Duan Yongping has sold SpaceX put options with a strike price of $92.
Renowned investor Duan Yongping stated yesterday in response to a community user's question that he has started selling put options on SpaceX. This is his typical "potential acquisition" strategy. According to the live trading records of the SpaceX put options Duan shared, his quoted price was around 23.20, with actual execution at 23.26 (1,000 contracts), earning him a premium of approximately $2.32 million. Calculated over a 5-month term, the yield is roughly 25.35%, with an annualized return of about 60%. He noted, "I want to support Elon Musk's dream."
1 hours ago
The United States and the United Kingdom plan to discuss forming an international alliance to protect maritime shipping in the Strait of Hormuz.
According to AXIOS: European diplomats say the U.S. and the U.K. are discussing holding a high-level meeting in London next week, with the meeting focusing on a potential plan to establish an international coalition to protect maritime shipping in the Strait of Hormuz.
1 hours ago
A prominent trader says Bitcoin’s cycle is accelerating, and firmly believes this cycle will still hit a new high before the halving.
Renowned trader Killa (@KillaXBT) stated in a post that Bitcoin’s cycle is accelerating. The previous cycle took just 476 days to rise from its bottom to a new all-time high (ATH), far faster than the two prior cycles. He forecasts this cycle will also hit a new high ahead of the next halving. Killa, a BTC-focused quantitative trader, accurately predicted the peak of the current bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 before switching to long positions during the broad market sell-off on June 5.
1 hours ago
Qualcomm notifies its customers it can no longer absorb price hikes, and will raise prices by double-digit percentages.
Bloomberg cited a letter reporting that Qualcomm has informed its clients it can no longer absorb price hikes and will implement double-digit percentage price increases. Following the news, BIT (bit.com) market data shows Qualcomm’s decline narrowed, while Nvidia climbed 1.2% to hit a new daily high.
1 hours ago
OpenAI CEO: Hopes the U.S. wins in the open-source AI sector, and is "pleased to see" Jensen Huang's remarks.
OpenAI CEO Sam Altman said he hopes the U.S. will lead in both open-source AI and proprietary AI models, adding that he "welcomes" the statement Nvidia’s CEO made on social media regarding the open letter jointly issued by over 20 U.S. tech companies.
Hyperliquid ekosisteminin yerel tokeni HYPE, son 24 saatte yaşadığı değer kaybına rağmen yatırımcıların radarında kalmaya devam ediyor. Yazının hazırlandığı sırada HYPE yaklaşık 57,88 dolar seviyesinde işlem görürken, işlem hacmi 320,77 milyon dolar, piyasa değeri ise 14,62 milyar dolar olarak kaydedildi. Analistler, kısa vadeli düzeltme riskinin sürdüğünü belirtirken, kritik destek bölgesinin korunması halinde fiyatın yeniden güçlü bir yükseliş trendine girebileceğini ifade ediyor.
Teknik Görünümde Destek Bölgesi Kritik Önem Taşıyor Kripto para analisti Wick, HYPE fiyatının güçlü yükselişin ardından önemli bir direnç bölgesine ulaştığını ve mevcut görünümün geçmiş piyasa döngüleriyle benzerlik taşıdığını belirtiyor. Analiste göre grafikte oluşan A-B-C formasyonu, yükseliş, düzeltme ve yeniden toparlanma süreçlerinden oluşan klasik bir teknik yapı sergiliyor. Bu nedenle yaşanabilecek olası geri çekilmelerde 72 ile 100 dolar aralığı güçlü bir talep bölgesi olarak öne çıkıyor. Bu destek bölgesinin korunması, uzun vadeli yükseliş trendinin devam etmesi açısından kritik önem taşıyor.
İlginizi Çekebilir: Altın 4 Bin Dolar Direncinde!: Gözler Fed Faiz Kararında!
Wick’e göre HYPE, kritik destek alanı üzerinde kalmayı başarırsa yeni alım dalgası başlayabilir. Bu senaryoda fiyatın yeniden ivme kazanarak ilk etapta 120 dolar, ardından ise 150 dolar seviyelerine doğru hareket edebileceği değerlendiriliyor. Özellikle yatırımcı ilgisinin destek bölgesinde artması, yukarı yönlü hareketi hızlandırabilecek en önemli faktörlerden biri olarak görülüyor. Buna karşılık destek seviyesinin kaybedilmesi durumunda teknik görünüm önemli ölçüde zayıflayabilir.
72 Doların Altında Risk Artıyor Analistler, 72 dolar seviyesinin altında gerçekleşecek kalıcı fiyatlamaların daha derin bir düzeltmenin önünü açabileceğini belirtiyor. Bu durumda HYPE fiyatının yaklaşık 40 dolar seviyesinde bulunan uzun vadeli birikim bölgesine kadar geri çekilme ihtimali bulunuyor. Fiyat tarafındaki dalgalanmaya rağmen Hyperliquid ekosisteminde geliştirme faaliyetleri hız kesmeden sürüyor. PerpGame tarafından paylaşılan bilgilere göre, sürekli vadeli işlem (perpetual futures) sepetlerini temel alan yapay zeka ajan tokenleri artık HYPER EVM ağı üzerinde kullanılabiliyor.
Bu yeni ürünler sayesinde yatırımcılar:
Yapay zeka temalı token sepetlerine erişebiliyor. Sürekli vadeli işlem altyapısından faydalanabiliyor. Daha geniş portföy çeşitlendirme imkânı elde edebiliyor. HYPER EVM tabanlı DeFi uygulamalarını kullanabiliyor. Bu gelişmenin Hyperliquid ekosistemine yeni kullanıcı ve sermaye çekmesi bekleniyor.
HYPE İçin Gözler Hem Grafikte Hem Ekosistemde Uzmanlara göre HYPE fiyatının önümüzdeki dönemdeki performansı yalnızca teknik seviyelere bağlı olmayacak. Bir yandan yatırımcılar 72-100 dolar destek bölgesini yakından takip ederken, diğer yandan HYPER EVM üzerinde geliştirilen yeni ürünler ve ekosisteme giriş yapan sermaye de fiyat üzerinde belirleyici rol oynayabilir. Özellikle yapay zeka odaklı finansal ürünlerin yaygınlaşması, Hyperliquid ekosisteminin uzun vadeli büyümesini destekleyebilecek önemli gelişmeler arasında gösteriliyor. Önümüzdeki süreçte hem teknik seviyeler hem de ağ üzerindeki gelişmeler, HYPE’ın fiyat performansında belirleyici olmaya devam edecek.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Hyperliquid’s [HYPE] aggressive correction resumed after pausing on the 6th of July. The decline returned HYPE to one of its most closely watched support zones.
However, on-chain activity showed that long-term holders were increasing their exposure rather than exiting.
Recently, a single entity staked 1.49 million HYPE, worth roughly $88.2 million.
Source: Onchain Lens The entity distributed the stake across eight wallets, reducing its concentration within a single address.
Reports indicated that the wallets held their tokens for about nine months before staking them. That holding period suggested long-term positioning rather than short-term trading activity.
Why are holders staking more HYPE? The large deposit was part of a broader increase in Hyperliquid’s staking activity.
According to AMBCrypto’s recent analysis, Hyperliquid’s Network data recorded a 40% increase in Net Staking Flows. This pushed the total amount of staked HYPE to around 436 million tokens.
The increase could influence HYPE’s price because staking reduces the supply immediately available for trading.
However, staking alone cannot guarantee price appreciation.
Sustained inflows may still indicate that holders prefer earning staking rewards over selling during market weakness. In HYPE’s case, the timing aligned with the token’s return to a Demand Zone that previously attracted buyers.
This left traders watching whether reduced liquid supply could help stabilize HYPE’s correction.
Source: Staking Rewards Can HYPE defend the $52 zone? On the daily chart, HYPE’s broader Market Structure remained bullish despite its recent pullback. The decline returned HYPE to the $52–$58 Demand Zone.
This area previously produced several rebounds, making it an important level for buyers.
The zone also overlapped with the 200-day Exponential Moving Average [EMA] at $57.09.
Although HYPE traded below its 20-day and 50-day EMAs, the 200-day EMA remained a longer-term support reference.
If support holds alongside elevated staking, long-term holders may be absorbing available supply during the correction. By contrast, a decisive break below $52 could weaken the broader bullish structure and invite further selling.
The $64 resistance level remained the next major target if buyers regained control.
Source: TradingView Therefore, HYPE’s next move could depend on whether staking conviction translates into demand around $52–$58.
Final Summary HYPE returned to major support while Net Staking Flows increased by 40%. Holding $52 could support recovery, while a breakdown may deepen the correction.
VanEck Head of Digital Assets Research Matthew Sigel believes the next crypto bull market will be driven not by meme coins or speculative trading, but by the convergence of blockchain technology and traditional finance.
• Robinhood Markets stock is under selling pressure. What’s driving HOOD stock lower?
HYPE, HOOD Early LeadersHe added that Hyperliquid is on pace to generate $800 million in annualized revenue while using 99% of protocol revenue to repurchase HYPE tokens, reducing circulating supply.
Despite the crypto downturn, Hyperliquid has climbed roughly 146% this year. Sigel said the token could still double in value while remaining reasonably valued.
Robinhood’s recently launched Layer-2 blockchain is one of the strongest examples of financial convergence. Within two weeks of launch, Robinhood Chain reportedly attracted more than $300 million in deposits while processing roughly 3.6 million daily transactions.
Although much of the early activity involved meme coins rather than equities, he believes the underlying infrastructure has already demonstrated meaningful adoption.
Winners In The Next CycleSigel said crypto is beginning to show signs of forming a market bottom.
Since July 1, Bitcoin has gained roughly 9% while the Nasdaq-100 has declined about 6%, spot ETF flows have turned positive and market sentiment has improved.
The second category includes established financial companies aggressively adopting blockchain infrastructure rather than limiting themselves to pilot programs.
Image: Shutterstock
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
The native token of Hyperliquid, HYPE, remains under the spotlight as its price structure signals continued bullish momentum, even amid short-term volatility. Observers have stated that a major support level could determine whether buyers sustain the rally or if the token will correct lower in the near term. Meanwhile, Hyperliquid’s ecosystem is expanding through the launch of new artificial intelligence (AI)-focused decentralized investment offerings via HYPER EVM.
HYPE technical outlook and support levelsAt press time, HYPE is trading at $57.88. The token registered a 24-hour trading volume of $320.77 million and boasts a market capitalization of $14.62 billion. Despite a 2.33% decline on the day, the price structure has shown resilience, suggesting that bullish continuation is still possible if support levels hold.
Technical analyst Wick assessed that HYPE surged from below $50, reaching the $160 resistance zone. However, this move has placed the token at a local peak, a level where profit-taking and corrective selling could emerge. Wick drew parallels to two earlier market moves and identified a likely demand region between $72 and $100, forming part of a recurring rally-correction-recovery pattern seen before.
Wick highlighted that if buyers defend the $72 to $100 support, HYPE could attract new demand and resume gains aiming for targets between $120 and $150.
Below this support, a breakdown could trigger a deeper correction, with the next significant accumulation area identified around $40.
Support LevelUpside TargetDownside Risk$72-$100$120-$150$40Analysts have noted that the overall direction of the token is currently influenced by the broader cryptocurrency market, which has seen downward pressure as Bitcoin begins to retreat.
Ecosystem growth: New AI investment productsBeyond price movements, the Hyperliquid platform continues to innovate. New decentralized investment products focused on artificial intelligence have recently been deployed through HYPER EVM. This blockchain-based protocol now supports “AI agent tokens,” which are backed by baskets of perpetual futures contracts.
These AI agent tokens give users exposure to select AI-driven cryptocurrencies, diversifying investor portfolios and increasing capital efficiency within the DeFi sector. Market data from PerpGame indicated that these products aim to expand user participation and broaden the platform’s reach.
Participants are now able to engage with AI agent tokens collateralized by baskets of perpetual contracts, gaining structured exposure to this emerging asset class.
Mini dictionary: HYPER EVM is a blockchain environment within the Hyperliquid platform that enables smart contracts and supports the launch of decentralized applications, including AI-based investment products.
Market context and outlookDespite active network development and positive expansion in decentralized finance, HYPE has faced additional downward pressure following a general downturn in the crypto market. Bitcoin’s recent slide has contributed to the cautious sentiment surrounding emerging tokens, including HYPE.
The broader market environment is adding volatility to HYPE’s outlook, and its near-term path will depend on whether traders can defend critical support levels and ride the next wave of buying momentum.
Traders are watching closely to see if HYPE can build on its technical structure and ecosystem growth, or if the correction will deepen toward the next accumulation region.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
Key Takeaways Major institutional players including Multicoin Capital, Selini Capital, and Galaxy Digital have initiated withdrawals totaling approximately $150M in HYPE tokens The token experienced an 8% decline, touching $58 before finding support at $59.19 Pending withdrawals represent nearly 2x the token’s daily spot trading volume of $72.8M Selini Capital’s withdrawal appears connected to the termination of a HIP-3 perpetuals market operated by DreamCash Multicoin’s managing partner Tushar Jain publicly stated the unstaked tokens aren’t intended for immediate sale; withdrawal completion scheduled for July 28 The HYPE token from Hyperliquid experienced a sharp 8% correction from its recent peak this Wednesday following news that three prominent cryptocurrency investment funds have initiated withdrawal processes for approximately $150 million worth of tokens.
Hyperliquid (HYPE) Price The breakdown shows Multicoin Capital controlling $138.78 million in staked HYPE tokens, with approximately $116 million currently pending withdrawal from the staking protocol. Meanwhile, Selini Capital has queued $4.4 million and Galaxy Digital has initiated a $29.4 million HYPE withdrawal request.
On-chain tracking also revealed that a cryptocurrency wallet associated with Multicoin transferred approximately 167,000 HYPE tokens—valued around $11.2 million—to the Coinbase exchange. HYPE’s price momentarily dipped to $57.39 before stabilizing at $59.19, per CoinGecko data. The 24-hour trading activity exceeded $415 million.
Multicoin-linked wallet moves 490K $HYPE (~$29.48M) in 2 days
A wallet likely belonging to Multicoin Capital just moved 93K $HYPE (~$5.48M) to fresh wallets.
New addresses:
• 0xFA2173AD69De51769d75934AcBCF5C2382B1B7F1
• 0x257F1352204A01f59abC5bc60384Bf4c1e5f8B70
This follows… pic.twitter.com/InfWQIXYFF
— Onchain Lens (@OnchainLens) July 23, 2026
Massive Withdrawal Queue Creates Market Imbalance The sheer magnitude of the $150 million withdrawal request represents almost twice the daily spot market activity for HYPE. Data from Block Liquidity indicates that spot market volume reached only $72.8 million during approximately 28 hours preceding Wednesday’s movements. Market participants included 1,463 distinct buyers versus 982 sellers. Wintermute emerged as the dominant net buyer with purchases exceeding $9 million, while the top net seller disposed of $5.2 million worth of tokens.
Over the trailing seven-day period, HYPE has declined approximately 11%, marking it as the weakest performer within the top 10 cryptocurrencies by market capitalization during this timeframe. ETF monitoring platform CoinGlass registered zero inflows on Wednesday, following Tuesday’s $0.7 million outflow. The token’s Futures Open Interest currently stands at $2.5 billion, reflecting a modest 0.5% decrease over 24 hours.
Technical analyst CryptosBatman highlighted on X that HYPE has breached its 50-day moving average following a six-month sustained rally above this threshold. The analyst identified a developing bearish continuation pattern and projected a subsequent price target of $55, derived from the 1.618 Fibonacci extension level—a price point that coincides with an important support zone.
After a 6-month rally above the 50-day MA, $HYPE has broken down from it.
Not just a usual breakdown, but a bearish continuation has formed as well.
The next target based on the 1.618 Fibonacci extension is $55, right at a support level. pic.twitter.com/mhDl4htYSo
— BATMAN ⚡ (@CryptosBatman) July 23, 2026
Understanding the Institutional Exit Strategy Selini Capital’s withdrawal decision appears directly linked to the closure of DreamCash’s HIP-3 CASH perpetuals market. The protocol architecture requires market operators to stake 500,000 HYPE tokens as collateral, which gets returned upon market termination. Market intelligence suggests Selini Capital may liquidate its HYPE holdings through over-the-counter trading desks.
The rationale behind Multicoin’s substantial unstaking remains more ambiguous. The venture firm recently spearheaded a $1.75 million seed funding round for Trasia, an Asian-focused trading infrastructure planning to introduce perpetual contracts for Asian equity markets on the Hyperliquid platform. Managing partner Tushar Jain clarified on X that the unstaked HYPE tokens weren’t earmarked for immediate liquidation.
The critical July 28 unlock deadline will provide definitive answers regarding the ultimate destination of these substantial token positions.
Currently, HYPE trades beneath its 50-day exponential moving average positioned at $62.52. For bullish momentum to return, the token must recapture the $60.72 level and cross back above the 50-day EMA to improve near-term technical sentiment. The Relative Strength Index hovers around 40 while the MACD indicator persists below the zero line, both technical signals suggesting ongoing bearish pressure.
The 200-day EMA at $50.77 continues to hold as a critical long-term support threshold.
A crypto whale has staked 2.93 million $HYPE tokens worth approximately $172 million in a single 24-hour window, according to on-chain analytics firm Lookonchain. The deposits were spread across 19 separate wallets, which analysts believe are controlled by the same holder.
The position was originally accumulated around nine months ago, leaving the whale sitting on an unrealized profit of roughly $44.5 million at current prices.
Why Staking $HYPE Matters The move is notable not just for its size but for what staking actually entails. Hyperliquid uses a delegated proof-of-stake consensus mechanism called HyperBFT, where validators must stake HYPE to participate in consensus and users can delegate their tokens to validators to earn staking rewards while helping secure the network. Stakers earn rewards following a dynamic formula inversely proportional to the square root of total HYPE staked, with rewards accruing every minute and distributed daily with automatic recompounding.
From a supply perspective, the decision to stake rather than sell carries a clear market signal. Staking removes tokens from liquid supply, tightening float, and ties validator economics to the token's price rather than fee revenue alone.
A Pattern of Large-Scale Accumulation This is not an isolated event. On-chain data has shown a consistent pattern of large holders locking up significant positions in recent months. Lookonchain data from June showed that three newly created wallets withdrew a combined 557,406 HYPE from Kraken and staked the tokens, a holding worth about $40.2 million at the time. Separately, Bitwise staked 1.775 million HYPE worth roughly $114 million on Hyperliquid, as reported by Lookonchain, through its Bitwise Hyperliquid ETF, which launched on NYSE Arca in May 2026.
The tokenomics reinforcing these decisions are also notable. Up to 97% of all trading fees generated on the platform are used to buy HYPE from the open market, creating persistent demand pressure that scales with trading volume. HYPE has a fixed maximum supply of 1 billion tokens, and the supply can only decrease over time through burns.
The whale's decision to stake rather than liquidate a position carrying tens of millions in unrealized gains suggests a longer-term conviction on the protocol's trajectory, even as other large holders, including Multicoin Capital, have recently moved to reduce their exposure.
Sources:
Bloomingbit: Hyperliquid Whale Buying Continues as $60 Million in Exchange Withdrawals Emerges
Hyperdash: HYPE Token Tokenomics, Staking and Buybacks
Bitcoin.com: Bitwise Stakes $114 Million in HYPE on Hyperliquid
Three major cryptocurrency investment firms have initiated the withdrawal of approximately $150 million in HYPE tokens from Hyperliquid, prompting an 8% decline in the token’s value and raising questions about market stability as institutional positions unwind.
Major holders move to withdrawHyperliquid, a decentralized exchange known for its derivatives marketplace, saw pronounced activity from key institutional stakeholders including Multicoin Capital, Selini Capital, and Galaxy Digital. Multicoin Capital, a prominent venture firm with significant influence in the digital asset sector, currently controls $138.78 million in staked HYPE tokens and has set in motion the withdrawal of about $116 million from the staking protocol.
Meanwhile, Selini Capital and Galaxy Digital have also joined the exodus, lining up withdrawals of $4.4 million and $29.4 million respectively. On-chain data showed a wallet linked to Multicoin sending around 167,000 HYPE (valued at approximately $11.2 million) to the Coinbase exchange, suggesting possible preparations for a major transaction.
As the news circulated, HYPE’s price tumbled briefly to $57.39 before recovering to $59.19. Over the past 24 hours, trading activity for HYPE surpassed $415 million. However, the amount of pending withdrawals nearly doubles the daily spot trading volume, which stood at $72.8 million within the latest 28-hour window.
FundPending HYPE WithdrawalMulticoin Capital$116 millionGalaxy Digital$29.4 millionSelini Capital$4.4 millionBlock Liquidity recorded 1,463 buyers against 982 sellers during this period, with market maker Wintermute accumulating more than $9 million in net buys. The top net seller offloaded tokens valued at $5.2 million.
Market reaction and trading metricsHYPE has lost roughly 11% over the preceding seven days, underperforming other top ten digital assets by market capitalization in the same period. Data from CoinGlass revealed no inflow into HYPE ETF instruments on Wednesday, following a modest outflow of $0.7 million on Tuesday. Futures Open Interest stands at $2.5 billion, registering a 0.5% decrease in 24 hours.
Technical analyst CryptosBatman identified a key technical shift as HYPE slipped below its 50-day moving average after maintaining strength above this level for six months. The analyst forecast a correction towards $55, which aligns with the 1.618 Fibonacci extension, suggesting a crucial support target as selling pressure mounts.
Markets have observed HYPE break down from its 50-day moving average, forming a bearish continuation pattern. Projections indicate that $55 is the next notable price level to watch, as it coincides with key technical support.
Institutional withdrawal motivationsSelini Capital’s move to withdraw tokens has been connected to the shutdown of DreamCash’s HIP-3 CASH perpetuals market. The protocol’s design mandates that market operators stake 500,000 HYPE tokens as collateral, which are reclaimed when the market closes. Observers believe Selini may offload these tokens using over-the-counter channels.
Multicoin Capital’s unstaking is somewhat less transparent. The firm recently led a $1.75 million seed round for Trasia, an infrastructure project aiming to introduce perpetual contracts for Asian equities on the Hyperliquid platform. Tushar Jain, Multicoin’s managing partner, clarified on X that the tokens being unstaked are not intended for immediate sale, and the withdrawal process will complete on July 28.
Although significant amounts are being withdrawn, these tokens are not planned for immediate sale on the open market, according to Multicoin Capital’s leadership.
The final disposition of these tokens will become clearer after the unlock date. Until then, the market faces continued speculation about potential selling pressure and sentiment shifts.
Technically, HYPE now trades below its 50-day exponential moving average at $62.52. For a bullish reversal, the token must regain levels above $60.72 and reclaim the 50-day EMA to reestablish upward momentum. The Relative Strength Index is hovering near 40, while the MACD indicator remains below zero—both factors indicate persistent bearish sentiment. The 200-day EMA, currently at $50.77, continues to serve as a crucial long-term support.
Mini dictionary: Hyperliquid, a decentralized derivatives exchange, allows users to trade perpetual contracts and offers staking mechanisms for native tokens such as HYPE. Institutional staking refers to large-scale holders securing blockchain networks or supporting market operations while earning rewards.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Key Takeaways Matt Hougan, Bitwise CIO, identifies Hyperliquid and Robinhood as primary catalysts for crypto’s upcoming bull market Hyperliquid has experienced a 146% surge in 2026 with projected annual revenue reaching $800 million Robinhood Chain debuted July 1, attracting $300 million in deposits in just 14 days Bitcoin has climbed 9% throughout July while the Nasdaq-100 declined 6% Demand indicators for Bitcoin are showing renewed positive momentum, according to Bitwise analysis The Chief Investment Officer at Bitwise, Matt Hougan, anticipates a fundamental shift in the next cryptocurrency bull market. Rather than speculative fervor powering price appreciation, he foresees revenue-producing platforms and traditional financial sector integration taking center stage.
Matt Hougan: hyperliquid:native could double and still be fairly valued.
crypto’s next bull market may not be about “crypto vs tradfi”
it may be about crypto becoming the rails for tradfi.
stablecoins, tokenized stocks, 24/7 markets, instant settlement, and DeFi are all… pic.twitter.com/Ee9HLZlgWC
— Hyperliquid Daily (@HYPERDailyTK) July 23, 2026
In a Wednesday market analysis, Hougan outlined his perspective, highlighting two particular drivers: Hyperliquid and Robinhood.
Hyperliquid’s Revenue Generation Captures Industry Attention Originally launching as a cryptocurrency derivatives exchange, Hyperliquid has evolved into a comprehensive Layer 1 blockchain platform. Approximately half of its current trading activity now involves traditional assets including oil futures, silver, and S&P 500 exposure.
In June, the platform achieved a milestone of $1 billion in cumulative revenue and projects roughly $800 million in earnings for the current year. The protocol allocates 99% of these revenues toward HYPE token buybacks, creating deflationary pressure and price support.
This approach has proven effective. HYPE has surged approximately 146% during 2026, substantially outperforming the wider cryptocurrency sector.
Hougan additionally highlighted Uniswap, Aave, and Morpho as protocols adopting comparable revenue-sharing token economics.
Robinhood Chain Brings Crypto Trading to Global Markets Robinhood unveiled its proprietary Layer 2 blockchain network, Robinhood Chain, on July 1. The infrastructure enables users across 120 nations to access tokenized equity trading around the clock.
In its first two weeks, the blockchain attracted more than $300 million in user deposits and facilitated 3.6 million transactions daily. The platform also provides access to decentralized finance protocols such as Uniswap and Morpho.
Hougan acknowledged that initial usage has centered on meme coins rather than tokenized securities, though he anticipates equity trading volume will expand progressively.
Looking beyond Robinhood, Hougan recognized Coinbase and BlackRock as entities with substantial blockchain engagement. He also mentioned Visa, Stripe, and JPMorgan as organizations worth monitoring.
Bitcoin has appreciated 9% since early July, contrasting with a 6% decline in the Nasdaq-100 during the identical timeframe. Hougan interprets this performance gap as an initial indicator of market stabilization.
Bitcoin’s apparent demand indicator, which calculates the differential between freshly mined coins and supply dormant for more than a year, is displaying signs of improvement. Andre Dragosch, Bitwise’s European research director, characterized the movement as “re-accelerating.”
Capital flows into Bitcoin exchange-traded funds have also reversed to positive territory following a stretch of withdrawals, suggesting renewed institutional participation.
Hougan maintained an optimistic outlook overall. “I suspect the coming bull market will be big enough to lift most of the sector,” he stated, expressing confidence in Bitcoin, Ethereum, and Solana.
He acknowledged, however, that increased traditional finance integration introduces additional vulnerabilities, including heightened exposure to macroeconomic disruptions and evolving regulatory frameworks.
Matt Hougan, Chief Investment Officer at Bitwise, expects the upcoming cryptocurrency bull market to be spearheaded by platforms generating real revenue and by deeper integration with traditional finance, rather than solely by speculation. Hougan outlined his views in a recent market analysis, drawing attention to two platforms he believes are pivotal: Hyperliquid and Robinhood.
Hyperliquid expands beyond crypto derivativesHyperliquid, which initially operated as a cryptocurrency derivatives exchange, has evolved into a multifunctional Layer 1 blockchain platform. According to recent data, roughly half of Hyperliquid’s current trading activity now includes exposure to traditional assets such as oil futures, silver, and the S&P 500, marking a significant expansion from digital assets to legacy markets.
In June, Hyperliquid surpassed $1 billion in cumulative revenue and is predicting annual earnings of $800 million for 2026. The platform’s protocol is structured to use 99% of these revenues for HYPE token buybacks, a strategy that has introduced deflationary pressures and strong support for the token’s price.
This mechanism appears to be effective: the value of HYPE has increased by about 146% in 2026, far outpacing many other digital assets during the same period.
Hougan also identified other protocols—namely Uniswap, Aave, and Morpho—as adopting similar models for sharing revenue with token holders.
Mini dictionary: Hyperliquid is a blockchain-based platform that started as a derivatives exchange and has transitioned to a Layer 1 blockchain supporting a range of asset classes, including both digital and traditional financial instruments.
PlatformRevenue Model2026 Revenue/ProjectionKey FeatureHyperliquidToken buybacks$800 million (projected)TradFi and crypto assetsUniswapFee distributionNot specifiedDecentralized exchangeAaveProtocol feesNot specifiedLending platformMorphoYield enhancementNot specifiedDeFi optimizationRobinhood Chain opens global access to tokenized tradingRobinhood, a commission-free trading platform known for popularizing equity trading among retail investors, launched its proprietary Layer 2 blockchain, Robinhood Chain, on July 1. The network supports 24/7 access to tokenized equities and is available to users in 120 countries, bringing traditional stocks to the blockchain sector.
In just 14 days, Robinhood Chain has attracted more than $300 million in user deposits and processed an average of 3.6 million transactions daily. The new blockchain integrates with decentralized finance applications including Uniswap and Morpho, broadening its utility for users.
Although early user activity has largely centered on meme coin trading rather than tokenized equities, Hougan suggested that trading in equities is likely to grow as adoption widens.
Mini dictionary: Robinhood is an American financial services company that provides commission-free trading of stocks, exchange-traded funds, and cryptocurrencies, now expanding into blockchain infrastructure with Robinhood Chain.
Bitcoin sees renewed demand amid institutional interestBeyond these two platforms, Hougan called attention to major institutions such as Coinbase and BlackRock, as well as financial giants including Visa, Stripe, and JPMorgan, who are also increasing their activity within blockchain and digital assets.
Bitcoin has recorded a 9% price rise through July, contrasting with a 6% fall in the Nasdaq-100 over the same period. Hougan interprets this outperformance as a sign of improving sentiment for digital assets.
A key demand indicator for Bitcoin—measuring the difference between newly mined coins and coins held dormant for over a year—is also improving. Andre Dragosch, Bitwise’s European research lead, described this trend as “re-accelerating.”
Recent data shows that fund inflows into Bitcoin exchange-traded funds have turned positive after a period of withdrawals, suggesting renewed interest from professional investors.
Hougan remains optimistic about the sector, projecting that the next bull market will be broad enough to benefit much of the industry, including Bitcoin, Ethereum, and Solana.
Still, he cautioned that closer integration with traditional finance brings additional risks—such as heightened exposure to overall economic trends and shifting regulatory requirements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin hovered near the $65,000 mark on Friday as escalating Middle East tensions weighed on sentiment in the cryptocurrency market, while Ethereum also traded lower.
Bitcoin was trading at $65,345, while Ethereum was at $1,877.
Over the past 24 hours, Bitcoin declined 0.43% and Ethereum fell 2.23%. Among major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin and Cardano dropped by as much as 4.09%, while Tron edged up 0.05%.
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Nischal Shetty, founder of WazirX, said that Bitcoin remained under pressure as geopolitical tensions in the Middle East dampened investor sentiment, prompting a shift toward safer assets. Ethereum also weakened, with traders closely monitoring institutional positioning and broader market uncertainty.
“Bitcoin's daily technical indicators remain neutral, with immediate support around $64,200–$64,500, while Futures traders are watching whether BTC can sustain a move back toward $66,000. For Ethereum traders, $1,840–$1,860 remains the key support zone, while $1,900 is the next major resistance,” Shetty further said.
The global crypto market capitalisation went down 0.7% to $2.22 trillion, according to CoinMarketCap.
Akshat Siddhant, Lead quant analyst, Mudrex said fresh attacks in the Middle East have pushed crude oil above $90 a barrel, while driving US bond yields to their highest levels in 18 months, weighing on risk assets.
Despite the weakness in price, US spot Bitcoin ETFs extended their inflow streak to seven consecutive sessions, attracting nearly $1 billion in total, Siddhant further said.
In the past week, Bitcoin and Ethereum were up 2.98% and 1.58% respectively. Among the major altcoins, BNB, Hyperliquid, and Dogecoin corrected upto 4.17% whereas XRP, Solana, Tron, and Cardano gained upto 4.47%.
Crypto markets are also facing pressure from tighter financial conditions. Bitcoin remains relatively stronger than Ethereum and major altcoins, with its four-hour structure constructive above $65,000, said Riya Sehgal, Research Analyst, Delta Exchange.
Here is what other analyst say
Vikram Subburaj, CEO, Giottus: Institutional demand has improved materially. US spot Bitcoin ETFs recorded approximately $999.3 million in inflows across seven consecutive positive sessions from July 14 to July 22. These inflows more than offset the $424.7 million outflow recorded on July 13. July 23 showed a preliminary $22.6 million outflow, although BlackRock’s IBIT figure remained unavailable.
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Avinash Shekhar, Co-Founder & CEO, Pi42: The latest correction across the crypto market reflects how quickly global geopolitical developments can influence investor sentiment across asset classes. Bitcoin’s pullback towards the mid $64,000 range, alongside weakness in Ethereum and other leading digital assets, comes amid heightened uncertainty following the escalation in the Iran conflict and a broader shift away from high-growth assets.
CoinSwitch Markets Desk: The July recovery could lose momentum if BTC fails to reclaim $65K, with the 21-day moving average near $64K acting as key support and $68K as the next major resistance. Investors may prefer disciplined positioning, limited leverage and gradual accumulation near support rather than chasing short-term rebounds.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH) Ethereum moved higher by 3% this week as buyers gained control of the price action since late June. This relief rally started once the support at $1,500 was tested and held.
At the time of this post, ETH is facing some resistance as the price approaches the key psychological level at $2,000. It is likely to bring back sellers and could send the price into a pullback.
Looking ahead, the cryptocurrency remains in a macro downtrend. While this rally is a positive change, sustaining it beyond $2,000 seems a big ask right now. Only if $2,000 turns into support does ETH have a good shot at breaking the prevailing downtrend.
Source: TradingView Ripple (XRP) XRP also managed to book a 3% gain this week as buyers have kept the price well above the key support at $1. The current resistance is at $1.2, and until it is broken, it is unlikely this cryptocurrency can make sustained gains.
With volume declining steadily month-over-month, XRP currently lacks the momentum for a major breakout. Market participants seem to have retreated since the drop in February and have not returned to date.
Looking ahead, the current consolidation above $1 is a positive development. However, it can equally be a pause taken by sellers before they attempt another go at the key support.
Source: TradingView Cardano (ADA) ADA had a positive week, closing 6% higher. This comes after the price made a head and shoulders reversal pattern with the key support around $0.15. As long as that level holds, buyers have the advantage.
Nevertheless, Cardano still has to make clear higher lows and higher highs before we can be confident in a reversal and end to the current macro downtrend. For that to happen, the price will have to move beyond $0.25.
Looking ahead, the weekly momentum indicators such as the MACD are giving a bullish bias. This is a promising sign that sellers could be exhausted here, which may allow buyers to take back control for a longer period.
Source: TradingView Binance Coin (BNB) Binance Coin looks weak throughout the past seven days and made no gains. The price still needs to break the resistance at $580, which has kept buyers in check over the past month. Without a clear breakout, BNB is forced to move sideways or even seek lower levels to find buyers.
The price also saw decreased volatility and volume. This could also be related to the recent regulatory changes that forced EU users to find a new exchange. That is bearish for the BNB price as it lowers demand for the token.
Looking ahead, this cryptocurrency is found in a downtrend with no signs that this will end any time soon. As such, watch the support at $500, which could be tested in the future before buyers return.
Source: TradingView Hype (HYPE) Surprisingly, HYPE was flat this week and lost 5% of its valuation in the past month. This highlights that the uptrend may be over. The price is also under $60 at the time of this post, which is concerning since it may encourage sellers to push even lower.
If this cryptocurrency loses its macro uptrend, then a larger and more significant correction could follow. Right now, the longer the price sits under $60, the higher the chance that HYPE will fall much lower. Key support levels are found at $56 and $52.
Looking ahead, HYPE had a fantastic rally in the first half of 2026, and it seems the second part of the year could end up in a major correction. That may see HYPE revisit previous levels under $50. If so, this can also be a key buying opportunity.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
US Democratic Senator slams ethics provisions of Republican CLARITY Act, calling the draft "not in good faith"
According to Politico, U.S. Democratic Senator Ruben Gallego has criticized the ethics provisions of the Digital Asset Market Clarity Act (CLARITY Act) recently tabled by Senate Republicans, dismissing the draft as "not a serious effort." This Wednesday, Senate Republicans unveiled the CLARITY Act draft, which includes digital asset ethics restrictions that would ban all U.S. federal officials—including former President Donald Trump—from issuing or supporting any digital assets. Democrats argue the ethics provisions are insufficiently robust. Gallego said he will collaborate with Republican Senator Thom Tillis and others to put forward a new counter-proposal. "We are still in this fight and will submit new provisions," Gallego stated. Republicans, for their part, counter that the relevant ethics rules are already strict enough. Senator Bernie Moreno claimed the draft contains "the strongest ethics provisions in U.S. history." The CLARITY Act is designed to clarify the regulatory framework for the U.S. digital asset market, but its provisions addressing conflicts of interest between government officials and crypto assets have emerged as the main point of contention in bipartisan negotiations.
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The first purchase was made at a price 55% higher than the current market level; the largest loss holder of SK Hynix has held the losing position for 28 days.
According to Hyperinsight monitoring, the whale address starting with 0x511 is still holding onto its high SK Hynix (SKHX) long positions. The address currently holds 4,034 SKHX longs with 3x full leverage, at an average entry price of $1,622.6, with a position value of roughly $4.942 million and a liquidation price of $923.67. Its unrealized loss stands at $1.6034 million (-73.5%), making it the address with the largest unrealized loss on SKHX. This long position was opened on the early morning of June 26 (Beijing time), and has been held for 28 days. At the time, SKHX was trading around $1,900. The whale’s first entry was 325.5 contracts at an average price of $1,898.5, which is now 55.1% higher than the current price. As the price trended downward, it added to its position four more times at approximately $1,659, $1,678, $1,436, and $1,361, respectively. After its final position increase on July 15, the holding has not been adjusted since. Holding the position has been a constant financial drain: since opening the long, the whale has paid a net funding fee of about $198,200. The current hourly funding rate is around +0.00955%, with longs still paying, leading to an estimated hourly outflow of roughly $472 based on the existing position. Looking at its track record, this is a trader known for patience: all of its previous large trades were long-held US stock-linked longs—Micron for ~45 days, Marvell for ~29 days, and Cerebras for ~39 days, generating a total net profit of around $494,500. That same patience was once its profit source, but it has now dug the whale deeper into a losing position on SK Hynix... Data shows that SK Hynix (SKHX) on Hyperliquid hit a daily high of $1,302.8 before quickly falling to $1,214.3, marking a 6.8% intraday pullback.
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BitMEX accelerates the delisting of 65 trading pairs in July, as liquidity pressure intensifies ahead of the platform's closure.
Crypto trading platform BitMEX has accelerated the delisting of derivative contracts and trading pairs in July, removing a total of 65 trading products—far exceeding the 19 delistings recorded in the first six months of this year. Data from BitMEX’s website shows that at the start of July, the platform delisted 21 derivative contracts, and two weeks later, it removed 9 spot trading pairs due to insufficient trading interest. This Thursday, BitMEX announced another delisting of 35 derivative contracts, pushing July’s total delistings to 65. BitMEX stated that the adjustment is mainly attributed to "insufficient trading interest" in the relevant contracts and the exchange’s shutdown plan. Earlier, BitMEX announced it would cease all exchange services at 4:00 UTC on September 23, 2026. The platform noted the shutdown decision followed a "strategic review" of its business and the broader crypto industry, though it did not disclose specific reasons. Industry insiders believe BitMEX’s exit reflects structural pressures facing mid-sized centralized exchanges, including factors such as further concentration of market liquidity in top-tier platforms and rising regulatory compliance costs.
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Binance adds ACX, LSK, STX to its monitored token list, tagging them as highly volatile and high-risk assets.
Binance announced in an official statement that starting July 24, 2026, it will add Across Protocol (ACX), Lisk (LSK), and Stacks (STX) to its "Monitoring Tag" list. Binance noted that tokens with the monitoring tag have higher volatility and risk compared to other listed assets, and the platform will closely monitor the relevant projects and conduct regular reviews. Such tokens face the risk of failing to meet Binance's listing standards and potentially being delisted in the future. Binance added that factors including the project team's level of commitment, quality of development activities, trading volume and liquidity, network security, smart contract stability, information disclosure status, changes to token economic models, and presence of any improper conduct will all be included in subsequent assessments. Binance stated that other services related to ACX, LSK, and STX will not be affected for the time being, and the monitoring tag will be updated after the announcement is released.
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Sources familiar with the matter: The Bank of Japan is likely to maintain its policy guidance and commit to continuing interest rate hikes.
According to sources, the Bank of Japan (BOJ) is shifting its focus to whether companies will pass rising cost pressures on to households, and will continue to warn at next week’s policy meeting that inflation could stay above the 2% target for a prolonged period. Sources said the BOJ is expected to signal that the risk of short-term inflationary shocks triggered by rising oil prices has eased since April, though overall price pressures remain a concern. Additionally, the BOJ is likely to maintain its current policy guidance of continuing its interest rate hike path. Markets expect the BOJ to determine the pace of future monetary policy adjustments based on wage growth, service prices, and corporate pricing behavior.
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South Korea's KOSPI index saw its decline widen to 5.61%, with Samsung falling more than 6%.
According to Bitget's market data, South Korea's KOSPI index has extended its decline to 5.61%, Samsung fell more than 6%, and SK Hynix dropped 5.52%.
New U.S. tariff policies, coupled with the worsening situation in Iran, have pushed up international oil prices, while tech stock pullbacks have weighed on U.S. stock indexes, dragging them lower.
At 12:01 a.m. ET on Friday (12:00 p.m. Beijing time on the 24th), the U.S. will roll out a new set of import tariff arrangements, with rates ranging from 10% to 12.5%, covering approximately 60 economies. Separately, Trump said he is "seriously considering" resuming large-scale military operations against Iran and is nearing a decision. "Iran wants negotiations, but it is not ready yet; it has not suffered enough pain," he stated. The U.S. will hold Iran responsible if Houthi forces attack ships again, and has deployed B-1 bombers, escalating tensions with Iran. According to market data from BIT (bit.com), U.S. stocks closed lower on Thursday: the Dow Jones Industrial Average fell 0.97%, the S&P 500 dropped 1.2%, and the Nasdaq slid 2.15%. Micron Technology (MU.O) rose 3%, SK Hynix (SKHY.O) gained 2.5%, Google (GOOG.O) plunged 7%, Tesla (TSLA.O) slumped 14.5%, and SpaceX (SPCX.O) climbed more than 2%. According to HTX market data, Bitcoin is currently trading at $65,190, down 1.05% in the past 24 hours. International oil prices rose sharply on the 23rd. As of the close of trading that day, September-delivery light crude oil futures on the New York Mercantile Exchange rose $5.36 to settle at $92.19 per barrel, a 6.17% increase; September-delivery Brent crude oil futures in London gained $6.62, marking their first close above $100 per barrel since May, settling at $100.69 per barrel, a 7.04% rise.
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South Korea plans to bring forward the increase in minimum cash margin requirements for single-stock leveraged ETFs.
South Korea’s financial regulators are studying a plan to bring forward the implementation of the minimum margin requirement hike for single-stock leveraged ETFs—originally scheduled to take effect next month—to the end of this month. The move is seen as a response to South Korean President Lee Jae-myung’s call for the rapid rollout of supplementary measures for single-stock leveraged ETFs. The Korea Financial Investment Association (KOFIA) held a working-level meeting on the 21st with IT staff from securities firms, South Korean trading platforms, and related institutions including Korea Securities Computing Corp. (Koscom) to discuss the implementation of the single-stock leveraged ETF framework. It is understood that financial regulators are considering pushing the minimum margin hike plan, initially set for early next month, to the end of this month. However, the regulators will make the final decision on the specific implementation timeline and applicable rules.
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Intel's CFO: Intel plans to significantly increase capital expenditure in 2027.
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The United States has imposed additional tariffs ranging from 10% to 12.5% on 60 economies, with the measures taking effect today.
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Hyperliquid, a decentralized perpetual futures exchange, has seen its open interest reach a significant high of $11.5 billion, according to a report from Delphi Digital. This increase reflects a notable rise in the total value of outstanding derivatives on the platform, with much of the activity centered around the HIP-3 market framework and S&P 500 perpetuals. The surge in open interest suggests growing participation in tokenized traditional-asset markets, indicating an expanding interest in real-world asset exposure on the platform. The current level marks the highest since the October 2025 market downturn, highlighting a robust recovery.
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Key Takeaways Hyperliquid’s surge to $11.5 billion in open interest appears to suggest increased platform usage and interest in traditional-asset markets. Current activity is heavily tied to the HIP-3 framework and S&P 500 perpetuals, indicating a shift towards non-crypto exposure. The open-interest high reflects a significant recovery since the October 2025 crash, indicating a robust return of market confidence. What to Watch Market participants will be observing whether Hyperliquid can maintain or exceed this open-interest level in the coming months. Developments such as partnerships with major financial institutions or technological advancements could be consistent with increased YES outcomes on price prediction markets. Conversely, any regulatory challenges or security issues could disrupt this upward trajectory. Monitoring the market’s response to these factors will be crucial in understanding Hyperliquid’s future dynamics.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 20% — — View market → January 1 2027 6.2% — — View market → January 1 2027 2.6% — — View market → January 1 2027 50.5% — — View market → January 1 2027 9% — — View market → January 1 2027 3.6% — — View market →
Bitcoin is showing signs of recovery, but this time, it is not a speculative bubble. Hyperliquid and Robinhood are accelerating the convergence between traditional finance and crypto, and BTC is the first beneficiary, according to Bitwise. A revolution is underway…
In brief Bitcoin benefits from the convergence between crypto and traditional finance, driven by players like Hyperliquid and Robinhood. Hyperliquid and Robinhood boost the market with innovations (perpetual derivatives, tokenized stocks 24/7). Opportunities and risks: Bitcoin becomes an institutional asset, but volatility and regulatory challenges persist. The winning Trio of the Upcoming Bull Run is Bitcoin, Hyperliquid, and Robinhood Bitcoin is back, and this time, it is not alone. According to Matt Hougan from Bitwise, the next bull market will be driven by the massive integration of crypto into traditional finance, with BTC at the forefront. But two key players will play a decisive role: Hyperliquid and Robinhood.
Hyperliquid, with its perpetual derivatives market, has extended its influence to traditional assets (oil, S&P 500), while maintaining strong demand for bitcoin. Its token, HYPE, jumped 146% in 2026, thanks to a model where 99% of revenues are used to buy back and burn tokens, reducing supply and supporting the price. A dynamic that indirectly benefits Bitcoin, as it strengthens the credibility of crypto assets.
Meanwhile, Robinhood launched its own blockchain (Layer 2) on July 1, 2026, enabling 24/7 trading of tokenized stocks in 120 countries. Within two weeks, $300 million was deposited. An adoption that legitimizes bitcoin as a central asset in this new financial era. In short, bitcoin is the symbol of this convergence, and Hyperliquid and Robinhood are its catalysts.
Is Bitcoin the Gauge of an Impending Revolution? While Hyperliquid and Robinhood embody innovation, bitcoin remains the market barometer. Since July 2026, its price has risen 9%, despite the Nasdaq-100 falling 6%. Moreover, Bitcoin ETF flows have turned positive again, and apparent demand follows an upward trend.
Apparent demand for Bitcoin. However, bitcoin is no longer just a store of value. It is becoming an institutional asset, adopted by major managers and recognized by regulators… But volatility persists. Bitcoin is therefore at the heart of this mutation, where crypto moves from a niche market to a pillar of global finance. But beware. Although the convergence with traditional finance is an opportunity, it also exposes BTC to new systemic risks.
Bitcoin, Hyperliquid, and Robinhood are redefining finance according to Bitwise. A historic opportunity looms, but the challenges are immense. And you, do you think that besides BTC, another crypto asset can become the safe haven of this new era?
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Matt Hougan, Chief Investment Officer at Bitwise, has shifted focus toward specific investment categories poised to capitalize on the anticipated next wave of cryptocurrency growth. With signs of market stabilization emerging—such as Bitcoin’s recent gains amid broader equity weakness and renewed ETF inflows—Hougan urges investors to look beyond traditional narratives and target areas where blockchain technology is merging with traditional finance.
Hougan outlines two primary pathways for the upcoming cycle. The first, often referred to as the “Hyperliquid approach,” centers on decentralized financial applications that deliver substantial real-world revenues and feature token models tightly aligned with platform performance.
These projects stand out by expanding derivatives trading into traditional asset classes, including commodities, equity indices, and pre-IPO shares, while operating around the clock with near-instant settlement.
Hyperliquid exemplifies this model.
The platform recently crossed $1 billion in cumulative revenue and projects roughly $800 million for the current year.
Notably, nearly all of its fee income—about 99%—funds open-market repurchases of its native token, creating a direct mechanism that rewards holders as activity grows.
This structure contrasts sharply with earlier decentralized apps that prioritized user acquisition over sustainable value accrual.
Hougan anticipates similar mechanics becoming more widespread, positioning such protocols as leaders in the fusion of on-chain efficiency and institutional-grade trading tools like stablecoins, asset tokenization, and DeFi for professional users.
The second pathway, dubbed the “Robinhood model,” highlights established financial firms aggressively integrating blockchain infrastructure into their core operations rather than pursuing limited experiments.
These companies leverage their user bases and regulatory familiarity to scale tokenized assets and decentralized services.
Robinhood’s recent rollout of its dedicated Layer 2 blockchain serves as a prime illustration.
Launched on July 1, the chain quickly amassed over $300 million in deposits and handled millions of daily transactions within its first couple of weeks.
By enabling features such as tokenized stocks and perpetual markets, it demonstrates how traditional brokers can bridge retail investors with blockchain capabilities, fostering 24/7 access and reducing friction in settlement processes.
Hougan notes that entities committing at this scale gain invaluable operational insights as markets evolve, outpacing cautious peers stuck in proof-of-concept phases.
This dual emphasis reflects broader expectations for the crypto sector’s maturation.
As on-chain and legacy finance converge, drivers like continuous trading, tokenized real-world assets, and institutional DeFi could fuel outsized returns.
While market recovery remains tentative, improving sentiment suggests preparation for leadership from these innovative hybrids.
Hougan’s outlook underscores a shift from hype-driven cycles to those grounded in tangible utility and revenue generation. Investors may benefit from monitoring projects and firms embodying these traits, as they could define the contours of the next significant expansion phase in digital assets.
A large Ethereum short on Hyperliquid is giving the market another glimpse of how serious capital is starting to use decentralized derivatives venues, not just centralized exchanges and OTC desks.
The position, tracked through the Hyperliquid explorer at wallet address `0x7fdafde5cfb5465924316eced2d3715494c517d1`, is sized at roughly $67 million against ETH. The wallet is labelled on-chain as “BobbyBigSize” and has been linked to quantitative institutional asset manager Fasanara Capital.
That sounds dramatic, and in some ways it is, but the important point is not simply that a large trader is short ETH. Large funds short assets all the time, and a short position does not automatically mean a trader is bearish in a simple, headline-friendly way.
The more interesting part is where the trade is happening.
Hyperliquid has become one of the most closely watched decentralized perpetuals exchanges in the market, and a position of this scale shows that on-chain derivatives venues are no longer only playgrounds for retail traders chasing leverage. They are becoming deep enough, and visible enough, for institutional-style positioning to show up in public.
TL;DR A Hyperliquid wallet linked to institutional trading activity is carrying a roughly $67 million ETH short. The position is visible through Hyperliquid’s on-chain explorer. The trade should not be read as simple ETH doom, because institutional shorts can be part of hedged or market-neutral strategies. A Big ETH Short Does Not Always Mean A Bearish Bet The instinctive read is obvious: large ETH short equals bearish Ethereum signal.
But that is too simple.
An institutional trader can short ETH for many reasons. It may be a directional bet, but it may also be a hedge against spot holdings, an offset against options exposure, part of a basis trade, or one leg of a broader market-neutral strategy. Funds that run quantitative books often care less about “ETH up or down” and more about relative pricing, funding rates, liquidity, volatility, and the relationship between spot and perpetual markets.
That is why this position needs to be handled carefully.
A $67 million short is large enough to watch, but it does not tell us the full book. We do not know, just from the short alone, whether the trader has long ETH somewhere else, whether they are hedging collateral, or whether they are running a spread trade across venues.
That is the difference between on-chain transparency and complete transparency. The position is visible, but the entire strategy is not.
Hyperliquid Is Becoming Harder To Ignore The venue is almost as important as the trade.
Hyperliquid has grown quickly because it offers a trading experience that feels closer to a high-performance centralized exchange than many earlier DeFi derivatives platforms. Fast execution, deepening liquidity, and a familiar perpetuals interface have helped it attract traders who may not normally spend much time on-chain.
That creates a different kind of market.
In earlier DeFi cycles, large traders often used decentralized venues for yield, liquidity mining, or niche token access, while serious derivatives flow remained mostly centralized. Hyperliquid has challenged that split. If large, professional traders can execute meaningful size on-chain, decentralized exchanges start to compete for a more valuable part of the market.
And because positions are visible, the market gets a new kind of signal.
Centralized exchange positioning is often inferred through funding rates, open interest, liquidation data, and exchange-reported metrics. On-chain perpetuals can expose wallet-level behavior more directly, although attribution still needs caution.
That visibility can make big trades feel more dramatic, but it also gives analysts more to work with.
ETH Traders Will Watch Funding And Liquidation Levels The short itself may become a reference point for ETH traders.
When a large position is visible, market participants often begin watching potential liquidation levels, funding changes, and whether the trader adds or reduces exposure. That can create its own feedback loop, especially if the position becomes part of the social trading conversation.
Still, it would be a mistake to assume the market can simply “hunt” a large institutional short.
Professional traders usually manage collateral, hedges, and risk carefully. If this position is part of a broader strategy, the visible short may only be one side of the trade. Trying to read it as a single vulnerable bet could lead to bad conclusions.
What matters more is that Ethereum derivatives activity is increasingly moving into venues where the market can observe it in real time.
That is a structural shift.
On-Chain Derivatives Are Growing Up Crypto has spent years arguing that finance will move on-chain, but derivatives have always been one of the hardest areas to migrate.
They require deep liquidity, strong risk engines, fast matching, reliable oracles, collateral management, and trader confidence. A venue can be decentralized in branding, but if it cannot handle size, serious traders will not use it.
Hyperliquid’s growth suggests that gap is narrowing.
The $67 million ETH short does not prove decentralized perpetuals have won, and it certainly does not prove Ethereum is about to fall. But it does show that institutional-style trades can now appear on-chain in a way that would have looked unlikely a few years ago.
That is the larger story.
The market is not just watching ETH price. It is watching where ETH risk is being traded.
If more large funds become comfortable using on-chain derivatives venues, the structure of crypto trading could keep shifting away from centralized exchanges alone and toward a more open, visible, and wallet-level market.
That may be uncomfortable at times, especially when large positions become public. But it is also exactly what on-chain finance was supposed to make possible.
This article is based on Hyperliquid explorer data for the relevant Ethereum short position.
This article was written by the News Desk and edited by Samuel Rae.
Goldman Sachs CEO publicly supports the CLARITY Act, diverging from his banking peers on stablecoin yield provisions.
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Abraxas Capital deposits 2,211 $BTC to Kraken and 30,825 $ETH to Binance
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The US stock market's optical communication sector rose across the board, with Lumentum and AAOI gaining more than 7%.
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LayerZero announced a partnership with Keeta, and will support cross-public-chain transfers of tokenized commercial bank deposits.
LayerZero announced a partnership with Keeta to support the transfer of tokenized commercial bank deposits across public blockchains including Keeta Network, Ethereum, Solana, and Base, providing institutional cross-chain settlement infrastructure. The two parties will combine LayerZero’s omnichain interoperability protocol with Keeta’s compliance infrastructure to enable institutions to conduct fund management and payment operations. The newly launched Keeta Stablecoins are backed by commercial bank deposits held by U.S.-licensed fintech platform Bivo. Unlike traditional stablecoins, they are pegged to actual commercial bank deposits and allow issuing institutions to retain control over contracts via LayerZero’s Omnichain Fungible Token (OFT) standard. Keeta Stablecoins will launch later this month, initially supporting the U.S. dollar, with plans to expand to additional fiat currencies including the euro, Japanese yen, Chinese yuan, British pound, Canadian dollar, Mexican peso, UAE dirham, and Hong Kong dollar.
Goldman Sachs CEO publicly supports the CLARITY Act, diverging from his banking peers on stablecoin yield provisions.
Goldman Sachs CEO David Solomon has explicitly voiced support for advancing the CLARITY Act in an interview, while acknowledging the legislation is not perfect. "Like all legislation, the CLARITY Act has many areas open to debate and discussion, but I think one of the most important things it does is create a level playing field to enhance market stability and enable these markets to develop properly. I strongly support advancing the CLARITY Act so that we can establish market structures and kickstart the innovation process." Solomon’s endorsement comes as Republican senators are discussing an updated version of the bill, with a possible full Senate vote next week, marking another step forward for the long-awaited crypto market structure legislation. His supportive stance stands in sharp contrast to fierce opposition from fellow banking executives including JPMorgan Chase CEO Jamie Dimon. Dimon said in May that the latest bill version "allows them to effectively pay interest on things like deposits and stablecoins without necessary protections," warning "banks will not accept this approach, and it will eventually blow up." JPMorgan also argued in a June blog post that companies offering products with functions similar to traditional bank accounts should be subject to equivalent regulation and consumer protection rules. The core of the controversy revolves around the stablecoin interest provisions.
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LayerZero announced a partnership with Keeta, and will support cross-public-chain transfers of tokenized commercial bank deposits.
LayerZero announced a partnership with Keeta to support the transfer of tokenized commercial bank deposits across public blockchains including Keeta Network, Ethereum, Solana, and Base, providing institutional cross-chain settlement infrastructure. The two parties will combine LayerZero’s omnichain interoperability protocol with Keeta’s compliance infrastructure to enable institutions to conduct fund management and payment operations. The newly launched Keeta Stablecoins are backed by commercial bank deposits held by U.S.-licensed fintech platform Bivo. Unlike traditional stablecoins, they are pegged to actual commercial bank deposits and allow issuing institutions to retain control over contracts via LayerZero’s Omnichain Fungible Token (OFT) standard. Keeta Stablecoins will launch later this month, initially supporting the U.S. dollar, with plans to expand to additional fiat currencies including the euro, Japanese yen, Chinese yuan, British pound, Canadian dollar, Mexican peso, UAE dirham, and Hong Kong dollar.
Key Takeaways The HYPE token experienced a 7% decline within 24 hours and has fallen 15% across the last week, hovering near $58. Investment firm Multicoin Capital withdrew 1.96 million HYPE tokens (approximately $120M) from staking through three separate wallets, weeks after releasing an optimistic $319 price forecast. Selini Capital followed suit by unstaking around 504,000 HYPE tokens (~$31M), contributing to market uncertainty. Spot HYPE exchange-traded funds experienced multiple days of net withdrawals throughout July, including a peak single-day outflow of 90,580 HYPE on July 17. Technical analysis suggests a breach of the $54–$55 support range could drive HYPE down to $48, whereas maintaining this level may enable a bounce to $63–$67. The Hyperliquid (HYPE) token has encountered significant downward pressure throughout the current week, declining from a recent peak of $70 to approximately $58. The cryptocurrency has shed around 15% of its value during the past week, including a sharp 7% decrease over the most recent 24-hour period.
Hyperliquid (HYPE) Price Notwithstanding this recent pullback, HYPE maintains an impressive 129% gain year-to-date for 2026, positioning it among the top-performing digital assets of the year.
The current price decline appears connected to several substantial unstaking transactions executed by well-known cryptocurrency venture capital entities. Blockchain analytics platform Lookonchain identified that Multicoin Capital moved nearly 400,000 HYPE tokens to Coinbase Prime while simultaneously initiating an unstaking request for another 212,000 tokens.
Additional blockchain intelligence reveals that Multicoin withdrew a combined 1.96 million HYPE from staking positions across three different wallets, representing roughly $120 million in value. These holdings had remained locked in staking for close to two months prior to their withdrawal.
The sequence of events sparked discussion within cryptocurrency circles. Approximately one month before initiating the unstaking process, Multicoin released an extensive research report expressing strong confidence in HYPE with a projected long-term valuation of $319. Blockchain records indicate Multicoin initially acquired HYPE tokens at approximately $30 each, suggesting a complete liquidation at present market rates would generate around $18.5 million in total gains.
Selini Capital Also Withdraws Significant Stake Investment firm Selini Capital similarly unstaked roughly 504,000 HYPE tokens, representing approximately $31 million in market value. Combined, these two institutional players have withdrawn more than $150 million worth of staked HYPE tokens from the network.
While unstaking tokens doesn’t necessarily indicate immediate liquidation plans, it does enable unrestricted token movement. Transferring assets to centralized exchanges such as Coinbase is commonly interpreted as preparatory action for potential selling.
Cryptocurrency research account Coin Bureau highlighted on X that Hyperliquid’s open interest reached a fresh 2026 peak of $11.5 billion — representing the highest recorded level since the notable “10/10 crash” event. This data indicates robust trading activity persists despite declining spot market prices.
Institutional Demand Weakens Through ETF Withdrawals Traditional institutional participation has shown signs of cooling. Spot HYPE ETFs registered a combined net withdrawal of 11,210 HYPE on July 21. The most significant single-day withdrawal during July occurred on the 17th, when institutional investors removed 90,580 HYPE tokens from fund holdings.
From a chart perspective, HYPE has broken beneath the support boundary of a symmetrical triangle formation that had contained price action for multiple weeks. The Relative Strength Index has declined to 40, while the Chaikin Money Flow indicator has shifted into negative territory, both signaling diminishing bullish momentum.
Source: TradingView Critical support is established within the $54 to $55 range. Should buyers successfully protect this zone, market analysts anticipate a potential rebound toward $63, followed by resistance at $67–$70. Conversely, a confirmed close beneath this support area could trigger further downside movement toward $48.
Current market data shows HYPE trading at $58, with market participants closely monitoring the $54–$55 support threshold through upcoming sessions.
The Hyperliquid (HYPE) token saw a notable decline this week, dropping from a recent high of $70 to around $58. Over the past seven days, HYPE has fallen by 15%, including a 7% decrease within the last 24 hours, prompting concerns about growing selling pressure among investors.
Major withdrawals by Multicoin CapitalA sequence of large-scale unstaking transactions by prominent investment firms has contributed to this downturn. Lookonchain, a blockchain analytics provider, reported that Multicoin Capital transferred nearly 400,000 HYPE tokens to Coinbase Prime, along with an additional 212,000 tokens requested for unstaking. In total, Multicoin moved approximately 1.96 million HYPE tokens—valued at about $120 million—across three different wallets after keeping these funds staked for nearly two months.
Multicoin Capital, a venture capital firm specializing in cryptocurrency and blockchain investments, had bought these tokens at around $30 each. Their recent moves came only weeks after the company published a bullish research report predicting a long-term HYPE price target of $319.
Multicoin Capital had initially acquired significant HYPE holdings at about $30 apiece and, should it exit now, could realize total profits of roughly $18.5 million, based on current market rates.
Approximately a month before these withdrawals, Multicoin Capital released a report outlining its positive outlook on HYPE, reinforcing the impact of its recent actions on market sentiment.
Mini dictionary: Multicoin Capital is a crypto-focused venture capital firm. It manages funds and invests in early-stage blockchain projects, with a significant presence in the decentralized finance and web3 sectors.
Selini Capital joins large-scale unstakingSelini Capital, another significant player in digital asset investments, also removed its stake, pulling out approximately 504,000 HYPE tokens worth around $31 million. Whether these tokens will be sold or simply repositioned remains uncertain, but such moves often indicate a strategic shift or preparation for potential selling.
Combined withdrawals from Multicoin and Selini Capital exceed $150 million in HYPE tokens and have fueled speculation within the wider crypto market about possible further downside.
Transferring recently unstaked tokens to centralized exchanges like Coinbase typically signals the potential for near-term selling, particularly when large investment firms are involved.
Alongside these developments, Coin Bureau, an independent cryptocurrency research resource, noted that Hyperliquid’s open interest set a new 2026 high at $11.5 billion—its highest since last year’s “10/10 crash”—reflecting vigorous derivatives trading activity even as spot prices soften.
Mini dictionary: Selini Capital is a digital assets investment firm that participates in trading, staking, and early-stage funding of blockchain projects, focusing on institutional strategies.
ETF outflows and technical outlookInstitutional sentiment toward HYPE has shifted, as spot HYPE ETFs recorded consistent outflows throughout July. On July 21, net withdrawals amounted to 11,210 tokens, while July 17 registered the highest single-day exit this month with 90,580 tokens redeemed from funds.
DateHYPE ETF Net WithdrawalJuly 1790,580 tokensJuly 2111,210 tokensTechnical analysis shows that HYPE has broken below the support range formed by a symmetrical triangle pattern. The Relative Strength Index, now at 40, and a negative Chaikin Money Flow highlight fading bullish momentum and investor caution.
A key support area has formed between $54 and $55. Analysts believe that defending this level could allow prices to rebound toward $63 and potentially challenge resistances up to $70. However, losing this support would expose HYPE to the risk of sliding toward $48.
At present, HYPE is trading around $58, with traders closely observing its performance near the $54–$55 technical threshold in the upcoming sessions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin and the broader cryptocurrency market continue to feel the effects of the extensive liquidation cascade that occurred on October 10 last year. Market capitalization across the sector remains approximately 45% lower compared to the period leading up to that event. Amid this backdrop, decentralized derivatives platform Hyperliquid has seen its native token, HYPE, surge by about 34% during the same timeframe, exceeding the broader market’s performance. Hyperliquid’s total open interest recently reached $11.51 billion, marking its highest level this year since the October crash when Bitcoin was trading near $100,000.
Hyperliquid’s growth diverges from the marketAs Bitcoin trades around $65,000, new data from Coinglass indicates that aggregate open interest in crypto futures markets stands at $116.66 billion. This figure reflects a decrease of 47% from the October 10 benchmark. Despite the market’s ongoing recovery, Hyperliquid’s metrics show strong growth, suggesting the platform is carving out a larger role in a challenging environment for digital assets.
Hyperliquid operates as a decentralized perpetuals exchange, allowing users to trade derivative contracts without central intermediaries. Its recent performance contrasts with the more modest rebound observed among leading centralized exchanges (CEXs), highlighting a shift in trader activity toward decentralized alternatives.
Date/PeriodTotal Crypto Open InterestHyperliquid Open InterestBitcoin PriceOctober 2025 (pre-crash)$220.12 billion$15 billion~$100,000Current$116.66 billion$11.51 billion~$65,000RWA perpetuals surpass Bitcoin trading on HyperliquidReal-world asset (RWA) perpetual contracts have emerged as the primary driver of increasing open interest on Hyperliquid. Daily open interest in RWA perps currently stands at $3.61 billion, achieved through the HIP-3 protocol introduced on October 13, 2025. HIP-3 allows users to stake 500,000 HYPE and launch a new perpetual market without direct approval from Hyperliquid’s core team.
With $3.61 billion in open interest, RWA perpetuals now represent the largest segment on Hyperliquid, overtaking Bitcoin, HYPE, and major layer-1 token markets. Daily trading volumes on HIP-3 products now account for half of total perpetual trading volume on the platform, compared to just 3% at the beginning of the year when core perpetuals made up 97% of activity.
Mini dictionary: Real-world asset (RWA) perpetuals are derivative contracts that enable continuous trading of assets linked to real-world items such as equities, commodities, or bonds on blockchain-based platforms. The HIP-3 framework allows for decentralized market deployment without centralized oversight, expanding the variety and accessibility of RWA-based derivatives.
Daily HIP-3 volumes now hold a 50% share of Hyperliquid’s total perpetual trading, while core perpetuals have seen their dominance drop from 97% to 50% within a few months.
Hyperliquid’s share of global perpetual open interest among major exchanges has risen to 9.5%, a new peak according to Hypeflows data. This is an increase from 6.9% recorded in late May. Despite this, Hyperliquid’s own open interest remains about 23% below its October 2025 high of nearly $15 billion. Meanwhile, competitors such as Binance, Bybit, and Gate.io have seen more pronounced declines due to post-crash deleveraging. Analysts interpret Hyperliquid’s rising market share as a result of weathering the downturn more successfully than its peers, rather than drawing substantial trader migration from these platforms.
ExchangeOpen Interest, CurrentChange Since Oct 2025Hyperliquid$11.51 billion-23%Binance(not specified)Larger contractionBybit(not specified)Larger contractionGate.io(not specified)Larger contractionHyperliquid’s all-time high market share has been attributed to shrinking less sharply than major centralized exchanges during market turbulence.
Concentration of open interest and CEX competitionThe majority of HIP-3 open interest—over 90%—is concentrated in TradeXYZ, a protocol launched by Hyperunit, Hyperliquid’s tokenization arm. HIP-3 market operations are conducted outside Hyperliquid’s core liquidity pool, meaning responsibilities such as data oracles, margin rules, and liquidity are managed by the venue operator. This setup has resulted in a single venue supporting roughly a third of Hyperliquid’s overall open interest.
Centralized exchanges are monitoring the trend. Binance responded by launching pre-IPO perpetual contracts featuring a SpaceX market on May 21, followed by seven US equity and ETF perpetuals offering up to 25x leverage as of July 9. The availability of RWA-based products with CEX-scale liquidity marks a shift that may alter the competitive landscape for Hyperliquid and DeFi derivatives markets.
Mini dictionary: TradeXYZ is a DeFi protocol built by Hyperunit, the tokenization arm of Hyperliquid, specializing in deploying and managing on-chain perpetual derivatives markets. The project enables decentralized trading of novel assets and was responsible for most HIP-3 open interest following the rollout of RWA markets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitwise’s chief investment officer thinks the next crypto bull run won’t be sparked by meme coins or speculative mania. It’ll be driven by something far less exciting on paper: real businesses generating real revenue, both onchain and off.
Matt Hougan singled out Hyperliquid and Robinhood as the two entities best positioned to bridge decentralized finance and traditional markets, arguing their convergence should lift flagship assets like Bitcoin and Ether along the way.
The Hyperliquid thesis Hyperliquid has quietly become one of the most compelling stories in DeFi. The onchain perpetuals exchange has carved out a dominant position in decentralized derivatives trading, but what makes it interesting to institutional investors isn’t just volume. It’s the tokenomics.
The protocol directs 99% of its revenue toward buybacks and burns of its native HYPE token. In English: almost every dollar the platform earns goes directly toward reducing token supply, which is about as shareholder-friendly as crypto gets.
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Hougan specifically referenced what he called the “Hyperliquid Lane” as a particularly promising investment corridor. And Bitwise is putting its money where its CIO’s mouth is. The firm launched the Hyperliquid ETF, ticker BHYP, on May 15, offering direct HYPE exposure alongside staking rewards of 0.34%.
That ETF launch coincided with broader acceptance of crypto-native assets in traditional investment wrappers. Multiple HYPE ETFs have collectively raised nearly $150 million in assets, suggesting that the appetite for exposure to revenue-generating DeFi protocols extends well beyond crypto-native investors.
Robinhood’s blockchain pivot On the TradFi side, Robinhood has been making aggressive moves that go far beyond simply listing a few more tokens on its existing platform.
The company launched its Arbitrum-based Robinhood Chain on July 1, with the public mainnet achieving $450 million in total value locked and processing over 95 million transactions within just three weeks.
The chain offers tokenized stocks to customers in over 120 countries, effectively turning traditional equities into 24/7 tradeable onchain assets.
Hougan referred to this as the “Robinhood Lane,” a parallel investment thesis to Hyperliquid but approaching convergence from the opposite direction. Where Hyperliquid brings institutional-grade tokenomics to DeFi, Robinhood brings DeFi-grade accessibility to traditional finance.
HYPE is already listed on Robinhood’s platform alongside Bitcoin and other major cryptocurrencies, creating a direct connection between the two ecosystems Hougan is most bullish on.
Why this matters for Bitcoin and Ether Hougan’s thesis rests on several converging trends. Stablecoins continue to expand as payment rails. Tokenized assets are reaching mainstream distribution through platforms like Robinhood Chain. Trading is moving toward 24/7 availability with instant settlement. And ETF flows into crypto products are improving after a period of tepid institutional interest.
For investors, the signal from Bitwise is fairly clear. Its decision to launch a dedicated Hyperliquid ETF, combined with Hougan’s public endorsement of the Robinhood convergence thesis, suggests Bitwise sees this TradFi-DeFi merger as the defining theme of the next market cycle. The early numbers—$450 million in TVL for Robinhood Chain, $150 million in HYPE ETF assets—suggest the market is already buying in.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Fasanara Capital, an institutional asset manager overseeing roughly $5.7 billion in assets, is sitting on a sizable short position against Ethereum through the decentralized perpetuals platform Hyperliquid. The firm’s trading account, identified on-chain as BobbyBigSize, is part of a combined $108 million ETH short between Fasanara and fellow institutional player Abraxas Capital.
Both positions are currently underwater, with ETH trading around $1,920.
What the on-chain data shows Nansen’s on-chain tracking has linked BobbyBigSize’s activity directly to Fasanara Capital’s trading operations. The account has been consistently building high-leverage short positions across various crypto assets, with ETH being the primary target.
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Fasanara’s share of the combined short sits at approximately $67 million, while Abraxas Capital accounts for the remainder. Abraxas recently deposited $3 million USDC into Hyperliquid to expand its shorting exposure across both ETH and Bitcoin.
Fasanara Digital, the firm’s crypto-focused arm, launched in 2018 and has built a digital asset platform managing around $500 million. The firm is known for quantitative trading approaches, which suggests these shorts may be part of a broader, hedged strategy rather than a pure directional bet.
Abraxas Capital is known for delta-neutral and arbitrage strategies, meaning they typically try to profit from price discrepancies between venues rather than simply betting on direction. Their short position could be offset by long exposure elsewhere.
Why Hyperliquid matters here Hyperliquid is a decentralized perpetuals exchange with on-chain settlement, meaning every trade is visible and verifiable. That’s how analysts were able to track BobbyBigSize’s positions in the first place.
Previous notable ETH shorts on the platform have exceeded $100 million at leverage ratios as high as 23x.
What this means for ETH investors The fact that both positions are underwater adds a consequential dynamic. If ETH continues to hold above $1,920 or moves higher, the pressure to unwind these shorts could create a short squeeze dynamic, where forced buying to close losing short positions would push prices up further. Conversely, if ETH breaks below current support levels, the $108 million combined short becomes a meaningful overhang that could accelerate any downward move.
Traders should watch whether BobbyBigSize reduces or increases its position in the coming days. On-chain transparency means positions are visible in real time. If Fasanara starts closing its short, that signals the thesis may be shifting. If it adds more, the firm clearly sees further downside ahead despite the current losses.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Goldman Sachs CEO publicly supports the CLARITY Act, diverging from his banking peers on stablecoin yield provisions.
Goldman Sachs CEO David Solomon has explicitly voiced support for advancing the CLARITY Act in an interview, while acknowledging the legislation is not perfect. "Like all legislation, the CLARITY Act has many areas open to debate and discussion, but I think one of the most important things it does is create a level playing field to enhance market stability and enable these markets to develop properly. I strongly support advancing the CLARITY Act so that we can establish market structures and kickstart the innovation process." Solomon’s endorsement comes as Republican senators are discussing an updated version of the bill, with a possible full Senate vote next week, marking another step forward for the long-awaited crypto market structure legislation. His supportive stance stands in sharp contrast to fierce opposition from fellow banking executives including JPMorgan Chase CEO Jamie Dimon. Dimon said in May that the latest bill version "allows them to effectively pay interest on things like deposits and stablecoins without necessary protections," warning "banks will not accept this approach, and it will eventually blow up." JPMorgan also argued in a June blog post that companies offering products with functions similar to traditional bank accounts should be subject to equivalent regulation and consumer protection rules. The core of the controversy revolves around the stablecoin interest provisions.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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.
Goldman Sachs CEO publicly supports the CLARITY Act, diverging from his banking peers on stablecoin yield provisions.
Goldman Sachs CEO David Solomon has explicitly voiced support for advancing the CLARITY Act in an interview, while acknowledging the legislation is not perfect. "Like all legislation, the CLARITY Act has many areas open to debate and discussion, but I think one of the most important things it does is create a level playing field to enhance market stability and enable these markets to develop properly. I strongly support advancing the CLARITY Act so that we can establish market structures and kickstart the innovation process." Solomon’s endorsement comes as Republican senators are discussing an updated version of the bill, with a possible full Senate vote next week, marking another step forward for the long-awaited crypto market structure legislation. His supportive stance stands in sharp contrast to fierce opposition from fellow banking executives including JPMorgan Chase CEO Jamie Dimon. Dimon said in May that the latest bill version "allows them to effectively pay interest on things like deposits and stablecoins without necessary protections," warning "banks will not accept this approach, and it will eventually blow up." JPMorgan also argued in a June blog post that companies offering products with functions similar to traditional bank accounts should be subject to equivalent regulation and consumer protection rules. The core of the controversy revolves around the stablecoin interest provisions.
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Tesla's losses widened to 12% in early trading, weighed down by negative free cash flow.
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Abraxas Capital deposits 2,211 $BTC to Kraken and 30,825 $ETH to Binance
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LayerZero announced a partnership with Keeta, and will support cross-public-chain transfers of tokenized commercial bank deposits.
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Ripple (XRP), Hyperliquid (HYPE) and Zcash (ZEC) are trading in the red on Thursday, facing headwinds near crucial support levels. The technical outlook for XRP, HYPE and ZEC is bearish in the near term, with risks of further declines as selling pressure builds.
Ripple remains capped below 50-day EMAXRP edges lower on Thursday, maintaining a corrective tone below the 50-day Exponential Moving Average (EMA) at $1.1458 and remains well below the 200-day EMA at $1.4425. The pair has bounced off recent lows, but upside attempts are still capped by this overhead moving-average structure.
Momentum is improving, with the Moving Average Convergence Divergence (MACD) and signal line advancing higher and its histogram expanding positively, while the Relative Strength Index (RSI) at about 55 hints at a recovery in bullish pressure without entering overbought territory.
On the topside, initial resistance is located at the 50-day EMA at $1.1458, followed closely by the 50% Fibonacci retracement of the latest swing from $1.2935 to $1.0092 at $1.1514, forming a nearby barrier.
XRP/USDT daily price chart.On the downside, first support emerges at the 38.2% Fibonacci retracement at $1.1178, with additional demand seen near the broken rising trendline area around $1.0937. A deeper slide would expose the 23.6% retracement at $1.0763, before the anchor low at $1.0092 comes into view as a critical floor.
Hyperliquid breaks below crucial support trendlineHyperliquid trades below $60.00 on Thursday, holding below the 50-day EMA at $62.52. From a technical perspective, the near-term bias is bearish, with the path of least resistance targeting the 50% retracement at $54.19, measured from $38.17 to $76.93.
Price remains above the longer-term 200-day EMA at $50.77, but the rejection from the descending resistance line near $69.67 and the break of the former uptrend support line now acting as resistance at $60.72 suggest that rallies are being sold.
The RSI at 40 remains in weak territory, while the MACD and signal line are trending below the zero line, reinforcing a downside-biased tone.
HYPE/USD daily price chart.Looking up, HYPE faces headwinds from the broken support trendline near $60.72, the 50-day EMA at $62.52, and the 78.6% Fibonacci retracement level at $66.22.
Zcash extends decline toward the 50-day EMA Zcash trades above $500 on Thursday, facing downside pressure from an overhead trendline near $581. The privacy coin holds above both the 50-day EMA and 200-day EMA at $489 and $407, respectively, keeping the broader bias constructive.
Momentum is mixed, with the RSI hovering around a neutral 52 and the MACD slipping below zero, hinting that bullish structure is intact but upside conviction has cooled.
ZEC/USDT daily price chart.On the topside, initial resistance aligns with the descending trendline barrier around $581, with the prior swing high near $690.00 marking a more distant bullish objective if buyers regain control.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure (on-chain) and traditional finance (TradFi), according to Bitwise CIO Matt Hougan.
In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%. He pointed to improving market sentiment and exchange-traded fund (ETF) flows as signs that market conditions could be shifting.
Following the move, the Bitwise CIO stated that the next bull run would be driven by stablecoins, asset tokenization, 24/7 markets, instant settlement and the expansion of institutional interest in decentralized finance (DeFi).
“I expect it will be the biggest cycle yet, for two reasons: It will both be the most real, driven by utility and revenue instead of hype. And it will be tackling a much bigger market than prior cycles (global finance, not just crypto),” Hougan wrote.
He highlighted Hyperliquid (HYPE) and Robinhood (HOOD) as two platforms approaching this convergence from opposite directions.
Hyperliquid brings traditional assets on-chainHougan noted that nearly half of Hyperliquid's trading volume now comes from assets such as Oil, Silver and the S&P 500. The platform is also expanding into spot commodities, prediction markets and options.
The report highlighted Hyperliquid's financial performance as a key reason for the bullish outlook. The platform reportedly surpassed $1 billion in lifetime revenue in June and is on track to generate $800 million in revenue this year.
Hyperliquid also directs 99% of its revenue toward buying HYPE tokens on the open market.
“I think the token could double in price and still be fairly valued,” Hougan stated.
Hougan added that the Hyperliquid model could eventually be replicated by other crypto applications that generate substantial revenues.
“Over time, I believe a new wave of crypto assets will copy HYPE’s tokenomics and introduce exciting ‘next-gen’ token opportunities,” he stated.
Robinhood pushes TradFi onto blockchain railsWhile Hyperliquid represents the crypto-native side of the convergence, Hougan identified Robinhood as an example of a traditional financial company moving in the opposite direction.
The company recently launched Robinhood Chain, a Layer-2 blockchain designed to support tokenized financial assets.
Hougan shared that the platform allows users across 120 countries to trade tokenized stocks around the clock. It also connects with DeFi protocols, allowing users to swap assets, borrow against them and access perpetual futures.
Within two weeks of its launch, Robinhood Chain reportedly accumulated more than $300 million in deposits and processed 3.6 million transactions per day, the report states.
Hougan noted that the early activity could encourage other financial institutions to explore similar blockchain-based infrastructure.
“Every major Robinhood competitor is looking at this and asking, ‘Should we do this too?’” wrote Hougan.
Hougan highlighted that investors should focus on crypto-native financial applications with real revenues and sustainable tokenomics, as well as established financial companies actively building on blockchain rails.
HYPE is trading at $59, down 1% over the past 24 hours at the time of writing. Meanwhile, HOOD is trading at $104.48, down 1.77% as of Wednesday.
VerusCoin's Ethereum bridge was hacked, with around $7.53 million in assets transferred out.
According to CertiK Alert monitoring, a security vulnerability attack has targeted VerusCoin’s Ethereum bridge, with attackers transferring approximately $7.53 million in assets. CertiK noted that the vulnerability likely stems from the bridge contract’s failure to properly verify whether the input amount from the Verus chain side matches the actual payment amount — a similar issue that occurred in an incident back in May.
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F2Pool co-founder Chun Wang has deposited ETH and WBTC worth approximately $15.6 million to Binance.
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Intel and AMD are reportedly signing long-term server CPU procurement agreements with Chinese clients, with some products seeing price hikes of over 40% this year.
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Binance will suspend trading on July 25 for system upgrades.
According to an official announcement, Binance will support its partner brokers in carrying out a scheduled system upgrade, during which its stock trading service will be suspended from 10:50 to 14:00 UTC on July 25. Users will not be able to submit stock trading orders during the upgrade period. Binance stated that the upgrade is scheduled outside regular U.S. stock trading hours, and the service is expected to automatically resume after the upgrade is completed. The exact resumption time may be earlier or later than the planned window, so users are advised to arrange their relevant trading activities in advance.
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Yesterday, Bitcoin spot ETFs recorded a net inflow of $69.1 million, while Ethereum spot ETFs saw a net inflow of $72.7 million.
According to data from Farside Investors, U.S. spot Bitcoin ETFs logged a total net inflow of $69.1 million yesterday. BlackRock’s IBIT led with a $38.8 million net inflow, followed by Fidelity’s FBTC at $21.5 million, Bitwise’s BITB at $5.4 million, and MSBT at $3.8 million. Grayscale’s GBTC, however, saw a net outflow of $38.3 million, while all other products had zero net flow. In the same period, U.S. spot Ethereum ETFs posted a total net inflow of $72.7 million: BlackRock’s ETHA took in $53.5 million, Fidelity’s FETH added $19.2 million, and all other products recorded no net flow.
According to Hyperinsight monitoring, as of press time, SPCX on Hyperliquid is trading at around $116, down 49.6% from its peak of $230 and 14.1% below its IPO price of $135. Today, it hit a low of $114.48, with the underperformance widening to 15.2% at one point. The largest long whale, whose address starts with 0x3527, first opened a position on July 16, nearly seven days ago. Since then, it has been averaging down by adding positions daily without any reduction, accumulating a position of 111,700 units, with a cumulative notional position value of around $14.196 million. Currently, the whale holds a full-position long on SPCX with 20x leverage, at an average price of $127.1, with a position value of approximately $12.958 million. It has an unrealized loss of about $1.238 million, a return of -174.5%, meaning the loss has exceeded the initial margin of this position. Calculated based on margin, the theoretical liquidation line is around $113.06, only about $2.94 away from the current price. However, this address has enabled portfolio margin, with 301,900 HYPE (including roughly 60,000 added recently) included as collateral to jointly support SPCX’s losses. The risk is that when HYPE and SPCX decline simultaneously, both collateral value and position equity shrink, and once the threshold is triggered, the system may liquidate the HYPE collateral. All positions held by this address, including SPCX and CRCL, are long positions, with SPCX accounting for around 72% of the total position value, making it a typical high-leverage one-sided long. No stop-loss or position-reduction orders have been placed in the account, and there are no closed position records since the address first opened a long position seven days ago.
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VerusCoin's Ethereum bridge was hacked, with around $7.53 million in assets transferred out.
According to CertiK Alert monitoring, a security vulnerability attack has targeted VerusCoin’s Ethereum bridge, with attackers transferring approximately $7.53 million in assets. CertiK noted that the vulnerability likely stems from the bridge contract’s failure to properly verify whether the input amount from the Verus chain side matches the actual payment amount — a similar issue that occurred in an incident back in May.
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F2Pool co-founder Chun Wang has deposited ETH and WBTC worth approximately $15.6 million to Binance.
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Intel and AMD are reportedly signing long-term server CPU procurement agreements with Chinese clients, with some products seeing price hikes of over 40% this year.
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Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Following one of the biggest market rallies of the year, Hyperliquid is currently experiencing its first significant correction. Before sellers intervened forcefully and drove HYPE back towards the crucial $58 support zone, the asset briefly traded close to the $75–76 range. The fact that HYPE is still above its 100-day EMA at $57 is the strongest directional signal right now.
This moving average, which served as dynamic support during the advance, is currently being tested for the first time since the breakout. The larger uptrend would continue if this level were maintained. But momentum is obviously losing ground.
HYPE/USDT Chart by TradingViewDaily candles continue to display lower highs since the June peak, the RSI has dropped toward 40, and the 20-day EMA has rolled over. Compared to the buying frenzy that accompanied the move from $40 to above $70, volume has also significantly decreased. Bulls have good news: the long-term structure is still positive.
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While the 50-day EMA is currently at $64.7, the 200-day EMA is still rising toward $50. Buyers might attempt another move toward $65 and ultimately $70 if HYPE can hold above $57-$58.
A deeper retracement toward the 200-day EMA around $50 would probably result from a clear breakdown below the 100-day EMA. HYPE is no longer in breakout mode at this time. The market is evaluating whether the prior rally was sustainable or overly speculative during this validation phase.
Near Protocol's ResistanceDespite being stuck within a wide consolidation range, NEAR is exhibiting much greater resilience than many other altcoins. NEAR has been building a base above its long-term trend indicators for several weeks, in contrast to HYPE, which is correcting following a significant rally. While the 200-day EMA near $1.82 still offers structural support, NEAR is trading directly above the 100-day EMA around $1.87.
NEAR/USDT Chart by TradingViewAs a result, the support cluster between $1.82 and $1.87 is rather strong. Bulls have also failed to recover the 50-day EMA at $2.02. Over the past month, every attempt at a recovery has stalled in the $2.00–$2.10 range, creating a clear resistance area that needs to be broken before a long-term uptrend can begin. The current equilibrium is reflected by an RSI of about 45.
The sideways price movement observed throughout July is consistent with neither buyers nor sellers having established dominance. The overall outlook is still fairly optimistic. NEAR continues to print higher lows on the longer timeframe and has effectively recovered from sub-$1 levels earlier this year.
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The predominant interpretation is accumulation as long as the asset stays above the 200-day EMA. $2.00 is the key level to watch. A clear breakout above it could put NEAR back above all significant short-term moving averages and pave the way for a move to $2.30–$2.50. On the other hand, much of the recovery structure developed over the previous few months would be rendered invalid if the $1.82 support zone were lost.
Shiba Inu Looks WeakerFrom a technical standpoint, Shiba Inu is still among the weakest large-cap cryptocurrencies available. Every significant attempt at a recovery has been rejected at important moving averages, and the daily chart displays a consistent pattern of lower highs and lower lows that has persisted for nearly a year.
SHIB/USDT Chart by TradingViewThe failed ascending channel that formed between March and May is the chart's most noticeable feature. Sellers intervened close to the 100-day EMA and forced a breakdown below support, but SHIB momentarily appeared poised to establish a medium-term reversal. The asset has not been able to pick up steam since. At the moment, SHIB is trading below the 20-, 50-, 100-, and 200-day moving averages.
This alignment indicates weakness across all significant timeframes, making it one of the most obvious bearish structures. The first significant resistance level is still the 100-day EMA around $0.0000051, but the 200-day EMA around $0.0000061 is a much bigger barrier. On the other hand, there is a slight improvement. As the price stabilizes at $0.0000042, the RSI has recovered from oversold conditions and is progressively rising.
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Additionally, volume has drastically decreased, indicating that aggressive selling pressure is starting to lessen. The issue for bulls is that renewed demand is not the same as waning selling pressure. A sustainable recovery narrative cannot emerge until SHIB breaks out above the declining moving-average cluster.
Until then, the current structure appears to be more of a consolidation following a decline than the start of a new uptrend. The first indication that buyers are regaining control would be a move above $0.0000045. SHIB would be vulnerable to another leg lower and its long-term bearish trend would be reinforced if current support levels were not maintained.
Dogecoin Does It BetterDogecoin's chart is strikingly similar to SHIB's, but DOGE is marginally more resilient due to a few minor differences. The meme coin has also been in a downward trend for several months, but this decline has been less severe and more orderly than SHIB's. At $0.072, DOGE is currently trading below all major moving averages.
DOGE/USDT Chart by TradingViewA stacked resistance zone is created directly overhead by the 20-day EMA at $0.075, the 50-day EMA at $0.078, and the 100-day EMA at $0.087. This implies that traders who made purchases at higher prices immediately put pressure on the market to sell during every upward move. The RSI shows weak momentum as it remains below the neutral 50 level.
However, DOGE is no longer generating significant downside extensions, in contrast to previous stages of the decline. Throughout July, the price has moved into a comparatively narrow trading range, indicating that volatility is decreasing. From a structural perspective, the recent lows around $0.07 remain the critical support.
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A recovery toward $0.09 is conceivable if DOGE can maintain this zone and reclaim the 20-day and 50-day moving averages. That would be the first significant shift in the trend since May.
Although DOGE is currently more stable than SHIB, it is still technically bearish. The next few weeks are crucial for determining whether accumulation is occurring below the surface, as the market appears to be looking for a bottom rather than accelerating into a new wave of selling.
Following a strong market rally earlier this year, Hyperliquid (HYPE) is undergoing its first substantial correction. The asset briefly approached the $75–$76 range before sellers pushed it back toward a crucial support level at $58. HYPE currently sits just above its 100-day exponential moving average (EMA) at $57, a level that has served as dynamic support during previous advances.
Hyperliquid faces pivotal supportThis marks the first time HYPE has tested its 100-day EMA since breaking out, posing a key question for its short-term trend. If buyers defend this area, the larger uptrend could continue. However, technical momentum appears to be weakening. Daily candle patterns show lower highs since the June peak, the relative strength index (RSI) has dropped near 40, and the 20-day EMA is now sloping downward.
Trading activity has also slowed. Volume has diminished significantly when compared to the high levels seen on HYPE’s run from $40 to above $70, reflecting reduced enthusiasm among buyers. Still, the overall long-term structure remains constructive for bulls.
The 50-day EMA sits at $64.7, with the 200-day EMA trending higher near $50. HYPE could see renewed attempts toward $65 and possibly $70 if it stabilizes above $57–$58. If the 100-day EMA breaks down, a deeper retracement toward the 200-day EMA is likely. The market remains in a validation phase, assessing whether the previous rally can be sustained.
AssetCurrent PriceKey SupportKey ResistanceTrendHYPE$58$57 (100-day EMA)$65, $70CorrectiveNEAR$1.87$1.82–$1.87$2.00–$2.10ConsolidatingSHIB$0.0000042$0.0000042$0.0000051, $0.0000061BearishDOGE$0.072$0.07$0.075, $0.078, $0.087BearishNEAR shows greater stabilityWhile HYPE struggles with volatility, NEAR Protocol is displaying relative resilience compared to many altcoins. NEAR has held above its key long-term indicators for several weeks. The asset is trading just above the 100-day EMA around $1.87, with further support at the 200-day EMA near $1.82.
This confluence around $1.82–$1.87 acts as a strong support cluster. Despite this, bulls have not managed to reclaim the 50-day EMA at $2.02. Each recovery attempt in the past month has failed within the $2.00–$2.10 range, establishing a clear band of resistance.
NEAR’s relative strength index is about 45, pointing to a balanced market. July’s sideways movement suggests neither side has established clear control. On longer timeframes, NEAR’s trend remains constructive, with the asset recovering from sub-$1 prices earlier this year and printing higher lows.
As long as NEAR holds above its 200-day EMA, accumulation appears to dominate. A decisive move above $2.00 could set the stage for attempts toward $2.30–$2.50. However, a loss of the $1.82 support would undermine the progress made in recent months.
Mini dictionary: NEAR Protocol is a layer-1 blockchain designed to provide fast, scalable decentralized applications. Its consensus mechanism, known as Nightshade, divides processing between shards for efficiency.
Recent performance puts $2.00 as the key level to watch for NEAR. A clear breakout above it could return the asset above all important short-term moving averages, while loss of the $1.82 support zone would risk invalidating months of recovery structure.
SHIB and DOGE remain technically weakShiba Inu continues to rank among the weakest large-cap cryptocurrencies in terms of technicals. Each significant rebound has been rejected at major moving averages, coupled with a protracted pattern of lower highs and lower lows on daily timeframes.
SHIB attempted a medium-term reversal between March and May with an ascending channel, but sellers cut short this effort near the 100-day EMA. The asset now trades below its 20-, 50-, 100-, and 200-day moving averages, underlining widespread weakness. Resistance stands at the 100-day EMA around $0.0000051, with the 200-day EMA at $0.0000061 forming a more formidable ceiling.
On the positive side, the RSI has rebounded from oversold territory as SHIB stabilizes around $0.0000042. Volume has dropped, hinting that heavy selling is fading. Buyers, however, need to push the price above declining moving averages to shift the narrative to recovery. Without this, the market remains in a post-downtrend consolidation phase.
SHIB’s first sign of buyer strength would be movement above $0.0000045. Failure to maintain current support may open the door to new lows and reinforce its long-term bearish trend.
Dogecoin displays a similar chart pattern but has shown slightly more stability than SHIB. DOGE has been trending downward in recent months but with a more gradual decline. At $0.072, the asset sits below all major moving averages. Overhead resistance is tightly stacked, with the 20-day EMA at $0.075, 50-day EMA at $0.078, and 100-day EMA at $0.087 constraining upward moves.
The RSI suggests modest momentum, remaining below the neutral 50 mark. While DOGE no longer sees significant downside extensions, July has brought a narrow trading range and diminished volatility. Key support for DOGE remains at $0.07.
If DOGE can defend this level and surpass the 20- and 50-day moving averages, a potential recovery to $0.09 could materialize. Until then, technical outlook remains bearish despite recent stability. The coming weeks may determine whether buying interest accumulates or another round of selling emerges.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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