Hyperliquid’s native token HYPE surged approximately 35% in the past week, moving from nearly $59 on August 18 to $79.50, as regulatory signals from the United States and strong participation on the Hyperliquid platform drove renewed trader interest.
Regulatory catalysts and platform growthMomentum intensified on August 20, when HYPE convincingly broke above $60 and quickly moved past $70. Buyers seized on this breakout, lifting the price beyond $80 and toward $83 before some profit-taking set in.
A key factor behind the rally came on August 19. US President Donald Trump stated that Commodity Futures Trading Commission Chair Mike Selig was working to establish Hyperliquid in the US under full legal compliance. Traders responded to the announcement by bidding up the token, anticipating a potential regulatory path for the decentralized derivatives exchange in the American market.
Additional support for HYPE’s momentum came from an uptick in platform activity. On August 23, Hyperliquid generated roughly $6.2 million in daily fees, surpassing the combined fees of several competing blockchain networks, according to comparisons from Crypto Briefing.
Part of Hyperliquid’s protocol revenue is allocated to token purchases via the platform’s Assistance Fund, directly linking fee growth to potential demand for HYPE.
In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Hyperliquid’s product environment has expanded due to Hyperliquid Improvement Proposal 3 (HIP-3), enabling external builders to launch perpetual markets. Coin Metrics reported that Trade[XYZ] has emerged as a dominant participant under this structure, generating nearly 55% of the trading volume in August.
HIP-3 developers have broadened available assets by introducing perpetual markets tied to stocks, commodities, and indices. Trade[XYZ] has extended activity into niches such as chipmakers and computing-related assets, reducing the protocol’s dependence on crypto perpetuals exclusively. Hyperliquid now maintains a diverse marketplace spanning both native and HIP-3 markets.
Regulatory engagement continues. On August 18, the Hyperliquid Policy Center and Trade[XYZ] jointly submitted a proposal to the Securities and Exchange Commission advocating for pre-IPO perpetual contract frameworks. The proposal aims to chart a regulatory path that could permit US investors to access these innovative products.
HYPE price action and technical outlookThe daily price chart suggests that HYPE’s uptrend remains intact despite the recent pullback. Price closed firmly above the June highs of $74 to $76 before peaking near $83 and retracing to $79.50.
The Aroon indicator continues to reflect bullish conditions. Aroon Up stands at 92.86%, while Aroon Down sits at 7.14%, indicating that recent highs are sustaining broader trend strength. The Chaikin Money Flow (CMF) offers further support, hovering around 0.22 and showing persistent buying pressure alongside capital inflows during the latest advance.
Higher trading volumes accompanied the breakout through $58 to $60 and reinforced technical momentum. Now, the critical upside challenge is the $82 to $84 range, where the rally recently stalled. A daily close above this zone could lead to a move toward $90, with $95 and $100 as potential targets if momentum strengthens.
Downside risk has grown as well. The $74 to $76 area is the main support HYPE bulls will look to defend. Should this level break, the token could face a larger retracement toward $70, making the previously established support of $64 to $68 relevant if the bullish structure gives way.
Intraday charts reveal that HYPE may need further consolidation before resuming higher. The Supertrend indicator remains positive, with its support line positioned near $72.67. Despite the minor correction, HYPE’s price sits well above this threshold. The region between $72 and $76, aligned with the Supertrend, remains pivotal in the event of intensifying downward pressure.
Meanwhile, the Stochastic RSI has dropped into oversold territory following a steep rally, with %K and %D readings now in the low teens. If price holds between $78 and $79 and momentum reverses, buyers could make another attempt to retest $82 to $84 without a deeper retracement.
If sellers gain traction, however, support at $76 to $77 and then $72.67 will be closely watched. A 4-hour close below the Supertrend would weaken the structure further and possibly bring $70 into focus.
For now, daily Aroon and CMF measures reinforce the broader uptrend, while the bullish Supertrend shows breakout structure holds firm. Yet, the Stochastic RSI indicates short-term momentum has cooled following the advance, keeping $82 to $84 as the immediate upside test and $72 to $76 as the key support.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
A Hyperliquid user has lost about 550,000 USDC after a Google sponsored advertisement directed the victim to a fake version of the decentralized trading platform, with investigators linking the theft infrastructure to the Inferno drainer ecosystem.
Summary
A Hyperliquid user lost about 550,000 USDC after clicking a Google sponsored ad for a fake website. Salus linked the attack infrastructure to the Inferno drainer ecosystem. The backend automatically split the stolen funds among addresses tied to the operation. Groups linked to the infrastructure were connected to about $52.74 million in losses. Blockchain security firm Salus said in an Aug. 24 post on X that the theft took place on Aug. 13 and involved a counterfeit Hyperliquid website promoted through paid Google search results. After tracing the stolen funds and reviewing the infrastructure behind the page, the firm said it connected the operation to a professional drainer-as-a-service network associated with Inferno.
On August 13, 2026, a fake Hyperliquid website promoted through Google sponsored ads caused a victim to lose 550k USDC.
After cross-checking the subsequent fund flows, we confirmed that the case involved professional drainer-as-a-service infrastructure closely linked to the…
— Salus (@salus_sec) August 24, 2026 Hyperliquid phishing case used automated theft infrastructure Salus said its undercover investigation found that the service solicited customers through the Telegram account @AngelFernoOwner. The operator advertised tools including malicious scripts, administrative panels, approval-command generation, one-time contract deployment, automated draining, cross-chain withdrawals, token swaps, and fund consolidation.
The service also offered “automated revenue sharing,” according to the security firm, allowing proceeds from successful phishing attacks to be divided among participants without manual transfers.
In the Hyperliquid case, Salus attributed separate roles to the phishing group and the backend service. The group bought the sponsored advertisements, deployed the spoofed Hyperliquid entry point, and supplied the address designated to receive the proceeds. Once the victim approved the malicious transaction and the funds were taken, the infrastructure handled the split automatically.
According to Salus, address 0x98b276…13C55 received 80% of the proceeds, while 0x93b6B2…1d6D1 received 15% and 0x6fE314…B566 received 5%. A fourth address, 0x9bcd…9104a, executed the drain.
Earlier reporting on the Aug. 13 incident showed roughly 550,019 USDC moving in three transfers of about 440,015 USDC, 82,503 USDC and 27,501 USDC to addresses identified by security researchers as attacker-controlled. Google later suspended the advertiser linked to the reported campaign, according to reports published after the theft.
Drainer-as-a-service model provides ready-made phishing tools The setup described by Salus follows a model in which phishing operators can use ready-made wallet-draining infrastructure while concentrating on advertising, fake websites, and victim targeting.
As crypto.news explained in July 2026, wallet drainer services are built around malicious approvals that allow an attacker-controlled contract to transfer tokens after a user signs a transaction. The report also described drainer-as-a-service operations as an industry in which developers supply malicious software and share stolen proceeds with affiliates who bring in victims.
Such infrastructure can separate the visible phishing campaign from the software used to process approvals and move assets. In the latest case, Salus said the advertised package covered both the initial draining tools and later stages such as cross-chain withdrawals, swaps, consolidation, and profit distribution.
Inferno has been tied to other large approval-phishing cases. A May 2026 Coinbase lawsuit report covered an anonymous investor who alleged that about $55 million in DAI was stolen in August 2024 after the victim interacted with a fake login page. The complaint said the attacker used Inferno Drainer, while blockchain security firm Zero Shadow later traced part of the stolen assets to a Coinbase retail account.
Salus links infrastructure to $52.74 million in losses Tracing beyond the Hyperliquid victim, Salus said groups connected to the infrastructure were linked to approximately $52.74 million in total losses across multiple phishing incidents.
One of the largest cases cited by the firm involved the attacker behind the September 2025 UXLINK exploit. On Sept. 23, 2025, the attacker later became the victim of an approval-phishing attack that moved roughly 542 million UXLINK tokens.
A September 2025 UXLINK phishing report said ScamSniffer detected a malicious increaseAllowance approval that enabled phishing addresses to drain more than $43 million worth of UXLINK at the time. SlowMist founder Yu Xian said the theft was likely carried out by Inferno Drainer using an authorization-phishing method.
The phishing incident followed the original UXLINK compromise one day earlier. Attackers had exploited a delegateCall vulnerability in the project’s multi-signature wallet, obtained administrator privileges, and moved about $11.3 million in assets, while unauthorized token minting caused further disruption. The later phishing theft removed hundreds of millions of UXLINK from the exploiter’s own wallet.
Salus also linked the infrastructure to an April 15, 2026 incident involving CoW.fi. According to the security firm, the protocol’s official domain was hijacked, and one associated victim lost about 316,000 USDC.
A third incident cited by Salus occurred on July 9, when a suspected fake decentralized application or fake airdrop prompted a malicious approval that resulted in the theft of 999,999 USDT. ScamSniffer had reported the transaction, according to the firm’s account of the case.
Evidence and high-risk addresses sent for action The Hyperliquid case follows other phishing operations in which attackers copied recognizable crypto brands and used familiar online services or development platforms to place malicious pages in front of potential victims.
A March 2026 OpenClaw phishing report described attackers creating fake GitHub accounts and cloned websites before directing developers to malicious wallet-connection prompts. OX Security said the campaign used obfuscated code and targeted users with fake token offers, although no confirmed victims had been reported at the time.
For the Aug. 13 Hyperliquid theft, Salus said its investigation covered the subsequent fund flows, the service infrastructure and the accounts used to recruit phishing operators. The firm said all supporting evidence, identified high-risk addresses and related intelligence had been formally submitted to relevant organizations for risk labeling and coordinated action.
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.
Following one of its biggest daily movements of the year, XRP has completely altered its short-term technical structure. After briefly rising to about $1.70, the asset is currently trading at about $1.49. The breakout was accompanied by a significant increase in trading volume.
XRP's fundamental improvements Most significantly, the whole cluster of major moving averages has been cleared by XRP. The shorter averages are located much lower at about $1.10-$1.18, while the long-term moving average near $1.35 served as the last significant dynamic resistance. Therefore, holding above $1.35 would indicate a significant structural improvement as opposed to a brief spike in volatility.
XRP/USDT Chart by TradingViewBut the rally has grown incredibly long. With a daily RSI of about 86, XRP is extremely overbought. Additionally, the lengthy upper wick at $1.70 indicates that sellers have already reacted forcefully at higher prices. The $1. 50-$1. 55 area is the immediate problem. The route toward $1.60 and ultimately the most recent intraday peak of $1.70 could be reopened by a daily close above this area.
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XRP would have comparatively little visible resistance before the $1.80-$2.00 range if it broke $1.70. A correction wouldn't always render the breakout invalid. The long-term moving average and the breakout area are located at $1.35, which is the first significant support.
The larger recovery structure is maintained if XRP is able to establish that level as support. However, a decline below $1. 35 would increase the likelihood that the explosive move was an exhaustion event rather than the start of a long-term trend reversal.
Shiba Inu building recovery structureAfter months of consistent downward pressure, Shiba Inu is trying to build a recovery structure, but the most recent rejection indicates that bulls have not yet achieved a complete trend reversal. Following an explosive move that momentarily raised the token above $0.00000600, SHIB is currently trading around $0.00000544.
SHIB/USDT Chart by TradingViewThe long-term moving average, which is currently at $0.000574, was the most significant technical barrier in the current setup since that rally was promptly rejected close to it. The fact that SHIB is still higher than its shorter moving averages is a positive development. The token has recovered the orange average at $0.00000493, and there is more support at $0.00000480 and $0. 00000457.
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As a result, the short-term structure is significantly healthier than it was in June and July. It has also gained momentum. After the rejection, RSI is now close to 64, above its signal line but not overbought. During the breakout attempt, trading volume increased significantly, indicating real market participation as opposed to a low-liquidity drift higher.
Now, SHIB must convert $0. 00000550-$0. 00000575 into support. The former March-May consolidation zone, which is located between $0. 00000620 and $0. 00000660, would be exposed after a clear break above the long-term moving average at roughly $0.00000600.
SHIB would remain susceptible to another retracement if that obstacle was not overcome. The current recovery would be weakened if the token lost $0. 00000490, and it would revert to its previous bearish structure if it moved below roughly $0. 00000455. The long-term resistance directly overhead continues to be the crucial test, but for now, SHIB has momentum.
Hyperliquid's skyrocketing continuesAfter momentarily reaching about $82.50, Hyperliquid has continued its breakout and is currently trading around $80. The move confirms that the August recovery has grown into a much larger bullish impulse and places HYPE firmly above its prior June-July peaks around $75–$77, giving the token a new local high.
HYPE/USDT Chart by TradingViewTechnically, the structure is very robust. With dynamic support presently concentrated around $63. 21, $61.10, and $58.56, HYPE trades significantly above all major moving averages. Near $52.42, the long-term average is still significantly lower. The distance between price and these averages illustrates both the strength of the move and the length of HYPE.
The biggest immediate risk is now that extension. At 80. 55, the daily RSI is clearly in overbought territory. Additionally, volume has increased significantly during the breakout, bolstering the move's legitimacy and raising the likelihood of profit-taking following such quick appreciation.
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Keeping the price between $75 and $77 is now crucial for bulls. The first significant area of support ought to be this former resistance zone. A path toward $82. 50 and possibly $85-$87.50 would be preserved if it were held. While HYPE's overall structure is still bullish while it remains significantly above the $60-$63 region, a decline below $75 would instead raise the likelihood of a deeper retest toward $70.
Bitcoin's breakout might slow downBitcoin has experienced a significant technical breakout, rising from the consolidation range of $63,000 to $65,000 to roughly $77,000 in a few daily sessions. More significantly, one of the strongest technical barriers that had kept the price contained since the start of the wider downtrend has been removed as Bitcoin has crossed its long-term moving average at roughly $71,689.
The move's credibility was increased by the breakout's significant volume expansion. Additionally, Bitcoin trades well above its shorter moving averages, which are currently centered between $65,100 and $67,500. Momentum, however, is now severely stretched. The daily RSI is at about 80, while its moving average is at about 58 points.
BTC/USDT Chart by TradingViewThat does not necessarily mean a quick reversal, but it does make further upside more reliant on consistent buying as opposed to just momentum continuation. The May peak is located between $82,000 and $82,500, and the first resistance is located around $80,000. The $85,000 region might become visible if that area were cleared, which would be another significant structural improvement.
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On a pullback, the more crucial test might occur. Because it includes the recently reclaimed long-term moving average and breakout region, the $71,500–$72,500 area now serves as the crucial support zone.
The claim that Bitcoin has moved out of its prior bearish structure would be strengthened by a successful retest. That thesis would be undermined if $71,500 were lost, exposing $67,000 to $68,000. Although BTC has currently reached the necessary breakout bulls, consolidation would be preferable to another quick vertical advance due to its overbought momentum.
XRP, Shiba Inu, Hyperliquid, and Bitcoin have all made notable technical advances, with each asset climbing past crucial resistance zones. The most significant of these moves came from XRP, which surged to $1.70 before settling near $1.49, marking one of its largest intraday swings this year. This rally was underpinned by a sharp rise in volume, indicating strengthened buyer activity.
XRP clears major resistance, but faces overbought conditionsXRP has successfully moved above a dense cluster of major moving averages, with the key long-term average at $1.35. Shorter-term averages remain between $1.10 and $1.18, highlighting the extent of the breakout. The ability to hold above $1.35 now distinguishes a sustained trend reversal from a short-lived price spike.
With the daily Relative Strength Index (RSI) now at 86, XRP appears extremely overbought, and a long upper wick at $1.70 suggests significant selling pressure at higher price levels. Immediate resistance is now seen in the $1.50 to $1.55 range. If XRP closes above this zone, it could open a path toward $1.60 and potentially a retest of the recent $1.70 high.
If XRP breaks $1.70, visible technical resistance would not emerge before the $1.80 to $2.00 range. Even if a correction follows, the breakout remains valid as long as the price stays above $1.35. A decline below this support could indicate the rally was a temporary burst of volatility rather than a full reversal.
XRP’s ability to maintain support above the $1.35 breakout level is vital for the broader recovery structure. Failure to hold this level would increase the likelihood that recent gains represented an exhaustion move rather than a bullish long-term shift.
Shiba Inu seeks to build recovery momentumAfter sustained downward pressure, Shiba Inu is attempting to establish a recovery trend. The token briefly rose above $0.00000600, but now trades near $0.00000544 after encountering resistance. Its most significant technical obstacle is the long-term moving average, now at $0.00000574, where the recent rally was quickly rejected.
On a positive note, Shiba Inu remains above its shorter-term moving averages. The token recently reclaimed the orange average at $0.00000493 and finds support near $0.00000480 and $0.00000457. The recent rejection brought the RSI to around 64—above its signal line but not yet overbought—which, combined with strong trading volume, suggests real market interest during the attempted breakout.
For a sustained uptrend, Shiba Inu needs to establish the band between $0.00000550 and $0.00000575 as support. A decisive move above the long-term average at $0.00000600 would target the next resistance, connected to the March to May consolidation zone near $0.00000620 to $0.00000660.
If Shiba Inu cannot overcome resistance near $0.00000600, the risk of retracement remains. Fall below $0.00000490 would weaken its current structure, while a drop under $0.00000455 would mark a return to its earlier bearish trend.
Hyperliquid maintains rally, but caution growsHyperliquid, a decentralized perpetuals protocol token, extended its surge, reaching $82.50 before consolidating around $80. This breakout places HYPE above its earlier summer highs of $75 to $77, setting a new local peak. The token remains well above major moving averages, with dynamic support found between $58.56 and $63.21. The long-term average sits much lower at $52.42.
The swift rally brings risk of overextension, with the daily RSI at 80.55, deep in overbought territory. Trading volume has increased substantially during this move, confirming active participation and raising the prospect of profit-taking as the asset appreciates quickly.
Holding the former resistance zone at $75 to $77 is now crucial for bulls. If maintained, a further push toward $82.50 and possibly $85 to $87.50 remains possible. However, a drop below $75 could lead to a retest of support around $70, even as the broader structure stays positive above the $60 to $63 region.
Mini dictionary: Hyperliquid is a decentralized on-chain derivatives exchange known for offering perpetual contracts and high leverage trading directly on the blockchain, without the need for a centralized intermediary.
Bitcoin shatters key resistance, enters extended trendBitcoin has staged a strong technical breakout, climbing from consolidation around $63,000–$65,000 to a recent high of nearly $77,000. The move lifted Bitcoin above its long-term moving average near $71,689—seen as a critical resistance level since the start of the broader downturn.
Significant expansion in trading volume accompanied the breakout, while Bitcoin trades well above its shorter moving averages, which cluster between $65,100 and $67,500. The daily RSI now sits at 80, signaling overbought conditions as momentum stretches higher.
Further upside is now closely tied to sustained buying rather than pure momentum. Key resistance lies at $80,000, with the May high zones around $82,000 to $82,500 marking the next major hurdle. Clearing that area could pave the way to the $85,000 region and signal a major structural improvement.
On any pullback, the $71,500 to $72,500 region will be critical for support, incorporating both the recently reclaimed long-term average and the breakout zone. A successful defense here would reinforce Bitcoin’s new positive structure, while a fall below $71,500 could expose the market to another test of $67,000–$68,000 levels.
Despite the latest overbought readings, Bitcoin’s market structure has shifted in favor of the bulls after breaking through multi-month resistance. However, sustained consolidation may be more sustainable than another rapid climb.
AssetPrice (approx.)Key ResistanceKey SupportDaily RSIXRP$1.49$1.70 / $2.00$1.3586Shiba Inu$0.00000544$0.00000600 / $0.00000660$0.00000480 / $0.0000045764Hyperliquid (HYPE)$80$82.50 / $87.50$75 / $7080.55Bitcoin (BTC)$77,000$80,000 / $82,500 / $85,000$71,500 / $67,00080Disclaimer: 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.
Robinhood co-founder: The development of crypto-stock memes has exceeded the company's expectations, as this format connects users to real stock tokens.
Robinhood co-founder Vlad Tenev praised the work of builders on Robinhood’s blockchain during a recent appearance on the popular podcast *The Iced Coffee Hour*. Tenev noted that on-chain developers have built unique liquidity pools and protocols the company did not initially anticipate, combining meme coins, core crypto assets, and stock tokens. Meme coins act as an “entry point” or “reward mechanism” to connect users to actual stock tokens. Looking ahead, Tenev outlined a vision to raise the share of U.S. households holding stocks from roughly 50% before Robinhood’s launch to around 65%, with a long-term goal of pushing that figure above 95%. He emphasized tokenization as a critical tool, stating it will make U.S. blue-chip stocks and other real-world assets more accessible for global distribution. Separately, Binance’s CZ (Changpeng Zhao) also commented on crypto-stock memes on X yesterday, writing: “This is certainly fresh and interesting. But we need to ensure issuers can actually fulfill their obligations.”
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Key events to watch this week: Renewed tensions between the U.S. and Iran, Nvidia’s quarterly report to test the sustainability of the AI rally, and Walsh’s remarks to sway market sentiment.
This week, global markets will face multiple risk events, and the crypto market’s long-awaited rebound will be put to the test. The renewed tensions between the US and Iran will be the primary focus of market attention. US Treasury Secretary Bessent stated that the Trump administration will announce new sanctions against Iran on Monday. Trump previously warned that any country providing support to Iran could face economic consequences. Key events to watch (Beijing time): Monday: US Treasury Secretary Bessent holds a press conference on specific actions to escalate economic sanctions against Iran. Wednesday: US data releases include July core PCE price index year-over-year, July personal spending month-over-month, Q2 real GDP annualized quarterly rate revision, and July core PCE price index month-over-month; Nvidia releases its earnings report after US market close. Thursday: The Jackson Hole Global Central Bank Conference runs from August 27 to 29, with Federal Reserve Chair Waller delivering his first speech on August 28; Nvidia holds its earnings call. Friday: US data releases include August Chicago PMI, preliminary 2026 nonfarm payrolls benchmark revision, final August University of Michigan Consumer Sentiment Index, and final August 1-year inflation expectations.
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Crypto custodian Ceffu withdrew 120 million USDC from Ethena over the past day.
According to monitoring by Onchain Lens, institutional crypto custodian Ceffu has withdrawn 120 million USDC from Ethena’s Coinbase Prime custodial wallet via six transactions over the past day. The most recent withdrawal, totaling 30 million USDC, took place approximately six hours ago.
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Well-known trader Killa expects Bitcoin's correction will not be too large, and the range of 70,000 to 73,000 is likely to be the bottom.
Renowned crypto trader Killa posted a statement yesterday, noting that compared to Bitcoin’s 2022 bottom pattern, he expects the current Bitcoin pullback after a rally to be shallow, with $70,000 to $73,000 likely marking the bottom, and backing a subsequent breakout above the $80,000 mark. “I expect a range to form, allowing accumulation of long positions from chasing highs and liquidity building. The market may even see another liquidation sweep above $79,500 before finally heading toward the $70,000 low, followed by expansion,” Killa said. As a BTC-focused quantitative trader, Killa previously predicted the peak of this bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, then shifted to long positions during the broad market sell-off on June 5.
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Preview: Nvidia will release its quarterly earnings report after market close this Wednesday, having exceeded analyst expectations in all of its past 14 quarterly reports.
Nvidia is set to release its quarterly earnings report after U.S. markets close this Wednesday, a key event for Wall Street to gauge whether the AI investment boom is still ongoing. Analysts advise the market not to focus solely on the company’s revenue and profits, but also to assess from CEO Jensen Huang’s remarks whether the massive current investment in AI infrastructure can sustain rapid growth. Market expectations for Nvidia’s earnings have been steadily rising. Data shows the chipmaker has beaten analyst earnings estimates in each of the past 14 quarters. In its most recent quarter, Nvidia’s net profit rose 210% year-over-year, well above Wall Street’s prior forecast of 126%. Analysts project the company’s second-quarter revenue will hit a record $92 billion, up from the $78 billion forecast earlier this year. To top current market expectations, Nvidia will need to deliver net profit exceeding $515 billion. However, Nvidia’s stock performance post-earnings follows a notable pattern: in each of the past four quarterly reports, its share price fell on the next trading day. Options markets are currently pricing in a 5.3% price swing for Nvidia’s shares in the session after the earnings release, a larger fluctuation than the average post-earnings move over the past 12 months. Some investors have positioned for a stock pullback, though analysts remain upbeat. Frank Lee, head of tech hardware and semiconductor research at HSBC Global Research, recently lifted Nvidia’s price target from $325 to $360, citing factors including the company’s strategic partnerships with suppliers and its key role in open-source AI.
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The Hang Seng Tech Index’s decline widened to 4%, with MINIMAX-W plunging more than 10%.
According to Bitget’s market data, the Hang Seng Tech Index’s decline has widened to 4%, with MINIMAX-W dropping over 10%.
Bitwise CIO warned that crypto investors may be focusing too narrowly on today's market while missing where the industry could go next.
Crypto investors may be underestimating where the industry is heading, according to Bitwise Chief Investment Officer Matt Hougan, who has pointed to three mistakes he sees in the market right now.
In a recent post, Hougan said that investors are using today’s market size, established brands, and current activity to judge crypto’s future. Those are normally reasonable approaches, but the space is evolving so quickly that these assumptions are becoming outdated.
Investors Missing the Bigger Market His first point is that investors are underestimating what crypto applications could eventually be used for. Uniswap, for example, was built as a platform for trading cryptocurrencies, but Hougan said it should not necessarily be valued only against the roughly $2 trillion market. As stocks, bonds, real estate, and other assets move onto blockchains, the addressable market for platforms such as Uniswap could become much larger.
The stock and bond markets are worth about $150 trillion and $350 trillion, respectively. Tapping these spaces could create an opportunity roughly 100x larger than crypto alone. Hougan said the same applies to applications such as Hyperliquid, Aave and Chainlink, which investors often view simply as crypto platforms.
The second mistake is assuming that the biggest TradFi companies will eventually take over crypto-native businesses. The exec pointed to PayPal’s stablecoin launch in 2023 as an example. Despite its global brand and position in payments, PYUSD only accounts for 1% of the stablecoin market, while Tether and Circle dominate 88%.
Fidelity faced a similar situation after launching its crypto custody service in 2019. While Fidelity has performed well in the market, Coinbase has become the largest crypto custodian in the US. The same goes for CME’s position in crypto derivatives and Bakkt, which was backed by Intercontinental Exchange, as examples of traditional finance companies that did not end up dominating their respective markets.
He said crypto-native firms have an advantage because they tend to move faster, focus entirely on crypto, and already have users and trust within the sector.
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While this alone does not mean volume will rise 5x, Hougan believes that the combination of round-the-clock trading and AI-driven activity could push stock transactions 10x higher. He added,
“I can imagine 50x or 100x.”
There exists a similar opportunity in payments, where activity involving AI agents could far exceed current levels. While higher volumes may bring lower fees, Hougan asserted that transaction growth of this scale is likely to more than offset that pressure.
The Bitwise CIO isn’t the only one pointing to artificial intelligence as a potential catalyst for crypto. Back in June, Binance founder CZ said that AI agents could rely on blockchain payments because TradFi systems often require human authentication and are not designed for autonomous software.
He expects agentic trading and payments to emerge within months, while AI-related activity could also add to blockchain trading volumes rather than compete with crypto.
According to monitoring by Onchain Lens, market maker Wintermute has recently continued depositing funds into Hyperliquid and expanding its short positions. Its total short exposure has risen from the previous $146 million to $191 million, adding approximately $44.58 million in short positions. Currently, its top five short positions are: ETH (~$53.02 million), BTC (~$30.66 million), SOL (~$22.62 million), HYPE (~$11.43 million), and XRP (~$10.19 million). The address currently has an unrealized loss of roughly $5.85 million. Additionally, Wintermute is transferring large amounts of funds to centralized exchanges such as Binance; the scale of its CEX perpetual contract positions remains to be further observed.
According to Defillama data, Hyperliquid's weekly revenue hit $16.93 million this week, a nearly 196% jump from last week's $5.72 million. Fueled by this week's rebound in the crypto market, demand for perpetual contract trading has risen, driving simultaneous growth in the platform's trading volume and fee revenue. Separately, HTX market data shows Hyperliquid's native token HYPE has rallied over 37% this week, currently trading at $78.66.
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With open interest rising above $13 billion for the first time since October, Hyperliquid has achieved a derivatives-market milestone not seen since October. Both price and speculative positioning are at abnormally high levels as the move coincides with HYPE surpassing its prior price highs and momentarily reaching the $82 area.
Exposure is increasingThe total amount of unsettled outstanding derivatives contracts is measured by open interest. Therefore, an increase over $13 billion suggests that traders are increasing their exposure rather than just closing their existing positions. Expanding OI typically indicates that more capital is entering leveraged positions and participating in the move in conjunction with rising prices.
HYPE/USDT Chart by TradingViewHYPE's daily chart backs up that theory. The token broke through the previous $75–$77 resistance area and is currently trading at about $79.30 after hitting about $82.50. The most recent breakout was technically significant because that zone halted multiple advances in June and July.
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Additionally, volume has significantly increased throughout the advance. In multiple sessions, HYPE has risen from about $56 to almost $80, leaving its major moving averages well behind. The closest averages, which are currently at $63.16, $61.09, and $58.55, show how rapidly the market has grown. However, there is an obvious short-term risk associated with this combination.
Agressive deleveraging With the daily RSI at around 80, HYPE is firmly in overbought territory. When an overextended price is combined with record-high positioning, even a slight reversal could lead to aggressive deleveraging. As a result, the $75–$77 range becomes the first crucial test.
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The claim that HYPE has entered a new phase of price discovery would be strengthened if previous resistance were held as support. In that scenario, $80 might establish itself as support, and the subsequent psychological targets would be $85 and eventually $90. If the rejection were below $75, things would be different.
Leveraged exposure has increased significantly with open interest above $13 billion, raising the possible size of liquidations in the event that momentum reverses. Around $60 to $63 is the next significant support cluster.
As of right now, HYPE is supported by exceptionally strong derivatives participation as well as a confirmed technical breakout. However, the same $13 billion milestone that shows market strength also implies that much more leverage now depends on the rally continuing.
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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.
Open interest in the derivatives market for HYPE, a prominent cryptocurrency token, has surged above $13 billion for the first time since October, marking a significant milestone for the Hyperliquid trading platform. This increase in open interest indicates that traders are aggressively adding new leveraged positions as HYPE’s price moves upward, rather than simply exiting existing trades.
HYPE price breaks resistance with strong momentumIn recent sessions, HYPE climbed above its previous resistance zone between $75 and $77, reaching a high near $82.50 before settling at approximately $79.30. This technical breakout is considered notable, as prior attempts to surpass this range were repeatedly halted during June and July. The sustained move above this level suggests a potential shift in trader sentiment and market dynamics for the token.
Trading volume has spiked throughout the advance, reflecting increased participation. The token’s price has rapidly escalated from around $56 to nearly $80, far surpassing its major moving averages. These averages are now positioned at $63.16, $61.09, and $58.55, offering a perspective on how quickly the market environment has strengthened for HYPE.
MetricCurrent ValueNotable LevelsOpen Interest$13 billionFirst time since OctoberHYPE Price High$82.50Resistance at $75–$77 brokenClosest Moving Averages$63.16, $61.09, $58.55Substantially below current priceRisks emerge as overbought signals flashHYPE’s daily Relative Strength Index (RSI) is measured at about 80, placing the token firmly in overbought territory. Analysts note that when high open interest coincides with an extended price rally, the market is more vulnerable to a rapid reversal if sentiment shifts. A minor decline could trigger widespread deleveraging, leading to increased volatility.
At this stage, defending the $75–$77 range as new support is critical; a sustained hold could reinforce the bullish trend, prompting targets towards $85 and ultimately $90. However, falling below $75 might indicate a potential trend reversal.
The large spike in open interest means leveraged exposure has reached heightened levels. If market momentum fades, the risk of sizable liquidations grows. Market watchers are pointing to the $60 to $63 range as the next major support zone if a deeper correction unfolds.
At present, HYPE enjoys strong derivatives participation tied to its technical breakout. Yet, as open interest rises beyond $13 billion, the dependence on continued price advances increases the chances of a swift and sizable correction should momentum fail to hold. This scenario makes short-term support levels especially important in monitoring risks moving forward.
Mini dictionary: Hyperliquid, a decentralized derivatives trading platform, provides users with synthetic assets and perpetual futures contracts for various cryptocurrencies. By enabling permissionless trading and supporting high leverage, Hyperliquid facilitates significant speculative activity around tokens like HYPE.
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.
23 August 2026 | 15:11 Pump’s full platform collected more fees than Hyperliquid in the latest snapshot, yet Hyperliquid sent more revenue into a HYPE buy-and-burn loop that directly shapes its token economics.
Key Takeaways Pump’s full stack generated $4.82M daily fees. Hyperliquid produced $2.37M in daily revenue. Eligible fees automatically purchase and burn HYPE. Both platforms monetise trading through distinct mechanics. Pump’s reported PUMP buybacks reached $941,387. Gross Fees Make a Misleading Headline The headline numbers suggest Pump is pulling far ahead of Hyperliquid, but raw fee totals mask a clear shift in actual protocol revenue.
DefiLlama’s Pump dashboard showed $4.82 million in 24-hour fees across its full platform, combining Pump.fun, PumpSwap, and Terminal. Over the same rolling window, Hyperliquid generated $2.94 million. On gross fees alone, Pump wins by roughly 64%.
Revenue flips the script. Hyperliquid’s dashboard listed $2.37 million in daily revenue, beating Pump’s $1.84 million by $530,000 (roughly 29%).
Revenue is the cleaner metric here. Pump’s gross fee total counts funds passed directly to liquidity providers and token creators. Meanwhile, Hyperliquid’s gross fees include builder fees that bypass its Assistance Fund. Neither headline fee figure reflects what the protocol retains or routes back to token holders.
Scope also distorts the conversation. Isolating the Pump.fun launchpad alone yields just $1.50 million in fees and $1.15 million in revenue, making Hyperliquid look much larger by comparison. Looking at the full platform vs. individual product streams keeps the playing field fair.
Protocol Fee & Revenue Comparison Matrix
Hyperliquid vs. Pump ecosystem metrics
Metric / Focus Hyperliquid Pump (Full Stack / Ecosystem) Gross Daily Fees $2.94 million $4.82 million (Full platform) / $1.50M (Launchpad alone) Daily Net Revenue $2.37 million $1.84 million (Full) / $1.15M (Launchpad alone) Token Buyback / Burn Mechanism Automatic daily purchase and permanent burn of HYPE via Assistance Fund (~$2.37M daily flow). PUMP buybacks executed from on-chain burns totaling $941,387. Core Engine & Model Perpetual derivatives, spot trading, and expanded builder markets (HIP-3). Token launches, bonding curves, and post-migration PumpSwap trading. ■ Protocol Revenue vs Fee Breakdown
How Hyperliquid Converts Fees to HYPE Demand HYPE hit an all-time high of $82.43 on August 22 before settling near $79.22. Its tokenomics design is central to that price action.
Hyperliquid’s documentation details how its Assistance Fund automatically converts trading fees into HYPE as part of L1 execution. That acquired HYPE is then permanently burned, taking it out of total circulation.
DefiLlama routes 99% of qualifying perpetual fees (minus builder fees) and 99% of eligible spot fees into this fund. Its 24-hour revenue and holders-revenue readings sit aligned at $2.37 million, providing a direct live metric for the value entering the HYPE buy-and-burn mechanism.
At $79.22 per HYPE, that daily flow equals roughly 30,000 HYPE. While actual purchases fluctuate with live execution prices, the core mechanic remains fixed: qualifying trading revenue creates steady buying pressure, permanently locking those tokens out of circulation.
Separately, HYPE paid in successful HIP-1 token auctions is also burned. Because this is an episodic deployment cost rather than recurring trading revenue, it isn’t included in the daily $2.37 million run rate.
Spot Tokens vs. Perpetual Risk Pump is far more than a launchpad. Traders buy and sell tokens on its bonding curves from second one, continuing on PumpSwap post-migration. Its bonding-curve specs outline a 1.25% trading fee split between the protocol and token creators before liquidity transfers out.
Hyperliquid handles spot trading too, but perpetual derivatives are its real engine. Traders take leveraged long or short positions, settle funding, and manage liquidations without touching the underlying asset. Through HIP-3, third-party builders can deploy perp markets for equities, indices, ETFs, and commodities, running as USDC-margined contracts on Hyperliquid infrastructure via TradeXYZ.
Holding an Nvidia or gold perp on Hyperliquid isn’t equity ownership, it’s cash-settled price exposure backed by builder oracle rules. Pump users swap actual spot crypto tokens. This creates two entirely different business models: Pump monetizes token launches and spot volatility, while Hyperliquid extracts value from traders continuously repositioning leverage across broad markets.
Pump’s Own Buyback Machine Hyperliquid isn’t alone in supporting its token. DefiLlama tracks $941,387 in 24-hour holders revenue for Pump, reflecting PUMP buybacks executed from on-chain burns across its products.
The mechanics differ significantly. Pump’s reported buybacks combine multiple product activities and don’t sum directly with its $1.84 million revenue figure. Hyperliquid’s holders-revenue figure mirrors daily revenue directly because tracking models assign the full qualifying Assistance Fund flow straight to HYPE holders.
The reality? Both protocols actively buy back their tokens. Hyperliquid simply routes about 2.5 times as much value into its holder mechanism ($2.37 million vs $941,387) and burns the acquired HYPE automatically.
A Sustainable Trend, Not a Liquidation Spike Hyperliquid logged $6.84 billion in perpetual volume over the last snapshot, just 3% above its 30-day daily average of $6.65 billion ($199.5 billion total).
Liquidation data tells a similar story. Daily liquidations hit $55.06 million, comfortably below the protocol’s 30-day average of $78.5 million daily ($2.36 billion monthly total).
This proves the latest buy-and-burn volume wasn’t driven by a single liquidation cascade. Generating $39.74 million in revenue over the past month shows Hyperliquid’s buyback engine is backed by steady daily trading activity rather than short-lived volatility.
Pump took home more gross fees across its Solana ecosystem, but Hyperliquid generated more net revenue and directed a bigger slice straight into automated HYPE burns. While token burns aren’t the sole driver behind HYPE’s run to $82, the continuous, data-backed demand provides strong fundamental support.
Methodology: Figures were captured from DefiLlama’s live Hyperliquid, Pump and Pump.fun dashboards on August 23, 2026, at 12:00 UTC. Fee, revenue, volume and holders-revenue metrics are rolling measures and change continuously. The article is provided for informational purposes only and does not constitute investment advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Decentralized derivatives platform Hyperliquid has overtaken Solana based meme coin launchpad Pump.fun in 24-hour fees. Hyperliquid generated $6.5 million in fees over the past day, more than four times Pump.fun’s $1.5 million.
The rise comes as more traders turn to leveraged markets, helping its native HYPE token to reach a new all-time high of $82.43.
Hyperliquid Takes the Lead In Fee, Revenue, and User ActivityData from Token Terminal shows Hyperliquid leading Pump.fun across all three (fee, revenue, and user activity) key metrics over the past 24 hours. Hyperliquid generated $6.5 million in fees, more than four times Pump.fun’s $1.5 million.
Hyperliquid also led in revenue, recording $5.6 million compared with Pump.fun’s $1.3 million
User activity also points to stronger demand. Hyperliquid recorded around 102,800 daily active users, slightly higher than Pump.fun’s 95,200. This shows that its fee lead is not coming only from a small group of traders, but from broader activity across the platform.
If the trend continues, rising fees, revenue and user activity could show that more traders are actively using the Hyperliquid network, giving the token stronger support.
Reasons Behind Hype Surpassing Pump.funA major reason behind Hyperliquid’s higher fees was the recent market swings. Sharp price moves pushed more traders to close or change their leveraged positions, which increased activity on its futures market.
During the sell-off, a Bitcoin position worth nearly $25 million was also liquidated on Hyperliquid.
Pump.fun, meanwhile, mainly focuses on meme coins and recently introduced 0% trading fees on its Solana app, which may have reduced its fee income.
Another reason for HYPE’s growing attention is a recent statement from President Donald Trump, who said CFTC Chair Michael Selig was working to bring Hyperliquid to the U.S. in a “fully compliant and legal fashion.”
However, Hyperliquid has not received U.S. approval yet, and no launch date has been announced.
HYPE Hits New ATH PriceThe strong activity and U.S. regulatory hopes have also surged the HYPE token to a new all-time high of $82.43 on August 22, seeing a 52% gain in the week.
The token later pulled back as some traders took profits, now trading at $78.42, reflecting a drop of 2.2% in the last 24 hours.
If trading activity stays high, the platform could strengthen its position against major crypto apps and create more demand around HYPE.
Story Ends Here
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Institutional investors are reportedly increasing their exposure to Hyperliquid Strategies, as indicated by recent market behaviors and reports from Yahoo Finance. Hyperliquid Strategies, a U.S.-listed digital asset treasury company, has seen a significant rise in institutional ownership. MarketBeat reports that institutional ownership in Hyperliquid Strategies has reached 9.45%, with 43 institutional buyers in the last year. This trend suggests a growing institutional interest in regulated equity vehicles as a means to gain exposure to the Hyperliquid blockchain and its native token, HYPE.
The increase in institutional investment coincides with a notable shift in market dynamics, as the odds for Hyperliquid reaching $100 by the end of 2026 have risen significantly. The likelihood of this outcome is now priced at 62%, up from 40% just 24 hours ago. This reflects an apparent market consensus that institutional demand could drive price increases in the near term.
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These developments are part of a broader trend towards institutional engagement in the cryptocurrency sector, with Hyperliquid Strategies positioned as a key player. The company’s substantial holdings of HYPE tokens and significant cash reserves underscore its strategic role in facilitating institutional access to cryptocurrency markets.
Key Takeaways Institutional interest in Hyperliquid Strategies appears to be increasing, with a reported 122% rise in the number of financial institutions holding Hyperliquid Strategies shares. Market pricing suggests a growing expectation of Hyperliquid reaching the $100 mark by the end of 2026, now priced at 62% YES. The shift towards regulated equity vehicles for cryptocurrency exposure may indicate a maturing market landscape. What to Watch Observers will be monitoring any further increase in institutional ownership of Hyperliquid Strategies, which could reinforce current market trends. Attention will also be on potential announcements regarding partnerships or technological advancements that could impact Hyperliquid’s market perception. Additionally, developments in regulatory environments affecting cryptocurrency investments may influence institutional behavior and market pricing.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 62% 0.0¢ $5K View market → January 1 2027 4% 0.0¢ $11 View market → January 1 2027 2.9% 0.0¢ $53 View market → January 1 2027 4.8% 0.0¢ $1 View market → January 1 2027 3.1% 0.0¢ — View market → January 1 2027 88% 0.0¢ $8K View market → Updated 5min 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.
Goldman Sachs: AI trading sees July-style deleveraging resurface, storage and data center sectors most attractive
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Investor Stanley Druckenmiller has signaled a notable shift toward digital assets through recent disclosures from his Duquesne Family Office. Regulatory filings for the second quarter of 2026 reveal new stakes totaling approximately $87.8 million in two crypto-related companies: Bitdeer Technologies Group (NASDAQ: BTDR) and Hyperliquid Strategies (NASDAQ: PURR).
According to the Form 13F submitted in August 2026 covering holdings as of June 30, Duquesne acquired about 4.1 million shares of Bitdeer Technologies Group.
The position was valued at more than $64.7 million, reflecting an average purchase price near $12.26 per share.
Bitdeer operates as a high-performance computing firm that produces cryptocurrency mining equipment and runs data centers both in the United States and abroad.
The stake ranks among the larger additions within Druckenmiller’s growing focus on artificial intelligence and digital asset infrastructure.Bitdeer has shown operational progress, including reduced quarter-over-quarter losses in its latest results.
The company also secured a long-term artificial intelligence agreement valued at $4.7 billion for 121 megawatts of capacity at its Tydal campus in Norway and has begun construction of a US facility in Nevada expected to manufacture thousands of mining units monthly.
In parallel, the family office established a position of roughly 2.9 million shares in Hyperliquid Strategies (PURR), valued at approximately $23.1 million.
This Nasdaq-listed entity functions as a digital-asset treasury vehicle centered on the HYPE token, the native asset of the Hyperliquid decentralized exchange. Hyperliquid specializes in perpetual futures and other on-chain trading activity.
By holding shares in Hyperliquid Strategies, investors gain regulated equity exposure to the HYPE ecosystem—including accumulation, staking, and yield strategies—without directly purchasing the token itself.
The investment arrives amid heightened attention on Hyperliquid.
The platform’s token recently reached new highs following comments from President Donald Trump indicating that Commodity Futures Trading Commission (CFTC) efforts were underway to bring the exchange into compliance for U.S. operations.
Shares of Hyperliquid Strategies also advanced on the news.These moves form part of a broader portfolio reallocation.
Duquesne’s reported US equity holdings expanded to about $5.21 billion across roughly 95 positions during the quarter.
The office initiated or expanded exposure to several bitcoin mining and related infrastructure names while exiting certain traditional semiconductor holdings.
Other large institutions, including Jane Street, Citadel, BlackRock, and State Street, similarly increased positions in Bitdeer or Hyperliquid Strategies during the same period.
Druckenmiller, long respected for macroeconomic insight and concentrated bets, has occasionally engaged with digital assets in the past.
The latest filings underscore interest in both the physical infrastructure supporting blockchain networks and regulated vehicles that offer institutional access to emerging tokens.
Bitdeer provides dual exposure to cryptocurrency mining and high-performance computing capacity that can serve artificial intelligence workloads.
Hyperliquid Strategies offers a structured pathway into one of the more active decentralized trading platforms.
Market observers note that 13F reports capture only publicly traded equity holdings and do not disclose any direct token positions the office may or may not hold.
Still, the disclosed stakes represent a clear allocation of capital toward the digital-asset sector at a time of evolving regulatory clarity and institutional participation.
As crypto markets continue to mature, the involvement of established investors such as Druckenmiller may further encourage traditional capital to explore infrastructure and treasury-style opportunities within the space. The full extent of any ongoing strategy will become clearer with subsequent filings.
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Hyperliquid, the HYPE token of the Hyperliquid protocol, reached an all-time high of $82.43 on August 22, 2026, as reported by CoinGecko. This peak marks a significant milestone for the token, which has seen a sharp price expansion, reflecting a new phase of price discovery. Despite this high, the token closed around $77.94, indicating a slight retreat following the intra-day rally. Market participants on various platforms recorded substantial volume, reportedly in the hundreds of millions to over $1 billion during this price surge, underscoring heightened interest in HYPE.
Key Takeaways Hyperliquid’s price surge to an all-time high of $82.43 suggests strong interest and potential momentum in the market. Current market pricing reflects a 51.5% probability that Hyperliquid will reach $100 by the end of 2026, indicating mixed confidence in continued upward movement. Recent price activity appears consistent with a broader trend of increased market participation and potential volatility. What to Watch Market participants will be watching for continued developments that could impact Hyperliquid’s price trajectory. Key indicators include announcements of major partnerships, technological advancements, or shifts in institutional interest, which could support a YES outcome for Hyperliquid reaching $100 by December 31, 2026. Conversely, negative news such as security breaches or regulatory challenges could affect confidence and pricing, potentially leading to a shift in the market’s current outlook. As the year progresses, these factors will play a crucial role in determining Hyperliquid’s ability to maintain its upward momentum.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 51.5% — — View market → January 1 2027 3.9% — — View market → January 1 2027 2.9% — — View market → January 1 2027 4.7% — — View market → January 1 2027 3.1% — — View market → January 1 2027 62.5% — — View market →
TLDR: Hyperliquid crypto could gain regulated US access after Trump said CFTC Chair Michael Selig is working on a legal pathway for the platform. CZ said a lawful entry could expand US perpetual DEX access and benefit competing decentralized and centralized venues through deeper liquidity. HYPE trades near $76.26, about 1.7% below its $77.55 record after gaining 36.3% over seven days amid fresh regulatory expectations. DeFiLlama shows $200 billion in 30-day perp volume and $12.55 billion in open interest, raising the stakes for CFTC market safeguards. Binance founder Changpeng Zhao backs a regulated American path for Hyperliquid crypto, calling it positive for the wider industry. Zhao spoke at the Wyoming Blockchain Symposium on August 19, shortly after President Donald Trump discussed the platform. Trump said CFTC Chairman Michael Selig was working toward a fully compliant and legal US entry.
The remarks supported interest in HYPE price, which traded near $76 on Friday. Market data placed the token close to its $77.55 record. Zhao argued that approval could extend beyond one exchange. He expects more decentralized trading services to reach American users under clearer federal rules.
Hyperliquid (HYPE) Price Hyperliquid Crypto Path Could Unlock Wider US Market Access Zhao described Hyperliquid crypto as the first opening in a potentially broader shift for decentralized finance. He said a lawful US route could encourage more perpetual DEX platforms and related services. Those products could then serve American traders and a larger global audience.
His remarks followed Trump’s White House meeting with regulators and leading crypto executives. Trump identified Selig as the official working on Hyperliquid’s compliant US path. The president did not announce an approval, license, timeline, or regulatory structure for Hyperliquid crypto.
CZ on Trump's Push to Bring Hyperliquid to the U.S.: A Win for the Entire Crypto Industry
Binance founder Changpeng Zhao (CZ) @cz_binance said at the Wyoming Blockchain Symposium 2026 on August 19 that President Trump had mentioned CFTC Chairman Michael Selig was working to… pic.twitter.com/lDjKE1P3MO
— Wu Blockchain (@WuBlockchain) August 22, 2026
That distinction matters for a decentralized venue offering perpetual futures. Such contracts have no expiry date and let traders follow asset prices without owning the underlying tokens. American derivatives rules cover registration, market surveillance, leverage, customer safeguards, and anti-money-laundering controls.
Hyperliquid currently blocks US access through its official interface. A regulated entry would therefore require a fully defined operating model that satisfies federal requirements. Neither the CFTC nor Hyperliquid has published those specific legal terms.
Zhao said the development could benefit competitors rather than only Hyperliquid. He expects lawful access to expand the available products and widen the pool of traders. In his view, deeper participation could improve liquidity and transaction prices across both decentralized and centralized exchanges.
The competition point also reaches Binance and other global platforms. Zhao said better US liquidity could produce tighter pricing when customers buy or sell crypto. He framed Hyperliquid crypto access as an industry-level policy change, not a single-platform advantage.
Perpetual DEX Growth Puts Liquidity and Oversight in Focus The market response shows why the discussion carries weight. HYPE price reached a record $77.55 on August 21 after Trump’s remarks fueled expectations for regulated access. The token later traded near $76.26, about 1.7% below that peak. It gained 36.3% over seven days.
Trading activity shows the Hyperliquid crypto platform’s scale within decentralized derivatives. DeFiLlama recorded about $200 billion in perpetual volume during the 30-day period. The platform handled $16.3 billion over 24 hours and held $12.55 billion in open interest.
Source: DeFiLlama Hyperliquid runs an on-chain order book on its Layer 1 network. Users connect wallets directly rather than opening conventional brokerage accounts. That structure can reduce intermediaries, yet US entry still raises questions around identity checks and customer eligibility.
Selig’s policy agenda provides the regulatory backdrop. The CFTC’s first Innovation Advisory Committee meeting on August 20 examined crypto market structure, blockchain infrastructure, cybersecurity, and operational resilience. Its agenda also covered modernizing existing rules while preserving market integrity and customer protection.
Those discussions could shape any route for a perpetual DEX. Regulators must determine how existing derivatives obligations apply to decentralized software, validators, interfaces, and governance. They must also establish who bears responsibility when trades, liquidations, or compliance controls fail.
Hyperliquid crypto would gain access to a major derivatives market if regulators establish a workable route. Competing platforms could study the same framework, while centralized exchanges may face stronger pressure on fees and execution. CFTC guidance has not yet specified whether one pathway could cover multiple decentralized venues. The agency has not disclosed a timetable.
Top Loser in Binance's 30-Day Live Futures Trading Closes Out Short Positions, Incurring a Net Loss of $3.46 Million
According to on-chain analyst Ai Yi (handle @ai_9684xtpa)’s monitoring, Binance futures live trading account "Jiujiu Jin" ranks first on the platform’s 24-hour, 7-day, and 30-day loss leaderboards. The account once held a short position of 250 BTC with an average entry price of $63,592, and closed the position at an average price of $77,758.91 at 8:15 AM today, incurring a total loss of $3.46 million.
14 minutes ago
Iraqi President: Some ships carrying Iraqi oil have been cleared to transit the Strait of Hormuz.
According to CCTV News, Iraqi President Amadi stated on the 22nd local time that Iraq had previously held talks with visiting Speaker of Iran's Islamic Parliament Ghalibaf, and conveyed a message to Iran regarding a review of bilateral relations between Iraq and Iran. Amadi also said that some ships carrying Iraqi oil have been granted passage through the Strait of Hormuz. He emphasized that the Iraqi government must engage in dialogue with militia groups, reach mutual understanding, and resolve the weapons control issue through plans that serve Iraq's national and ethnic interests. Amadi added that Iran did not request Iraq to delay its national weapons control process.
14 minutes ago
Jiang Zhuoer: Beware of "serial liquidations" in extreme market conditions, advises using isolated margin mode for high-leverage trading
Jiang Zhuoer, founder of BTC mining pool B.TOP, posted that around 1:10 PM Beijing time today, the entire crypto market experienced a mini flash crash, with BTC, ETH and numerous altcoins seeing notable pin price movements. Even non-crypto assets such as crude oil also synchronized short-term sharp fluctuations. He advised against holding large high-leverage altcoin long positions in a unified account, as under cross-margin mode, a sudden 50% crash in a single coin could lead to insufficient account margin, triggering forced liquidation of other assets in the account. For high-leverage altcoin trading, he recommended using isolated margin mode to separate positions, preventing extreme moves in one coin from affecting the entire account. While isolated margin operations are relatively cumbersome, at minimum, in extreme market conditions, "only one position will be liquidated", reducing the risk of the entire account being wiped out instantly.
14 minutes ago
A mysterious crypto whale took advantage of market momentum to offload 7,700 BTC over the past three days.
According to Lookonchain’s monitoring, a mysterious whale has sold 2,700 BTC again, valued at roughly $211.8 million. The whale has sold a total of 7,700 BTC over the past three days, totaling around $576.6 million.
14 minutes ago
Bitmine’s unrealized losses on its Ethereum positions narrowed to $5.408 billion.
According to the latest holding data from Bitmine, the treasury firm holds a total of 5,815,164 Ether (ETH), with an average cost basis of $3,366 per ETH. At the current ETH price of $2,436, the total unrealized loss on its holdings has narrowed to $5.408 billion, after previously exceeding $10 billion at one point.
14 minutes ago
Iraq confirms some oil tankers have obtained passage permits for the Strait of Hormuz.
According to Al Arabiya TV, the Iraqi President stated: "We discussed with Iranian Parliament Speaker Mohammad Bagher Ghalibaf the issue of re-examining relations between Baghdad and Tehran. Currently, some ships carrying Iraqi oil have indeed been allowed to pass through the Strait of Hormuz. Given the current situation, I believe the United States wants to reach an agreement to end its conflict with Iran. It must be noted that we are among the countries most deeply affected by the war, and the government is doing its utmost to avoid getting involved in it." (Jinshi)
According to on-chain analytics firm Lookonchain, the trading performance of the address linked to prominent crypto figure "Big Brother Ma Ji" Andre Huang has reversed sharply recently. After experiencing nearly 500 liquidations, the account grew its funds from $152,000 to $12.8 million in just three days, generating over $12.6 million in profit. "Ma Ji" now appears to no longer need to sell BAYC NFTs to maintain its leveraged long positions. Previously, "Ma Ji" had repeatedly sold BAYC NFTs to add margin to sustain his ETH long positions on Hyperliquid, a move that drew market attention.
Top Loser in Binance's 30-Day Live Futures Trading Closes Out Short Positions, Incurring a Net Loss of $3.46 Million
According to on-chain analyst Ai Yi (handle @ai_9684xtpa)’s monitoring, Binance futures live trading account "Jiujiu Jin" ranks first on the platform’s 24-hour, 7-day, and 30-day loss leaderboards. The account once held a short position of 250 BTC with an average entry price of $63,592, and closed the position at an average price of $77,758.91 at 8:15 AM today, incurring a total loss of $3.46 million.
14 minutes ago
Iraqi President: Some ships carrying Iraqi oil have been cleared to transit the Strait of Hormuz.
According to CCTV News, Iraqi President Amadi stated on the 22nd local time that Iraq had previously held talks with visiting Speaker of Iran's Islamic Parliament Ghalibaf, and conveyed a message to Iran regarding a review of bilateral relations between Iraq and Iran. Amadi also said that some ships carrying Iraqi oil have been granted passage through the Strait of Hormuz. He emphasized that the Iraqi government must engage in dialogue with militia groups, reach mutual understanding, and resolve the weapons control issue through plans that serve Iraq's national and ethnic interests. Amadi added that Iran did not request Iraq to delay its national weapons control process.
14 minutes ago
Jiang Zhuoer: Beware of "serial liquidations" in extreme market conditions, advises using isolated margin mode for high-leverage trading
Jiang Zhuoer, founder of BTC mining pool B.TOP, posted that around 1:10 PM Beijing time today, the entire crypto market experienced a mini flash crash, with BTC, ETH and numerous altcoins seeing notable pin price movements. Even non-crypto assets such as crude oil also synchronized short-term sharp fluctuations. He advised against holding large high-leverage altcoin long positions in a unified account, as under cross-margin mode, a sudden 50% crash in a single coin could lead to insufficient account margin, triggering forced liquidation of other assets in the account. For high-leverage altcoin trading, he recommended using isolated margin mode to separate positions, preventing extreme moves in one coin from affecting the entire account. While isolated margin operations are relatively cumbersome, at minimum, in extreme market conditions, "only one position will be liquidated", reducing the risk of the entire account being wiped out instantly.
14 minutes ago
A mysterious crypto whale took advantage of market momentum to offload 7,700 BTC over the past three days.
According to Lookonchain’s monitoring, a mysterious whale has sold 2,700 BTC again, valued at roughly $211.8 million. The whale has sold a total of 7,700 BTC over the past three days, totaling around $576.6 million.
14 minutes ago
Bitmine’s unrealized losses on its Ethereum positions narrowed to $5.408 billion.
According to the latest holding data from Bitmine, the treasury firm holds a total of 5,815,164 Ether (ETH), with an average cost basis of $3,366 per ETH. At the current ETH price of $2,436, the total unrealized loss on its holdings has narrowed to $5.408 billion, after previously exceeding $10 billion at one point.
14 minutes ago
Iraq confirms some oil tankers have obtained passage permits for the Strait of Hormuz.
According to Al Arabiya TV, the Iraqi President stated: "We discussed with Iranian Parliament Speaker Mohammad Bagher Ghalibaf the issue of re-examining relations between Baghdad and Tehran. Currently, some ships carrying Iraqi oil have indeed been allowed to pass through the Strait of Hormuz. Given the current situation, I believe the United States wants to reach an agreement to end its conflict with Iran. It must be noted that we are among the countries most deeply affected by the war, and the government is doing its utmost to avoid getting involved in it." (Jinshi)
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.
Top Loser in Binance's 30-Day Live Futures Trading Closes Out Short Positions, Incurring a Net Loss of $3.46 Million
According to on-chain analyst Ai Yi (handle @ai_9684xtpa)’s monitoring, Binance futures live trading account "Jiujiu Jin" ranks first on the platform’s 24-hour, 7-day, and 30-day loss leaderboards. The account once held a short position of 250 BTC with an average entry price of $63,592, and closed the position at an average price of $77,758.91 at 8:15 AM today, incurring a total loss of $3.46 million.
4 minutes ago
Iraqi President: Some ships carrying Iraqi oil have been cleared to transit the Strait of Hormuz.
According to CCTV News, Iraqi President Amadi stated on the 22nd local time that Iraq had previously held talks with visiting Speaker of Iran's Islamic Parliament Ghalibaf, and conveyed a message to Iran regarding a review of bilateral relations between Iraq and Iran. Amadi also said that some ships carrying Iraqi oil have been granted passage through the Strait of Hormuz. He emphasized that the Iraqi government must engage in dialogue with militia groups, reach mutual understanding, and resolve the weapons control issue through plans that serve Iraq's national and ethnic interests. Amadi added that Iran did not request Iraq to delay its national weapons control process.
4 minutes ago
Jiang Zhuoer: Beware of "serial liquidations" in extreme market conditions, advises using isolated margin mode for high-leverage trading
Jiang Zhuoer, founder of BTC mining pool B.TOP, posted that around 1:10 PM Beijing time today, the entire crypto market experienced a mini flash crash, with BTC, ETH and numerous altcoins seeing notable pin price movements. Even non-crypto assets such as crude oil also synchronized short-term sharp fluctuations. He advised against holding large high-leverage altcoin long positions in a unified account, as under cross-margin mode, a sudden 50% crash in a single coin could lead to insufficient account margin, triggering forced liquidation of other assets in the account. For high-leverage altcoin trading, he recommended using isolated margin mode to separate positions, preventing extreme moves in one coin from affecting the entire account. While isolated margin operations are relatively cumbersome, at minimum, in extreme market conditions, "only one position will be liquidated", reducing the risk of the entire account being wiped out instantly.
4 minutes ago
A mysterious crypto whale took advantage of market momentum to offload 7,700 BTC over the past three days.
According to Lookonchain’s monitoring, a mysterious whale has sold 2,700 BTC again, valued at roughly $211.8 million. The whale has sold a total of 7,700 BTC over the past three days, totaling around $576.6 million.
4 minutes ago
Bitmine’s unrealized losses on its Ethereum positions narrowed to $5.408 billion.
According to the latest holding data from Bitmine, the treasury firm holds a total of 5,815,164 Ether (ETH), with an average cost basis of $3,366 per ETH. At the current ETH price of $2,436, the total unrealized loss on its holdings has narrowed to $5.408 billion, after previously exceeding $10 billion at one point.
4 minutes ago
Iraq confirms some oil tankers have obtained passage permits for the Strait of Hormuz.
According to Al Arabiya TV, the Iraqi President stated: "We discussed with Iranian Parliament Speaker Mohammad Bagher Ghalibaf the issue of re-examining relations between Baghdad and Tehran. Currently, some ships carrying Iraqi oil have indeed been allowed to pass through the Strait of Hormuz. Given the current situation, I believe the United States wants to reach an agreement to end its conflict with Iran. It must be noted that we are among the countries most deeply affected by the war, and the government is doing its utmost to avoid getting involved in it." (Jinshi)
Jiang Zhuoer: Beware of "serial liquidations" in extreme market conditions, advises using isolated margin mode for high-leverage trading
Jiang Zhuoer, founder of BTC mining pool B.TOP, posted that around 1:10 PM Beijing time today, the entire crypto market experienced a mini flash crash, with BTC, ETH and numerous altcoins seeing notable pin price movements. Even non-crypto assets such as crude oil also synchronized short-term sharp fluctuations. He advised against holding large high-leverage altcoin long positions in a unified account, as under cross-margin mode, a sudden 50% crash in a single coin could lead to insufficient account margin, triggering forced liquidation of other assets in the account. For high-leverage altcoin trading, he recommended using isolated margin mode to separate positions, preventing extreme moves in one coin from affecting the entire account. While isolated margin operations are relatively cumbersome, at minimum, in extreme market conditions, "only one position will be liquidated", reducing the risk of the entire account being wiped out instantly.
20 minutes ago
A mysterious crypto whale took advantage of market momentum to offload 7,700 BTC over the past three days.
According to Lookonchain’s monitoring, a mysterious whale has sold 2,700 BTC again, valued at roughly $211.8 million. The whale has sold a total of 7,700 BTC over the past three days, totaling around $576.6 million.
20 minutes ago
Bitmine’s unrealized losses on its Ethereum positions narrowed to $5.408 billion.
According to the latest holding data from Bitmine, the treasury firm holds a total of 5,815,164 Ether (ETH), with an average cost basis of $3,366 per ETH. At the current ETH price of $2,436, the total unrealized loss on its holdings has narrowed to $5.408 billion, after previously exceeding $10 billion at one point.
20 minutes ago
Iraq confirms some oil tankers have obtained passage permits for the Strait of Hormuz.
According to Al Arabiya TV, the Iraqi President stated: "We discussed with Iranian Parliament Speaker Mohammad Bagher Ghalibaf the issue of re-examining relations between Baghdad and Tehran. Currently, some ships carrying Iraqi oil have indeed been allowed to pass through the Strait of Hormuz. Given the current situation, I believe the United States wants to reach an agreement to end its conflict with Iran. It must be noted that we are among the countries most deeply affected by the war, and the government is doing its utmost to avoid getting involved in it." (Jinshi)
20 minutes ago
Arthur Hayes warns: FLOP has not yet been launched, and there is no presale or Meme coin.
BitMEX co-founder Arthur Hayes has issued a reminder that Flop Labs has not yet released its FLOP token, nor is there any presale or meme coin associated with the project. Hayes noted that FLOP is not officially live, and cautioned the community against mistaking related tokens circulating in the market for official assets. He added that Flop Labs plans to launch an airdrop in the coming months and roll out its mainnet next year. Earlier public information showed the project had previously targeted a large-scale airdrop in Q4 2026, with the mainnet genesis block set for Q1 2027. Hayes had earlier announced he would lead Flop Labs, which is designed to build economic infrastructure for AI Agents, with FLOP serving as the native asset for AI Agents to pay for resources such as computing power and storage.
20 minutes ago
US Treasury repurchase operations unexpectedly pushed Bitcoin’s price up 25%, triggering $4 billion in short-position liquidations.
After the U.S. Treasury expanded its long-term U.S. Treasury bond repurchase operations, the 30-year U.S. Treasury yield fell from a 19-year high of 5.34% to around 5.19%, while Bitcoin rose roughly 25% in several days, briefly topping $79,000. Around $4 billion in cryptocurrency short positions were liquidated during this period, further amplifying the rally. The U.S. Treasury had earlier announced it would raise the size of its longest-dated Treasury repurchase operations from $2 billion per operation to $4 billion. Analysts noted that this operation is not equivalent to the Federal Reserve’s quantitative easing (QE); its main function is to improve the liquidity of older bonds and optimize the debt structure, but the market views it as a policy support signal for long-term U.S. Treasury yields. Analysts believe the key driver of Bitcoin’s recent rally is not the repurchase operation itself, but the market’s prior over-concentration of short positions. As long-term U.S. Treasury yields fell, short sellers were forced to cover their positions, triggering a powerful short squeeze. Meanwhile, U.S. spot Bitcoin ETFs saw a net inflow of around $650 million this week, and Trump once again urged Congress to advance the CLARITY Act, further boosting market risk appetite. Jeff Ko, chief analyst at CoinEx, said the key now is whether Bitcoin can hold its 200-day moving average around $69,000 and turn it from resistance into support. Market participants also warned that if the 10-year U.S. Treasury yield re-breaks above 4.7% and the 30-year yield approaches 5.3%, Bitcoin’s current breakout could face renewed tests. Bitcoin has now broken above its 200-day moving average and continues to rise; the next phase of the market will focus on whether it can sustain its rally in a high-yield environment.
XRP staged one of its strongest daily gains in recent months, climbing nearly 10% and reaching the $1.40 area after spending much of August seeking the $1.00 milestone. This sharp rally saw the cryptocurrency surpass several key moving averages and major resistance points, strengthening its immediate technical outlook.
XRP recovers key resistanceThe most notable advance came as XRP broke above the critical $1.16 resistance as well as short-term averages near $1.09. The price temporarily moved past the long-term moving average, which had previously acted as dynamic resistance during the extended downtrend, topping $1.34 at its peak.
Maintaining levels above $1.34–$1.35 could prove far more important to sustaining this uptrend than the initial surge. An established daily close above this region may open the door to the $1.45–$1.50 zone and turn the long-term moving average into a floor. The former consolidation area around $1.55 could become relevant if the momentum persists.
Trading volume added further confirmation, with daily turnover jumping to approximately 277 million, notably higher than in previous sessions. The daily relative strength index (RSI) spiked to around 83, placing XRP in distinctly overbought territory.
XRP’s short-term outlook has improved after the break above $1.34. Still, momentum readings suggest rising risks as the rally becomes increasingly stretched.
Analysts cautioned that while strong rallies can keep assets overbought for a while, the risk of a pullback grows. A retracement to $1.34 could be constructive if bulls defend that level; losing it may deepen the retest toward $1.16.
AssetCurrent PriceKey ResistanceKey SupportCurrent RSIXRP$1.40$1.45–$1.50$1.34, $1.1683SHIB$0.00000523$0.0000057–$0.0000058$0.000005, $0.0000046567.8DOGE$0.087$0.09–$0.095$0.080, $0.072–$0.07377.7HYPE$76$76–$78$68–$70, $60–$6178SHIB aims for bullish reversalShiba Inu (SHIB) advanced about 5.7% to $0.00000523, seeking to turn a recent bounce into a true trend reversal. After clearing the essential $0.000005 marker, SHIB’s technical structure has improved, highlighted by a break above the orange moving average near $0.00000489 and clearing short-term averages at $0.00000452–$0.00000465.
Trading activity surged as volume reached nearly 1.53 trillion SHIB. The price rise, combined with increased volume, reinforced the significance of the move, contrasting with the quieter period earlier in August. However, SHIB faces stiff resistance at $0.0000057–$0.0000058, near the downward-sloping long-term moving average of $0.00000574.
The RSI currently sits at roughly 67.8, just shy of the typical 70 overbought threshold. Compared to XRP, SHIB still has room for growth if momentum picks up. Breaking and securing $0.0000057 as support would put the March–May consolidation zone near $0.0000060 into focus for the bulls.
SHIB’s breakout over key averages and the $0.000005 level signals a potential bullish shift, but confirmation above $0.0000058 remains vital for a true reversal.
A failure to hold $0.000005 may weaken SHIB’s setup, returning focus to $0.00000465 and $0.0000045 as support.
HYPE tests yearly highsHyperliquid (HYPE) surged toward $76 in a strong daily move, essentially erasing losses from the August decline. The asset has returned to the upper edge of its 2026 trading range and is challenging previous highs between $76 and $78, lending further technical significance to the rally.
HYPE’s recovery is supported by reclaiming all major moving averages on the daily timeframe. The intermediate average near $57.70 and short-term support between $60.50 and $60.70 reinforce the uptrend, while a long-term average at $51.90 sits further below.
Compared to the earlier August correction, HYPE’s rebound comes with a stronger structure and increasing, though still moderate, trading volume. If buyers can secure a daily close above $76–$78, the token may enter price discovery mode, targeting $80 in the near term.
Momentum remains the main risk factor, with a daily RSI of about 78 marking very overbought conditions. Some cooling or a pause would be typical before further upside, while support at $68–$70 and then $60–$61 provide downside protection.
Hyperliquid is a decentralized derivatives trading platform offering perpetual contracts and spot trading for a wide range of digital assets.
Mini dictionary: Hyperliquid, a decentralized exchange specializing in derivatives and spot trading, uses advanced on-chain order book architecture to provide high-speed, gas-free trading for digital assets.
DOGE breaks out, eyes key resistanceDogecoin (DOGE) jumped roughly 4% to about $0.087, producing a clear breakout from the compressed trading structure that defined August. The move propelled DOGE past several important resistance zones that had weighed on the price near yearly lows.
A sustained recovery of short-term averages at $0.072 and a subsequent surge past the intermediate average at $0.080 marked the start of this breakout, with trading volumes climbing to 1.07 billion DOGE. This significant volume shift contrasts with the subdued activity earlier in the month, providing essential confirmation for the rally.
DOGE now faces new technical hurdles, trading below its primary dynamic resistance at the long-term moving average near $0.095. This level also aligns with a previous consolidation zone between $0.09 and $0.10.
Momentum indicators now reflect a stretched market, with DOGE’s daily RSI surging to 77.7. If the $0.09–$0.095 range is cleared and held, further gains to $0.10 or even the May highs around $0.11–$0.115 become possible. If momentum slows, defending $0.080 is now crucial for bulls.
While DOGE’s breakout is impressive, restoring the broader bullish structure depends on a decisive reclaim of $0.095; support sits strongest at $0.072–$0.073.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Hyperliquid, a decentralized perpetual futures exchange, reported significant growth in fee revenue for August, marking a 31% increase compared to the previous year. This surge is attributed to higher volume, an increase in active users, and an expanded market share. The exchange’s native asset, HYPE, has seen a notable upward movement, reflecting positive market sentiment and increased on-chain activity. The latest data suggests that HYPE’s price hovers around $73.53.
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In the prediction market, the odds for Hyperliquid reaching $100 by the end of 2026 have increased, suggesting a more optimistic outlook from market participants. The current pricing shows a 42.5% chance of Hyperliquid reaching the $100 mark by December 31, up from 16% a week ago. This change is supported by the recent financial results, which appear consistent with the scenario where Hyperliquid continues its upward trajectory.
Key Takeaways Market activity suggests that participants view Hyperliquid’s recent performance as supportive of a YES outcome for reaching $100 by year-end. The 31% year-over-year increase in fee revenue appears consistent with positive sentiment towards Hyperliquid’s growth prospects. HYPE’s price increase and market dynamics may indicate strengthened confidence among participants in the decentralized perpetuals sector. What to Watch Watch for upcoming developments, such as potential announcements of partnerships or new integrations that could further influence Hyperliquid’s competitive position. Additionally, any shifts in market share or changes in user engagement metrics could impact the prediction market’s current outlook. The evolving sentiment around Hyperliquid’s performance will be crucial in determining future price movements and market expectations.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 42.5% — — View market → January 1 2027 3.6% — — View market → January 1 2027 2.9% — — View market → January 1 2027 82% — — View market → January 1 2027 5.7% — — View market → January 1 2027 3.1% — — View market → January 1 2027 54.5% — — View market →
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.
Per monitoring by TradingBeats (formerly Hyperinsight), the 0x92-starting address belonging to Garrett Jin, agent of the "BTC OG Insider Whale", is set to break even after holding a long position for three months. The long position was opened on May 20 at an average price of $76,117. At Bitcoin’s current price of $75,810, it only needs the cryptocurrency’s price to rise by roughly $300 to reach break-even. However, strictly speaking, since the address has already paid $1.41 million in funding fees for the long position, fully recouping its costs will require further upside in Bitcoin’s price.
Coinbase’s Vice President of Product Has Resigned, Previously Overseeing Resolution of User Account Restrictions.
Coinbase Product Vice President Dor Levi has announced August 21 will be his final workday at the firm, with no immediate details on his next career move disclosed. Levi joined Coinbase in 2025, leading the Product Foundations function and driving efforts to resolve account restrictions and freezes that have long plagued the platform’s users.
7 hours ago
Bitcoin's Ahr999 indicator has exited the "buy-the-dip zone", with this round's dip-buying window lasting approximately 82 days.
According to third-party data, as Bitcoin continues its current rally, the Ahr999 "bottom-fishing" indicator has entered the "dollar-cost averaging (DCA) range", now standing at 0.5073. Looking back at the Ahr999 "bottom-fishing" signal for this cycle, its window period (May 29 to August 19 this year, when the indicator was below 0.45) lasted roughly 82 days. BlockBeats Note: The Ahr999 indicator assists Bitcoin DCA users in making investment decisions by combining timing strategies. It reflects the returns of short-term Bitcoin DCA and the deviation between Bitcoin's price and its expected valuation. Historically, the Ahr999 index has remained below the bottom line (0.45) for 655 days in Bitcoin's history.
7 hours ago
Goldman Sachs: Surge in demand for gold call options may amplify gold price volatility.
Goldman Sachs analysts noted in a report that surging demand for gold call options has amplified the risk of sharp swings in gold prices. Analysts including Lina Thomas wrote in the report that the rise in gold call option trading volume has formed a "price amplification mechanism for two-way volatility" in gold prices. "Therefore, we still maintain our forecast that gold will reach $4,900 per ounce by the end of 2026, though this projection faces notable upside risks, and gold prices are also subject to greater two-way volatility."
7 hours ago
Iran's Foreign Minister: US Economic Pressure on Iran 'Doomed to Fail'
Iranian Foreign Minister Araghchi posted on social media that all sanctions and pressure policies imposed by successive U.S. administrations on Iran have failed, and the latest U.S.-announced economic pressure campaign against Iran is also "doomed to fail". Araghchi reviewed a series of U.S. policies targeting Iran in recent years in his post. He noted that 14 years ago, the U.S. claimed to impose "the harshest sanctions in history" on Iran; 8 years ago, it implemented "maximum pressure" on Iran; and 5 months ago, it demanded Iran's "unconditional surrender"—all of these policies ultimately ended in failure. In response to U.S. President Trump's recent announcement of taking "the most devastating economic actions against a country in history" against Iran, Araghchi stated that this move is also "doomed to fail". He also criticized that successive U.S. administrations have made no substantial changes to their Iran policies. Araghchi said: "We have seen this play before—same lies, just a new set of bullies." (CCTV News)
Fee Revenue Climbs on Broader Platform GrowthHyperliquid (@HyperliquidX), the decentralized perpetual futures exchange, reported a 31% year-over-year increase in August fee revenue, driven by rising trading volumes and a growing user base.
The platform has steadily expanded its footprint in the decentralized derivatives market. That figure is up sharply from
A key driver of the broader fee growth has been Hyperliquid's HIP-3 markets, which allow traders to gain exposure to real-world assets without leaving the platform.
HYPE Token Surges Alongside Onchain ActivityThe protocol's native token $HYPE has responded to the stronger onchain activity. As of the time of writing, HYPE is trading near $74, up approximately 27% over the prior two days, reflecting renewed investor interest in the platform's growth trajectory.
Part of the token's appeal lies in how the protocol handles its fee income.
The exchange's broader market position also underpins the positive sentiment. The platform continues to command a dominant share of decentralized perpetuals,
Looking ahead, Hyperliquid is also positioning for further product expansion.
Sources:
21Shares: Hyperliquid H1 2026 Earnings and Fee Revenue Analysis
Crypto Times: Hyperliquid Active Traders Hit All-Time High
CoinGecko: Hyperliquid Exchange Statistics
Hyperliquid’s native token, HYPE, has reached a new all-time high, reflecting increased interest and optimism in the decentralized perpetuals exchange. The previous peak for HYPE was set in mid-June, indicating a significant rebound rather than a first-time high. The surge is attributed to multiple factors, including institutional capital inflows, buyback and burn mechanisms, and regulatory optimism surrounding the platform’s potential U.S. compliance. As a result, HYPE remains a prominent asset in the DeFi and DEX governance space, commanding a multi-billion-dollar market valuation.
Key Takeaways The new all-time high for Hyperliquid’s HYPE token suggests heightened market interest and sustained growth potential. Market pricing appears supportive of a YES outcome for HYPE reaching $100 by the end of 2026, with odds increasing from 38% to 44.5% in recent days. Institutional inflows and regulatory optimism are consistent with scenarios where HYPE continues to experience significant price appreciation. What to Watch Watch for further developments around regulatory approvals and institutional partnerships, as these could drive additional momentum for HYPE. Close attention should be paid to any announcements from major crypto exchanges or financial institutions that might affect market perceptions. The coming months will be critical in determining whether HYPE can maintain its upward trajectory and possibly achieve the $100 target by the end of 2026.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 48% — — View market → January 1 2027 3.6% — — View market → January 1 2027 2.9% — — View market → January 1 2027 82.5% — — View market → January 1 2027 4.6% — — View market → January 1 2027 3.1% — — View market → January 1 2027 55% — — View market →
Hyperliquid climbed about 5% to above $77 on Friday morning, setting a new record high as bullish sentiment around HYPE continued to strengthen following a mention by President Donald Trump and a strong crypto market recovery.
The digital asset has gained nearly 200% since the start of the year, even as much of the market remains in the red. Bitcoin has dropped around 12% year-to-date, while Ethereum has suffered a decline of about 20%.
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Speaking at a White House event this week, Trump said the US is working to bring Hyperliquid into the country in a “fully compliant and legal fashion”. Trump said CFTC Chairman Michael Selig is “working very hard” on the effort.
Hyperliquid has built a major market around perpetual futures, allowing traders to take leveraged positions without traditional expiration dates. Its blockchain-based platform has also attracted activity in contracts linked to traditional assets such as stocks and commodities. It currently operates outside the US and does not officially serve American traders.
The prospect of a US launch immediately boosted assets tied to the ecosystem.
HYPE rose following Trump’s remarks, while Hyperliquid Strategies, whose treasury strategy centers on accumulating HYPE, surged as much as 31%. Traditional exchange operators Cboe and CME fell sharply, suggesting investors viewed potential US access for Hyperliquid as a competitive threat.
A US launch would give Hyperliquid access to a larger customer base and capital. The biggest question is how the platform’s decentralized model would fit within US requirements.
US regulators are creating clearer rules for crypto derivatives and perpetual contracts, but applying those rules to Hyperliquid could require changes that affect its current operating model.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
The Hyperliquid Policy Center released a new research report stating that perpetual contracts act as an effective complement to traditional delivery futures. By analyzing weekend trading data of 205 Bitcoin and 19 on-chain crude oil contracts, the report found that perpetual contracts eliminate forced rollover costs, lower the crude oil trading threshold to 1/100 of that of traditional WTI, and deliver accurate price discovery functions during non-trading hours of traditional markets. The policy center also cited data to prove that the growth of the perpetual market has not caused statistically significant harm to existing benchmark markets.
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.
Coinbase’s Vice President of Product Has Resigned, Previously Overseeing Resolution of User Account Restrictions.
Coinbase Product Vice President Dor Levi has announced August 21 will be his final workday at the firm, with no immediate details on his next career move disclosed. Levi joined Coinbase in 2025, leading the Product Foundations function and driving efforts to resolve account restrictions and freezes that have long plagued the platform’s users.
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Bitcoin's Ahr999 indicator has exited the "buy-the-dip zone", with this round's dip-buying window lasting approximately 82 days.
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Hyperliquid (CRYPTO: HYPE) could emerge as one of crypto’s strongest performers in a bull market after outperforming during the downturn, with U.S. access as another bullish catalyst cited by analysts.
What Will Drive HYPE?"HYPE was the best-performing asset in the bear market," pseudonymous veteran trader Pentoshi said in an X post on Aug. 21, as the token gained 33% over the past three months.
Hyperliquid Strategies Inc (NASDAQ:PURR) surged 26% during the same period.
By comparison, major cryptocurrencies Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and XRP (CRYPTO: XRP) rose between 1% and 15% over the same period.
HYPE could be among the strongest performers in a bull market as well thanks to Hyperliquid’s direct exposure to crypto trading activity, according to Pentoshi.
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If crypto markets turn bullish, trading volumes should rise, increasing fees generated by the platform.
The trader noted that 99% of those fees go toward HYPE burns, linking greater activity to reduced token supply.
Another catalyst arrives in less than a week with Aqav2, which Pentoshi expects to generate roughly $500,000 to $600,000 in additional daily fees for HYPE burns.
He argued that increased on-chain adoption could potentially double that figure to around $1 million per day.
Pentoshi said the token needs to decisively clear its previous peak but believes it is not far from entering price discovery, potentially with regulatory tailwinds supporting the move.
How U.S. Regulation Could Open HyperliquidBlockworks analyst Shaunda Devens said ion Friday that Hyperliquid could gain U.S. access, which would allow regulated firms to build on it while handling KYC, market surveillance and customer protections.
This could give compliant U.S. investors access without forcing Hyperliquid’s underlying permissionless protocol to become a traditional regulated exchange.
The Hyperliquid Policy Center is pushing regulators to treat Hyperliquid as neutral financial infrastructure, with regulated firms responsible for compliance.
The approach gained momentum after President Donald Trump said CFTC Chairman Michael Selig was working to bring HYPE into the U.S. legally and in full compliance.
PANews reported on August 22 that Blockworks Research analyst Shaunda Devens said Kraken may be testing new compliance-oriented features of Hyperliquid HIP-3 (Builder-Deployed Perpetuals) and could become one of the first centralized trading platforms to explore the mechanism.
Shaunda noted that Hyperliquid has recently continued to add features supporting compliant deployment on its testnet, including wallet whitelist management, canceling user orders, closing positions via reduce-only orders, and adjusting user collateral, among other permission controls. These features correspond to the risk management capabilities required by traditional financial institutions and regulated trading platforms.
According to observations, a deployer named “Kraken HIP-3 test DEX” has enabled permission control functionality (Star gating) on the Hyperliquid testnet and went live on August 19. So far, this test DEX has completed whitelist settings for 10 wallets, tested 3 of the 5 permission controls, and registered “Kraken Exchange Validator.”
Shaunda said that while it is still at the testing stage and any user can permissionlessly deploy a DEX under any name, it cannot be confirmed that this test project belongs to Kraken. However, given Hyperliquid’s recent expansion of xStocks functionality on HyperCore and the related initiatives by Payward (Kraken’s parent company), the company behind xStocks, she tends to believe Kraken may be testing HyperCore’s latest permissioned trading infrastructure.
HIP-3 is a framework launched by Hyperliquid for third-party deployment of perpetual contract markets, allowing developers to create independent perpetual trading markets based on the HyperCore order book system. Market participants believe that if compliant trading platforms such as Kraken join, it will further push on-chain derivatives toward institutional-grade trading infrastructure.
Bitcoin is surging again. The cryptocurrency climbed above $78,200 on Friday for the first time since May. But it wasn’t the only crypto asset posting big gains. Hyperliquid, the decentralized perpetual futures exchange, reached a record $75, leaving its HYPE token up over 195% so far this year, according to CoinGecko.
Hyperliquid’s gains have drawn market share that might otherwise have flowed into Bitcoin, according to Ish Asad, a research analyst at crypto index fund manager Bitwise Investments.
“If Hyperliquid and perpetual futures weren’t so popular, people would just be buying spot Bitcoin,” Asad told Fortune.
Hyperliquid, which lets users trade through self-custody wallets rather than a traditional centralized exchange, has emerged as a major force in crypto derivatives trading over the past year. During the first quarter of 2026, the platform processed more than $633 billion in combined spot and perpetual futures volume, over six times its total during the second quarter of 2024, according to investment manager VanEck.
Its growing success has “sucked away volume” from direct purchases of smaller crypto tokens. Perpetual futures let traders speculate on a cryptocurrency’s price, often with leverage, without buying or holding the token itself, making the platform attractive to active traders.
“All the crypto trading happens on Hyperliquid now, so most of the other crypto assets are getting less buying pressure,” Asad added.
Hyperliquid’s most recent price jump came two days after President Donald Trump said his administration was working to bring the platform to the U.S.
“I understand that [Commodity Futures Trading Commission Chair] Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion, working very hard on that,” Trump said at a White House event.
Behind the rally Despite Hyperliquid drawing some capital away from direct Bitcoin purchases, the cryptocurrency still gained nearly 25% over the past week. Macro factors, including the Treasury Department’s recent bond-buyback announcement, helped set the rally in motion, but Asad said liquidations drove Bitcoin’s most recent surge.
On Tuesday, as Bitcoin traded around $64,000, traders liquidated $1.3 billion in short positions in a single day. Another $1 billion in Bitcoin shorts were liquidated over the following 48 hours, bringing the week’s total to $4.5 billion, according to Bitwise.
Political developments also helped support the rally. At a meeting with crypto industry leaders this week, Trump urged Congress to pass the Clarity Act, a bill that would establish a long-awaited market structure framework for digital assets. On Thursday, Selig said he had directed the CFTC to begin developing clearer crypto rules if Congress does not pass the legislation before the end of the year.
In the meantime, worries over U.S. debt surpassing $40 trillion and a weakening U.S. dollar have renewed investor interest in alternative assets such as gold and Bitcoin.
HYPE confronted intensifying distribution as substantial $77.38 million in institutional and whale sales challenged its recovery near the $75 resistance.
As reported by Lookonchain, whales and institutions had sold 871,000 HYPE worth $64.82 million through FalconX within six hours. Earlier, a wallet associated with Syncracy moved 89,470 HYPE tokens valued at $6.6 million to Wintermute, presumably to be sold.
Another whale moved approximately $5.96 million HYPE across GSR Markets, Cumberland, and OKX.
Combined, those transactions introduced roughly $77.38 million in potential large-holder supply around HYPE’s recovery.
Significantly, the group of transfers had formed at a key resistance level of $75 near the price. Such concentration increased the burden on buyers because substantial liquidity had reached market-facing venues.
Exchange inflows amplify the supply challenge Exchange flows reinforced the sell pressure created by the whale and institutional transactions. Hyperliquid [HYPE] had recorded approximately $9.66 million in positive Spot Netflow at the time of writing.
The positive reading meant that more exchange inflows occurred, which boosted the amount of HYPE around trading venues. Hence, the flow direction aligned with the broader distribution pattern rather than offsetting it.
Notably, significant negative netflows can be observed in earlier periods, with significant spikes in outflow observed in June. However, the latest positive reading marked a notable change around the token’s resistance test.
Persistent inflows would increase available supply and make a clean $75 breakout harder to sustain.
However, a resumption of outflows would relieve the supply pressure on exchanges and help to maintain a recovery structure in HYPE.
Source: CoinGlass Whale demand loses ground against retail Large-holder participation had also weakened relative to retail activity during the latest market phase. The Whale versus Retail Delta had dropped to -0.006 on 21 August.
Previous positive readings had been accompanied by increased whale participation during HYPE’s recovery from lows in August. However, the new dip below zero showed that the tide was beginning to turn against whales.
Importantly, the reversal coincided with significant institutional sales and higher inflows into the exchanges. These metrics together strengthened the case for increasing large-holder supply rather than renewed whale accumulation.
Retail participation could still absorb some distribution if broader demand remained sufficiently strong. However, retail buyers would be left with a greater share of the burden of demand in the case of a prolonged negative whale delta.
A further degradation of the delta would therefore strengthen HYPE’s vulnerability near its current resistance zone.
Source: CoinGlass Can overbought HYPE conquer $75? On the daily TradingView chart, HYPE price recently jumped from the $53.67 support level to the $75 resistance level, before settling at HYPE at $72.40. However, the rapid advance pushed RSI to 72.67, placing the indicator above its overbought threshold.
Meanwhile, MACD had maintained a bullish pattern despite the factory’s supply pressure. The MACD line had crossed to 2.66 while its signal line remained close to 2.25.
Its histogram was still positive, around 0.40, and indicating the strength of the previous recovery. However, the RSI was overbought, meaning there was a higher risk of sellers getting exhausted at resistance.
Ultimately, a decisive break above $75 would strengthen the price structure and potentially open the path toward $90.
However, failure to absorb supply could instead expose $61.69, with $53.67 remaining the deeper structural support.
Source: TradingView Final Summary HYPE’s $75 resistance faces growing pressure as whales move substantial supply toward markets. Buyers must absorb rising exchange supply to protect HYPE’s recovery above $61.69.
After spending the majority of August working toward $1.00, XRP has made one of its strongest daily moves in months, rising by about 10% and hitting the $1.40 region. Although the move has already reached technically overheated territory, the breakout significantly improves the short-term structure.
XRP is finally backThe most significant development is that XRP recovered multiple moving averages in a single session. The price has broken through the major resistance near $1.16 and the short-term averages around $1.09. More significantly, XRP momentarily surpassed the long-term moving average, which had served as dynamic resistance during the larger decline, at $1.34.
XRP/USDT Chart by TradingViewTherefore, holding above roughly $1.34–$1.35 would be far more crucial than the actual spike. A verified daily close above this area could open the path toward $1.45–$1.50 and turn the long-term average into support. The previous consolidation zone around $1.55 becomes significant after that.
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Significant confirmation is provided by volume. The move appears to be supported by real market participation rather than thin liquidity, as the breakout coincided with roughly 277 million in daily volume, significantly higher than in recent sessions. Momentum is a concern. The daily RSI has surged to about 83, well inside overbought territory.
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During a powerful rally, XRP may continue to be overbought, but it becomes riskier to pursue further upside. Thus, a pullback to $1.34 would be advantageous. XRP may develop an entirely new short-term structure if that level is maintained. Losing it would make a deeper retest toward $1.16 more likely.
Shiba Inu Pushes ThroughWith SHIB rising by about 5.7% to roughly $0.00000523, Shiba Inu is trying to turn its recent recovery into a proper trend reversal. The move continues the breakout above the crucial $0.000005 level, both technically and psychologically. The immediate technical situation has significantly improved.
SHIB has now broken through the orange moving average near $0.00000489 after rising above its short-term moving averages around $0.00000452–$0.00000465. The current breakout is especially significant because that latter level had consistently limited attempts at recovery. Additionally, trading volume has increased significantly, reaching about 1.53 trillion SHIB.
SHIB/USDT Chart by TradingViewThe breakout signal is strengthened when rising prices are accompanied by increased volume, which also distinguishes the current move from the low-volume consolidation that occurred earlier in August. Nevertheless, SHIB continues to confront a significant challenge in the $0.0000057–$0.0000058 region.
The long-term moving average is still sloping lower and is currently close to $0.00000574. If that level is broken, there will be much more evidence that SHIB is moving away from its broader bearish structure.
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Another significant boundary is being approached by momentum. Just below the traditional overbought threshold of 70, the RSI has increased to roughly 67.8. SHIB has some potential for growth because, in contrast to XRP, it has not yet reached an extreme momentum reading. In the current bullish scenario, SHIB must challenge $0.0000057 and keep $0.000005 as support.
The former March–May consolidation area, starting at $0.0000060, might be reached by a breakout there. $0.00000465 and $0.0000045 would become the main support levels if $0.000005 were not held, significantly weakening the setup.
Hyperliquid's StrengtheningAfter an explosive daily move that drove HYPE toward $76, Hyperliquid has returned to the upper limit of its 2026 trading range. The asset has erased almost all of the August correction and is once again challenging its previous highs around $76–$78, making the recovery technically significant.
Compared to the early August decline, the structure supporting the move is significantly stronger. On the daily chart, HYPE has recovered all of the major moving averages. Currently, the intermediate moving average near $57.70 offers an additional layer of support, while short-term support is located between $60.50 and $60.70. At roughly $51.90, the long-term average remains significantly lower.
HYPE/USDT Chart by TradingViewBecause of this arrangement, the overall trend remains positive. In comparison to the larger 2026 structure, HYPE's correction toward $52 earlier this month ultimately resulted in a higher low, followed by a swift recovery. Although it is still below the extraordinary activity seen during previous significant moves, volume has also increased during the most recent breakout attempt.
The $76–$78 range is therefore especially crucial. HYPE would enter price discovery if there were a clear daily close above it, with $80 serving as the initial psychological target and minimal historical resistance just above. The primary short-term risk is created by momentum.
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With a daily RSI of about 78, HYPE is firmly in overbought territory. Therefore, some cooling or consolidation would be typical without invalidating the breakout. The first significant retracement zone is between $68 and $70 if buyers fail at $76 to $78. The critical support area is between $60 and $61 below that. HYPE's broader bullish structure holds as long as it stays above those moving averages.
Dogecoin Needs More FuelDogecoin has finally produced a significant breakout from its compressed August structure, rising by about 4% to approximately $0.087 on the current daily candle. More significantly, DOGE has overcome a number of resistance levels that had trapped the asset near its annual lows.
The short-term moving averages' recovery at $0.072 is the first significant shift. After that, DOGE accelerated through the intermediate moving average around $0.080, transforming a slow rebound into a real breakout attempt. Alongside the move, trading volume increased significantly, hitting about 1.07 billion DOGE on the chart.
DOGE/USDT Chart by TradingViewFollowing weeks of comparatively weak activity around $0.07, that volume confirmation is important. But now DOGE has reached a more challenging technical area. The asset is still trading below its main dynamic resistance, as the long-term moving average sits at $0.095.
Additionally, this level roughly aligns with the previous February–May structure between $0.09 and $0.10. Momentum has already been stretched. The daily RSI has surged to roughly 77.7, compared to its moving average of about 51.3. As a result, DOGE quickly transitioned from neutral momentum to overbought conditions.
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Thus, $0.09–$0.095 is the immediate test. If this area is broken and held, $0.10 and the May region around $0.11–$0.115 may be exposed. In the event that momentum wanes, bulls must first defend $0.080.
The strongest nearby support remains the $0.072–$0.073 cluster below it. Although the breakout is significant, the larger bearish structure cannot be deemed seriously damaged until DOGE regains $0.095.
During the White House meeting on crypto and financial technology innovation, a single regulatory comment was enough to send Hyperliquid [HYPE] sharply higher.
U.S. President Donald J. Trump stated that CFTC Chairman Mike Selig is working on bringing Hyperliquid into the United States under a compliant framework. Traders reacted quickly to this news, sending HYPE up to $72.30. This was a 20% surge from roughly $59.
Source: X That reaction was in correlation with a significant spike in trading volume, which has caused the stock price to rise aggressively towards the $72.50 resistance.
Source: HYPE/USD on TradingView That level matters because HYPE repeatedly failed around the same area before falling toward $52. Meanwhile, at press time, the RSI indicator reached 84.89, its highest reading since early May.
Thus, the regulatory repricing of HYPE currently faces a test based upon a technical standpoint. If HYPE can hold above $69-$70, it will help maintain its breakout structure. However, if HYPE fails again at the $72.50 resistance point, it would leave the broader range unresolved.
HYPE’s rally reshapes major whale positions The regulatory-driven rally has also created a sharp divide between traders positioned on opposite sides of HYPE.
In light of this, one trader is holding a long position that they had put on prior to the White House meeting with approximately $43 million in unrealized profit. This left the community with questions regarding the position, if it was insider trading.
Source: X On the other hand, Loracle’s 685,740 HYPE short, worth about $47.79 million, has been sharply negatively affected by the recent rally.
As such, Loracle currently faces approximately $10.95 million in unrealized losses for their short positions. Moreover, they may face additional loss if their position is forced into liquidation at $87.607.
Source: X This contrast matters because further gains increasingly pressure bearish leverage rather than merely rewarding existing longs. Therefore, continued buying could force shorts to reduce exposure, adding demand.
However, stalled momentum would ease that pressure and allow underwater positions more room to remain open.
Can HYPE target $75 next? The pressure on bearish traders has already spilled into broader liquidations, showing how leverage amplified HYPE’s initial rally. As of writing, total liquidations reached $54.4 million, with shorts accounting for $48.16 million versus $6.25 million in longs.
Source: CoinGlass That imbalance helps explain the rapid jump from roughly $63 toward $69, as forced short closures added buying pressure. However, HYPE now trades near another concentrated liquidity area around the $72–$73 zone.
Source: CoinGlass Still, if HYPE can clear that cluster of liquidations, it may add additional short liquidations and make the push to $75.
Yet the rally becomes more dependent on fresh demand once forced buying fades. If buyers fail to maintain pressure, the $66–$68 liquidity zone becomes the nearest area where price could retrace.
CME Group CEO Terry Duffy told the Commodity Futures Trading Commission (CFTC) it clears contracts that traders can rig. Chairman Michael Selig cut him off and called the claim fake news.
The exchange happened Thursday in Washington, at the first meeting of the CFTC’s Innovation Advisory Committee. Duffy runs the largest futures exchange in the world. Selig regulates it.
2,500 Filings and Zero ObjectionsSelig built the 35-member committee in February. Its roster includes the chief executives of Kalshi, Polymarket and DraftKings. Thursday’s agenda covered crypto, artificial intelligence and event contracts.
Duffy used his turn to attack the last one.
Roughly 2,500 self-certifications have landed at the agency since January 2025, he said. None were opposed.
Self-certification is the fast lane. An exchange files a contract, attests that it follows the law, and lists it. Nobody has to approve it.
Duffy said some of those filings break core principle 3. That rule bars any contract that traders can readily manipulate.
There is a structural reason few filings get challenged. Selig is the only sitting commissioner at the CFTC. Four of the agency’s five seats are empty.
“We’re not a bunch of carnival barkers at a circus. We are running the most envious markets in the world in the United States of America.”
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Selig Calls It Fake News, But The Record Is MessierDuffy raised two cases.
In the first, a Fort Bragg soldier named Gannon Van Dyke turned $33,034 into $409,881 on Polymarket. He bet on whether US forces would enter Venezuela. He also held classified details of the raid that captured Nicolás Maduro. Prosecutors charged him in April.
In the second, Trump’s teleprompter operator Gabriel Perez cleared more than $100,000 on Kalshi. He traded on what the president would say. Investigators found bets on more than a dozen speeches.
Selig cut in before Duffy finished.
“…those products are not listed in the United States. They never were. This occurred offshore, and that’s fake news.”
Duffy called that a cute comment. He granted that the Maduro market was Polymarket’s, which trades offshore.
The teleprompter case is different. Those trades ran on Kalshi, an exchange the CFTC itself designates and oversees. Kalshi’s own surveillance team flagged the activity and reported it to the agency.
So one example landed offshore. The other did not.
Kalshi Trades Compute Today. CME Waits for October.Duffy then moved to timing, and the complaint got sharper.
Kalshi already runs markets on the cost of renting Nvidia chips. It launched them in July.
CME wants in on the same trade. On August 11 it said it would list rental futures for Nvidia H100 and B200 chips. Its partner is Silicon Data, a firm backed by trading house DRW. Target date, October 5, pending review.
Then the agency opened a consultation. On August 19 it asked the public to comment on compute derivatives for 60 days.
Count the days. A 60-day window starting from Federal Register publication closes after October 5.
DRW founder Don Wilson, also on the committee, asked why compute needed 60 days at all.
Duffy added a second detail. Cantor Fitzgerald had opened institutional trading in Kalshi contracts hours earlier. “Let’s call that a coincidence,” he said.
Cantor Fitzgerald plans to give investment funds access to Kalshi’s prediction markets, arranging block trades on everything from weather forecasts to iPhone sales https://t.co/kb4dzux7m1
— WSJ Markets (@WSJmarkets) August 19, 2026
Cantor’s announcement covered event contracts broadly and never mentioned compute.
The Man Attacking Self-Certification Once Used ItDuffy’s frustration is not abstract. His own filings keep stalling.
In July the agency froze CME’s 24-hour crude oil contract while a rulemaking ran. Selig called the timing wholly inappropriate. That comment period closes on August 26.
CME has already gone to court. On June 18 it sued the CFTC over Kalshi’s Bitcoin perpetual contract, arguing the agency rubberstamped Kalshi’s reasoning. Those perps cleared $1 billion in volume in their first week.
Duffy also pressed on offshore venues. Traders in the US cannot legally touch them, he said, yet they get there anyway. He asked what the commission is doing to “police everybody’s VPN.”
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He named Hyperliquid. President Donald Trump had floated bringing Hyperliquid onshore at a White House crypto summit the previous day.
One point cuts against Duffy. CME self-certified its own Bitcoin futures in December 2017, using the same fast lane he now calls dangerous. Duffy signed the announcement.
He closed on 2008. Bad behavior in finance does not cost the industry one step, he said. It costs 20, and the rebuild takes years.
Duffy hands the CEO job to Lynne Fitzpatrick in March 2027. The committee he was addressing cannot write rules. Selig can, alone, and two of his clocks run out within weeks.
