s September 2020 UNI airdrop, answered “people who used our product.” Uniswap distributed 400 UNI tokens (worth approximately $1,200 at launch) to every wallet that had ever made a swap on the platform, with larger allocations for liquidity providers. The airdrop was retroactive: users who had interacted with Uniswap months or years before the token existed received allocations based on their historical usage. The model was elegant in its incentive alignment: it rewarded genuine early adopters who had taken the risk of using an unproven protocol, and it distributed governance power to users who presumably understood the product they were governing. The UNI airdrop is the most important single event in airdrop history because it established the template that every subsequent major airdrop has followed.

The third generation, spanning 2022-2024, refined the retroactive model with tiered criteria and anti-sybil measures. Optimism’s OP airdrop weighted allocations across multiple criteria: Ethereum usage history, governance participation, multi-protocol interaction, and bridging activity. Arbitrum’s ARB airdrop used a point system that rewarded specific behaviors: bridging to Arbitrum, transacting regularly over time, using multiple protocols on the chain. These airdrops were more targeted than Uniswap’s flat-minimum approach, rewarding depth and duration of usage rather than mere existence.

The fourth generation, peaking in 2024-2025, introduced points programs as a pre-airdrop incentive layer. Instead of a retroactive surprise, protocols openly told users: “use our product, earn points, and points will convert to tokens at some future date.” EigenLayer’s restaking points, Blast’s ecosystem points, Ethena’s shards, and dozens of others used this model. Points programs solved one problem, they aligned user behavior in real time rather than retroactively, but created another: they transformed organic usage into calculated farming, attracted capital that would leave the moment points stopped accruing, and introduced a speculative dynamic where the uncertain conversion ratio spawned secondary markets for points trading. The fifth generation, represented by Hyperliquid’s direct distribution model, was in part a reaction against the fourth: no points, no VC allocation, just retroactive rewards to genuine users. Whether this approach becomes the new standard or an anomaly depends on whether protocols can sustain themselves without the VC funding that points programs are designed to complement.

The biggest airdrops in crypto history The financial significance of airdrops is best understood through the events that defined the category. Each case study illustrates different design choices and their consequences.

Uniswap’s UNI airdrop (September 2020) distributed 15% of the total supply to past users. The minimum allocation of 400 UNI was worth roughly $1,200 at launch and reached $16,800 at UNI’s all-time high. The airdrop reached approximately 250,000 addresses and distributed $1.1 billion in value at peak prices. It established the retroactive model and created a governance structure for the most important decentralized exchange.

ENS’s airdrop (November 2021) rewarded users who had registered Ethereum Name Service domains, with allocations weighted by the duration and number of registrations. Early domain registrants who had held names for years received allocations worth tens of thousands of dollars. The airdrop was notable for rewarding long-term commitment to a public good rather than financial activity.

Arbitrum’s ARB airdrop (March 2023) distributed 11.5% of the total supply to early users of the layer-2 network. Allocations were calculated on a points basis with criteria including bridging, transaction frequency, duration of usage, and interaction with multiple protocols. Maximum allocations exceeded $10,000, and the airdrop reached over 600,000 addresses. The concurrent creation of the Arbitrum DAO, with a $3.5 billion treasury, made ARB one of the most consequential governance token launches in crypto history.

Jupiter’s JUP airdrop (January 2024) rewarded users of Solana’s leading DEX aggregator. The airdrop was notable for its scale on Solana, reaching hundreds of thousands of wallets, and for the turbulence of its launch, where high demand overwhelmed the claim interface and created a chaotic first hour of trading. Jupiter subsequently conducted additional airdrop rounds, distributing tokens over multiple events rather than a single drop.

Hyperliquid’s HYPE airdrop (November 2024) distributed 31% of the total supply to platform users with no VC allocation. The airdrop was the most valuable in crypto history by per-user value, with some active traders receiving allocations worth hundreds of thousands of dollars. HYPE launched at approximately $2 and traded above $30 within weeks, reaching a fully diluted valuation that briefly exceeded $30 billion. The drop was widely celebrated for its fair distribution model and for demonstrating that a protocol could bootstrap a community without venture capital dilution.

EigenLayer’s EIGEN airdrop (May 2025) distributed tokens to users who had restaked ETH through the protocol’s restaking infrastructure. The airdrop was one of the most anticipated in crypto’s history, given the billions of dollars deposited in EigenLayer’s contracts, but also one of the most controversial: the points-to-token conversion ratio was lower than many depositors expected, and geographic restrictions excluded users in several jurisdictions. The episode crystallized the risks of points-based airdrop farming: uncertain conversion, geographic risk, and the mismatch between depositor expectations and protocol decisions.

How to position yourself: strategies that have worked While no airdrop is guaranteed, retroactive analysis of successful airdrops reveals consistent patterns that have historically qualified wallets for significant allocations.

Use protocols early and consistently. The most valuable airdrop allocations go to wallets that used a product during its earliest months, before it had significant traction. Early usage signals genuine interest rather than airdrop farming, and protocols consistently weight allocations toward users who took the risk of trusting unproven code with their capital. The corollary: a single interaction months before the snapshot is typically worth more than dozens of interactions in the week before, because early usage is harder to fake.

Be a genuine, multi-dimensional user. Protocols increasingly use breadth of activity as a quality signal. A wallet that bridged to a chain, swapped on its DEX, provided liquidity, participated in governance, and used multiple dApps across multiple months reads as an organic user. A wallet that made one swap of exactly $100 on the first of every month for six months reads as a bot. The more closely your on-chain behavior resembles how someone who actually uses and cares about the protocol would behave, the more likely you are to qualify for meaningful allocations.

Provide liquidity and stake. Protocols value capital commitment because it directly benefits the ecosystem. Depositing tokens into liquidity pools, lending markets, or staking contracts signals that you are contributing to the protocol’s function, not just passing through. Liquidity provision, lending deposits, and staking consistently trigger higher-tier airdrop allocations than transactional usage alone.

Participate in governance and community. Voting on proposals, delegating governance tokens, and participating in governance forums have qualified wallets for airdrops from Optimism, Gitcoin, and ENS. Community participation signals alignment with the protocol’s long-term goals rather than extractive, farm-and-dump behavior.

Use multiple chains. The cross-chain ecosystem rewards users who bridge and transact across Ethereum, Arbitrum, Optimism, Base, Solana, Cosmos, and emerging chains. Bridging activity is a common airdrop criterion because it demonstrates willingness to explore the broader ecosystem rather than staying on a single chain.

Track announcements but do not trust secondary sources. Airdrop eligibility criteria are published by the protocol team on their official website, blog, or X/Twitter account. Third-party aggregator sites (airdrops.io, earni.fi, DeFi Llama’s airdrop page) compile upcoming opportunities but should be verified against primary sources. Never connect your wallet to a site you discovered through a DM, an ad, or an unsolicited link.

The sybil problem: farming, filtering, and the arms race The most significant challenge facing the airdrop model is the tension between rewarding genuine users and resisting industrial-scale farming.

Sybil farming is the practice of operating dozens or hundreds of wallets, each executing a scripted set of interactions designed to qualify for airdrop allocations, effectively multiplying one person’s allocation by the number of wallets they control. At its peak, airdrop farming operations ran thousands of wallets, each with automated transaction flows that mimicked organic user behavior, and the operators treated farming as a business with calculable costs (gas fees, bridging costs, time) and expected returns (airdrop allocations across the wallet fleet).

The countermeasure is sybil detection: analyzing on-chain activity patterns to identify clusters of wallets controlled by the same entity. Common detection signals include: wallets funded from the same source, wallets that execute identical transaction sequences within the same time window, wallets that all bridge identical amounts on the same day, and wallets that interact with the same set of contracts in the same order. LayerZero’s 2024 airdrop was the most aggressive sybil filtering exercise to date: the protocol invited users to self-report sybil activity in exchange for a reduced (but nonzero) allocation, then used on-chain analysis to identify and disqualify wallets that did not self-report. The exercise disqualified thousands of addresses and demonstrated that the days of low-effort sybil farming producing outsized returns are likely over.

On-chain identity systems are the next frontier of sybil resistance. Gitcoin Passport aggregates identity signals, social media accounts, government ID verification, participation in specific communities, into a composite score that protocols can use as an eligibility criterion. Worldcoin’s proof of personhood, based on iris scanning, offers a more extreme version: cryptographic proof that a wallet belongs to a unique human. The tradeoff between sybil resistance and privacy is explicit: the more identity information you provide, the harder it is to farm, but the more you sacrifice the pseudonymity that attracted many users to crypto in the first place.

The arms race between farmers and protocols is permanent. Every new filtering technique inspires new evasion strategies: more realistic transaction patterns, more diversified funding paths, human-assisted farming operations that blend automated and manual behavior. The equilibrium is that farming remains profitable for sophisticated operators but increasingly unprofitable for casual copy-paste farming, and the majority of airdrop value flows to genuinely organic users, which is the outcome protocols want even if it is never perfectly achieved.

Airdrop scams: the taxonomy and how to survive For every legitimate airdrop, there are orders of magnitude more scam attempts, and the scam ecosystem is industrialized, creative, and dangerous.

Fake claim sites are the most common and most effective scam vector. Within minutes of a legitimate airdrop announcement, scammers launch dozens of websites that visually clone the official claim page. They distribute links through social media ads, phishing emails, fake project accounts, and paid promotions. When a user connects their wallet and signs a transaction on the fake site, the transaction does not claim tokens but instead approves a malicious contract to drain the wallet’s existing assets. The defense is verification: never use a claim link from a tweet, DM, email, or ad. Go directly to the protocol’s official website (bookmarked, not searched) and find the claim link from there. Verify the contract address on Etherscan before signing anything.

Phishing tokens are the second major vector. Scam tokens appear in your wallet unsolicited, showing a deceptive name (“AIRDROP,” “Claim at [malicious URL],” or the name of a legitimate protocol). The tokens are designed to bait you into interacting with them: swapping, transferring, or visiting the URL embedded in the token name. Any interaction can trigger a transaction that grants a malicious contract access to your real assets. The rule is absolute: never interact with tokens you did not expect to receive. Hide them in your wallet interface and ignore them entirely.

Social engineering exploits trust and urgency. Scammers impersonate project team members on Discord and Telegram, sending direct messages about “early access” to airdrops, “whitelisting” opportunities, or “unclaimed allocations” that will expire soon. Legitimate project teams never initiate direct messages about airdrops. Any DM claiming to offer an airdrop is a scam, without exception.

“Send to receive” scams are the simplest and oldest form. A scammer claims you can unlock or multiply your airdrop allocation by sending tokens to a specific address. No legitimate airdrop requires you to send crypto first. If someone asks you to send tokens to receive tokens, it is a scam, full stop.

Operational security for airdrop claims should be routine: use a dedicated claiming wallet that does not hold your main assets. Check contract addresses against verified sources before signing. Never sign unlimited token approvals. Revoke approvals after claiming (tools like revoke.cash make this straightforward). Treat every claim interaction as potentially hostile until verified through primary sources.

US taxes: the IRS position and the trap it creates The US tax treatment of airdrops is one of the least understood and most consequential aspects of the crypto tax landscape, and it creates a trap that catches thousands of recipients every airdrop season.

The IRS position is clear: airdropped tokens are taxable as ordinary income at fair market value on the date of receipt. For claimable airdrops, the receipt date is when you claim the tokens, not when the snapshot was taken and not when the tokens were announced. For direct-send airdrops where tokens appear in your wallet without any action on your part, the receipt date is when the tokens arrive. The income is taxed at your ordinary income tax rate, which can be as high as 37% federal plus state taxes.

The trap operates as follows. A user claims 10,000 tokens worth $5 each on claim day: $50,000 in ordinary income. They owe approximately $15,000-20,000 in taxes (depending on their bracket and state). They hold the tokens because they believe the price will rise. The token’s price drops 80% over the following months, as many airdropped tokens do when the initial distribution wave triggers selling pressure. The user’s tokens are now worth $10,000, but they still owe $15,000-20,000 in taxes on the original $50,000 income event. Selling the tokens at $10,000 creates a $40,000 capital loss ($50,000 cost basis minus $10,000 sale price), which can offset capital gains from other sources, but capital losses in excess of $3,000 per year can only be carried forward, not applied against ordinary income. The result: a net tax liability on tokens that produced an actual loss. The farmer who claimed and immediately sold at least locked in the proceeds to cover the tax bill. The farmer who held and watched the price decline is paying taxes on money they never received.

The compliance burden is entirely on the recipient. No DeFi protocol issues 1099 forms for airdrops. No centralized claim page reports your allocation to the IRS. You are responsible for tracking the date of receipt, the fair market value at that moment, and the subsequent cost basis for every airdropped token. For active airdrop farmers who claim tokens from multiple protocols across multiple chains, the record-keeping burden is substantial and the consequences of noncompliance are the same as for any other unreported income.

The practical advice is to make the tax decision at the moment of claiming. If you claim tokens worth $X, decide immediately whether you are holding or selling. If holding, set aside the estimated tax obligation in cash. If selling, sell enough to cover the tax bill and treat the remainder as risk capital. The worst outcome, and the most common one, is claiming tokens, doing nothing, watching the price decline, and discovering the tax bill at filing time.

Where airdrops go from here The airdrop model is at an inflection point. Several forces are reshaping how protocols think about token distribution.

Points fatigue is real. After two years of points-based programs with uncertain conversion ratios, the community has developed meaningful skepticism toward programs that ask for capital commitment without concrete token commitments. Hyperliquid’s success was partly a reaction to points fatigue: its clean, direct distribution was perceived as more honest than the opaque points systems that preceded it. Protocols launching in 2026 face higher expectations for transparency about token allocation and distribution timelines.

Sybil resistance is improving but imperfect. On-chain analysis, identity verification, and machine learning are making industrial farming less profitable, but they have not eliminated it. The arms race continues, and the equilibrium will likely stabilize at a point where farming remains viable for sophisticated operators but unprofitable for casual copy-paste approaches. The cost of being identified as a sybil, permanent exclusion from future airdrops and potential reputation damage, is increasing.

Regulatory pressure is building. As airdrops distribute larger amounts of value and more US residents participate, the IRS and SEC’s interest grows. Future airdrops to US recipients may require KYC verification, which would fundamentally change the permissionless character of the mechanism. Some protocols have already geo-blocked US users from claiming, either out of regulatory caution or because the legal analysis of whether their token constitutes a security has not produced a comfortable answer.

Revenue sharing is emerging as an alternative. Instead of one-time token airdrops, some protocols are shifting toward ongoing revenue sharing with active users, paying a portion of protocol fees to users who contribute liquidity, volume, or other measurable value. This model is more sustainable than one-time drops because it rewards continued engagement rather than past usage, and it avoids the sell-pressure dynamics that plague token launches. Whether revenue sharing replaces airdrops or complements them is an open question, but the trend toward more sustainable, less speculative distribution mechanisms is clear.

The underlying dynamic will not change: protocols need users, users respond to incentives, and the most effective incentive crypto has ever produced is the retroactive distribution of value to early adopters. The format will evolve, the filtering will improve, the regulatory environment will tighten, and the tax obligations will persist, but the fundamental mechanism, rewarding those who bet on a product before the crowd arrives, is too powerful to abandon. The airdrop is not going away. It is growing up.

Frequently asked questions Are crypto airdrops free money? Airdrops distribute tokens at no direct cost, but they are not truly free. You earn eligibility by using protocols, which involves transaction fees, gas costs, time, and the risk of interacting with unaudited smart contracts. In the United States, airdropped tokens are immediately taxable as ordinary income at fair market value, which can result in a significant tax bill. Some airdrops have been worth thousands or tens of thousands of dollars per recipient; many others are worth near zero. The expected value of any individual airdrop is uncertain until the token launches and trades.

How do I know if I am eligible for an airdrop? Check the protocol’s official announcement channels: their website, blog, X/Twitter account, or Discord announcements channel. Protocols publish eligibility criteria, including snapshot dates, qualifying actions, and allocation formulas, when they announce the airdrop. Aggregator sites like earni.fi, airdrops.io, and DeFi Llama’s airdrop tracker compile upcoming and active airdrop opportunities. Always verify eligibility through the protocol’s official website before connecting your wallet to any claim page. Never rely on DMs, ads, or unsolicited links for airdrop information.

Can airdrops be scams? Yes, and the majority of unsolicited airdrop offers are scams. Legitimate airdrops are announced through official project channels and use the project’s verified website for claims. Scam airdrops appear as unknown tokens in your wallet designed to bait interaction, as fake claim websites that drain your wallet when you connect, or as social media messages from impersonated team members. Never sign transactions for unexpected tokens, never send crypto to “unlock” an airdrop, and never use claim links from DMs or ads. If an airdrop claim requires you to do anything other than connect your wallet to a verified official site and sign a claim transaction, it is almost certainly a scam.

Do I have to pay taxes on airdrops in the US? Yes. The IRS classifies airdropped tokens as ordinary income, taxable at fair market value on the date received or claimed. This tax is owed regardless of whether you sell the tokens. If you later sell the tokens, you owe capital gains tax on any price change from the fair market value at receipt (your cost basis). No DeFi protocol or claim platform issues tax forms, so the entire burden of tracking and reporting falls on the recipient. The most common tax trap is claiming tokens, holding them while the price drops, and discovering at tax time that you owe income tax on value you never realized. Sell enough at claim time to cover estimated taxes, or set aside cash to cover the obligation.

What is the best wallet for receiving airdrops? Any non-custodial wallet that supports the relevant blockchain: MetaMask or Rabby for Ethereum and EVM chains, Phantom for Solana, Keplr for Cosmos. The key requirement is that you control the private keys, because airdrops are distributed to on-chain addresses that you interact with, and you need to be able to sign claim transactions from the same wallet. Exchange-hosted wallets (Coinbase, Binance) sometimes receive airdrops on behalf of users, but not always, and you have no guarantee of receiving or claiming through a custodial platform. For security, use a hardware wallet (Ledger, Trezor) for large holdings and consider maintaining a separate “hot” wallet specifically for airdrop claims and exploratory protocol usage, limiting your exposure if a claim interaction turns out to be malicious.

Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice.

COINTELEGRAPH: RWA perpetual futures volume nears Bitcoin on Hyperliquid, Binance

NVIDIA overtakes Apple in market capitalization, regaining the title of the world's most valuable company.

According to market data from BIT (bit.com), Apple Inc.'s stock price once extended its decline to 10%, marking the largest intraday drop since April 2025, as its Q4 revenue guidance fell short of expectations. The company's current market capitalization stands at $4.39 trillion. NVIDIA's stock rose 1.55% today, with its market cap reaching $4.797 trillion, surpassing Apple to once again become the world's most valuable company by market capitalization.

18 minutes ago

Iran claims to have closed the Strait of Hormuz, U.S. Central Command denies.

Local time on July 31, the U.S. Central Command (CENTCOM) stated that "the Iranian government's renewed claim that it has closed the Strait of Hormuz is false." CENTCOM added that "the Strait of Hormuz remains open for merchant vessel traffic; Iran does not control the strait," noting that "thousands of ships have transited this international waterway over the past four months." Earlier on July 31, Iran's Persian Gulf Strait Administration issued a statement saying that due to the U.S. military's continued aggressive operations in the relevant waters, the Strait of Hormuz is currently not normally navigable. (Source: CCTV)

18 minutes ago

Jensen Huang: "Now is the best time in history to start a business—don’t overthink ‘how hard can it be’."

According to Fortune, NVIDIA CEO Jensen Huang told attendees at Y Combinator’s Startup School 2026 that the present is the best time in history to launch a company, advising young entrepreneurs not to overthink due to rapid technological shifts or fear of failure. When facing challenges, he suggested asking himself: “How hard can it be?” Huang emphasized that entrepreneurs don’t need all the answers from day one; the core is being willing to confront reality and continuously learn. In NVIDIA’s early days, the company bet on the wrong graphics technology. When the team lacked solutions, he purchased three technical textbooks and gave them to his engineers. He noted that as long as one retains a learning mindset, specific technologies themselves are not the most critical factor. That said, Huang doesn’t believe success comes easily. He revealed he still works seven days a week and has long worried about the company collapsing; this sense of vulnerability, uncertainty, and insecurity has never faded. His advice: don’t imagine all difficulties in advance, lest anxiety derail action, but let challenges arise gradually and solve them one by one. Data shows U.S. business applications hit a record 3.23 million in the first half of 2026, up 12.1% year-over-year. However, startup risks remain high: U.S. Bureau of Labor Statistics data indicates nearly half of businesses cease operations within five years of launch.

18 minutes ago

Trump’s approval rating has dropped to its lowest level since his second term.

Political analyst Nate Silver said that due to the ongoing unpopular Iran war and surging natural gas prices, President Trump’s approval rating has dropped to its lowest point since his second term this month. He noted, “The timing aligns closely with the rebound in natural gas prices and the resumption of hostilities in Iran.” As the war nears its sixth month, data from the American Automobile Association (AAA) shows that as of Friday morning, the average U.S. gasoline price stood at around $4.11 per gallon, up from roughly $3.15 a year ago. According to polling averages from Decision Desk HQ, Trump’s overall average approval rating was 40.6% as of Friday morning, while his average disapproval rating reached 57.5%. A Quinnipiac University poll found that 60% of U.S. voters oppose the war, the highest opposition rate recorded since the conflict began on February 28. Nearly three-quarters of Americans said they oppose deploying U.S. troops to Iran. An AP-NORC poll also showed that 64% of Americans consider the war “not worth it”; among them, 87% of Democratic voters, 37% of Republican voters, and 68% of independent voters hold this view. (Jin10)

18 minutes ago

Tom Lee: South Korean stock market may be in the final stage of bottoming out

Chairman Tom Lee of Bitmine, the largest Ethereum treasury company, posted a statement saying that given South Korean policymakers have begun showing "panic", South Korea's stock market may be in the final stage of bottoming out. He cited the view of David Tepper, founder of Appaloosa and a well-known fund manager, stating: "When policymakers start panicking, the market stops panicking."

18 minutes ago

NVIDIA overtakes Apple in market capitalization, regaining the title of the world's most valuable company.

According to market data from BIT (bit.com), Apple Inc.'s stock price once extended its decline to 10%, marking the largest intraday drop since April 2025, as its Q4 revenue guidance fell short of expectations. The company's current market capitalization stands at $4.39 trillion. NVIDIA's stock rose 1.55% today, with its market cap reaching $4.797 trillion, surpassing Apple to once again become the world's most valuable company by market capitalization.

18 minutes ago

Iran claims to have closed the Strait of Hormuz, U.S. Central Command denies.

Local time on July 31, the U.S. Central Command (CENTCOM) stated that "the Iranian government's renewed claim that it has closed the Strait of Hormuz is false." CENTCOM added that "the Strait of Hormuz remains open for merchant vessel traffic; Iran does not control the strait," noting that "thousands of ships have transited this international waterway over the past four months." Earlier on July 31, Iran's Persian Gulf Strait Administration issued a statement saying that due to the U.S. military's continued aggressive operations in the relevant waters, the Strait of Hormuz is currently not normally navigable. (Source: CCTV)

18 minutes ago

Jensen Huang: "Now is the best time in history to start a business—don’t overthink ‘how hard can it be’."

According to Fortune, NVIDIA CEO Jensen Huang told attendees at Y Combinator’s Startup School 2026 that the present is the best time in history to launch a company, advising young entrepreneurs not to overthink due to rapid technological shifts or fear of failure. When facing challenges, he suggested asking himself: “How hard can it be?” Huang emphasized that entrepreneurs don’t need all the answers from day one; the core is being willing to confront reality and continuously learn. In NVIDIA’s early days, the company bet on the wrong graphics technology. When the team lacked solutions, he purchased three technical textbooks and gave them to his engineers. He noted that as long as one retains a learning mindset, specific technologies themselves are not the most critical factor. That said, Huang doesn’t believe success comes easily. He revealed he still works seven days a week and has long worried about the company collapsing; this sense of vulnerability, uncertainty, and insecurity has never faded. His advice: don’t imagine all difficulties in advance, lest anxiety derail action, but let challenges arise gradually and solve them one by one. Data shows U.S. business applications hit a record 3.23 million in the first half of 2026, up 12.1% year-over-year. However, startup risks remain high: U.S. Bureau of Labor Statistics data indicates nearly half of businesses cease operations within five years of launch.

18 minutes ago

Trump’s approval rating has dropped to its lowest level since his second term.

Political analyst Nate Silver said that due to the ongoing unpopular Iran war and surging natural gas prices, President Trump’s approval rating has dropped to its lowest point since his second term this month. He noted, “The timing aligns closely with the rebound in natural gas prices and the resumption of hostilities in Iran.” As the war nears its sixth month, data from the American Automobile Association (AAA) shows that as of Friday morning, the average U.S. gasoline price stood at around $4.11 per gallon, up from roughly $3.15 a year ago. According to polling averages from Decision Desk HQ, Trump’s overall average approval rating was 40.6% as of Friday morning, while his average disapproval rating reached 57.5%. A Quinnipiac University poll found that 60% of U.S. voters oppose the war, the highest opposition rate recorded since the conflict began on February 28. Nearly three-quarters of Americans said they oppose deploying U.S. troops to Iran. An AP-NORC poll also showed that 64% of Americans consider the war “not worth it”; among them, 87% of Democratic voters, 37% of Republican voters, and 68% of independent voters hold this view. (Jin10)

18 minutes ago

Tom Lee: South Korean stock market may be in the final stage of bottoming out

Chairman Tom Lee of Bitmine, the largest Ethereum treasury company, posted a statement saying that given South Korean policymakers have begun showing "panic", South Korea's stock market may be in the final stage of bottoming out. He cited the view of David Tepper, founder of Appaloosa and a well-known fund manager, stating: "When policymakers start panicking, the market stops panicking."

18 minutes ago

Decentralized exchange (DEX) Hyperliquid has rolled out HIP-4 permissionless deployments on the testnet, marking the first step toward enabling developers to deploy their prediction markets. This comes as the HYPE token continues to face significant selling pressure, falling below the psychological $55 level.

Hyperliquid’s HIP-4 Permissionless Deployment Goes Live On Testnet In their latest announcement, the Hyperliquid team revealed that the initial implementation of HIP-4 permissionless deployments is live on testnet. They also mentioned plans to roll out additional features, including configurable fees and more testnet templates.

This follows the initial announcement of plans to launch permissionless deployment for HIP-4 prediction markets last week. The feature is expected to launch on mainnet soon following the rollout on testnet.

The feature notably enables developers to launch their prediction and outcome markets on Hyperliquid, similar to how these developers can launch perpetuals for any asset on the HIP-3 market. The DEX had initially rolled out HIP-4 earlier this year, in a move to rival platforms such as Polymarket and Kalshi.

Blockworks data shows that the sports prediction markets have accounted for most of the open interest on Hyperliquid’s HIP-4 market. Interestingly, the open interest has been on a decline since the end of the 2026 FIFA World Cup earlier this month.

Source: Blockworks The HIP-4 market’s open interest currently stands at $182,000, according to Blockworks data. Meanwhile, the notional trading volume is $881,000.

HYPE Price Falls Below $55 The Hyperliquid price has fallen below the psychological $55 level amid the rollout of the HIP-4 permissionless deployment on testnet. The DEX token is currently trading at around $54.700, down almost 2% in the last 24 hours.

Source: TradingView The Hyperliquid price has fallen along with Bitcoin, which dropped below $64,000 as the U.S. and Israel discuss a land blockade on Iran, which could escalate the U.S.-Iran war. HYPE also faces significant selling pressure as whales continue to unstake and offload their coins.

Onchain analytics platform Lookonchain drew attention to a whale that bought HYPE at an average price of $18 months back and unstaked the tokens today and deposited them to FalconX and Coinbase Prime, likely in a move to sell them.

Whales keep selling $HYPE!

A whale that bought 1.02M $HYPE at an average price of $18 17 months ago unstaked the tokens today and deposited them into #FalconX and #CoinbasePrime 2 hours ago, likely to sell.https://t.co/sokAtSnie9 pic.twitter.com/fqgN3G5788

— Lookonchain (@lookonchain) July 31, 2026

For more on prediction markets, please check out our page on Best Crypto Prediction Markets In 2026

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