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Hyperliquid Price Outlook for July 2026

20h35 ▪ 6 min read ▪ by Luc Jose A.

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While capital is fleeing Bitcoin and Ethereum ETFs at an unprecedented rate, another player is attracting attention. Hyperliquid’s HYPE token continues to evolve at the top of its valuation, contrary to a crypto market under pressure. This divergence reveals a deeper shift. In an environment where speculative liquidity fades, protocols capable of generating real economic activity begin to break free from traditional cycles. Hyperliquid today stands as the most significant embodiment of this mutation.

In brief Bitcoin and Ethereum ETFs are going through a historic crisis, with 6.5 billion dollars in withdrawals illustrating the retreat of institutional investors. Hyperliquid follows a completely opposite trajectory, staying close to its all-time high and attracting positive flows despite a crypto market under pressure. HYPE’s success relies on solid fundamentals, driven by real economic activity, specialized ETFs, and growing investor interest. Hyperliquid’s tokenomics redefine valuation criteria, thanks to a token buyback mechanism directly funded by protocol revenues. The exodus of capital from Bitcoin and Ethereum ETFs towards other projects like Hyperliquid The crypto industry faces a drying up of its liquidity, illustrating a change in stance by institutional capital allocators. According to market data shared by asset manager Coinshares, investment vehicles backed by major cryptos are experiencing continuous selling pressure.

Luke Nolan, senior research associate at Coinshares, thus gave an unequivocal assessment concerning the current state of capital flows. He states that crypto has received “very little support from flows recently”. This lack of buying support is concretely reflected by a losing streak for U.S.-based spot Bitcoin ETFs, which have now recorded eight consecutive weeks of net capital outflows, setting the longest uninterrupted withdrawal sequence observed since their launch.

The quantitative analysis of this disengagement reveals a marked acceleration of outflows during the second quarter of the year. Moreover, financial flow monitoring data reveals the severity of this institutional capitulation :

6.5 billion dollars : this is the minimal total amount withdrawn from these U.S. funds since the beginning of May ; 2.43 billion dollars : this is the total amount of net withdrawals recorded during May alone; 4.06 billion dollars : this is the all-time record of net monthly outflows reached in June; 3,588 bitcoins : this is the massive volume of assets liquidated in a single week by Strategy to finance its preferred stock distributions. This liquidation movement did not remain limited exclusively to bitcoin, as spot Ethereum ETFs also showed notable signs of weakness during the same period, increasing technical pressure on the entire market.

The rush to derivatives This particularly harsh situation for the industry giants has not dampened the upward trajectory of next-generation decentralized finance. The native token of the Hyperliquid blockchain, HYPE, stands out by maintaining its value extremely close to its all-time high, completely independent from current turbulences.

As described by Luke Nolan, “against these difficult market conditions, Hyperliquid (HYPE) continues to trade near its all-time high”. Such relative strength is based on the rapid development of a regulated financial infrastructure dedicated to this asset, materialized by the emergence of three spot ETFs offering investors direct access via traditional brokerage accounts. This range includes the Bitwise Hyperliquid ETF (BHYP), a sector pioneer generating additional yield by staking its holdings, the 21Shares Hyperliquid ETF (THYP), which replicates the performance of the FTSE Hyperliquid Index, as well as the recent Grayscale Hyperliquid Staking ETF (HYPG).

The commercial success of these specialized instruments contrasts point by point with the disaster of traditional ETFs. Investment products focused on HYPE have recorded weekly positive capital inflows since their market introduction in May, attracting around 161 million dollars in net flows during June alone. Currently, the three U.S. structures manage a combined total of approximately 336 million dollars in assets, while equivalent European financial products show over 55 million dollars in assets under management. Although these amounts may seem modest compared to the billions of dollars held by historical leaders, their relative importance radically changes when weighted against the protocol’s real size, confirming a shift of interest from a segment of investors toward targeted alternatives.

The secrets of accumulation: tokenomics indexed on productivity The true explanation for this divergence lies in investors’ perception of Hyperliquid’s financial structure. Luke Nolan further specifies that “on a market cap adjusted basis, HYPE has been one of the strongest crypto ETF launches to date. The relative strength compared to the broader crypto market remains evident”. This dynamic translates deep investor adherence to valuation parameters and the economic design of the asset, as the Coinshares researcher adds that this is a “strong signal that Hyperliquid’s tokenomics resonate with investors”. The network integrates an automatic buy and supply reduction mechanism directly correlated to its usage, thus offering a concrete alternative to purely speculative assets.

Moreover, the technical implementation of a value redistribution-based model changes the game for the institutional investor. Nolan details this specific mechanism by indicating that “using 99% of platform fees to systematically buy back HYPE creates a direct link between protocol activity and token demand, giving the asset a value accumulation mechanism that stands out in the current market”. This architecture creates a perpetual organic demand engine that actively supports the token price as long as the platform generates transaction volume.

While Bitcoin and Ethereum heavily depend on global speculative capital flows, the HYPE token relies on a robust internal mechanism where the asset’s financial performance is intimately linked to real utility and adoption of its decentralized network.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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.

KEY TAKEAWAYS

Hyperliquid is a purpose-built Layer 1 blockchain optimized for perpetual futures trading, commanding approximately 70% of all decentralized perpetual futures volume and $6.5 billion in daily activity. Solana operates as a general-purpose Layer 1 blockchain hosting thousands of applications across DeFi, NFTs, gaming, payments, and consumer apps, with over $5 billion in total value locked. Hyperliquid generates approximately $830 million in annualized revenue with 97 to 99% of fees flowing into token buybacks, creating one of the strongest value-accrual mechanisms in decentralized finance. Solana processes over 40 million daily transactions with SOL-denominated TVL reaching an all-time high of 80 million SOL in early 2026, supported by institutional adoption from Goldman Sachs and BlackRock. Cathie Wood of ARK Invest compared Hyperliquid to early-stage Solana in late 2025, but the two protocols serve fundamentally different markets and carry distinct risk and diversification profiles for participants. In May 2026, Hyperliquid’s fully diluted valuation briefly overtook Solana’s, reaching $56 billion compared to $50 billion. A single-application blockchain outvaluing a general-purpose ecosystem forced reassessment of how markets price crypto infrastructure. 

This article examines architecture, revenue models, ecosystem breadth, and risk profiles to determine what each chain actually offers.

Architecture: Specialized vs. General Purpose Hyperliquid runs on its own Layer 1 blockchain using HyperBFT, a custom consensus algorithm inspired by HotStuff and optimized for low-latency, high-throughput financial applications. The chain supports approximately 200,000 orders per second with a 0.07-second block time and sub-second finality. 

Every order, cancellation, trade, and liquidation executes onchain. The network comprises HyperCore for specialized trading applications and HyperEVM for Ethereum-compatible smart contracts.

Solana uses Proof of Stake combined with its proprietary Proof of History mechanism, processing over 40 million daily transactions. The network hosts a full spectrum of applications, from Jupiter’s $1.2 billion daily DEX volume to Kamino’s $1.48 billion lending protocol.

The architectural difference is fundamental. Hyperliquid optimized every stack layer for high-frequency derivatives. Solana is optimized for breadth, trading off single-application performance for general smart-contract flexibility. This mirrors traditional finance, where specialized venues like CME coexist with general-purpose infrastructure.

ARK Invest CEO Cathie Wood stated on the Master Investor podcast in late 2025 that Hyperliquid “reminds me of Solana in the earlier days,” calling it “the new kid on the block.” The comparison captures trajectory similarity but obscures the structural difference between these platforms.

Revenue Models and Token Value Capture Revenue mechanics represent the starkest divergence between these ecosystems. Hyperliquid charges taker fees of 0.045% and maker fees of 0.015% on its perpetual order book. Approximately 97 to 99% of resulting protocol revenue flows through the Assistance Fund, which executes automated buybacks of HYPE tokens on the open market, according to multiple 2026 analyses. 

Cumulative protocol revenue has surpassed $1 billion, with an annualized run rate near $830 million. Solana generates approximately $6.8 million per day in ecosystem fees, but most flows to individual applications.

Network-based fees are fractions of a cent. The value proposition for SOL holders is indirect: staking rewards and the option value of an expanding ecosystem. 

Data from Nexo Research illustrates the efficiency gap. Hyperliquid generated $844 million in revenue in 2025 from a single product. Solana’s $1.3 to $1.4 billion came from hundreds of applications.

Analysis: Hyperliquid’s buyback model creates a tight feedback loop between activity and token demand. Solana’s diffuse model distributes value broadly but lacks a comparable concentration mechanism. This makes Hyperliquid more attractive during bull markets but more fragile during downturns.

Ecosystem Breadth and Risk Diversification Solana’s architecture has produced a broad ecosystem. DeFi TVL reached approximately $5.1 billion by mid-2026. Institutional adoption accelerated with Goldman Sachs disclosing $108 million in SOL ETF holdings and BlackRock’s BUIDL fund clearing $550 million on the network.

The developer ecosystem supports roughly 4,000 active developers. SushiSwap migrated to Solana in early 2026, and Jupiter evolved from a DEX aggregator into a comprehensive financial platform with lending and stablecoin issuance.

Hyperliquid’s ecosystem is intentionally narrower. The HyperEVM hosts approximately 243 protocols with $1.5 billion in TVL, but the core perpetuals exchange dominates economic activity.

The protocol controls 66 to 73% of all decentralized perpetual futures flow, processing roughly $50 billion in weekly volume. Product expansion into binary options trading via HIP-4 and permissionless perpetual market creation via HIP-3 diversifies the product suite while remaining within the derivatives vertical.

Solana’s breadth provides multiple segments to absorb downturns. Hyperliquid’s revenue concentration in perpetual futures makes it highly cyclical. With only 27% of HYPE supply in circulation, token unlock events such as the July 2026 release of 9.9 million tokens, worth approximately $645 million, introduce supply-side pressure.

Regulatory Implications Both protocols face regulatory exposure, but through different vectors. Solana’s growing institutional adoption through ETFs and tokenized securities places it squarely within SEC and CFTC oversight frameworks. 

Hyperliquid’s derivatives-focused model operates in a regulatory gray zone, as decentralized perpetual futures trading remains largely unregulated in most jurisdictions. The Digital Asset Market Clarity Act could affect the classification of tokens and services for both protocols.

What’s Next? Solana’s Firedancer client upgrade, continued ETF adoption, and the expansion of tokenized real-world assets on the network represent near-term catalysts.

Hyperliquid’s trajectory depends on sustaining growth in trading volume, absorbing token unlocks without significant price dilution, and fending off competition from Aster and emerging Solana-based perpetual venues.

Both ecosystems are expanding, but toward different destinations. The market may value them side by side, but they are not playing the same game.

FAQs What is the main difference between Hyperliquid and Solana?
Hyperliquid is a purpose-built Layer 1 optimized for perpetual futures trading, while Solana is a general-purpose blockchain hosting thousands of diverse applications across DeFi, NFTs, and payments.

Which has higher trading volume?
Hyperliquid processes approximately $50 billion in weekly perpetual futures volume, while Solana’s DEX ecosystem handles billions in daily spot trading volume across multiple decentralized exchange protocols.

How do their revenue models compare?
Hyperliquid directs 97-99% of protocol fees toward token buybacks, creating direct value accrual, whereas Solana’s fees are distributed across individual applications, with minimal direct flow to SOL holders.

Is Hyperliquid riskier than Solana?
Hyperliquid carries higher concentration risk due to revenue dependence on perpetual futures and significant upcoming token unlocks, while Solana’s diversified ecosystem provides more downside resilience across cycles.

What did Cathie Wood say about Hyperliquid?
ARK Invest CEO Cathie Wood compared Hyperliquid to early-stage Solana on the Master Investor podcast in late 2025, citing trajectory similarities while noting ARK does not hold HYPE tokens.

Can Solana compete with Hyperliquid in perpetual futures?
Solana hosts six perpetual trading venues, but Hyperliquid commands 66 to 73% of decentralized perpetual futures volume, a dominance gap that multiple Solana protocols are actively trying to close.

Which ecosystem has more institutional adoption?
Solana leads in institutional adoption with Goldman Sachs and BlackRock exposure, ETF products, and traditional finance integrations, while Hyperliquid attracts institutional trading flow through execution quality.

References Hyperliquid vs. Solana: The Battle for Liquidity King in 2026 (CryptoNews, May 2026) Hyperliquid vs Solana: Are They Really the Same? (Nexo Blog, May 2026) Solana perps venues compared against Hyperliquid in new analysis (CryptoBriefing, May 2026) Better Crypto Buy: Solana vs. Hyperliquid (The Motley Fool, July 2026)

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

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

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

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

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Key Takeaways Table of Contents

Key TakeawaysModerate Projection: $180–$300 Through 2031Optimistic Outlook: $500–$800Conservative Scenario: $40–$80Distinguishing Factors for HYPE Hyperliquid currently dominates decentralized perpetual futures trading by volume Base case projections estimate HYPE between $180 and $300 by 2031 Optimistic outlook projects HYPE could climb to $500–$800 as it captures centralized exchange market share Conservative estimates place HYPE between $40 and $80 if regulatory and competitive headwinds intensify Weighted probability analysis suggests a $315 price target for 2031 In less than two years, Hyperliquid has transformed from an emerging decentralized exchange into a dominant force in on-chain derivatives trading. The platform now handles billions in daily transaction volume.

Hyperliquid (HYPE) Price The exchange operates with a functional revenue model. Trading activity generates protocol fees, and the platform continues attracting users away from traditional centralized exchanges.

Beyond perpetual futures, the ecosystem is evolving. The introduction of HyperEVM and additional financial instruments is expanding the platform’s capabilities and use cases.

Moderate Projection: $180–$300 Through 2031 The moderate forecast presumes that decentralized trading platforms will continue capturing market share from their centralized counterparts. Hyperliquid maintains its leadership position in perpetual futures while successfully expanding into spot trading, lending protocols, and tokenized financial products.

In this scenario, HYPE is projected to reach a price range of $180 to $300 by 2031. This corresponds to a fully diluted market capitalization of approximately $180 billion to $300 billion.

Even at these valuations, significant growth potential remains compared to the largest cryptocurrency networks.

Optimistic Outlook: $500–$800 The optimistic projection envisions Hyperliquid transcending competition within the decentralized space and directly capturing significant market share from major centralized exchanges like Binance, Bybit, and OKX.

Institutional market participants would increasingly execute perpetual futures contracts on-chain. Meanwhile, HyperEVM matures into a comprehensive ecosystem supporting decentralized lending, stablecoin infrastructure, and tokenized real-world assets.

Under these conditions, HYPE could reach valuations between $500 and $800, representing a fully diluted market cap ranging from $500 billion to $800 billion.

Conservative Scenario: $40–$80 Hyperliquid operates in an intensely competitive environment. Platforms including dYdX, GMX, Vertex, and Drift are all vying for the same liquidity pools and user base.

Regulatory scrutiny of perpetual futures markets represents another significant risk factor. Numerous jurisdictions continue examining this sector with heightened attention.

Additionally, scheduled token unlocks and expanding circulating supply could create sustained selling pressure, particularly if user growth and volume fail to meet expectations.

Under conservative assumptions, HYPE would trade within a $40 to $80 range through 2031.

Distinguishing Factors for HYPE Unlike numerous alternative cryptocurrencies, HYPE derives its value from measurable trading volume rather than speculative narratives alone. This positions it more similarly to exchange equity than traditional crypto tokens.

Hyperliquid already produces verifiable economic value. Should decentralized derivatives markets continue outpacing broader market growth, the platform is strategically positioned to capture disproportionate benefits.

The probability-weighted forecast derived from this analysis indicates a price target of approximately $315 by 2031.

Hyperliquid (@HyperliquidX) $HYPE has overtaken Dogecoin (@dogecoin) $DOGE to claim ninth place in the global cryptocurrency market cap rankings, marking one of the more notable ranking shifts of the current cycle.

What Is Driving the Move The rally has been underpinned by a combination of rising platform usage, competitive fees, and a mechanical buyback programme embedded directly in the protocol. Around 99% of fees from Hyperliquid's perpetuals and spot order book are routed to the Assistance Fund, which continuously purchases and burns HYPE tokens, removing them permanently from circulating supply. The result is a structural link between trading volume and token demand: the more the exchange trades, the more tokens get bought and destroyed.

That volume has been substantial. Hyperliquid has now crossed $1.1 billion in cumulative buybacks, with the protocol recording a single buyback of $283 million, described as the largest in the industry since the start of 2026. The platform has burned over 41 million tokens to date, reducing circulating supply by roughly 4.2%.

Geopolitical tension also played a role. When Middle East volatility spiked, Hyperliquid's around-the-clock trading gave it an edge over venues that observe fixed daily halt periods. TD Securities noted that the platform's oil perpetual futures volume jumped from $25 million to over $550 million across three weekends of the US-Israel-Iran conflict, as traders sought continuous price discovery when traditional markets were closed.

Where HYPE Stands Now HYPE set an all-time high of $76.87 on June 16, 2026. At the time of writing, the token sits approximately 9% below that level, having gained 13.3% over the prior seven days, according to CoinGecko data. The token has risen roughly 205% since January 2026.

Institutional interest has added further support. The Bitwise spot HYPE ETF began trading in May 2026 and spot HYPE ETF products collectively recorded $111 million in inflows as of June 30, a contrast to outflows seen in Bitcoin and Ethereum funds over the same period.

The broader narrative around the ranking change reflects a shift in what the market is rewarding. DOGE, which held a top-ten position for much of the past two years, has lacked comparable fundamental catalysts. Analysts have noted that the 2026 cycle has broadly favoured tokens with clear revenue streams over legacy meme coins.

Sources:
DeFiLlama: Hyperliquid Protocol Fees and Revenue
Crypto Briefing: Hyperliquid Records Largest Crypto Buyback at $283M Since January
Watcher.Guru: Hyperliquid Overtakes Dogecoin, Eyes New All-Time High

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Source: CoinGeckoWhy Is Hyperliquid Surging?Source: CoinCodexHyperliquid’s (HYPE) surge came after a rise in the the sue of the Hyperliquid exchange. Oil futures saw massive trade volume in 2026 amid heightened Middle East tensions. Unlike other exchanges that were closed for a certain period of the day, Hyperliquid was open 24/7. This made is extremely popular among traders. The exchange’s popularity was further propelled by its low fees. As a result, Hyperliquid’s native token, HYPE, climbed to an all-time high of $76.87 on June 16, 2026.

Hyperliquid continues to garner users to its platform as its native token overtakes Dogecoin (DOGE). The surge in the number of users and also returning clients has directly led to a surge in the exchange’s native token. Hyperliquid also uses a majority of its fees for buy backs. The surge in fee collection from increased trading on the platform has led to higher buy backs, consequently leading to a supply dip.

Will The Asset Hit Another All-Time High?Hyperliquid (HYPE) delivered incredible gains in bearish times. Therefore, it is difficult to predict the asset’s trajectory. The larger cryptocurrency market seems to be rebounding from its recent dip. The rally comes amid softer jobs data for June 2026. The low jobs may have led to a re-thinking of the Federal Reserve’s chances of raising interest rates.

Also Read: XRP Makes a Comeback, Rising 10% in a Week: Is $1.50 the Next Stop?

If the market continues its upswing Hyperliquid (HYPE) could hit a new all-time high very soon. However, bearish forces loom overhead and fresh volatility could change the tide ever so quickly.

According to monitoring by OnchainLens, the smart money address 0x15a, which has been dormant for several months, deposited $1 million USDC into Hyperliquid and opened a 40x leveraged long position of 200 BTC, with the position valued at roughly $12.58 million. The address’s last on-chain activity occurred in March this year, and its historical cumulative profit from perpetual contracts stands at approximately $2.28 million.

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Trump: Early investment is key, and the stock market will soar.

Trump said that thanks to the Trump Account, newborns today will hold a massive financial advantage by the time they turn 18. While promoting the account’s launch ceremony, he heavily touted early investment as a means to build long-term wealth, noting that the Dow Jones, Nasdaq, and S&P 500 have all risen recently. “I think the market will skyrocket,” he said, urging families to keep investing rather than cashing out. (Jinshi)

7 minutes ago

Viewpoint: Strategy’s BTC sale helps restore market confidence in STRC and mitigate short-term tail risks for Bitcoin

Grayscale Research Head Zach Pandl published a note stating that in his view, Strategy’s sale of Bitcoin is a necessary move to restore market confidence in STRC and its overall structure. Last week’s partial Bitcoin sale by Strategy further reduced short-term tail risks for Bitcoin, and STRC is expected to continue performing well going forward. As previously reported, Strategy sold 3,588 Bitcoin last week, generating $216 million in proceeds to pay dividends on its digital credit securities. As of July 5, the company’s Bitcoin reserves stood at 843,775 coins, alongside $2.55 billion in U.S. dollar reserves.

7 minutes ago

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

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

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BNY Mellon: Urgency for further Federal Reserve tightening has diminished.

Jeff, Senior Macro Strategist at the Bank of New York Mellon, pointed out that weak U.S. labor data and improved inflation metrics have reduced the urgency for the Federal Reserve to implement further monetary tightening. However, this does not resolve lingering questions about whether the growth slowdown is within a controllable range or whether policy expectations have been overly adjusted. He remarked, “The global narrative is growing less unified.” In the U.S., the key question is whether the Federal Reserve can maintain patience without inflation risks reemerging; in Europe, meanwhile, the focus of discussions has shifted from urgent inflation management to issues including economic growth, fiscal credibility, and defense financing.

11 minutes ago

Recently, only two whales on Hyperliquid have completed position building for MU, with the average entry price for long positions standing at $1,019.

According to Hyperinsight’s monitoring, following the U.S. stock market’s closure for Independence Day last Friday, U.S. stock trading volumes slowed sharply over the weekend, with MU’s 24-hour volume reaching just $99 million. Only one whale built and held a MU (Micron Technology) position on Hyperliquid over the weekend. This whale’s address (0x93c) was created three days ago and currently only engages in long MU trades on Hyperliquid. Approximately three hours ago, the address opened another long position of 1,319.5 MU with 7x leverage, worth roughly $1.33 million, at an average entry price of $1,002 and a liquidation price of $904. Separately, only one whale also opened a MU position during last Friday’s market closure and has held it since. This whale currently holds a long position valued at approximately $8.31 million, with an average entry price of $1,036, and is currently in a slight unrealized loss.

11 minutes ago

DeFi protocol Summer Finance hacked, $6 million in losses

According to Blockaid's monitoring, DeFi protocol Summer Finance is under ongoing attack, with approximately $6 million in assets stolen so far.

11 minutes ago

JPMorgan Chase maintains an "Overweight" rating on Tencent, with a target price of HK$690.

JPMorgan said in a report that uncertainties surrounding Tencent’s WeChat AI Agent include whether it can fully integrate into the WeChat platform, the extent of its transaction permissions, and whether Tencent can build a supply system accessible to AI Agents without relying on existing e-commerce platforms to open inventory. With Tencent launching the beta test for WeChat AI Agent in June, the bank has significantly boosted its confidence in the agent’s value creation framework. The Agent service is now sufficiently visible, enabling a clear distinction between its existing components and areas still under development. This has shifted WeChat AI Agent from an AI initiative with no clear timeline to a phased rollout project with observable milestones. The bank believes the initial impact of WeChat AI Agent’s launch on Tencent’s stock price will likely stem from a reduction in risk premium and higher valuation multiples, rather than short-term earnings per share growth. It assigned Tencent an "Overweight" rating, with a target price of HK$690.

11 minutes ago

South Korea is pushing forward civil enforcement rules for virtual assets, with plans to allow courts to seize and liquidate crypto assets.

South Korea’s Supreme Court has issued a legislative notice for the Partial Amendment to the Civil Execution Rules, which will for the first time bring virtual assets under the scope of civil compulsory enforcement. Following a public comment period, the amended rules are set to take effect on October 1, 2026. Key provisions include: Compulsory enforcement of claims for digital asset transfers (courts may launch enforcement via seizure orders, barring third-party debtors like trading platforms from transferring assets to the debtor, while restricting the debtor from disposing of such claims); Compulsory enforcement of digital assets themselves (courts may seize virtual assets held by the debtor, which will be taken over by enforcement officers, with the debtor prohibited from disposal); Liquidation methods: Seized digital assets can be monetized via transfer orders or auction orders. For assets with low liquidity, conversion into other digital assets prior to auction is allowed.

11 minutes ago

Garret Jin increases his short position on ZEC, with the position valued at $14.9 million.

According to monitoring by Onchain Lens, Garret Jin, agent of the "BTC OG Insider Whale", has increased his ZEC short position to 32,759.57 ZEC, worth $14.9 million. Garret still holds a 5x leveraged BTC long position valued at $80 million, currently with a loss exceeding $16.38 million.

11 minutes ago

BNY Mellon: Urgency for further Federal Reserve tightening has diminished.

Jeff, Senior Macro Strategist at the Bank of New York Mellon, pointed out that weak U.S. labor data and improved inflation metrics have reduced the urgency for the Federal Reserve to implement further monetary tightening. However, this does not resolve lingering questions about whether the growth slowdown is within a controllable range or whether policy expectations have been overly adjusted. He remarked, “The global narrative is growing less unified.” In the U.S., the key question is whether the Federal Reserve can maintain patience without inflation risks reemerging; in Europe, meanwhile, the focus of discussions has shifted from urgent inflation management to issues including economic growth, fiscal credibility, and defense financing.

11 minutes ago

Recently, only two whales on Hyperliquid have completed position building for MU, with the average entry price for long positions standing at $1,019.

According to Hyperinsight’s monitoring, following the U.S. stock market’s closure for Independence Day last Friday, U.S. stock trading volumes slowed sharply over the weekend, with MU’s 24-hour volume reaching just $99 million. Only one whale built and held a MU (Micron Technology) position on Hyperliquid over the weekend. This whale’s address (0x93c) was created three days ago and currently only engages in long MU trades on Hyperliquid. Approximately three hours ago, the address opened another long position of 1,319.5 MU with 7x leverage, worth roughly $1.33 million, at an average entry price of $1,002 and a liquidation price of $904. Separately, only one whale also opened a MU position during last Friday’s market closure and has held it since. This whale currently holds a long position valued at approximately $8.31 million, with an average entry price of $1,036, and is currently in a slight unrealized loss.

11 minutes ago

DeFi protocol Summer Finance hacked, $6 million in losses

According to Blockaid's monitoring, DeFi protocol Summer Finance is under ongoing attack, with approximately $6 million in assets stolen so far.

11 minutes ago

JPMorgan Chase maintains an "Overweight" rating on Tencent, with a target price of HK$690.

JPMorgan said in a report that uncertainties surrounding Tencent’s WeChat AI Agent include whether it can fully integrate into the WeChat platform, the extent of its transaction permissions, and whether Tencent can build a supply system accessible to AI Agents without relying on existing e-commerce platforms to open inventory. With Tencent launching the beta test for WeChat AI Agent in June, the bank has significantly boosted its confidence in the agent’s value creation framework. The Agent service is now sufficiently visible, enabling a clear distinction between its existing components and areas still under development. This has shifted WeChat AI Agent from an AI initiative with no clear timeline to a phased rollout project with observable milestones. The bank believes the initial impact of WeChat AI Agent’s launch on Tencent’s stock price will likely stem from a reduction in risk premium and higher valuation multiples, rather than short-term earnings per share growth. It assigned Tencent an "Overweight" rating, with a target price of HK$690.

11 minutes ago

South Korea is pushing forward civil enforcement rules for virtual assets, with plans to allow courts to seize and liquidate crypto assets.

South Korea’s Supreme Court has issued a legislative notice for the Partial Amendment to the Civil Execution Rules, which will for the first time bring virtual assets under the scope of civil compulsory enforcement. Following a public comment period, the amended rules are set to take effect on October 1, 2026. Key provisions include: Compulsory enforcement of claims for digital asset transfers (courts may launch enforcement via seizure orders, barring third-party debtors like trading platforms from transferring assets to the debtor, while restricting the debtor from disposing of such claims); Compulsory enforcement of digital assets themselves (courts may seize virtual assets held by the debtor, which will be taken over by enforcement officers, with the debtor prohibited from disposal); Liquidation methods: Seized digital assets can be monetized via transfer orders or auction orders. For assets with low liquidity, conversion into other digital assets prior to auction is allowed.

11 minutes ago

Garret Jin increases his short position on ZEC, with the position valued at $14.9 million.

According to monitoring by Onchain Lens, Garret Jin, agent of the "BTC OG Insider Whale", has increased his ZEC short position to 32,759.57 ZEC, worth $14.9 million. Garret still holds a 5x leveraged BTC long position valued at $80 million, currently with a loss exceeding $16.38 million.

11 minutes ago

BNY Mellon: Urgency for further Federal Reserve tightening has diminished.

Jeff, Senior Macro Strategist at the Bank of New York Mellon, pointed out that weak U.S. labor data and improved inflation metrics have reduced the urgency for the Federal Reserve to implement further monetary tightening. However, this does not resolve lingering questions about whether the growth slowdown is within a controllable range or whether policy expectations have been overly adjusted. He remarked, “The global narrative is growing less unified.” In the U.S., the key question is whether the Federal Reserve can maintain patience without inflation risks reemerging; in Europe, meanwhile, the focus of discussions has shifted from urgent inflation management to issues including economic growth, fiscal credibility, and defense financing.

11 minutes ago

DeFi protocol Summer Finance hacked, $6 million in losses

According to Blockaid's monitoring, DeFi protocol Summer Finance is under ongoing attack, with approximately $6 million in assets stolen so far.

11 minutes ago

JPMorgan Chase maintains an "Overweight" rating on Tencent, with a target price of HK$690.

JPMorgan said in a report that uncertainties surrounding Tencent’s WeChat AI Agent include whether it can fully integrate into the WeChat platform, the extent of its transaction permissions, and whether Tencent can build a supply system accessible to AI Agents without relying on existing e-commerce platforms to open inventory. With Tencent launching the beta test for WeChat AI Agent in June, the bank has significantly boosted its confidence in the agent’s value creation framework. The Agent service is now sufficiently visible, enabling a clear distinction between its existing components and areas still under development. This has shifted WeChat AI Agent from an AI initiative with no clear timeline to a phased rollout project with observable milestones. The bank believes the initial impact of WeChat AI Agent’s launch on Tencent’s stock price will likely stem from a reduction in risk premium and higher valuation multiples, rather than short-term earnings per share growth. It assigned Tencent an "Overweight" rating, with a target price of HK$690.

11 minutes ago

South Korea is pushing forward civil enforcement rules for virtual assets, with plans to allow courts to seize and liquidate crypto assets.

South Korea’s Supreme Court has issued a legislative notice for the Partial Amendment to the Civil Execution Rules, which will for the first time bring virtual assets under the scope of civil compulsory enforcement. Following a public comment period, the amended rules are set to take effect on October 1, 2026. Key provisions include: Compulsory enforcement of claims for digital asset transfers (courts may launch enforcement via seizure orders, barring third-party debtors like trading platforms from transferring assets to the debtor, while restricting the debtor from disposing of such claims); Compulsory enforcement of digital assets themselves (courts may seize virtual assets held by the debtor, which will be taken over by enforcement officers, with the debtor prohibited from disposal); Liquidation methods: Seized digital assets can be monetized via transfer orders or auction orders. For assets with low liquidity, conversion into other digital assets prior to auction is allowed.

11 minutes ago

Garret Jin increases his short position on ZEC, with the position valued at $14.9 million.

According to monitoring by Onchain Lens, Garret Jin, agent of the "BTC OG Insider Whale", has increased his ZEC short position to 32,759.57 ZEC, worth $14.9 million. Garret still holds a 5x leveraged BTC long position valued at $80 million, currently with a loss exceeding $16.38 million.

11 minutes ago

Analysis: Bitcoin rebounds, yet spot trading volume shrinks rapidly, with risks of long squeezes in derivatives accumulating.

Crypto analyst Murphy notes that as Bitcoin rebounded from $58,000 to nearly $64,000, its spot relative volume plummeted rapidly. A rebound unsupported by spot demand is unlikely to form the foundation of a trend reversal, often being merely a sentiment-driven recovery rally, so its sustainability demands close monitoring. On the positive front, the USDC/USDT exchange rate has retreated from 1.001 to 1.0006, signaling waning exit intentions and recovering trading activity. While major stablecoins on trading platforms still remain in net outflow, the outflow magnitude has continued to narrow, and this marginal improvement in funding conditions underpins the rebound’s continuation. However, the weakening of spot drivers means derivatives have gained relatively more weight. The 7-day average long premium for perpetual contracts has climbed steadily to $160,000 per hour, indicating taker buy orders have persistently pushed perpetual contract prices above spot levels. Open interest has declined somewhat but remains significantly higher than levels in February this year. The current long premium is still within a normal range, but as the rebound persists, the risk of a long squeeze will keep building. Once open interest rebounds again, fierce battles between bulls and bears will trigger faster and more violent volatility—a hidden risk that requires advance attention.

11 minutes ago

South Korea is pushing forward civil enforcement rules for virtual assets, with plans to allow courts to seize and liquidate crypto assets.

South Korea’s Supreme Court has issued a legislative notice for the Partial Amendment to the Civil Execution Rules, which will for the first time bring virtual assets under the scope of civil compulsory enforcement. Following a public comment period, the amended rules are set to take effect on October 1, 2026. Key provisions include: Compulsory enforcement of claims for digital asset transfers (courts may launch enforcement via seizure orders, barring third-party debtors like trading platforms from transferring assets to the debtor, while restricting the debtor from disposing of such claims); Compulsory enforcement of digital assets themselves (courts may seize virtual assets held by the debtor, which will be taken over by enforcement officers, with the debtor prohibited from disposal); Liquidation methods: Seized digital assets can be monetized via transfer orders or auction orders. For assets with low liquidity, conversion into other digital assets prior to auction is allowed.

7 minutes ago

Garret Jin increases his short position on ZEC, with the position valued at $14.9 million.

According to monitoring by Onchain Lens, Garret Jin, agent of the "BTC OG Insider Whale", has increased his ZEC short position to 32,759.57 ZEC, worth $14.9 million. Garret still holds a 5x leveraged BTC long position valued at $80 million, currently with a loss exceeding $16.38 million.

7 minutes ago

Analysis: Bitcoin rebounds, yet spot trading volume shrinks rapidly, with risks of long squeezes in derivatives accumulating.

Crypto analyst Murphy notes that as Bitcoin rebounded from $58,000 to nearly $64,000, its spot relative volume plummeted rapidly. A rebound unsupported by spot demand is unlikely to form the foundation of a trend reversal, often being merely a sentiment-driven recovery rally, so its sustainability demands close monitoring. On the positive front, the USDC/USDT exchange rate has retreated from 1.001 to 1.0006, signaling waning exit intentions and recovering trading activity. While major stablecoins on trading platforms still remain in net outflow, the outflow magnitude has continued to narrow, and this marginal improvement in funding conditions underpins the rebound’s continuation. However, the weakening of spot drivers means derivatives have gained relatively more weight. The 7-day average long premium for perpetual contracts has climbed steadily to $160,000 per hour, indicating taker buy orders have persistently pushed perpetual contract prices above spot levels. Open interest has declined somewhat but remains significantly higher than levels in February this year. The current long premium is still within a normal range, but as the rebound persists, the risk of a long squeeze will keep building. Once open interest rebounds again, fierce battles between bulls and bears will trigger faster and more violent volatility—a hidden risk that requires advance attention.

7 minutes ago

ANSEM posts a short-term rally of 25%, with its current market cap standing at $380 million.

According to GMGN monitoring, Solana ecosystem meme coin ANSEM surged 25% within one hour, with its market cap rebounding to around $380 million, posting a 30% 24-hour gain and trading volume exceeding $39.7 million over the same period. The rally is likely due to Ansem himself (X: blknoiz06) announcing the completion of a new round of airdrop distribution, totaling approximately $7 million. BlockBeats Note: Meme coin trading is highly volatile, largely dependent on market sentiment and concept hype, with no actual value or use cases; investors should exercise caution regarding risks.

7 minutes ago

HTX Genesis Hackathon Attracts Over 30 Teams from Top Universities at Home and Abroad

According to official social media announcements, the HTX Genesis Hackathon—hosted by HTX DAO and B.AI, and co-organized by OpenCSG, TinTinLand, and OpenCity—has entered the preliminary screening phase. More than 100 developer teams have registered for the event, with participants hailing from over 30 top universities across 22 global cities, including Tsinghua University, Fudan University, the National University of Singapore, and the University of Edinburgh. The hackathon offers a total prize pool of 20,000 USDT and over $100,000 in computing power support. Participating teams will innovate in areas such as $HTX use cases, B.AI ecosystem applications and computing power services, AI Agent finance, on-chain asset management, trading infrastructure, DAO tools, and smart financial operating systems. The HTX Genesis finals will be held offline on July 19 during the World Artificial Intelligence Conference (WAIC) in Shanghai.

7 minutes ago

Whale MK4 opened a long position in LIT at $1.29, with an unrealized profit of $6.7 million.

According to monitoring by OnchainLens, crypto whale MK4 (@mk4_lul) holds a 5x leveraged long position in LIT, with a position value of $13 million, an entry price of $1.29, and current unrealized profit of $6.7 million. The whale’s wallet address has amassed a lifetime total profit of $173.68 million.

7 minutes ago

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

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

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Glassnode published a report disclosing that its on-chain metric, the Hyperliquid Entry Price Heatmap, displays traders’ specific position entry prices. Currently, a large volume of long positions in the $72,000–$76,000 range and short positions established around $60,000 are in unrealized losses, leaving the Bitcoin market highly vulnerable to both upward and downward price swings. Price fluctuations could further trigger cascading liquidations.

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Solana’s active addresses over the past seven days rose 38% year-on-year to 31.38 million, ranking first among all public blockchains.

According to on-chain analyst Ai Yi (@ai_9684xtpa), meme coins continue to be a key factor driving growth in public blockchain metrics. Solana’s active address count jumped 38% year-over-year to 31.38 million over the past seven days, ranking first among major public chains by a large margin; its transaction volume rose 9.8% in the same period, while transaction fees climbed 38%. The analyst added that today, fueled by CZ’s response, trading activity for BSC meme coins has picked up noticeably, and BSC’s on-chain data is expected to post strong performance tomorrow.

13 minutes ago

Meme coin CZ on the BSC chain briefly surged past $80 million in market capitalization, hitting an all-time high.

According to GMGN monitoring, the BSC-based meme coin CZ (The Final Form Bull) briefly exceeded $80 million in market capitalization, hitting an all-time high, and is currently at $76 million, with a 24-hour surge of 380 times and trading volume of approximately $43.7 million over the same period. Earlier reports noted that crypto blogger @TCryptochicks released a series of "riddle" images, after which Binance founder CZ retweeted the post and replied: "Water (drop) your BNB wallet", reigniting market hype around celebrity-linked meme coins. BlockBeats Note: Meme coin trading is highly volatile, mostly dependent on market sentiment and conceptual hype, with no actual value or practical use cases. Investors should exercise caution and be mindful of the associated risks.

13 minutes ago

Current funding rates on major centralized (CEX) and decentralized (DEX) exchanges show that bearish momentum for Bitcoin (BTC) and Ethereum (ETH) is easing, with market sentiment remaining neutral to slightly bearish.

According to Coinglass data, current funding rates on major centralized (CEX) and decentralized (DEX) crypto exchanges show that the bearish sentiment for Bitcoin (BTC) and Ethereum (ETH) has weakened compared to earlier, but most platforms have not yet formed sustained bullish signals. Specifically, BTC funding rates on multiple platforms hover around the 0.0100% benchmark line, reflecting an overall neutral-to-weak pattern. For ETH, funding rates on multiple platforms have risen above the 0.005% threshold, with ETH’s long sentiment recovering slightly stronger than BTC’s, though no broad bullish signal has emerged yet. BlockBeats Note: Funding rates are fees set by crypto trading platforms to maintain the balance between perpetual contract prices and their underlying asset prices, typically applied to perpetual swaps. They function as a fund exchange mechanism between long and short traders; platforms do not collect this fee, instead using it to adjust the cost or return of holding contracts to keep contract prices aligned with underlying asset prices. A 0.01% funding rate is the benchmark. A rate above 0.01% indicates widespread bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.

13 minutes ago

The probability that the CLARITY Act will be signed into law in 2026 has risen to 52%.

According to Polymarket data, the probability that the CLARITY Act will be signed into law in 2026 has climbed to 52%, a 12-percentage-point increase from July 3. On the news front, the U.S. Major County Sheriffs' Association (MCSA) announced that after initially raising concerns about how the bill would affect illicit financial investigations, it no longer opposes the CLARITY Act. Analysts note that the MCSA’s shift in stance has eliminated a key barrier to the bill’s advancement, improving its feasibility of moving to a Senate vote. Still, opposition from the banking sector to stablecoin yield products and DeFi regulation remains a major source of uncertainty.

13 minutes ago

South Korean chip stocks have extremely high leverage concentration, with the asset size of SK Hynix’s leveraged ETF exceeding four times its average daily trading volume.

The Kobeissi Letter stated in a post that leverage levels in South Korean chip stocks have spiraled out of control. Total assets of single-stock leveraged and inverse ETFs tracking SK Hynix currently stand at roughly $19 billion, more than four times the stock’s approximately $4.5 billion average daily trading volume (ADTV) this year. Meanwhile, leveraged ETFs linked to Samsung hold around $12.4 billion in assets, a 176% premium over its roughly $4.5 billion ADTV. The Hong Kong-listed 2x long SK Hynix ETF has about $13 billion in assets, roughly double SK Hynix’s average daily stock trading volume — the largest gap among major stocks tracked by leveraged ETFs. By comparison, leveraged ETFs tied to Micron Technology (MU) hold roughly $9.9 billion in assets, below its approximately $27.5 billion ADTV; leveraged ETFs for Tesla (TSLA) and NVIDIA (NVDA) have around $6 billion and $5.6 billion in assets respectively, also far lower than their respective ADTVs of roughly $23.6 billion and $28.8 billion. Leverage concentration in South Korean chip stocks has reached extremely high levels.

13 minutes ago

Intel is considering adopting a double-sided power supply architecture for its 1.4nm process technology to catch up with TSMC and Samsung.

Intel is considering adopting a dual-side power supply architecture (utilizing both front and back sides) for its 1.4-nanometer ultra-fine process to catch up with competitors. Industry sources said Intel originally planned to use PowerDirect, a dedicated backside power supply technology, for its 1.4-nm base process 14A, but is now considering introducing a dual-side architecture that leverages both front and back sides in its subsequent 14A2 process. Intel previously announced plans to achieve 1.3x higher chip density on its 14A process compared to 18A; the 14A process targets an M0 pitch of around 28nm, while the 14A2 process could push the M0 pitch to 21nm via a half-node improvement. Intel will maintain a backside power network as its primary setup, while reallocating some front-side metal interconnects for auxiliary power and clock signals to compensate for insufficient power headroom caused by scaling and lithography limitations. Intel’s 14A process is scheduled to enter risk production in 2028 and mass production in 2029. The chipmaker needs to release the 0.9 version of its 14A process design kit (PDK) to external customers this October, and secure firm orders from large fabless clients within the following 18 months. By comparison, TSMC plans to ship its true 1.4nm A14 products in 2028, while Samsung Electronics aims to commercialize its SF2Z, a modified 2nm process utilizing backside power supply technology, in 2027.

13 minutes ago

Gold dropped approximately $100 on Hyperliquid’s perpetual futures contract on July 4, with prices dipping below $4,090 before snapping back. The whole thing played out in roughly a minute. The flash crash occurred on Hyperliquid’s XAU perpetual contract, a synthetic instrument that tracks the price of gold using oracle feeds rather than physical delivery. Arbitrage bots and market makers quickly moved to close the gap between Hyperliquid’s price and the oracle reference, stabilizing the contract.

Hyperliquid’s gold perp was operating in thin liquidity conditions when this crash hit. Market makers and arb bots identified the price deviation from the oracle and bought the dip to restore equilibrium. But “self-corrected” doesn’t help the trader who got liquidated during the 60-second window when prices were in freefall.

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This isn’t Hyperliquid’s first rodeo with sudden price dislocations on non-crypto assets. Back in late May, the SPACEX-USDH pre-IPO perpetual contract crashed 45% after an oracle mishandled data related to a stock split. That incident liquidated $1.51 million across 1,393 positions. The gold crash appears smaller in absolute dollar terms, but the pattern is familiar: thin liquidity plus oracle-dependent pricing plus leverage equals occasional chaos.

Hyperliquid’s commodity ambitions Hyperliquid now supports over 300 perpetual and spot markets, spanning crypto tokens, commodities like gold and silver, and even indices. HIP-3 permissionless markets hit a record daily trading volume of $5.2 billion in early 2026. In January, Hyperliquid’s native HYPE token surged 24% partly driven by soaring silver futures volume on the platform.

What this means for investors For traders using leverage on commodity perps, the lesson is straightforward: position sizing matters more on platforms where a $100 wick can materialize and vanish in under a minute. Stop losses on thin markets can become stop-market orders that execute far from your intended exit. The gap between “the system eventually self-corrects” and “traders don’t get hurt” remains significant, and it widens every time someone adds leverage to a synthetic gold position during off-hours on a holiday weekend when traditional venues are closed and the usual liquidity providers aren’t active.

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

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

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

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U.S. spot Bitcoin ETFs posted a cumulative net outflow of roughly $527 million over the four trading days ending July 2, marking their eighth consecutive week of net outflows and setting the longest weekly outflow streak since the product category launched. While the sector recorded a single-day net inflow of $221.72 million on July 2, ending a prior streak of 10 consecutive trading days with total outflows of around $2.71 billion, the overall weekly outflow trend remained unreversed. Among the products, Fidelity’s FBTC saw a single-day net inflow of $165.96 million, while ARKB (from ARK and 21Shares) posted a net inflow of $91.84 million. In contrast, BlackRock’s IBIT logged a net outflow of $40.43 million that day, marking its 11th consecutive trading day of redemptions, with total outflows reaching roughly $2.2 billion. Separately, U.S. spot Ethereum ETFs recorded a weekly net outflow of $13.67 million for the week ending July 2, extending their streak of weekly net outflows to eight consecutive weeks and matching the all-time longest outflow streak. However, the sector has posted net inflows for two consecutive trading days, with BlackRock’s ETHA notching a $29.74 million net inflow on July 2. Meanwhile, U.S. Hyperliquid ETFs saw a weekly net inflow of $4.32 million, the lowest single-week inflow since their launch in mid-May, a sharp slowdown from the prior week’s record $111.36 million net inflow.

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Vitalik: Ethereum to enter 'Lean Ethereum' phase, core protocol may undergo full overhaul in the next 3–4 years

Ethereum co-founder Vitalik Buterin published a post stating that Ethereum researchers recently held a meeting in Berlin, continuing discussions with client teams initiated in Svalbard in April, to update the blockchain’s long-term protocol roadmap. Vitalik noted that "Lean Ethereum" is not a single upgrade, but a series of protocol evolutions to be rolled out gradually over the next 3 to 4 years—its impact is comparable to The Merge as Ethereum’s second major iteration, while the current phase may mark its third major evolution. He outlined core upcoming changes for Ethereum: replacing direct execution verification with recursive STARK proofs, integrating post-quantum cryptography, adjusting the consensus mechanism to a decoupled design of available chain and finality, and implementing multi-dimensional gas models alongside state structure restructuring. At the state level, Ethereum may form a "two-tier state structure" around 2030, consisting of ~2TB of traditional dynamic state and ~100TB of new scalable state to support scaling needs across different application scenarios. Vitalik emphasized that privacy capabilities will no longer be an add-on feature, but a core goal of protocol design. The system will also rely more on formal verification to boost security, and push the EVM toward higher-level abstractions, with the underlying layer potentially transitioning gradually to RISC-V or leanISA architectures. Key parameters including gas limits, blob sizes, and block times will be adjusted multiple times over the next few years, as Ethereum continues scaling via client optimizations and protocol upgrades. Vitalik concluded that Ethereum is entering a phase of continuous restructuring and scaling, aiming to complete underlying system upgrades without disrupting the existing application ecosystem.

6 minutes ago

The U.S. CLARITY Act has made further progress, while the county sheriffs' organization has shifted to a neutral stance.

The Major County Sheriffs Association (MCSA) has shifted its stance on the CLARITY Act from opposition to neutrality. In a letter to Senate Banking Committee Chairman Tim Scott and Senator Elizabeth Warren, the organization noted that some of its concerns about Section 604 of the bill have been addressed. Previously, the MCSA had warned that the provision could undermine, to some extent, law enforcement capabilities targeting illegal financial activities related to crypto assets. Section 604 is tied to the Blockchain Regulatory Certainty Act, with its core focus on limiting liability for developers of decentralized protocols. Supporters argue that developers should not be held liable as intermediaries for user actions, while law enforcement agencies had earlier raised fears that the provision could create regulatory and enforcement "loopholes" that would hinder investigations into cases like money laundering, ransomware, drug trafficking, and terrorist financing. Despite the neutral stance, the MCSA still calls for including local law enforcement agencies in relevant research and coordination mechanisms in future revisions to boost digital asset crime investigation capabilities. Analysts say this change removes a key obstacle to the CLARITY Act’s progress, boosting its feasibility of advancing to a Senate vote. However, opposition from the banking sector to stablecoin yield products and DeFi regulation remains a major uncertainty.

6 minutes ago

Perspective: The next phase of tokenization will be "customized investment portfolios", rather than just improving settlement efficiency.

Thomas Sy, head of multi-asset solutions at New York Life Investment Management (NYLIM), stated that the next core application of tokenization will be "personalized portfolio construction" rather than just improving settlement efficiency or extending trading hours. NYLIM manages approximately $807 billion in total assets, with about $110 billion overseen by Sy’s team. He noted that blockchain technology will enable asset management firms to customize complex portfolio strategies for different investors at scale—a capability the traditional financial system currently struggles to deliver. Sy added that the future of asset management will center on "high customization," and blockchain is the only technological path capable of achieving this at scale. He emphasized that tokenization is not limited to putting ETFs, bonds or private credit on the blockchain; the key is to restructure the very way portfolios are built. He also pointed out that current portfolios often mix ETFs, bonds and private assets, but personalized strategies are difficult to scale due to operational complexity. Tokenization is expected to "embed customization logic into the assets themselves," reducing operational costs and boosting efficiency. Additionally, Sy said stablecoins have become a key entry point for traditional finance to access on-chain markets. Currently, the stablecoin market capitalization exceeds $300 billion, and they are being used for cross-border payments and fund management. He believes this trend will gradually drive institutional demand for on-chain yield-generating assets. On decentralized finance (DeFi), NYLIM is still researching related applications, but Sy stressed that institutional participation requires more mature infrastructure, including improved tokenized collateral, clearing mechanisms and prime brokerage systems.

6 minutes ago

US national debt has hit $39 trillion, sparking long-term concerns, with analysts warning the risk of an unsustainable fiscal path is rising.

The size of U.S. national debt has risen to around $39 trillion, with public debt equivalent to the total U.S. GDP. Annual interest payments have reached roughly $1 trillion, exceeding the defense budget. The U.S. Treasury system traces its origins to the debt consolidation reform promoted by Alexander Hamilton in 1790, when the federal government assumed the war debts of individual states and promised full repayment, thereby establishing the U.S. credit system and laying the foundation for the global status of the U.S. dollar and U.S. Treasuries. Today, U.S. Treasuries are regarded as one of the core assets of the global financial system, underpinning the reserve currency status of the U.S. dollar and widely held by central banks and financial institutions worldwide. However, as the debt scale continues to expand, market concerns about its long-term sustainability have intensified. According to calculations from the University of Pennsylvania’s Wharton Budget Model (PWBM), when the debt-to-GDP ratio exceeds around 210%, the fiscal system may face unsustainability risks. Currently, the U.S. ratio stands at roughly 100%, and the U.S. Congressional Budget Office projects it could rise to 175% by 2056. Analysts note that in scenarios of rising healthcare spending and persistent fiscal deficits, this risk threshold could be reached earlier, and the long-term stability of the debt structure is facing more stringent market and policy tests.

6 minutes ago

Iran’s new supreme leader remains unaccounted for, as Tehran continues to hold mourning events for Khamenei.

According to CNN, mourning events for late Supreme Leader Ayatollah Ali Khamenei are ongoing in Tehran and multiple Iranian cities, drawing an estimated millions of participants, and will run through July 9. Meanwhile, the international community is uncertain about his successor. Reports indicate his son Mojtaba Khamenei has not made a public appearance, sparking concerns over the power transition and actual governance. Iran’s Islamic Revolutionary Guard Corps (IRGC) has also warned of security threats targeting the country in the coming days. On the regional front, abnormal shipping activity has been observed in the Strait of Hormuz, with multiple vessels turning back while attempting to transit, and the situation remains uncertain. Separately, U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu have held a phone call and agreed to meet in the U.S. soon, with outside attention focused on further coordination between the two countries amid tensions with Iran.

6 minutes ago

Bitcoin broke through $63,000 this morning, erasing all losses from the end of June, with XRP leading gains among major cryptocurrencies.

Bitcoin rose above $63,000 earlier today for the first time in two weeks, up roughly 3.6% from last week and nearly erasing losses from late June. The rally unfolded during thin trading volume for the U.S. Independence Day holiday, with low liquidity widely seen as amplifying short-term volatility. Among major cryptocurrencies, XRP gained 5.3% to reach $1.18, notching a nearly 10% weekly rise and lifting its market cap to around $73 billion, overtaking USDC to become the fifth-largest crypto asset. On-chain data shows XRP holders’ average losses have hit an extreme historical level, leading some traders to view this as a sentiment reversal signal. Ether (ETH) climbed 3.2% to approximately $1,793, with a weekly gain of ~11.5%; Dogecoin (DOGE) rose 2.6%; Solana (SOL) added around 13.2% week-over-week, extending the broader rebound trend. Analysts attribute the rally to Federal Reserve officials signaling easing inflation pressure, weaker non-farm payroll data, and short covering, with Bitcoin bouncing rapidly from below $60,000 to above $63,000. The market’s future trajectory will hinge on upcoming U.S. inflation data and the return of institutional liquidity after the holiday.

6 minutes ago

Hyperliquid (HYPE) price is hovering near $69. The bullish crossover reflects increasing buying pressure. Zooming in on the altcoin market, Hyperliquid (HYPE) attempts to trade on the upside, breaking bearish chains. If the bulls turned stronger, they would dictate their further trajectory. The charts exhibit the short-term fading of bearish momentum. 

Also, the technical setup is flipping positive, as the asset hovers within the green zone. The bullish price structure confirms that buyers are dominating the broader market trend of HYPE.

Moreover, Hyperliquid is currently trading near the $69.25, with a 6.34% gain in value over the last 24 hours, according to CoinMarketCap data. The price is holding above the daily low noted at $65.00, and below the daily high of $69.30.

The trading pattern of the asset shows that the short-term momentum would find significant resistance at $69.57, followed by a range above $69.90. The bulls would hit a higher level, which decides HYPE’s trajectory. On the other hand, the first support level of Hyperliquid is likely found below $68. A weaker move toward the $68.50 range confirms the bearish dominance, and more downside could trigger losses. 

What Does HYPE’s Technical Chart Setup Point To?  The four-hour chart shows that the Moving Average Convergence Divergence (MACD) line is above the signal line and both are above the zero line. It indicates that bullish momentum is gaining strength within a positive trend. The bullish crossover reflects increasing buying pressure. 

This setup supports continued upward price movement, provided buying interest remains strong and momentum is sustained.

In addition, the daily Relative Strength Index is resting at around 67.92, which hints at strong bullish momentum. The value is approaching the 70 range, the overbought zone, showing that buyers are firmly in control. 

While the trend still favours further gains, the market is beginning to near an area where buying momentum could slow and profit-taking may emerge. This reading supports continued bullish price action, but traders should also watch for signs of momentum cooling if the RSI moves above 70.

Crypto Market Highlights

Bearish Clouds Gather as $2.13B in Bitcoin and Ethereum Options Expire

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