When SpaceX went public, the only place most of the world could short it was Hyperliquid, where a perpetual future tracked the IPO of the decade tick for tick, and a whale ran a $14 million leveraged short no brokerage would have offered. Equity perps are the first crypto product Wall Street cannot ignore, and regulators cannot place, and this is the audit of what they actually are.
Summary
Hyperliquid, the dominant on-chain derivatives venue with roughly 70% of decentralized perpetuals volume and around $1.3 billion in annualized fees, now lists perpetual futures on stocks, with its SpaceX contract as the breakout case. The SPCX perp traded the IPO of the decade before, during, and after the listing, ran to a $228.74 high alongside the stock’s $225.64 peak, tracked its 48% collapse, and hosted positions like a 10x-leveraged $14 million short paired with a 40x $60 million Bitcoin short, structures no retail brokerage offers. Equity perps deliver what the equity market rations: 24/7 trading, high leverage, short exposure without locates or borrow fees, and access for the global majority locked out of US brokerage accounts, all against an oracle price and a funding rate instead of shares. The product’s honesty requires its limits: holders own no equity, no dividend, no claim, only a synthetic exposure whose integrity depends on oracle quality and venue solvency, on platforms mostly outside US jurisdiction. The regulatory placement is unresolved by design: synthetic equity exposure with no share changing hands sits between the SEC’s securities world and the CFTC’s derivatives world, on infrastructure neither reaches, and the CLARITY-era jurisdiction map does not cover it. The most interesting trade of June was not in a stock. When SpaceX completed the largest IPO in history and its shares began their 48% descent, an anonymous trader on Hyperliquid, the blockchain derivatives venue, was running a combined position no prime broker would have blessed and no retail app could have executed: a $60 million Bitcoin short at 40x leverage paired with a $14 million short on SPCX at 10x, a pure bet on the deflation of the year’s twin euphorias, placed on rails that never close, require no borrow, and asked no questions.
The instrument making it possible, the equity perpetual future, is the crypto industry’s quiet invasion of the stock market: a synthetic contract that tracks a share price via oracle, settles in stablecoins, charges longs or shorts a funding rate to keep the peg, and trades around the clock at leverage American brokerages reserve for institutions, on venues most of the world can reach with a wallet.
Hyperliquid’s SPCX contract, born before the IPO priced and still trading through the stock’s every convulsion, is the product’s proof of concept and its perfect case study, and this piece uses it as one: what equity perps actually are, what they genuinely fix, what they quietly are not, and why the regulatory map, freshly redrawn for crypto by the CLARITY era, has no square for them at all.
The machine: how a stock trades without shares An equity perpetual is three mechanisms in a trench coat, and each deserves one honest paragraph.
The first is the oracle. No share of SpaceX exists anywhere in the system; the contract’s reference is a price feed, assembled from the listed market’s data during exchange hours and from the perp’s own supply and demand when Nasdaq sleeps. This is the design’s power and its softest point in one: the feed makes the synthetic possible, and every question about the product’s integrity is ultimately a question about the feed, its sources, its manipulation resistance, its behavior when the underlying halts, gaps, or, as with SPCX in its lockup-shadowed churn, moves violently on thin news.
Perp venues have run oracle machinery for crypto assets for years at scale; equities add wrinkles crypto never had, official closes, halts, corporate actions, and the young history of equity perps includes the learning curve those wrinkles imply.
The second is the funding rate, the elegant trick that replaces ownership. Because nothing forces a perp’s price toward the stock’s, the contract pays a periodic transfer between longs and shorts; whichever side is heavier pays the other, so deviation from the reference price becomes expensive and arbitrage pulls the peg tight.
The funding rate is also the product’s honest price tag: holding a leveraged equity view costs whatever the crowd on your side must pay, which in euphoric stretches, SPCX’s first week, say, made long exposure meaningfully expensive, a cost structure entirely unlike owning shares and closer to a rolling options position. Traders who read funding as information, crowding, sentiment, squeeze risk, get a signal equity markets deliver only obliquely.
The third is the venue itself. On Hyperliquid, order book, matching, and liquidations run on-chain, collateral is stablecoin, and the exchange’s economics, roughly $1.3 billion in annualized fees at about 70% of the on-chain perps market, fund the token model this publication has covered as crypto’s clearest value-accrual machine. Equity perps arrived through the venue’s expansion of builder-deployed markets, the mechanism opening listings beyond crypto pairs, and the roster now reaches into stocks, indices, and commodities.
The plumbing matters because it defines the counterparty question: an equity perp holder’s real exposures are the oracle, the liquidation engine, and the venue’s solvency, not any transfer agent or clearinghouse, and those exposures live, for most such venues, offshore and on-chain, exactly where the traditional system’s guarantees do not.
What it fixes, honestly The bull case for equity perps is not hype; it is a list of the equity market’s genuine rationing decisions, each of which the perp un-rations.
Time: stocks trade 32.5 hours a week; the news that moves them does not. The SPCX perp priced Starship’s failed test, the Cursor-acquisition backlash, and every lockup rumor in real time, weekends included, while shareholders waited for Monday.
For an asset class whose defining events, launches, in this case, literally happen at all hours, continuous price discovery is not a gimmick, and the perp’s around-the-clock tape has already become, for SpaceX watchers, the leading indicator the listed market opens to.
Access: a US brokerage account requires US residency, documentation, and, for anything beyond cash equities, suitability gates; the global majority is structurally excluded from the market that prices the world’s most important companies. A perp venue asks for a wallet.
Whatever one thinks of the compliance implications, and they are the final section’s subject, the distributional fact is real: equity perps are the first instrument through which a trader in Lagos or Karachi shorts an American IPO on the same terms as a fund in Connecticut.
Shorting: the equity market’s short path, locate the borrow, pay the fee, face the recall, buy-in risk, and, for a fresh IPO like SPCX with its 911.5 million share lockup, borrow scarcity that makes shorting practically institutional-only, is friction by design. The perp deletes all of it: shorting is symmetric with longing, no locate, no borrow, no recall, which is why the instrument’s clearest use case so far is exactly the whale trade this piece opened with, and why fresh IPOs, where the listed short is hardest, and opinion is hottest, are where equity perps found product-market fit first.
Our own coverage of SPCX’s descent noted the perp and the tokenized versions tracking the collapse in lockstep with the stock, a three-venue price war in which the crypto rails, not the exchange, offered the only practical retail short.
Leverage and capital efficiency complete the list; 10x on a stock position with stablecoin collateral is a different capital regime than Reg-T margin, and together the four fixes explain the product’s trajectory better than any narrative: equity perps grow wherever the traditional market’s rationing binds hardest.
What it is not, and where it cannot be placed The audit’s other half is shorter and sharper, because the perp’s limits are as structural as its fixes.
It is not equity. No dividend, no vote, no claim in bankruptcy, no share: the holder owns a cash-settled bet on a number, and the number’s connection to the company runs entirely through the oracle.
In calm markets the distinction is pedantic; in the scenarios that define instruments, a halt, a delisting, a corporate action, an oracle failure, a venue insolvency, it is everything, and the young product’s stress record is thin precisely where equities generate their worst stresses.
The tokenized-equity reckoning this publication audited after the SpaceX IPO, products scrapped, buyers refunded, late vintages underwater, is the adjacent cautionary tale: synthetic exposure to private and newly public equity is exactly where the gap between marketing and mechanism has already cost real money.
And it is not placeable, yet, on any regulatory map. A perpetual future on a security, offered without the security, settles into a jurisdictional void the American system has spent two years mapping everything except: the SEC governs securities and the platforms that touch them; the CFTC governs derivatives on commodities; the CLARITY framework, whose implementation this publication has covered in detail, allocates digital assets between them, and a synthetic stock position on an offshore chain answers to neither cleanly.
US platforms do not offer equity perps for precisely this reason; offshore and on-chain venues offer them to everyone else, and the enforcement perimeter, as with every offshore derivatives wave before, reaches the marketing, the fiat ramps, and the US-person access, not the protocol.
The honest forecast is the one the product’s own growth writes: volumes concentrating offshore, a widening data gap between the priced world and the regulated one, and eventually, once the instrument prices something systemic, a jurisdictional fight that will make the prediction-market war look tidy, because at least an event contract admits what it is. An equity perp is a security’s price without the security, the purest regulatory-arbitrage instrument crypto has produced, and the system it arbitrages has not yet noticed the size of the hole.
The venue underneath: why this happened on Hyperliquid The product’s story is inseparable from its venue, because equity perps did not emerge on a neutral substrate; they emerged on the one platform whose economics and architecture made them almost inevitable, and the causation teaches something about where crypto’s product frontier actually lives.
Hyperliquid’s qualifications are three. Liquidity first: at roughly 70% of on-chain perpetuals volume, with open interest and depth that dwarf its decentralized rivals, it is the only venue where a $14 million single-position equity short meets a book that can absorb it, and derivatives listings live or die on day-one depth.
Machinery second: a fully on-chain order book, matching engine, and liquidation system, hardened by years of crypto perps at scale, generalizes to any oracle-priced underlying, which is precisely what the builder-deployed markets mechanism formalized, opening the listing function beyond the core team and letting the equity roster grow at ecosystem speed rather than committee speed.
And incentives third: the venue’s fee engine, the roughly $1.3 billion annualized flow whose token mechanics this publication has covered as crypto’s most direct value-accrual machine, means every new asset class listed compounds the platform’s core loop, giving the ecosystem a structural hunger for exactly the kind of frontier products that traditional venues must clear through legal departments first. Where a regulated exchange asks whether it may list synthetic SpaceX, a permissionless listing mechanism asks only whether anyone will trade it, and the answer, June showed, was emphatic.
The concentration cuts both ways, and the audit owes the caveat. A product category living overwhelmingly on one venue inherits that venue’s specific risks: its oracle choices become the category’s oracle standard, its solvency becomes the category’s systemic question, and its governance, including the validator-set concentration questions that have followed the platform since launch, becomes the category’s political exposure.
Traditional equity infrastructure disperses these risks across exchanges, clearinghouses, and transfer agents by regulatory design; the equity-perp stack concentrates them by architectural choice, trading resilience for velocity. That trade has run in crypto’s favor for two years of calm-to-volatile markets. The scenario that would reprice it, a venue-level failure during an equity stress event, with synthetic positions on halted underlyings and no clearinghouse behind the book, is the category’s true tail, unpriced precisely because it is unprecedented, and anyone sizing positions in these instruments should price the venue before pricing the view.
What to watch The roster’s growth. Which equities get perps next, and how fast listings follow retail heat. The pattern so far, fresh IPOs and locked-up names where shorting is hardest, is the tell for where the product’s edge actually lies, and the first perp on a halted or delisted name will write the stress-test chapter early.
Funding rates as the new sentiment tape. SPCX perp funding, and its successors’, is becoming the cleanest continuous read on positioning in names the options market covers only during business hours. Expect equity desks to start quoting it, quietly, the way they came to watch crypto funding.
The basis triangle. Perp versus listed stock versus tokenized versions: three prices for one exposure, on three legal architectures. Divergences in stress are where the instruments’ true differences surface, and the first sustained break will teach the market which venue leads and which merely follows.
The first US regulatory contact. An enforcement action, a no-action letter, or a CLARITY-era rulemaking that names synthetic equity exposure would end the placement void. Until then, the product grows in the gap, and the gap is the story.
One historical rhyme completes the audit, because the market has seen this movie’s structure before. Contracts for difference, CFDs, ran the same play against the equity market two decades ago: synthetic exposure, high leverage, no ownership, offered offshore to retail the regulated market rationed out, and they grew into a permanent, regulated, and repeatedly scandal-scarred fixture of European and Asian trading, banned outright for US retail to this day.
Equity perps are CFDs rebuilt on crypto rails, with three genuine upgrades: transparent on-chain positioning instead of dealer books, funding rates set by market balance instead of broker discretion, and self-custodied collateral instead of client-money accounts, and one genuine downgrade: the absence of any regulatory perimeter at all, even the imperfect one CFDs eventually accepted.
The CFD precedent predicts the arc: rapid offshore growth, a defining blowup that forces structure, then bifurcation into regulated products where allowed and gray markets where not. It also predicts the endgame nobody in crypto says aloud: the traditional exchanges, watching a parallel equity market price their listings around the clock, will eventually either extend their own hours, list their own perpetual-style products, or buy the venues, because that is what incumbents do to successful arbitrage.
The instrument’s deepest significance may be exactly that pressure: equity perps are the market’s demonstration that the 32.5-hour trading week is a policy choice, not a law of nature, and demonstrations of that kind have a way of ending with the incumbents adopting what they could not suppress.
Frequently Asked Questions What is an equity perpetual future? A derivative that tracks a stock’s price without any share existing in the system: an oracle feeds the reference price, traders post stablecoin collateral for leveraged long or short exposure, and a periodic funding-rate payment between longs and shorts keeps the contract’s price pegged to the stock’s. It trades continuously, including when the underlying market is closed, and settles in cash, never in shares.
Why did SpaceX’s perp become the breakout example? Because it offered what the listed market could not. The SPCX contract traded through the IPO of the decade around the clock, tracked the stock from its $225.64 peak through its 48% collapse, and enabled short exposure, including a documented 10x, $14 million short paired with a 40x Bitcoin short, at a moment when the fresh IPO’s lockup made traditional borrowing scarce and practical shorting nearly impossible for retail.
What do equity perps genuinely improve on? Four rationing decisions of the equity market: hours, with 24/7 trading against a 32.5-hour week; access, with a wallet replacing residency-gated brokerage accounts for the global majority; shorting, with no locates, borrow fees, or recall risk; and capital efficiency, with high leverage on stablecoin collateral. The product grows wherever these constraints bind hardest, which is why new IPOs led adoption.
What does a holder of an equity perp actually own? A cash-settled position on a number, nothing more: no dividend, no vote, no bankruptcy claim, no share. The exposure’s integrity depends on the oracle’s accuracy, the venue’s liquidation engine, and the platform’s solvency, typically on offshore, on-chain infrastructure outside traditional investor protections. In halts, delistings, corporate actions, or oracle failures, the differences from equity ownership become decisive.
Who offers these products, and can US users trade them? On-chain derivatives venues, with Hyperliquid, at roughly 70% of decentralized perpetuals volume and about $1.3 billion in annualized fees, as the category leader through its builder-deployed markets. US platforms do not list equity perps because of their unresolved legal status, and offshore venues restrict US persons formally; practical access, as with every offshore derivatives generation, varies with enforcement of the perimeter.
How do funding rates work, and why do traders watch them? Whichever side of the contract is more crowded pays a periodic fee to the other, making deviation from the reference price costly and pulling the peg tight. The rate doubles as a sentiment gauge: expensive long funding signals crowded bullishness and squeeze risk, and because it prints continuously, it offers positioning information about a stock even while the listed market sleeps.
Where do equity perps sit legally? In a void. They are synthetic exposure to securities offered without securities, on infrastructure the SEC does not reach, in a derivative form the CFTC’s commodity jurisdiction does not clearly cover, and the CLARITY-era framework allocating digital assets between the agencies does not address them. That placement question, unresolved and growing with the product’s volumes, is the category’s defining regulatory story.
Should traders use them? That is an individual decision this article does not make. The honest framing: equity perps are powerful instruments whose advantages, hours, access, symmetric shorting, and leverage are real, and whose risks, oracle dependence, venue solvency, funding costs, legal ambiguity, and the absence of every traditional investor protection, are equally real and mostly unpriced until stress arrives. Position sizes that assume the venue is a brokerage misunderstand the instrument. This is educational analysis, not investment advice.
Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Derivatives trading with leverage carries substantial risk of loss; products described may be unavailable or restricted in your jurisdiction, and figures reflect data available at the time of writing. Nothing here is a recommendation to trade any instrument. Always do your own research. Information is accurate as of July 24, 2026.
Tokenized real-world assets (RWAs) have overtaken all crypto categories combined to become the largest market on Hyperliquid, according to Cointelegraph. Hyperliquid, a decentralized exchange specializing in perpetuals, reported that RWA volume now accounts for 54% of its weekly volume, reaching approximately $26 billion. This development marks a significant shift in on-chain activity towards tokenized traditional assets on the platform. ARK Invest’s Lorenzo Valente highlighted that Hyperliquid’s RWA market volume has exceeded the combined crypto perpetual volumes of all other decentralized exchanges.
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The broader decentralized exchange (DEX) perpetuals market last week was valued at about $79 billion, with Hyperliquid contributing roughly $50 billion, underscoring its dominant role. The shift towards RWAs may indicate a growing interest in tokenized assets, reflecting a trend where participants are increasingly focusing on real-world financial products in the blockchain space.
Key Takeaways The shift in market volume towards tokenized RWAs on Hyperliquid suggests an increased interest in real-world asset tokenization. Hyperliquid’s RWA market surpassing crypto categories highlights a material change in on-chain preferences. Hyperliquid’s dominant contribution to the DEX perpetuals market indicates its significant influence and potential growth in the sector. What to Watch Market participants may monitor how Hyperliquid manages this shift and whether it continues to attract interest in tokenized RWAs. Observers will likely focus on potential partnerships or technological advancements that Hyperliquid might announce, which could further support the growing trend. Additionally, keeping an eye on market sentiment and institutional involvement could provide insights into future developments consistent with continued RWA growth.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 19.5% — — View market → January 1 2027 6.5% — — View market → January 1 2027 2.9% — — View market → January 1 2027 46% — — View market → January 1 2027 8.8% — — View market → January 1 2027 3.6% — — View market →
Hyperliquid [HYPE] has extended its losses to 22% from the July peak of $73, effectively breaking a key trendline as analysts turn defensive. According to renowned crypto analyst Michael Van de Poppe, it was time to be “passive” on the altcoin.
$HYPE has lost the uptrend unfortunately, which means that I’m going to be more passive on a potential trade. Last time this occurred, price fell from €50 to €15.
Source: Michael Popple/X In other words, Poppe preferred more of a slow scaling if the pullback extends. Think of it as a daily average cost (DCA-ing) strategy where one allocates small amounts periodically to the altcoin.
Another analyst and trader, Dylan Loomer, popularly known as Trader Mayne on X, echoed a similar stance and projected a potential 38% pullback to the monthly demand zone near $35.
No idea if we get down to the monthly demand zone, but if we do, I think buying HYPE as low as you possibly can is a good idea. $35 would be a gift, but I’ll start scaling in earlier than that.
In the first half of 2026, HYPE outperformed the market and became traders’ darling, partly fueled by the early West Asia crisis. So, what happened to its bullish catalysts in H2 2026?
3 factors driving HYPE selling pressure First, the institutional demand from U.S Spot HYPE that fueled the explosive rally to a new all-time high in June has faded in July.
Since mid-July, the products have remained negative for the longest time since their debut. They’ve been bleeding an average of $1M per day (~20K HYPE) since the 10th of July.
Source: Glassnode Venture firms like a16z and Multicoin Capital (who unstaked a $120M HYPE this week) further intensified institutional sell-offs.
Are weaker buybacks hurting HYPE? Besides, trading activity has slowed down since June, cutting revenue by 3x from a weekly average of $21M to $7M. Subsequently, this has impacted the pace of HYPE buybacks by 3x, from 318K HYPE in early June to 108K tokens in late July.
This was about 20K HYPE on a daily average, meaning the buyback program should be enough to absorb the ETF sell pressure.
Source: Hyperscreener It’s likely that HYPE is currently reacting to the Multicoin Capital sell-off headline story and broader market sentiment.
In fact, smart money’s net positioning was negative, with over $150M betting against its recovery.
Source: Hyperindex Overall, traders are actively shorting the Hyperliquid [HYPE] amid declining buybacks and ETF and VC firms’ sell-off. But some analysts believe deeper corrections could offer new discounted buying opportunities.
Final Summary HYPE has dropped 22% from $73 to $57 as analysts warn that the pullback could deepen U.S spot HYPE ETF sell-offs have hit $1M in weekly average, while buybacks decreased by 3x, further weighing on the altcoin’s value.
Almost every high-value cryptocurrency launched since 2024 is now worth less than it was at launch, according to analytics firm CryptoRank.
The firm tracked 113 coins since their token generation event (TGE) price, with only 8 of them now above that price, a median return of -95.7%.
The sample is limited to projects with a market capitalization above $100 million as of July 21, CryptoRank told CryptoPotato.
CryptoRank Study: Eight Exceptions to the Rule Eight coins included in the survey are in profit, led by HYPE, ONDO, EVA, and NIGHT.
Hyperliquid’s HYPE was up 1,519% from its launch price at the time of the survey’s publication on July 21st. Ondo Finance’s ONDO followed at 101.4%, with EverValue Coin (EVA) and Midnight Network (NIGHT) up a more modest 20.3% and 16.5% respectively.
These figures are revealing, as we can see that even among those that are up, only a small handful showed outsized performance, with six of the eight achieving double-digit increases at best. It’s worth noting that HYPE was also listed in the new S&P Pantera Digital Asset Index, which excluded many high-performing crypto assets, including Bitcoin.
Why the Decline? CryptoRank states that sell-offs, thin liquidity, and regulatory uncertainty were the main causes of major drawdowns in these projects, although the market has also observed major crashes due to exploits and other factors in the last two years.
Only 7.1% of Tokens Launched Since 2024 Are Still in Profit
Out of 113 projects with a market capitalization above $100M, only 8 are trading above their TGE price, while 105 are already in the red.
This highlights how difficult it has been for newly launched tokens to sustain… pic.twitter.com/PbjCiBD5Jd
— CryptoRank.io (@CryptoRank_io) July 21, 2026
The tokens studied spanned a wide range of niches in the crypto industry, including DeFi, gaming, and various infrastructure projects. The findings come as the broader market recovers, with bitcoin climbing above $66,000 this week on higher ETF inflows and weaker US inflation data.
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Kripto para piyasasında haftalık görünüm pozitif seyrini korurken, analistler Ethereum (ETH), XRP, Cardano (ADA), Binance Coin (BNB) ve Hyperliquid (HYPE) gibi altcoinler için önemli destek ve direnç seviyelerine dikkat çekti. Değerlendirmeye göre Ethereum ve Cardano toparlanma sinyalleri verirken, XRP yatay seyrini sürdürüyor. BNB zayıf görünümünü korurken HYPE için ise düzeltme riski öne çıkıyor.
Ethereum 2.000 dolar direncine yaklaştı Ethereum son bir haftada yaklaşık %3 yükseldi. Haziran sonundan bu yana alıcıların güç kazanmasıyla başlayan toparlanma hareketi, 1.500 dolar desteğinin korunmasının ardından hız kazandı.
Analistler, şimdi gözlerin 2.000 dolar seviyesine çevrildiğini belirtiyor. Bu seviyenin güçlü bir psikolojik direnç oluşturabileceği ve kısa vadede satış baskısını artırabileceği ifade ediliyor.
Buna karşın Ethereum’un uzun vadeli düşüş trendinden tamamen çıkabilmesi için 2.000 doların destek seviyesine dönüşmesi gerektiği vurgulanıyor.
XRP 1,20 dolar direncini aşmakta zorlanıyor XRP de haftayı yaklaşık %3 yükselişle tamamladı. Fiyatın 1 dolar desteğinin üzerinde kalması olumlu değerlendirilirken, 1,20 dolar seviyesindeki direncin henüz aşılamaması dikkat çekiyor.
Analistler, işlem hacmindeki kademeli düşüş nedeniyle XRP’nin güçlü bir kırılım gerçekleştirecek momentuma sahip olmadığını düşünüyor. Şubat ayındaki sert düşüşün ardından yatırımcı ilgisinin tam olarak geri dönmediği belirtiliyor.
Yine de fiyatın 1 dolar üzerinde kalmayı sürdürmesi, satış baskısının sınırlı kaldığını gösteren önemli bir gelişme olarak değerlendiriliyor.
Cardano yükseliş sinyali veriyor Cardano haftalık bazda yaklaşık %6 değer kazanarak incelenen altcoinler arasında en güçlü performansı gösterdi.
Analistler, fiyat grafiğinde oluşan omuz-baş-omuz dönüş formasyonunun ardından 0,15 dolar desteğinin korunmasını olumlu görüyor. Ancak kalıcı bir trend değişiminin teyit edilmesi için daha yüksek dipler ve daha yüksek zirveler oluşması gerektiği belirtiliyor.
Bu senaryoda 0,25 dolar seviyesinin aşılması kritik önem taşıyor. Ayrıca haftalık MACD göstergesinin yükseliş sinyali üretmesi, satıcıların güç kaybedebileceğine işaret ediyor.
BNB zayıf görünümünü sürdürüyor Binance Coin son bir haftada kayda değer bir yükseliş gösteremedi. Analistlere göre 580 dolar direnci aşılmadığı sürece fiyatın yatay hareketini sürdürmesi veya daha düşük seviyeleri test etmesi olası görünüyor.
Azalan işlem hacmi ve volatilite de alıcıların piyasaya yeterince güçlü dönmediğini gösteriyor. Değerlendirmede, Avrupa Birliği’ndeki son düzenlemelerin de BNB üzerindeki talebi sınırlayan faktörlerden biri olabileceği ifade edildi.
Bu nedenle analistler, olası geri çekilmelerde 500 dolar seviyesini önemli destek olarak izliyor.
HYPE için düzeltme uyarısı Hyperliquid (HYPE) ise haftayı yatay tamamlasa da son bir ayda yaklaşık %5 değer kaybetti. Analistler, fiyatın 60 doların altında kalmasının satış baskısını artırabileceğini belirtiyor.
60 dolar seviyesinin altında kalıcılık sağlanması durumunda daha geniş çaplı bir düzeltmenin başlayabileceği ifade edilirken, 56 ve 52 dolar seviyeleri önemli destek noktaları olarak öne çıkıyor.
Önümüzdeki günlerde altcoin piyasasının yönü, Bitcoin’in fiyat hareketi ve kritik direnç seviyelerinin aşılıp aşılamayacağına bağlı olacak.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
HYPE, a trending cryptocurrency token, has lost its previous upward momentum, drawing close scrutiny from market participants. With the price breaking below its established uptrend, traders are now watching several key support zones, including $47-$54, $38-$43, and $34, amid rising concerns of a possible deeper sell-off.
Uptrend break shifts trading approachTechnical analyst Michaël van de Poppe has stated that HYPE’s recent technical breakdown calls for a more passive stance on trading the token. He warned that a similar breakdown in an earlier phase saw HYPE fall sharply from €50 to €15, highlighting the risk that comes with a lost trend.
HYPE has lost the uptrend, so I plan to be more passive in my trading. Last time a similar break occurred, price dropped from €50 to €15. There is a time for aggressive moves and a time for patience—right now, caution is needed.
Van de Poppe suggested that, given the present loss of trend, traders may need to wait for clearer price action signals before re-entering the market aggressively. For now, the breakdown remains a cautionary sign for both short-term and longer-term market participants.
Institutional demand zones under reviewCrypto Patel, another prominent market analyst, offered a more optimistic perspective. He identified several lower demand zones—specifically $47-$54 and $38-$43—as areas where institutional buy setups might emerge if HYPE revisits these levels.
HYPE is entering a weekly demand area, with a fair value gap at $47-$54 and a bullish order block between $38 and $43. These zones could attract institutional buyers, even if most traders see current weakness.
According to Crypto Patel, these zones coincide with the 0.382 to 0.5 Fibonacci retracement levels. The technical overlap creates a potential support band where buyers might attempt to defend structure. However, the market needs confirmation from price action before recovery talks can gain traction.
Patel argued that while the token’s structure—marked by a series of higher-highs and higher-lows—remains intact for now, its resilience will be tested within these demand areas. He drew parallels to previous corrections that eventually fueled fresh highs, provided key support holds.
Mini dictionary: Bullish order block – In technical analysis, this refers to a price range where significant buying activity from institutional investors historically occurred, providing a potential support zone during retracements.
$34 seen as key invalidation levelFor a broader trend reversal, Patel set a macro invalidation point at $34. Weekly candle closes below this threshold, which aligns with the 0.618 Fibonacci retracement, would seriously compromise the bullish structure and suggest further downside. Until this level is lost, he views the current pullback as a reset of market liquidity rather than the start of a deeper collapse.
As HYPE consolidates within these technical zones, trader caution remains elevated. If the $47-$54 band gives way, market attention could quickly turn to $38-$43 as the next key level. Below that, the $34 area stands as the final major support before a substantial breakdown could occur.
Support ZoneTechnical SignificancePotential Impact$47-$54Fair value gapFirst area for buyers to step in$38-$43Bullish order blockNext institutional demand zone$34Macro invalidation/Fibonacci 0.618Significant trend reversal risk belowMarket participants now await HYPE’s reaction in these areas, which may determine whether a sustained recovery is underway or if deeper losses remain possible in upcoming sessions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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.
Citrini’s Perspective: Recent negative rumors surrounding NAND have been overblown. SanDisk’s low-priced long-term agreement (LTA) is a strategic choice rather than a sign of weak demand, and the firm maintains a bullish outlook on the storage sector.
Citrini analyst Jukan has responded to recent bearish NAND notes and negative rumors about QLC price negotiations circulating in the market. Accepting a price lower than the initial offer when SanDisk signed a long-term agreement (LTA) with Meta is not surprising. As the most active NAND vendor in pursuing LTAs, SanDisk plans to allocate over 50% of its total shipments to such deals. Based on this strategy, it is naturally willing to accept LTA prices lower than current quarterly contract rates, so one cannot infer that "SanDisk cannot seamlessly resell all orders to higher-bidding North American clients." Regarding the rumor that Chinese module manufacturers were rejected when promoting eSSDs to domestic cloud service providers (CSPs), Jukan explained that Chinese CSPs have direct procurement channels from Yangtze Memory Technologies (YMTC) rather than insufficient demand. As for the claim that hyperscale cloud vendors are pressuring down QLC eSSD prices leading to unsold volumes, he noted that new cloud vendors have enough demand to absorb these volumes. Jukan concluded that negative headlines tend to be amplified when storage stocks underperform, but the sector’s fundamentals have not seen substantial deterioration. He reaffirmed his "bullish stance on storage." Earlier, Jukan had stated that DRAM contract prices still have around 40% upside potential by the end of 2027, and HBM supply remains tight. This clarification on the NAND segment further solidifies his bullish outlook for the entire storage space.
1 seconds ago
Changxin's pre-IPO price drops to $6, corresponding to an RMB share price of 40.62 yuan on its first day of listing.
According to Hyperinsight’s monitoring, the Pre-IPO contract price of CXMT (Changxin Memory Technologies, whose listed entity is Changxin Technology) on Hyperliquid has fallen to $6, with a more than 5.7% drop in 24 hours. The corresponding RMB share price stands at 40.62 yuan. Calculated based on the post-issue total share count of 66.881 billion shares, the on-chain implied market capitalization is approximately $400 billion, equivalent to around 2.7 trillion yuan. At this valuation, the subscription cost per lot of 500 shares for retail investors who win the online application is 4,330 yuan. The estimated market value of 500 shares on the first day of listing is 20,310 yuan, translating to a profit of roughly 16,000 yuan per lot.
1 seconds ago
The latest draft of the CLARITY Act includes an incentive clause for white hat hackers, proposing to offer rewards to individuals who identify security vulnerabilities.
The latest draft of the U.S. Senate’s Cryptocurrency Market Structure Act (the CLARITY Act) includes provisions encouraging white hat hackers to responsibly disclose cybersecurity vulnerabilities, proposing to authorize rewards for individuals who identify and report such flaws to bolster protection for digital asset infrastructure before they are maliciously exploited. The provision incorporates the views of former CFTC Chairman J. Christopher Giancarlo, a long-time advocate for digital asset innovation.
1 seconds ago
US tech giants have cut nearly 140,000 jobs this year, with the four leading players' AI capital expenditure totaling $725 billion.
According to statistics from the Financial Times in partnership with Challenger, Gray & Christmas, U.S. tech industry layoffs since 2026 have accounted for more than one-third of all announced layoffs nationwide. Amazon, Oracle, Meta and Microsoft alone have cut nearly 50,000 jobs, roughly 6% of their total workforce. In sharp contrast, Amazon, Alphabet, Meta and Microsoft are projected to invest a combined $725 billion in AI infrastructure such as data centers this year. After laying off staff in March, Oracle’s total headcount dropped by 21,000 for the full year; this month, S&P downgraded its credit rating, citing weak cash flow and uncertain AI returns. Microsoft cut 4,800 jobs this month, mainly in its Xbox gaming division, essentially a full reset of its $75 billion acquisition of Activision Blizzard three years ago. The narrative that "AI causes layoffs" is met with skepticism in academic circles. Enrico Moretti, an economics professor at the University of California, Berkeley, notes that AI-related layoffs are more of an excuse for management to correct over-hiring during the pandemic. "Claiming AI-driven efficiency gains is easier than admitting to over-hiring back then," he said. Market pricing also contradicts this narrative: within 30 trading days of announcing layoffs, companies that attributed cuts to AI saw their stock prices underperform the Nasdaq by nearly 10%, while companies laying off for other reasons lagged by only around 4%. Amazon and Microsoft have explicitly stated that AI adoption is not a decisive factor in their layoffs. In contrast to the tech giants’ non-core business contractions, AI-native startups like Anthropic and OpenAI are still rapidly expanding their workforce, driving fast growth in AI sector employment. "What is being cut is merely all other non-core business segments."
1 seconds ago
Layer1 project Vanar will begin migrating its infrastructure to Base next Tuesday.
Layer 1 blockchain project Vanar announced that its infrastructure migration to Base will kick off next Tuesday. Users currently staking VANRY must first unstake, wait for the cooldown period to elapse before claiming their tokens. Earlier, Vanar stated that existing VANRY token holders can complete the migration at a 1:1 ratio, with their holding amounts remaining unchanged. Additionally, VANRY’s total supply will rise from 2.4 billion to 10 billion tokens, approximately 62% of which will stay locked during the migration. Once the migration is complete, staking for Vanarchain validators will be halted.
1 seconds ago
2035年数据中心将占美国电力消耗的约20%，成为下一个AI瓶颈
U.S. data center power demand is projected to surge by 253% from 2026 levels, reaching a record 194 gigawatts by 2035 — with 1 gigawatt roughly matching the capacity of a traditional nuclear reactor. Currently, data centers consume 6% of the U.S.’s annual electricity; that share is estimated to climb to around 12% by 2030, and will account for roughly 20% of total U.S. electricity consumption by 2035. Most of the growth in U.S. power demand is concentrated in a handful of grid regions, such as the PJM Interconnection, which serves Washington, D.C. and 13 states including Virginia, Pennsylvania and Ohio. Power will be the next AI bottleneck.
Citrini’s Perspective: Recent negative rumors surrounding NAND have been overblown. SanDisk’s low-priced long-term agreement (LTA) is a strategic choice rather than a sign of weak demand, and the firm maintains a bullish outlook on the storage sector.
Citrini analyst Jukan has responded to recent bearish NAND notes and negative rumors about QLC price negotiations circulating in the market. Accepting a price lower than the initial offer when SanDisk signed a long-term agreement (LTA) with Meta is not surprising. As the most active NAND vendor in pursuing LTAs, SanDisk plans to allocate over 50% of its total shipments to such deals. Based on this strategy, it is naturally willing to accept LTA prices lower than current quarterly contract rates, so one cannot infer that "SanDisk cannot seamlessly resell all orders to higher-bidding North American clients." Regarding the rumor that Chinese module manufacturers were rejected when promoting eSSDs to domestic cloud service providers (CSPs), Jukan explained that Chinese CSPs have direct procurement channels from Yangtze Memory Technologies (YMTC) rather than insufficient demand. As for the claim that hyperscale cloud vendors are pressuring down QLC eSSD prices leading to unsold volumes, he noted that new cloud vendors have enough demand to absorb these volumes. Jukan concluded that negative headlines tend to be amplified when storage stocks underperform, but the sector’s fundamentals have not seen substantial deterioration. He reaffirmed his "bullish stance on storage." Earlier, Jukan had stated that DRAM contract prices still have around 40% upside potential by the end of 2027, and HBM supply remains tight. This clarification on the NAND segment further solidifies his bullish outlook for the entire storage space.
1 seconds ago
Changxin's pre-IPO price drops to $6, corresponding to an RMB share price of 40.62 yuan on its first day of listing.
According to Hyperinsight’s monitoring, the Pre-IPO contract price of CXMT (Changxin Memory Technologies, whose listed entity is Changxin Technology) on Hyperliquid has fallen to $6, with a more than 5.7% drop in 24 hours. The corresponding RMB share price stands at 40.62 yuan. Calculated based on the post-issue total share count of 66.881 billion shares, the on-chain implied market capitalization is approximately $400 billion, equivalent to around 2.7 trillion yuan. At this valuation, the subscription cost per lot of 500 shares for retail investors who win the online application is 4,330 yuan. The estimated market value of 500 shares on the first day of listing is 20,310 yuan, translating to a profit of roughly 16,000 yuan per lot.
1 seconds ago
The latest draft of the CLARITY Act includes an incentive clause for white hat hackers, proposing to offer rewards to individuals who identify security vulnerabilities.
The latest draft of the U.S. Senate’s Cryptocurrency Market Structure Act (the CLARITY Act) includes provisions encouraging white hat hackers to responsibly disclose cybersecurity vulnerabilities, proposing to authorize rewards for individuals who identify and report such flaws to bolster protection for digital asset infrastructure before they are maliciously exploited. The provision incorporates the views of former CFTC Chairman J. Christopher Giancarlo, a long-time advocate for digital asset innovation.
1 seconds ago
US tech giants have cut nearly 140,000 jobs this year, with the four leading players' AI capital expenditure totaling $725 billion.
According to statistics from the Financial Times in partnership with Challenger, Gray & Christmas, U.S. tech industry layoffs since 2026 have accounted for more than one-third of all announced layoffs nationwide. Amazon, Oracle, Meta and Microsoft alone have cut nearly 50,000 jobs, roughly 6% of their total workforce. In sharp contrast, Amazon, Alphabet, Meta and Microsoft are projected to invest a combined $725 billion in AI infrastructure such as data centers this year. After laying off staff in March, Oracle’s total headcount dropped by 21,000 for the full year; this month, S&P downgraded its credit rating, citing weak cash flow and uncertain AI returns. Microsoft cut 4,800 jobs this month, mainly in its Xbox gaming division, essentially a full reset of its $75 billion acquisition of Activision Blizzard three years ago. The narrative that "AI causes layoffs" is met with skepticism in academic circles. Enrico Moretti, an economics professor at the University of California, Berkeley, notes that AI-related layoffs are more of an excuse for management to correct over-hiring during the pandemic. "Claiming AI-driven efficiency gains is easier than admitting to over-hiring back then," he said. Market pricing also contradicts this narrative: within 30 trading days of announcing layoffs, companies that attributed cuts to AI saw their stock prices underperform the Nasdaq by nearly 10%, while companies laying off for other reasons lagged by only around 4%. Amazon and Microsoft have explicitly stated that AI adoption is not a decisive factor in their layoffs. In contrast to the tech giants’ non-core business contractions, AI-native startups like Anthropic and OpenAI are still rapidly expanding their workforce, driving fast growth in AI sector employment. "What is being cut is merely all other non-core business segments."
1 seconds ago
Layer1 project Vanar will begin migrating its infrastructure to Base next Tuesday.
Layer 1 blockchain project Vanar announced that its infrastructure migration to Base will kick off next Tuesday. Users currently staking VANRY must first unstake, wait for the cooldown period to elapse before claiming their tokens. Earlier, Vanar stated that existing VANRY token holders can complete the migration at a 1:1 ratio, with their holding amounts remaining unchanged. Additionally, VANRY’s total supply will rise from 2.4 billion to 10 billion tokens, approximately 62% of which will stay locked during the migration. Once the migration is complete, staking for Vanarchain validators will be halted.
1 seconds ago
2035年数据中心将占美国电力消耗的约20%，成为下一个AI瓶颈
U.S. data center power demand is projected to surge by 253% from 2026 levels, reaching a record 194 gigawatts by 2035 — with 1 gigawatt roughly matching the capacity of a traditional nuclear reactor. Currently, data centers consume 6% of the U.S.’s annual electricity; that share is estimated to climb to around 12% by 2030, and will account for roughly 20% of total U.S. electricity consumption by 2035. Most of the growth in U.S. power demand is concentrated in a handful of grid regions, such as the PJM Interconnection, which serves Washington, D.C. and 13 states including Virginia, Pennsylvania and Ohio. Power will be the next AI bottleneck.
25 July 2026 | 11:32 Hyperliquid has returned to a level that could determine whether its broader recovery structure remains intact.
Key Takeaways HYPE has slipped below the 50% retracement of its spring advance. The token is testing its 100-day moving average near $56.7. Recovering $57.6 could support a rebound toward $62. A confirmed loss of the current support zone would expose $53. HYPE trades near $57 at the time of writing after slipping beneath the 0.5 Fibonacci retracement close to $57.6. That level marks the midpoint of the token’s advance from approximately $38 to $77.
The pullback has brought price directly to the 100-day simple moving average near $56.7. Together with the psychological $57 level, it forms the final visible support zone before the deeper 0.618 Fibonacci retracement near $53.
Daily Hyperliquid technical price chart with Fibonacci levels / Source: TradingView The 100-Day Average Is the Immediate Test HYPE has already broken below the rising trendline that supported its advance from the June low. It also trades beneath the 50-day simple moving average near $64 and has formed a sequence of lower recovery highs since approaching $77.
The same support zone was already under pressure a day earlier, as ETF demand weakened while HYPE tested this crucial level.
The 100-day average is therefore the clearest remaining measure of medium-term support. An intraday move beneath it would carry less weight than a completed daily candle, particularly while price remains close to the 50% retracement.
A close back above the current support zone would show that buyers are still defending half of the spring rally. Acceptance below it would indicate that the correction is extending into a deeper part of the Fibonacci range.
A Recovery First Needs to Reclaim $57.6 The first sign of stabilisation would be a move back above the 0.5 retracement near $57.6.
If that level is recovered, the next resistance sits around $62, corresponding with the 0.382 retracement. This area previously acted as support and could now attract sellers looking to exit during a rebound.
Beyond $62, the falling 50-day average near $64 is the more important barrier. Until HYPE recovers it, an advance from the current level would remain a relief bounce inside a weakening structure rather than a confirmed trend reversal.
The next major resistance above the moving average is the 0.236 retracement near $67.8. Reclaiming that area would begin to challenge the sequence of lower highs established since June.
Price Level Technical Role $57.6 The midpoint of the spring rally and the first level HYPE needs to reclaim. $56.7 The 100-day moving average supporting the current price zone. $62 Former support and the first meaningful resistance on a rebound. $64 The falling 50-day average separating a relief bounce from a stronger recovery. $53 The 0.618 retracement and the next major support below the current zone. A Daily Close Below the 100-Day Average Exposes $53 A completed candle beneath the 100-day average and the wider $57 shelf would weaken the remaining medium-term support structure.
The next measured level is the 0.618 Fibonacci retracement near $53. A move there would mean HYPE had surrendered more than 60% of its advance from $38 to $77.
Buyers could still attempt to form a base around that level, but a weak reaction would place the 0.786 retracement near $46.5 back into focus. Reaching that area would unwind most of the spring rally and return price much closer to its origin.
The Daily Close Will Confirm the Next Move The chart is no longer best described through a triangle because the trendlines that formed it have already been broken. The cleaner structure is defined by the current $56.7–$57.6 decision zone, resistance at $62 and deeper support at $53.
It also does not provide a valid 200-day moving average because HYPE lacks sufficient trading history, because its newer token. For now, the 50-day and 100-day averages, together with the Fibonacci grid, provide the relevant technical framework.
Disclaimer:
This article is for informational purposes only and isn’t financial advice. Technical levels reflect chart conditions at the time of writing, not price predictions – HYPE is a newer, highly volatile asset. Always do your own research before trading. Methodology:
Price levels are based on the daily HYPE/USD chart on Coinbase via TradingView, captured July 25, 2026. 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.
Citrini’s Perspective: Recent negative rumors surrounding NAND have been overblown. SanDisk’s low-priced long-term agreement (LTA) is a strategic choice rather than a sign of weak demand, and the firm maintains a bullish outlook on the storage sector.
Citrini analyst Jukan has responded to recent bearish NAND notes and negative rumors about QLC price negotiations circulating in the market. Accepting a price lower than the initial offer when SanDisk signed a long-term agreement (LTA) with Meta is not surprising. As the most active NAND vendor in pursuing LTAs, SanDisk plans to allocate over 50% of its total shipments to such deals. Based on this strategy, it is naturally willing to accept LTA prices lower than current quarterly contract rates, so one cannot infer that "SanDisk cannot seamlessly resell all orders to higher-bidding North American clients." Regarding the rumor that Chinese module manufacturers were rejected when promoting eSSDs to domestic cloud service providers (CSPs), Jukan explained that Chinese CSPs have direct procurement channels from Yangtze Memory Technologies (YMTC) rather than insufficient demand. As for the claim that hyperscale cloud vendors are pressuring down QLC eSSD prices leading to unsold volumes, he noted that new cloud vendors have enough demand to absorb these volumes. Jukan concluded that negative headlines tend to be amplified when storage stocks underperform, but the sector’s fundamentals have not seen substantial deterioration. He reaffirmed his "bullish stance on storage." Earlier, Jukan had stated that DRAM contract prices still have around 40% upside potential by the end of 2027, and HBM supply remains tight. This clarification on the NAND segment further solidifies his bullish outlook for the entire storage space.
1 seconds ago
The latest draft of the CLARITY Act includes an incentive clause for white hat hackers, proposing to offer rewards to individuals who identify security vulnerabilities.
The latest draft of the U.S. Senate’s Cryptocurrency Market Structure Act (the CLARITY Act) includes provisions encouraging white hat hackers to responsibly disclose cybersecurity vulnerabilities, proposing to authorize rewards for individuals who identify and report such flaws to bolster protection for digital asset infrastructure before they are maliciously exploited. The provision incorporates the views of former CFTC Chairman J. Christopher Giancarlo, a long-time advocate for digital asset innovation.
1 seconds ago
US tech giants have cut nearly 140,000 jobs this year, with the four leading players' AI capital expenditure totaling $725 billion.
According to statistics from the Financial Times in partnership with Challenger, Gray & Christmas, U.S. tech industry layoffs since 2026 have accounted for more than one-third of all announced layoffs nationwide. Amazon, Oracle, Meta and Microsoft alone have cut nearly 50,000 jobs, roughly 6% of their total workforce. In sharp contrast, Amazon, Alphabet, Meta and Microsoft are projected to invest a combined $725 billion in AI infrastructure such as data centers this year. After laying off staff in March, Oracle’s total headcount dropped by 21,000 for the full year; this month, S&P downgraded its credit rating, citing weak cash flow and uncertain AI returns. Microsoft cut 4,800 jobs this month, mainly in its Xbox gaming division, essentially a full reset of its $75 billion acquisition of Activision Blizzard three years ago. The narrative that "AI causes layoffs" is met with skepticism in academic circles. Enrico Moretti, an economics professor at the University of California, Berkeley, notes that AI-related layoffs are more of an excuse for management to correct over-hiring during the pandemic. "Claiming AI-driven efficiency gains is easier than admitting to over-hiring back then," he said. Market pricing also contradicts this narrative: within 30 trading days of announcing layoffs, companies that attributed cuts to AI saw their stock prices underperform the Nasdaq by nearly 10%, while companies laying off for other reasons lagged by only around 4%. Amazon and Microsoft have explicitly stated that AI adoption is not a decisive factor in their layoffs. In contrast to the tech giants’ non-core business contractions, AI-native startups like Anthropic and OpenAI are still rapidly expanding their workforce, driving fast growth in AI sector employment. "What is being cut is merely all other non-core business segments."
1 seconds ago
Layer1 project Vanar will begin migrating its infrastructure to Base next Tuesday.
Layer 1 blockchain project Vanar announced that its infrastructure migration to Base will kick off next Tuesday. Users currently staking VANRY must first unstake, wait for the cooldown period to elapse before claiming their tokens. Earlier, Vanar stated that existing VANRY token holders can complete the migration at a 1:1 ratio, with their holding amounts remaining unchanged. Additionally, VANRY’s total supply will rise from 2.4 billion to 10 billion tokens, approximately 62% of which will stay locked during the migration. Once the migration is complete, staking for Vanarchain validators will be halted.
1 seconds ago
2035年数据中心将占美国电力消耗的约20%，成为下一个AI瓶颈
U.S. data center power demand is projected to surge by 253% from 2026 levels, reaching a record 194 gigawatts by 2035 — with 1 gigawatt roughly matching the capacity of a traditional nuclear reactor. Currently, data centers consume 6% of the U.S.’s annual electricity; that share is estimated to climb to around 12% by 2030, and will account for roughly 20% of total U.S. electricity consumption by 2035. Most of the growth in U.S. power demand is concentrated in a handful of grid regions, such as the PJM Interconnection, which serves Washington, D.C. and 13 states including Virginia, Pennsylvania and Ohio. Power will be the next AI bottleneck.
1 seconds ago
Robinhood Chain's 24-hour network fee revenue reached $350,000, ranking fourth among all blockchains.
According to DeFiLlama data, Robinhood EVM Chain generated $350,000 in 24-hour network fee revenue, ranking fourth among all blockchains, trailing only Canton, Tron, and Solana. Launched on July 1, the Robinhood EVM Chain has seen its total value locked (TVL) quickly rise to $315 million. Though originally designed for on-chain stocks and ETFs, it has emerged as a major hub for meme coin activity.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Blockchain data tracker Whale Alert recently reported the transfer of 557,902 HYPE tokens valued at $32,898,942 within the last 24 hours.
Whale Alert reported that 557,902 HYPE worth $32,898,942 was transferred from an unknown wallet to HyperCore, the core trading infrastructure of the Hyperliquid blockchain.
HyperCore is the native financial and trading execution engine for the Hyperliquid Layer 1 blockchain, running fully on-chain spot and perpetual order books.
While details about the intent of the transaction were scant per Whale Alert's reporting, on-chain analytics platform Lookonchain reported a similar move, which might provide further details.
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Lookonchain reported that a whale received 557,902 HYPE from FalconX and deposited it into Hyperliquid for staking. Going by this, the reason why the 557,902 HYPE might have been moved to the HyperCore platform was to stake it.
This follows an increase in staking activity by whales or large holders. On July 24, Lookonchain reported a whale who staked 2.93 million HYPE worth $172 million. Within 24 hours, 19 wallets (likely belonging to the same whale) deposited 2.93 million HYPE into Hyperliquid and staked it.
Hyperliquid price actionAt the time of writing, HYPE was down 1.59% in the last 24 hours to $57.48, extending a drop since the week's start. The token is likewise down 2.13% weekly.
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HYPE's price fell for four days straight, from July 21 to July 24, as its recovery lagged, forming a series of lower highs since its July pullback from record highs.
The broader market picture tells a cautious story, with several major cryptocurrencies down over the past day.
In the last 24 hours, $244 million has been liquidated in crypto positions, with longs accounting for a larger chunk at $215 million while shorts came in at $29 million, according to CoinGlass data.
The recent drop highlights a lingering weakness across a larger portion of the altcoin market, with a few tokens posting gains.
A significant transaction involving 557,902 HYPE tokens valued at $32,898,942 was recorded within the last 24 hours, according to blockchain data platform Whale Alert.
Whale activity and HyperCore connectionWhale Alert observed that the HYPE tokens were transferred from an unidentified wallet to HyperCore, the central trading hub for the Hyperliquid blockchain. HyperCore serves as the foundational financial and trading engine of the Hyperliquid network, enabling on-chain spot and perpetual trading through native order books.
On-chain analytics service Lookonchain reported a related flow, identifying that the whale received 557,902 HYPE from FalconX and subsequently deposited the tokens into Hyperliquid for staking. This sequence suggests the transfer’s primary purpose was to stake the assets through Hyperliquid’s infrastructure.
Mini dictionary: HyperCore – The core protocol on the Hyperliquid Layer 1 blockchain designed to execute spot and perpetual trading entirely on-chain, utilizing order books to match supply and demand without centralized intermediaries.
This latest action follows a pattern of growing staking activity among large HYPE holders. Lookonchain recently tracked another whale who staked 2.93 million HYPE, valued at $172 million, using 19 wallets likely under unified control. These deposits and staking took place within a single 24-hour period, further illustrating heightened whale interest in HYPE staking opportunities.
Price movements and broader market sentimentAs of the latest figures, HYPE traded at $57.48, registering a 1.59% decrease over the past day and a 2.13% drop over the previous week. The token has now declined for four consecutive days, beginning July 21, as its recovery from July’s earlier highs faltered and it continued to set lower highs.
HYPE’s chart shows a steady drift downward since its July pullback, with the token extending its losing streak this week and failing to reverse the trend.
The subdued performance in HYPE aligns with a wider downturn in the cryptocurrency market. Many major coins have also traded lower in recent days, with sentiment remaining cautious among investors.
Market liquidations and investor impactAggregated data from CoinGlass indicates that liquidation activity has picked up, mirroring volatility across the sector. Within the past 24 hours, total liquidations reached $244 million, with long positions accounting for $215 million of the total while short positions made up $29 million. This breakdown suggests that the recent moves caught bullish traders off guard, prompting swift position closures.
Token24h Change7d ChangeCurrent Price24h LiquidationsHYPE-1.59%-2.13%$57.48–Crypto market (aggregate)N/AN/AN/A$244 millionOnly a few tokens have managed to post gains during this period, reflecting broader weakness in the altcoin market. The overall trend remains cautious, with whale activity in $HYPE standing out against the general backdrop of decline.
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.
TLDR: RWA adoption accelerated as global holders rose 190.9% year over year to 1.09 million, while Ethereum surpassed $17 billion in tokenized value. Robinhood Chain recorded 11,416.2% monthly growth and passed 244,000 RWA holders, although memecoins still dominate much of its DEX volume. Hyperliquid RWA contracts generated $25.1 billion in weekly trading volume, accounting for 52% of the decentralized exchange’s total activity. Avalanche tokenized Treasuries climbed 68% to $842 million, while Solana, BNB Chain and several smaller networks also expanded their markets. RWA adoption accelerated across major blockchain networks as tokenized assets reached new records in value, holders, and trading activity. Ethereum crossed $17 billion in tokenized real-world asset value, while Solana reached an all-time high of $3.4 billion. The number of RWA holders rose 190.9% year over year, increasing from 375,000 to 1.09 million.
Tokenized stocks also recorded $9 billion in monthly transfer volume during June. Robinhood Chain posted the fastest monthly growth, while Avalanche expanded its tokenized Treasury market.
RWA Adoption Drives Record Growth Across Major Blockchains Robinhood Chain led monthly network growth after its tokenized asset value increased 11,416.2% to $323.7 million. The network also passed 244,000 RWA holders, showing rapid demand for blockchain-based versions of traditional assets. Its growth followed an early period dominated by memecoins and stablecoins rather than tokenized equities.
RWA week in numbers 🐘
→ RWA holders up 190.9% YoY, from 375K to 1.09M
→ Ethereum crosses $17B in tokenized RWA value, still the largest chain by a wide margin
→ Solana hits a new all time high of $3.4B in tokenized RWA value
→ Tokenized stocks hit a $9B all time high in…
— RWA Foundation (@RWAFoundation_) July 24, 2026
Activity has since moved closer to Robinhood’s original tokenization strategy. Real-world assets now carry an active market value near $70 million, according to DefiLlama. Tokenized GameStop shares generated $26.6 million in daily volume. Nvidia reached $14 million, while SpaceX recorded $6.4 million. Twelve tokenized stocks now clear more than $500,000 daily.
Robinhood Chain still records much larger total decentralized exchange activity. Daily DEX volume has exceeded $600 million, while tokenized stocks generate about $55 million. Memecoins remain prominent across trending markets, and stablecoins still represent the network’s largest asset category. Even so, RWA adoption is gaining measurable market share.
Ethereum remains the leading blockchain for tokenized assets, with more than $17 billion in onchain value. It also controls 62.2% of the tokenized ETF market, which reached a record capitalization of $526.4 million. Solana’s tokenized RWA value climbed to a record $3.4 billion, extending competition among high-throughput networks.
Avalanche also recorded broad growth. Its total RWA market increased 22.6% to $2.5 billion. Tokenized US Treasuries rose 68% in 30 days to $842 million. BNB Chain gained 16.5% to $9.2 billion. Cardano, Tempo, Monad, Plume, Sonic, Fraxtal, and TON also posted monthly increases.
RWA Adoption Reshapes Trading Demand on Hyperliquid RWA adoption is also changing activity on decentralized derivatives platforms. Real-world asset markets became Hyperliquid’s largest trading category for the first time. RWA-linked contracts generated $25.1 billion in volume from July 13 through July 19. That represented 52% of the platform’s $48.2 billion weekly total.
Source: X Tokenized stocks, indexes, and commodities attracted more volume than all other categories combined. Individual equities represented 61% of RWA trading volume. That shift shows traders are using decentralized infrastructure beyond crypto-native tokens. The assets include links to public companies, traditional finance, and global markets.
The broader market also recorded strong product-level expansion. Onre Finance increased distributed value by 21% to $234 million, while ONYC holders rose 10% to 7,382. Chainlink CCIP distributed $400 million during the month, up 69%, highlighting rising demand for cross-chain settlement and asset movement.
RWA.xyz added several products during the week, including Mobilization Advance Program One from Hashfire. New Midas listings included Fasanara Global Open, Hyperithm BTC, mAPOLLO, and mHYPER. These additions broaden the range of tokenized credit, digital asset, and investment products available through onchain markets.
ARK Invest Digital Assets Research Director Lorenzo Valente described the shift as a new phase for decentralized finance. Circle co-founder Jeremy Allaire also framed tokenized assets as a structural market change. Continued RWA adoption will depend on liquidity, regulation, custody standards, and sustained demand from institutions and retail users. Custody standards remain uneven.
HYPE, the native token of decentralized exchange protocol Hyperliquid, continued to experience downward pressure as mixed market signals and declining spot ETF inflows shaped investor sentiment this week. A critical test of technical support levels on Friday, July 24, 2026, became a focal point for market participants seeking signs of future price direction.
Price action and technical levelsAs of Friday, Hyperliquid (HYPE) traded at $58.78, registering a modest daily decline of 0.67%. Trading volume dropped by 11.26% in the last 24 hours, settling at $343.39 million. CoinMarketCap data indicated a 3% decrease in HYPE’s value over the previous week.
Market analyst Crypto Patel noted that HYPE’s current price action is reminiscent of the so-called institution pattern that preceded its last all-time high. While some traders interpreted the recent pullback as a sign of weakness, Patel argued that it likely reflects a search for market liquidity rather than a genuine reversal.
Patel observed that HYPE’s weekly chart continues to display higher highs and higher lows, suggesting an ongoing bullish structure. He described the present correction as a liquidity reset, not a shift to a long-term bearish trend.
The analyst further identified a fair value gap between $47 and $54 based on the weekly price range. A bullish order block was also observed in the $38 to $43 zone, aligning with the 0.382 and 0.5 Fibonacci retracement levels. According to Patel, buyers must defend these zones to reestablish bullish momentum and potentially aim for new highs. If the token achieves a breakout, he sees $150 as a feasible long-term price target under favorable conditions.
The technical setup carries a clear invalidation point. Patel cautioned that if HYPE closes below the 0.618 Fibonacci retracement at $34 on the weekly chart, it could trigger a broader bearish outlook and invalidate the current scenario.
Spot ETF data and trading flowsOn-chain analytics platform SoSoValue reported that the HYPE spot ETF recorded a net daily outflow of $1.02 million on July 23, reducing cumulative inflows by $299.62 million. Following this session, the ETF’s total net asset value stood at $294.15 million. No net flow was documented on July 22, maintaining cumulative funds at $300.64 million.
Additional daily net outflows occurred earlier in the week, with $698,040 withdrawn on July 21 and a notable $5.45 million outflow on July 17. The ETF’s trading flows suggested that investor appetite for HYPE may be weakening in the near term.
DateDaily Net FlowCumulative Net InflowsJuly 23$-1.02 million$299.62 millionJuly 22$0$300.64 millionJuly 21$-698,040$301.34 millionJuly 17$-5.45 million–Hyperliquid, which develops decentralized finance trading infrastructure, has seen increased attention in recent months following the introduction of its spot ETF. This product allows traditional investors to gain exposure to the HYPE token through regulated investment channels.
Mini dictionary: Spot ETF, or exchange traded fund, refers to an investment fund traded on exchanges, designed to track the price of an underlying asset. In the case of HYPE, this allows investors to invest in the token without directly purchasing or holding it.
Momentum indicators and outlookTechnical data from TradingView showed HYPE’s Relative Strength Index standing at 40.41, with its daily moving average at 44.49. Both readings kept RSI below the neutral 50 level, but above the oversold benchmark of 30, signaling a cautious mood among traders.
The Moving Average Convergence Divergence (MACD) metric also pointed to negative momentum. The MACD line registered at -1.785, lagging behind the signal line at -0.981. The histogram, measuring -0.804, confirmed the ongoing bearish trend in HYPE’s price movement for the short term.
The convergence of reduced spot ETF inflows, lower trading volume, and technical warning signals currently places HYPE at a pivotal point. Market participants are closely watching the identified support levels for cues on the token’s next move.
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.
After failing to break above significant resistance levels, XRP is once again trading close to the $1 mark. The small ascending support trendline that held throughout the majority of July is now under pressure as the asset has fallen below its short-term moving averages. XRP may soon return to $1, a psychological level that has consistently drawn buyers but is growing more vulnerable after several tests, if sellers are able to disprove this support.
Over the previous few sessions, the technical picture has gotten worse. XRP made a brief attempt to move back toward the 50-day EMA, but it was rejected almost instantly, indicating that bullish momentum is still weak. The 200-day moving average is still much higher at $1.43, indicating that the overall trend is still bearish, even though the price is currently trading below the 26-, 50-, and 100-day moving averages. The trading range is getting smaller, which is a worrying signal.
XRP/USDT Chart by TradingViewIn order to keep prices stable, XRP has been generating lower highs while depending on a progressively rising support line. Because the dominant trend is still downward, this structure frequently resolves with a sharp breakout. Unless buyers abruptly reclaim nearby resistance around $1.11-$1.12, the likelihood favors a move to the downside. A bullish reversal is also not currently supported by volume.
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During recent attempts at recovery, trading activity has remained comparatively low, suggesting that buyers are reluctant to commit new funds. In the meantime, before XRP could gain any significant upward momentum, each push toward resistance has drawn selling pressure. Near 48, the Relative Strength Index is in a neutral range that allows for movement in either direction. Nonetheless, declining price action and a neutral RSI typically indicate waning momentum rather than accumulation.
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Before confidence in a long-term recovery can resume, bulls would prefer to see the RSI rise back above 50 along with increased trading volume. The $1 barrier is still crucial. After multiple tests, psychological support frequently deteriorates, and XRP has already spent a number of weeks just above that level.
Stop-loss orders may be triggered by a daily close below $1, which would hasten selling toward the next support area at $0.95. Bulls have a simple but difficult path. While maintaining the ascending support line, XRP needs to recover the moving averages that are grouped between $1.11 and $1.15.
The asset is currently at one of its most significant technical crossroads in recent months, as the risk of losing the $1 level increases considerably in the absence of that recovery.
Zcash's psychological thresholdAfter yet another erratic week, Zcash has returned to one of the most significant psychological price levels of its current cycle, with the asset trying to hold above $500. The privacy-focused cryptocurrency has fallen below its local highs near $580 due to recent selling pressure, but the overall technical structure is still positive, so the upcoming sessions will be crucial in determining whether the most recent decline is just a healthy correction or the start of a deeper retracement.
ZEC/USDT Chart by TradingViewTechnically speaking, ZEC is still trading above every significant moving average. The 100-day and 200-day moving averages are significantly lower, at $460 and $408, respectively, while the 50-day EMA is situated around $476.
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Despite recent weakness, this alignment shows that the long-term trend is still bullish. Buyers maintain the overall advantage as long as the price remains above these dynamic support levels.
Because it now acts as both a short-term technical pivot and psychological support, the $500 area is especially significant. In order to absorb profits from traders who entered much lower, Zcash required a period of consolidation following an intense rally in May and July.
Compared to the explosive buying that drove the previous breakout, the current decline has coincided with noticeably lower trading volume, indicating that panic selling has not yet taken hold. Additionally, momentum indicators suggest a cooling rather than a complete reversal. After previously reaching overbought conditions, the Relative Strength Index has retreated to the neutral zone around 49. With this reset, the market has more room to make a higher move without needing a lot of speculative momentum.
The first upside target is still the recent swing high around $580 if buyers are successful in defending the $500 region. A strong move above that level could reopen the path toward the $650–$680 area, where ZEC faced significant resistance earlier this year.
Hyperliquid's price testOne of the most significant support zones that Hyperliquid (HYPE) has tested since its explosive rally earlier this year is drawing closer. The token has retreated toward the 100-day moving average around $57, where buyers are starting to show signs of returning to the market, following a decline from recent highs above $75. A recovery toward $70 is still a plausible scenario if this level holds.
HYPE/USDT Chart by TradingViewAlthough a large portion of HYPE's July gains have been erased by the recent correction, the overall trend has not yet broken. The 100-day moving average is serving as immediate dynamic support, and the asset is still trading comfortably above its rising 200-day moving average near $50. As a result, a technical cushion is created, which may serve as the basis for another bullish leg. Support at $57 is especially crucial because it corresponds with past breakout territory.
After a powerful rally, markets frequently revisit previous resistance, and successful retests frequently serve as the impetus for subsequent advances. Today's candle indicates that buyers are defending the level despite ongoing selling pressure, suggesting that HYPE has so far respected this area. Momentum indicators also suggest that the correction may be getting close to exhaustion.
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The Relative Strength Index is at its lowest point in a few weeks, falling into the low 40s. This shows that the overheated conditions observed during the June rally have essentially been reset, even though it does not necessarily indicate a reversal. In the past, once momentum cooled into this range, HYPE frequently resumed its uptrend. The short-term and medium-term moving averages, concentrated between $63 and $65, currently represent the biggest barrier for bulls.
A clear close above those levels would probably rekindle buying interest and refocus attention on the $70 mark. After that, the next obvious target is the prior highs, which were between $75 and $76.
Conversely, the bullish outlook would be considerably weakened if the $57 support were lost. Stronger long-term support is found at the 200-day moving average near $50, and a breakdown below the 100-day moving average could expose HYPE to a deeper correction.
As of right now, though, the chart continues to favor a rebound over a trend reversal. HYPE is positioned on a technically important support zone, the long-term structure is still bullish, and the correction has restored momentum to healthier levels. A recovery toward $70 is very likely in the upcoming sessions if buyers continue defending this area.
XRP has returned to a critical psychological threshold near $1, following repeated failures to break above key resistance levels. Recent price action shows that the ascending short-term support that held throughout much of July is under significant pressure, with XRP dropping below its short-term moving averages and showing signs of continued weakness.
XRP struggles as crucial support weakensAnalysts noted that XRP, the digital asset developed by Ripple, recently attempted a recovery toward its 50-day exponential moving average (EMA) but faced a swift rejection. The price continues to trade below the 26-, 50-, and 100-day moving averages, while the 200-day moving average remains higher at $1.43, reinforcing a prevailing bearish trend. The current narrowing of the trading range raises concerns among market participants.
While XRP has formed lower highs and relies on a slowly ascending support line, this structure is often associated with sharp breakouts. With buyers struggling to reclaim resistance between $1.11 and $1.12, the likelihood of further downside persists. Volume analysis indicates buyers have been hesitant, with trading activity remaining subdued even during rebound attempts.
Market observers identified that XRP’s Relative Strength Index (RSI) has drifted near 48, sitting in a neutral zone that historically permits movement in either direction, although the declining price trend combined with the neutral RSI suggests momentum may be waning rather than building.
For bullish sentiment to return, the RSI would need to climb above 50 with a concurrent rise in trading volume. The $1 mark remains a vital level and, after several tests, the resilience of this psychological support appears to be fading. A daily close below $1 could trigger a wave of stop-loss orders, potentially accelerating a drop toward the next support at $0.95.
To reverse current bearish trends, bulls must maintain the rising support line and push above key moving averages clustered between $1.11 and $1.15. Without a clear recovery, analysts warn that XRP is at one of its most pivotal technical moments in recent months.
Support/ResistancePrice levelTechnical SignalMajor resistance$1.11–$1.12Short-term rejectionPsychological support$1.00Repeated testsNext support$0.95Stop-loss trigger200-day moving average$1.43Bears in controlZcash holds its ground above key moving averagesZcash (ZEC), a privacy-focused cryptocurrency launched in 2016, is currently trading above all major moving averages, with the 50-day EMA at $476 and significant longer-term supports—the 100-day and 200-day moving averages—at $460 and $408, respectively. Despite recent pullbacks, this alignment points to a longer-term bullish bias as long as prices stay above these levels.
The $500 zone has emerged as both a technical pivot and an important psychological level. After a sharp rally in May and July, Zcash has experienced a period of consolidation, allowing the market to absorb profit-taking. Trading volumes have dropped, indicating a lack of panic selling, while momentum indicators point to a cooling phase rather than a full reversal.
The Relative Strength Index for ZEC, now near 49, suggests the asset has moved out of overbought territory. If buyers can defend the $500 support, attention turns first to the recent swing high at $580 and then to the significant resistance between $650 and $680.
Hyperliquid tests pivotal support zoneHyperliquid (HYPE) is nearing one of its most important support areas since its notable rally earlier this year. The asset has pulled back toward its 100-day moving average at $57 after reaching highs above $75, with fresh buying interest emerging at these levels. Should this support hold, a move back to $70 remains possible.
Despite recent corrections that erased much of HYPE’s July gains, the overall upward structure remains intact. The 100-day moving average is providing dynamic support, and the token continues to trade above its 200-day moving average near $50.
Market participants are closely monitoring the $57 zone, as it aligns with previous breakout levels and could serve as a base for renewed advances. Today’s trading patterns indicate ongoing defense of this threshold, while the RSI has reset to the low 40s, signaling that the excesses from the past rally have largely abated.
For HYPE bulls, the next challenge lies in overcoming short- and medium-term resistances at $63–$65. A clear move above this range would likely rekindle buying momentum and refocus attention on the $70 level, followed by previous highs between $75 and $76. However, a loss of support at $57 could point toward a more significant downtrend, with strong longer-term support found at the 200-day moving average near $50.
If buyers continue to defend current levels, HYPE is well-positioned for a recovery, with technical indicators supporting the possibility of a rebound toward $70 in the near term.
For now, the dominant chart structure and restored momentum suggest the correction phase may be nearing its end as buyers regroup at major support.
Mini dictionary: Hyperliquid (HYPE), an emerging digital asset, has attracted attention for its rapid price movements and growing on-chain trading activity. Its technical performance is often monitored using moving averages and relative strength indicators to gauge market sentiment and potential turning points.
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: Bouncing Off Support But EMAs Remain The WallHyperliquid, as measured by Hyperliquid Strategies Inc (NASDAQ:PURR), bounced 2% after tagging the $56 to $58 demand zone, a key support band being tested for the first time since the June rally.
Crypto analyst ALTF4 noted on X that Hyperliquid’s growth has moved beyond trading volume into market structure, with roughly $194 billion in 30-day perpetual volume, $11.5 billion in open interest, and non-crypto markets including equities, FX, and commodities now trading on the same venue.
The chart, though, requires patience. The 20-day EMA at $62.56 and 50-day EMA at $62.31 are converging just above current price, forming a dense resistance cluster that needs to flip to support before the setup carries conviction.
Key levels for HYPE: $56 to $58 — Demand zone support; losing this exposes $52 $62.31 to $62.56 — EMA cluster, the resistance wall to reclaim $76 — Chart projection target on a confirmed EMA reclaim Uniswap: Cup and Handle Breakout with Supertrend ConfirmationUniswap (CRYPTO: UNI) surges to $3.8, completing a textbook cup and handle breakout. The cup formed from May through June, the handle consolidated through early July, and price has now cleared the breakout level with conviction.
The Supertrend indicator flipped green at $3.23, adding trend confirmation to the pattern.
Price now sits above all four major EMAs and is challenging the 200-day EMA at $3.9 as the final overhead barrier before open air. The cup and handle measured move targets $4.80 to $5 on continuation.
Key levels for UNI: $3.9 — 200-day EMA, last resistance before the measured move opens $4 — Psychological resistance above $3.54 — 20-day EMA support on any retest; holding here keeps the breakout valid $3.23 — Supertrend level, the line that invalidates the setup on a close below Monero: The Cleanest Breakout Setup In The Market Right NowMonero (CRYPTO: XMR) pushes to $357.28, pressing directly into the descending trendline that has capped every rally since late January.
Bollinger Bands are squeezing tight with price coiling at the upper band at $358.63, a classic compression pattern before a directional expansion.
All four EMAs are clustering between $333 and $354, essentially flat, confirming the squeeze is real.
A daily close above $360 clears the descending trendline and triggers the Bollinger expansion, with a breakout target of $400 to $420. Rejection here sends the price back to $333.
Key levels for XMR: $358.63 — Bollinger upper band and descending trendline confluence, the breakout line $333 — Bollinger midband support on rejection $400 to $420 — measured move target on confirmed breakout Image Source: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
In brief Real-world assets (RWAs)—tokenized versions of traditional financial instruments like company stocks, crude oil, and market indices traded as blockchain contracts—accounted for 54% of Hyperliquid's weekly trading volume during July 13–19, the first time non-crypto assets have dominated the exchange. ARK Invest's director of digital assets research Lorenzo Valente said Hyperliquid's $26 billion in RWA trading last week surpassed the combined crypto perpetual volume of every other decentralized exchange on earth. South Korean chipmaker SK Hynix—a direct rival to Samsung in AI memory production—drove most of the interest on Hyperliquid's third-party market platform. For the first time, traders on Hyperliquid moved more money through stocks and commodities than through crypto. Lorenzo Valente, director of digital assets research at ARK Invest, announced the milestone Thursday on X: "We are entering a new era for DeFi." Hyperliquid, he said, had for the first time generated more trading volume from so-called real-world assets, or RWAs, than from crypto in a single week.
RWAs—meaning tokenized versions of traditional financial instruments like company shares, crude oil, or the S&P 500, converted into blockchain-based contracts that traders can buy and sell around the clock—totaled $25.1 billion during July 13–19, or 52% of Hyperliquid's $48.2 billion in weekly volume, per Blockworks data. Valente put the latest running figure at $26 billion and 54%.
The context makes that number land harder. Total perpetual DEX volume across the industry last week was $79 billion. Hyperliquid processed $50 billion of it. The $26 billion in RWA trading alone—just the stock bets, the oil contracts, the index plays—was larger than the combined crypto perpetual volume of every other decentralized exchange on the market.
How stocks ended up on a crypto exchangeThe mechanism behind this is HIP-3, a framework Hyperliquid launched in October 2025 that lets outside teams build their own perpetual markets—contracts that track an asset's price with no expiry date, letting traders bet on it going up or down with borrowed money—using Hyperliquid's existing infrastructure. Builders stake 500,000 HYPE tokens, currently worth roughly $30 million, to access the system.
We are entering a new era for DeFi.
For the first time ever, @HyperliquidX generated more volume from RWAs than crypto in a single week. RWAs accounted for 54% of total trading volume.
An even more interesting trend: since June, single stocks have overtaken indices and… pic.twitter.com/INbfCwc5pJ
— Lorenzo Valente (@LorenzoARK) July 23, 2026
Since June, individual stocks have overtaken indices and commodities inside HIP-3, with single-stock perpetuals now making up 61% of all RWA trading. The HIP-3 platform has already hosted pre-IPO markets for SpaceX, Anthropic, and OpenAI. "RWAs accounted for 54% of total trading volume," Valente noted.
The most-traded stock is SK Hynix, the South Korean memory chipmaker that competes with Samsung in supplying DRAM and high-bandwidth memory for AI systems.
ARK's interest in Hyperliquid goes back further. In September 2025, CEO Cathie Wood told the Master Investor podcast that the platform "reminds me of Solana in the earlier days," adding that Solana had proven its worth and earned its place with the biggest names in crypto. She called Hyperliquid "the new kid on the block," and ARK has not confirmed any position since.
Now one of ARK's own analysts is raising a harder question for the whole industry. "I'm no longer convinced RWA trading will naturally aggregate on the same venue as crypto," Valente wrote, predicting that dedicated category leaders may emerge within RWA—and that a platform's grip on Bitcoin and Ethereum flow may prove "far less important than many people assume."
Traders still focused only on crypto tokens, he added, "are focusing on the wrong market."
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Real-world assets (RWAs)—tokenized versions of traditional financial instruments like company stocks, crude oil, and market indices traded as blockchain contracts—accounted for 54% of Hyperliquid's weekly trading volume during July 13–19, the first time non-crypto assets have dominated the exchange. ARK Invest's director of digital assets research Lorenzo Valente said Hyperliquid's $26 billion in RWA trading last week surpassed the combined crypto perpetual volume of every other decentralized exchange on earth. South Korean chipmaker SK Hynix—a direct rival to Samsung in AI memory production—drove most of the interest on Hyperliquid's third-party market platform. For the first time, traders on Hyperliquid moved more money through stocks and commodities than through crypto. Lorenzo Valente, director of digital assets research at ARK Invest, announced the milestone Thursday on X: "We are entering a new era for DeFi." Hyperliquid, he said, had for the first time generated more trading volume from so-called real-world assets, or RWAs, than from crypto in a single week.
RWAs—meaning tokenized versions of traditional financial instruments like company shares, crude oil, or the S&P 500, converted into blockchain-based contracts that traders can buy and sell around the clock—totaled $25.1 billion during July 13–19, or 52% of Hyperliquid's $48.2 billion in weekly volume, per Blockworks data. Valente put the latest running figure at $26 billion and 54%.
The context makes that number land harder. Total perpetual DEX volume across the industry last week was $79 billion. Hyperliquid processed $50 billion of it. The $26 billion in RWA trading alone—just the stock bets, the oil contracts, the index plays—was larger than the combined crypto perpetual volume of every other decentralized exchange on the market.
How stocks ended up on a crypto exchangeThe mechanism behind this is HIP-3, a framework Hyperliquid launched in October 2025 that lets outside teams build their own perpetual markets—contracts that track an asset's price with no expiry date, letting traders bet on it going up or down with borrowed money—using Hyperliquid's existing infrastructure. Builders stake 500,000 HYPE tokens, currently worth roughly $30 million, to access the system.
We are entering a new era for DeFi.
For the first time ever, @HyperliquidX generated more volume from RWAs than crypto in a single week. RWAs accounted for 54% of total trading volume.
An even more interesting trend: since June, single stocks have overtaken indices and… pic.twitter.com/INbfCwc5pJ
— Lorenzo Valente (@LorenzoARK) July 23, 2026
Since June, individual stocks have overtaken indices and commodities inside HIP-3, with single-stock perpetuals now making up 61% of all RWA trading. The HIP-3 platform has already hosted pre-IPO markets for SpaceX, Anthropic, and OpenAI. "RWAs accounted for 54% of total trading volume," Valente noted.
The most-traded stock is SK Hynix, the South Korean memory chipmaker that competes with Samsung in supplying DRAM and high-bandwidth memory for AI systems.
ARK's interest in Hyperliquid goes back further. In September 2025, CEO Cathie Wood told the Master Investor podcast that the platform "reminds me of Solana in the earlier days," adding that Solana had proven its worth and earned its place with the biggest names in crypto. She called Hyperliquid "the new kid on the block," and ARK has not confirmed any position since.
Now one of ARK's own analysts is raising a harder question for the whole industry. "I'm no longer convinced RWA trading will naturally aggregate on the same venue as crypto," Valente wrote, predicting that dedicated category leaders may emerge within RWA—and that a platform's grip on Bitcoin and Ethereum flow may prove "far less important than many people assume."
Traders still focused only on crypto tokens, he added, "are focusing on the wrong market."
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Perpetual decentralized exchange (DEX) Hyperliquid’s weekly trading volume in tokenized real-world assets (RWAs) exceeded that of all other asset categories combined for the first time.
RWAs generated $25.1 billion in trading volume from July 13 to July 19, accounting for 52% of Hyperliquid’s total weekly volume of $48.2 billion, according to Blockworks data.
“Hyperliquid’s RWA market alone was larger than the combined crypto perpetual volume of every other DEX,” wrote ARK Invest’s research director for digital assets, Lorenzo Valente, in a Thursday X post.
The milestone reflects growing demand for tokenized assets on Hyperliquid. Over the past month, RWA holders grew by 32% to 1.25 million users, while the total value of tokenized RWAs rose by 3.5% to $36.7 billion, according to data aggregator RWA.xyz.
Hyperliquid generated $7.6 million in revenue over the past week, according to DefiLlama. The perp DEX ranked third among crypto applications by weekly revenue, behind stablecoin issuers Tether and Circle, which generated $112 million and $45 million, respectively.
Major “structural shift” for crypto markets: Circle co-founderCrypto-native firms and traditional financial institutions have expanded tokenized asset offerings as they bring more financial assets onto blockchain networks. In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement.
Circle co-founder and CEO Jeremy Allaire said growing RWA trading on Hyperliquid marks a “major structural shift” in crypto markets, moving “away from speculating on endogenous digital commodities,” in a Friday X post.
Earlier in July, Pantera Capital said perpetual futures could become a dominant trading instrument beyond crypto, as perps offer structural advantages over traditional derivatives, including 24/7 trading, no contract expiries, simpler position management and continuous price discovery.
Hyperliquid’s growth has drawn attention from Wall Street institutions, including NYSE parent Intercontinental Exchange (ICE), whose CEO, Jeffrey Sprecher, urged regulators to create a “level playing field” for launching 24/7 onchain perpetual futures contracts.
Magazine: How Hong Kong is turning tokenized bonds into real market infrastructure
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Perpetual decentralized exchange (DEX) Hyperliquid’s weekly trading volume in tokenized real-world assets (RWAs) exceeded that of all other asset categories combined for the first time.
RWAs generated $25.1 billion in trading volume from July 13 to July 19, accounting for 52% of Hyperliquid’s total weekly volume of $48.2 billion, according to Blockworks data.
“Hyperliquid’s RWA market alone was larger than the combined crypto perpetual volume of every other DEX,” wrote ARK Invest’s research director for digital assets, Lorenzo Valente, in a Thursday X post.
The milestone reflects growing demand for tokenized assets on Hyperliquid. Over the past month, RWA holders grew by 32% to 1.25 million users, while the total value of tokenized RWAs rose by 3.5% to $36.7 billion, according to data aggregator RWA.xyz.
Hyperliquid generated $7.6 million in revenue over the past week, according to DefiLlama. The perp DEX ranked third among crypto applications by weekly revenue, behind stablecoin issuers Tether and Circle, which generated $112 million and $45 million, respectively.
Major “structural shift” for crypto markets: Circle co-founderCrypto-native firms and traditional financial institutions have expanded tokenized asset offerings as they bring more financial assets onto blockchain networks. In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement.
Circle co-founder and CEO Jeremy Allaire said growing RWA trading on Hyperliquid marks a “major structural shift” in crypto markets, moving “away from speculating on endogenous digital commodities,” in a Friday X post.
Earlier in July, Pantera Capital said perpetual futures could become a dominant trading instrument beyond crypto, as perps offer structural advantages over traditional derivatives, including 24/7 trading, no contract expiries, simpler position management and continuous price discovery.
Hyperliquid’s growth has drawn attention from Wall Street institutions, including NYSE parent Intercontinental Exchange (ICE), whose CEO, Jeffrey Sprecher, urged regulators to create a “level playing field” for launching 24/7 onchain perpetual futures contracts.
Magazine: How Hong Kong is turning tokenized bonds into real market infrastructure
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
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.
Duan Yongping has sold SpaceX put options with a strike price of $92.
Renowned investor Duan Yongping stated yesterday in response to a community user's question that he has started selling put options on SpaceX. This is his typical "potential acquisition" strategy. According to the live trading records of the SpaceX put options Duan shared, his quoted price was around 23.20, with actual execution at 23.26 (1,000 contracts), earning him a premium of approximately $2.32 million. Calculated over a 5-month term, the yield is roughly 25.35%, with an annualized return of about 60%. He noted, "I want to support Elon Musk's dream."
1 hours ago
The United States and the United Kingdom plan to discuss forming an international alliance to protect maritime shipping in the Strait of Hormuz.
According to AXIOS: European diplomats say the U.S. and the U.K. are discussing holding a high-level meeting in London next week, with the meeting focusing on a potential plan to establish an international coalition to protect maritime shipping in the Strait of Hormuz.
1 hours ago
A prominent trader says Bitcoin’s cycle is accelerating, and firmly believes this cycle will still hit a new high before the halving.
Renowned trader Killa (@KillaXBT) stated in a post that Bitcoin’s cycle is accelerating. The previous cycle took just 476 days to rise from its bottom to a new all-time high (ATH), far faster than the two prior cycles. He forecasts this cycle will also hit a new high ahead of the next halving. Killa, a BTC-focused quantitative trader, accurately predicted the peak of the current bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 before switching to long positions during the broad market sell-off on June 5.
1 hours ago
Qualcomm notifies its customers it can no longer absorb price hikes, and will raise prices by double-digit percentages.
Bloomberg cited a letter reporting that Qualcomm has informed its clients it can no longer absorb price hikes and will implement double-digit percentage price increases. Following the news, BIT (bit.com) market data shows Qualcomm’s decline narrowed, while Nvidia climbed 1.2% to hit a new daily high.
1 hours ago
OpenAI CEO: Hopes the U.S. wins in the open-source AI sector, and is "pleased to see" Jensen Huang's remarks.
OpenAI CEO Sam Altman said he hopes the U.S. will lead in both open-source AI and proprietary AI models, adding that he "welcomes" the statement Nvidia’s CEO made on social media regarding the open letter jointly issued by over 20 U.S. tech companies.
Hyperliquid ekosisteminin yerel tokeni HYPE, son 24 saatte yaşadığı değer kaybına rağmen yatırımcıların radarında kalmaya devam ediyor. Yazının hazırlandığı sırada HYPE yaklaşık 57,88 dolar seviyesinde işlem görürken, işlem hacmi 320,77 milyon dolar, piyasa değeri ise 14,62 milyar dolar olarak kaydedildi. Analistler, kısa vadeli düzeltme riskinin sürdüğünü belirtirken, kritik destek bölgesinin korunması halinde fiyatın yeniden güçlü bir yükseliş trendine girebileceğini ifade ediyor.
Teknik Görünümde Destek Bölgesi Kritik Önem Taşıyor Kripto para analisti Wick, HYPE fiyatının güçlü yükselişin ardından önemli bir direnç bölgesine ulaştığını ve mevcut görünümün geçmiş piyasa döngüleriyle benzerlik taşıdığını belirtiyor. Analiste göre grafikte oluşan A-B-C formasyonu, yükseliş, düzeltme ve yeniden toparlanma süreçlerinden oluşan klasik bir teknik yapı sergiliyor. Bu nedenle yaşanabilecek olası geri çekilmelerde 72 ile 100 dolar aralığı güçlü bir talep bölgesi olarak öne çıkıyor. Bu destek bölgesinin korunması, uzun vadeli yükseliş trendinin devam etmesi açısından kritik önem taşıyor.
İlginizi Çekebilir: Altın 4 Bin Dolar Direncinde!: Gözler Fed Faiz Kararında!
Wick’e göre HYPE, kritik destek alanı üzerinde kalmayı başarırsa yeni alım dalgası başlayabilir. Bu senaryoda fiyatın yeniden ivme kazanarak ilk etapta 120 dolar, ardından ise 150 dolar seviyelerine doğru hareket edebileceği değerlendiriliyor. Özellikle yatırımcı ilgisinin destek bölgesinde artması, yukarı yönlü hareketi hızlandırabilecek en önemli faktörlerden biri olarak görülüyor. Buna karşılık destek seviyesinin kaybedilmesi durumunda teknik görünüm önemli ölçüde zayıflayabilir.
72 Doların Altında Risk Artıyor Analistler, 72 dolar seviyesinin altında gerçekleşecek kalıcı fiyatlamaların daha derin bir düzeltmenin önünü açabileceğini belirtiyor. Bu durumda HYPE fiyatının yaklaşık 40 dolar seviyesinde bulunan uzun vadeli birikim bölgesine kadar geri çekilme ihtimali bulunuyor. Fiyat tarafındaki dalgalanmaya rağmen Hyperliquid ekosisteminde geliştirme faaliyetleri hız kesmeden sürüyor. PerpGame tarafından paylaşılan bilgilere göre, sürekli vadeli işlem (perpetual futures) sepetlerini temel alan yapay zeka ajan tokenleri artık HYPER EVM ağı üzerinde kullanılabiliyor.
Bu yeni ürünler sayesinde yatırımcılar:
Yapay zeka temalı token sepetlerine erişebiliyor. Sürekli vadeli işlem altyapısından faydalanabiliyor. Daha geniş portföy çeşitlendirme imkânı elde edebiliyor. HYPER EVM tabanlı DeFi uygulamalarını kullanabiliyor. Bu gelişmenin Hyperliquid ekosistemine yeni kullanıcı ve sermaye çekmesi bekleniyor.
HYPE İçin Gözler Hem Grafikte Hem Ekosistemde Uzmanlara göre HYPE fiyatının önümüzdeki dönemdeki performansı yalnızca teknik seviyelere bağlı olmayacak. Bir yandan yatırımcılar 72-100 dolar destek bölgesini yakından takip ederken, diğer yandan HYPER EVM üzerinde geliştirilen yeni ürünler ve ekosisteme giriş yapan sermaye de fiyat üzerinde belirleyici rol oynayabilir. Özellikle yapay zeka odaklı finansal ürünlerin yaygınlaşması, Hyperliquid ekosisteminin uzun vadeli büyümesini destekleyebilecek önemli gelişmeler arasında gösteriliyor. Önümüzdeki süreçte hem teknik seviyeler hem de ağ üzerindeki gelişmeler, HYPE’ın fiyat performansında belirleyici olmaya devam edecek.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Hyperliquid’s [HYPE] aggressive correction resumed after pausing on the 6th of July. The decline returned HYPE to one of its most closely watched support zones.
However, on-chain activity showed that long-term holders were increasing their exposure rather than exiting.
Recently, a single entity staked 1.49 million HYPE, worth roughly $88.2 million.
Source: Onchain Lens The entity distributed the stake across eight wallets, reducing its concentration within a single address.
Reports indicated that the wallets held their tokens for about nine months before staking them. That holding period suggested long-term positioning rather than short-term trading activity.
Why are holders staking more HYPE? The large deposit was part of a broader increase in Hyperliquid’s staking activity.
According to AMBCrypto’s recent analysis, Hyperliquid’s Network data recorded a 40% increase in Net Staking Flows. This pushed the total amount of staked HYPE to around 436 million tokens.
The increase could influence HYPE’s price because staking reduces the supply immediately available for trading.
However, staking alone cannot guarantee price appreciation.
Sustained inflows may still indicate that holders prefer earning staking rewards over selling during market weakness. In HYPE’s case, the timing aligned with the token’s return to a Demand Zone that previously attracted buyers.
This left traders watching whether reduced liquid supply could help stabilize HYPE’s correction.
Source: Staking Rewards Can HYPE defend the $52 zone? On the daily chart, HYPE’s broader Market Structure remained bullish despite its recent pullback. The decline returned HYPE to the $52–$58 Demand Zone.
This area previously produced several rebounds, making it an important level for buyers.
The zone also overlapped with the 200-day Exponential Moving Average [EMA] at $57.09.
Although HYPE traded below its 20-day and 50-day EMAs, the 200-day EMA remained a longer-term support reference.
If support holds alongside elevated staking, long-term holders may be absorbing available supply during the correction. By contrast, a decisive break below $52 could weaken the broader bullish structure and invite further selling.
The $64 resistance level remained the next major target if buyers regained control.
Source: TradingView Therefore, HYPE’s next move could depend on whether staking conviction translates into demand around $52–$58.
Final Summary HYPE returned to major support while Net Staking Flows increased by 40%. Holding $52 could support recovery, while a breakdown may deepen the correction.
VanEck Head of Digital Assets Research Matthew Sigel believes the next crypto bull market will be driven not by meme coins or speculative trading, but by the convergence of blockchain technology and traditional finance.
• Robinhood Markets stock is under selling pressure. What’s driving HOOD stock lower?
HYPE, HOOD Early LeadersHe added that Hyperliquid is on pace to generate $800 million in annualized revenue while using 99% of protocol revenue to repurchase HYPE tokens, reducing circulating supply.
Despite the crypto downturn, Hyperliquid has climbed roughly 146% this year. Sigel said the token could still double in value while remaining reasonably valued.
Robinhood’s recently launched Layer-2 blockchain is one of the strongest examples of financial convergence. Within two weeks of launch, Robinhood Chain reportedly attracted more than $300 million in deposits while processing roughly 3.6 million daily transactions.
Although much of the early activity involved meme coins rather than equities, he believes the underlying infrastructure has already demonstrated meaningful adoption.
Winners In The Next CycleSigel said crypto is beginning to show signs of forming a market bottom.
Since July 1, Bitcoin has gained roughly 9% while the Nasdaq-100 has declined about 6%, spot ETF flows have turned positive and market sentiment has improved.
The second category includes established financial companies aggressively adopting blockchain infrastructure rather than limiting themselves to pilot programs.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
The native token of Hyperliquid, HYPE, remains under the spotlight as its price structure signals continued bullish momentum, even amid short-term volatility. Observers have stated that a major support level could determine whether buyers sustain the rally or if the token will correct lower in the near term. Meanwhile, Hyperliquid’s ecosystem is expanding through the launch of new artificial intelligence (AI)-focused decentralized investment offerings via HYPER EVM.
HYPE technical outlook and support levelsAt press time, HYPE is trading at $57.88. The token registered a 24-hour trading volume of $320.77 million and boasts a market capitalization of $14.62 billion. Despite a 2.33% decline on the day, the price structure has shown resilience, suggesting that bullish continuation is still possible if support levels hold.
Technical analyst Wick assessed that HYPE surged from below $50, reaching the $160 resistance zone. However, this move has placed the token at a local peak, a level where profit-taking and corrective selling could emerge. Wick drew parallels to two earlier market moves and identified a likely demand region between $72 and $100, forming part of a recurring rally-correction-recovery pattern seen before.
Wick highlighted that if buyers defend the $72 to $100 support, HYPE could attract new demand and resume gains aiming for targets between $120 and $150.
Below this support, a breakdown could trigger a deeper correction, with the next significant accumulation area identified around $40.
Support LevelUpside TargetDownside Risk$72-$100$120-$150$40Analysts have noted that the overall direction of the token is currently influenced by the broader cryptocurrency market, which has seen downward pressure as Bitcoin begins to retreat.
Ecosystem growth: New AI investment productsBeyond price movements, the Hyperliquid platform continues to innovate. New decentralized investment products focused on artificial intelligence have recently been deployed through HYPER EVM. This blockchain-based protocol now supports “AI agent tokens,” which are backed by baskets of perpetual futures contracts.
These AI agent tokens give users exposure to select AI-driven cryptocurrencies, diversifying investor portfolios and increasing capital efficiency within the DeFi sector. Market data from PerpGame indicated that these products aim to expand user participation and broaden the platform’s reach.
Participants are now able to engage with AI agent tokens collateralized by baskets of perpetual contracts, gaining structured exposure to this emerging asset class.
Mini dictionary: HYPER EVM is a blockchain environment within the Hyperliquid platform that enables smart contracts and supports the launch of decentralized applications, including AI-based investment products.
Market context and outlookDespite active network development and positive expansion in decentralized finance, HYPE has faced additional downward pressure following a general downturn in the crypto market. Bitcoin’s recent slide has contributed to the cautious sentiment surrounding emerging tokens, including HYPE.
The broader market environment is adding volatility to HYPE’s outlook, and its near-term path will depend on whether traders can defend critical support levels and ride the next wave of buying momentum.
Traders are watching closely to see if HYPE can build on its technical structure and ecosystem growth, or if the correction will deepen toward the next accumulation region.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
Key Takeaways Major institutional players including Multicoin Capital, Selini Capital, and Galaxy Digital have initiated withdrawals totaling approximately $150M in HYPE tokens The token experienced an 8% decline, touching $58 before finding support at $59.19 Pending withdrawals represent nearly 2x the token’s daily spot trading volume of $72.8M Selini Capital’s withdrawal appears connected to the termination of a HIP-3 perpetuals market operated by DreamCash Multicoin’s managing partner Tushar Jain publicly stated the unstaked tokens aren’t intended for immediate sale; withdrawal completion scheduled for July 28 The HYPE token from Hyperliquid experienced a sharp 8% correction from its recent peak this Wednesday following news that three prominent cryptocurrency investment funds have initiated withdrawal processes for approximately $150 million worth of tokens.
Hyperliquid (HYPE) Price The breakdown shows Multicoin Capital controlling $138.78 million in staked HYPE tokens, with approximately $116 million currently pending withdrawal from the staking protocol. Meanwhile, Selini Capital has queued $4.4 million and Galaxy Digital has initiated a $29.4 million HYPE withdrawal request.
On-chain tracking also revealed that a cryptocurrency wallet associated with Multicoin transferred approximately 167,000 HYPE tokens—valued around $11.2 million—to the Coinbase exchange. HYPE’s price momentarily dipped to $57.39 before stabilizing at $59.19, per CoinGecko data. The 24-hour trading activity exceeded $415 million.
Multicoin-linked wallet moves 490K $HYPE (~$29.48M) in 2 days
A wallet likely belonging to Multicoin Capital just moved 93K $HYPE (~$5.48M) to fresh wallets.
New addresses:
• 0xFA2173AD69De51769d75934AcBCF5C2382B1B7F1
• 0x257F1352204A01f59abC5bc60384Bf4c1e5f8B70
This follows… pic.twitter.com/InfWQIXYFF
— Onchain Lens (@OnchainLens) July 23, 2026
Massive Withdrawal Queue Creates Market Imbalance The sheer magnitude of the $150 million withdrawal request represents almost twice the daily spot market activity for HYPE. Data from Block Liquidity indicates that spot market volume reached only $72.8 million during approximately 28 hours preceding Wednesday’s movements. Market participants included 1,463 distinct buyers versus 982 sellers. Wintermute emerged as the dominant net buyer with purchases exceeding $9 million, while the top net seller disposed of $5.2 million worth of tokens.
Over the trailing seven-day period, HYPE has declined approximately 11%, marking it as the weakest performer within the top 10 cryptocurrencies by market capitalization during this timeframe. ETF monitoring platform CoinGlass registered zero inflows on Wednesday, following Tuesday’s $0.7 million outflow. The token’s Futures Open Interest currently stands at $2.5 billion, reflecting a modest 0.5% decrease over 24 hours.
Technical analyst CryptosBatman highlighted on X that HYPE has breached its 50-day moving average following a six-month sustained rally above this threshold. The analyst identified a developing bearish continuation pattern and projected a subsequent price target of $55, derived from the 1.618 Fibonacci extension level—a price point that coincides with an important support zone.
After a 6-month rally above the 50-day MA, $HYPE has broken down from it.
Not just a usual breakdown, but a bearish continuation has formed as well.
The next target based on the 1.618 Fibonacci extension is $55, right at a support level. pic.twitter.com/mhDl4htYSo
— BATMAN ⚡ (@CryptosBatman) July 23, 2026
Understanding the Institutional Exit Strategy Selini Capital’s withdrawal decision appears directly linked to the closure of DreamCash’s HIP-3 CASH perpetuals market. The protocol architecture requires market operators to stake 500,000 HYPE tokens as collateral, which gets returned upon market termination. Market intelligence suggests Selini Capital may liquidate its HYPE holdings through over-the-counter trading desks.
The rationale behind Multicoin’s substantial unstaking remains more ambiguous. The venture firm recently spearheaded a $1.75 million seed funding round for Trasia, an Asian-focused trading infrastructure planning to introduce perpetual contracts for Asian equity markets on the Hyperliquid platform. Managing partner Tushar Jain clarified on X that the unstaked HYPE tokens weren’t earmarked for immediate liquidation.
The critical July 28 unlock deadline will provide definitive answers regarding the ultimate destination of these substantial token positions.
Currently, HYPE trades beneath its 50-day exponential moving average positioned at $62.52. For bullish momentum to return, the token must recapture the $60.72 level and cross back above the 50-day EMA to improve near-term technical sentiment. The Relative Strength Index hovers around 40 while the MACD indicator persists below the zero line, both technical signals suggesting ongoing bearish pressure.
The 200-day EMA at $50.77 continues to hold as a critical long-term support threshold.
A crypto whale has staked 2.93 million $HYPE tokens worth approximately $172 million in a single 24-hour window, according to on-chain analytics firm Lookonchain. The deposits were spread across 19 separate wallets, which analysts believe are controlled by the same holder.
The position was originally accumulated around nine months ago, leaving the whale sitting on an unrealized profit of roughly $44.5 million at current prices.
Why Staking $HYPE Matters The move is notable not just for its size but for what staking actually entails. Hyperliquid uses a delegated proof-of-stake consensus mechanism called HyperBFT, where validators must stake HYPE to participate in consensus and users can delegate their tokens to validators to earn staking rewards while helping secure the network. Stakers earn rewards following a dynamic formula inversely proportional to the square root of total HYPE staked, with rewards accruing every minute and distributed daily with automatic recompounding.
From a supply perspective, the decision to stake rather than sell carries a clear market signal. Staking removes tokens from liquid supply, tightening float, and ties validator economics to the token's price rather than fee revenue alone.
A Pattern of Large-Scale Accumulation This is not an isolated event. On-chain data has shown a consistent pattern of large holders locking up significant positions in recent months. Lookonchain data from June showed that three newly created wallets withdrew a combined 557,406 HYPE from Kraken and staked the tokens, a holding worth about $40.2 million at the time. Separately, Bitwise staked 1.775 million HYPE worth roughly $114 million on Hyperliquid, as reported by Lookonchain, through its Bitwise Hyperliquid ETF, which launched on NYSE Arca in May 2026.
The tokenomics reinforcing these decisions are also notable. Up to 97% of all trading fees generated on the platform are used to buy HYPE from the open market, creating persistent demand pressure that scales with trading volume. HYPE has a fixed maximum supply of 1 billion tokens, and the supply can only decrease over time through burns.
The whale's decision to stake rather than liquidate a position carrying tens of millions in unrealized gains suggests a longer-term conviction on the protocol's trajectory, even as other large holders, including Multicoin Capital, have recently moved to reduce their exposure.
Sources:
Bloomingbit: Hyperliquid Whale Buying Continues as $60 Million in Exchange Withdrawals Emerges
Hyperdash: HYPE Token Tokenomics, Staking and Buybacks
Bitcoin.com: Bitwise Stakes $114 Million in HYPE on Hyperliquid
Three major cryptocurrency investment firms have initiated the withdrawal of approximately $150 million in HYPE tokens from Hyperliquid, prompting an 8% decline in the token’s value and raising questions about market stability as institutional positions unwind.
Major holders move to withdrawHyperliquid, a decentralized exchange known for its derivatives marketplace, saw pronounced activity from key institutional stakeholders including Multicoin Capital, Selini Capital, and Galaxy Digital. Multicoin Capital, a prominent venture firm with significant influence in the digital asset sector, currently controls $138.78 million in staked HYPE tokens and has set in motion the withdrawal of about $116 million from the staking protocol.
Meanwhile, Selini Capital and Galaxy Digital have also joined the exodus, lining up withdrawals of $4.4 million and $29.4 million respectively. On-chain data showed a wallet linked to Multicoin sending around 167,000 HYPE (valued at approximately $11.2 million) to the Coinbase exchange, suggesting possible preparations for a major transaction.
As the news circulated, HYPE’s price tumbled briefly to $57.39 before recovering to $59.19. Over the past 24 hours, trading activity for HYPE surpassed $415 million. However, the amount of pending withdrawals nearly doubles the daily spot trading volume, which stood at $72.8 million within the latest 28-hour window.
FundPending HYPE WithdrawalMulticoin Capital$116 millionGalaxy Digital$29.4 millionSelini Capital$4.4 millionBlock Liquidity recorded 1,463 buyers against 982 sellers during this period, with market maker Wintermute accumulating more than $9 million in net buys. The top net seller offloaded tokens valued at $5.2 million.
Market reaction and trading metricsHYPE has lost roughly 11% over the preceding seven days, underperforming other top ten digital assets by market capitalization in the same period. Data from CoinGlass revealed no inflow into HYPE ETF instruments on Wednesday, following a modest outflow of $0.7 million on Tuesday. Futures Open Interest stands at $2.5 billion, registering a 0.5% decrease in 24 hours.
Technical analyst CryptosBatman identified a key technical shift as HYPE slipped below its 50-day moving average after maintaining strength above this level for six months. The analyst forecast a correction towards $55, which aligns with the 1.618 Fibonacci extension, suggesting a crucial support target as selling pressure mounts.
Markets have observed HYPE break down from its 50-day moving average, forming a bearish continuation pattern. Projections indicate that $55 is the next notable price level to watch, as it coincides with key technical support.
Institutional withdrawal motivationsSelini Capital’s move to withdraw tokens has been connected to the shutdown of DreamCash’s HIP-3 CASH perpetuals market. The protocol’s design mandates that market operators stake 500,000 HYPE tokens as collateral, which are reclaimed when the market closes. Observers believe Selini may offload these tokens using over-the-counter channels.
Multicoin Capital’s unstaking is somewhat less transparent. The firm recently led a $1.75 million seed round for Trasia, an infrastructure project aiming to introduce perpetual contracts for Asian equities on the Hyperliquid platform. Tushar Jain, Multicoin’s managing partner, clarified on X that the tokens being unstaked are not intended for immediate sale, and the withdrawal process will complete on July 28.
Although significant amounts are being withdrawn, these tokens are not planned for immediate sale on the open market, according to Multicoin Capital’s leadership.
The final disposition of these tokens will become clearer after the unlock date. Until then, the market faces continued speculation about potential selling pressure and sentiment shifts.
Technically, HYPE now trades below its 50-day exponential moving average at $62.52. For a bullish reversal, the token must regain levels above $60.72 and reclaim the 50-day EMA to reestablish upward momentum. The Relative Strength Index is hovering near 40, while the MACD indicator remains below zero—both factors indicate persistent bearish sentiment. The 200-day EMA, currently at $50.77, continues to serve as a crucial long-term support.
Mini dictionary: Hyperliquid, a decentralized derivatives exchange, allows users to trade perpetual contracts and offers staking mechanisms for native tokens such as HYPE. Institutional staking refers to large-scale holders securing blockchain networks or supporting market operations while earning rewards.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Key Takeaways Matt Hougan, Bitwise CIO, identifies Hyperliquid and Robinhood as primary catalysts for crypto’s upcoming bull market Hyperliquid has experienced a 146% surge in 2026 with projected annual revenue reaching $800 million Robinhood Chain debuted July 1, attracting $300 million in deposits in just 14 days Bitcoin has climbed 9% throughout July while the Nasdaq-100 declined 6% Demand indicators for Bitcoin are showing renewed positive momentum, according to Bitwise analysis The Chief Investment Officer at Bitwise, Matt Hougan, anticipates a fundamental shift in the next cryptocurrency bull market. Rather than speculative fervor powering price appreciation, he foresees revenue-producing platforms and traditional financial sector integration taking center stage.
Matt Hougan: hyperliquid:native could double and still be fairly valued.
crypto’s next bull market may not be about “crypto vs tradfi”
it may be about crypto becoming the rails for tradfi.
stablecoins, tokenized stocks, 24/7 markets, instant settlement, and DeFi are all… pic.twitter.com/Ee9HLZlgWC
— Hyperliquid Daily (@HYPERDailyTK) July 23, 2026
In a Wednesday market analysis, Hougan outlined his perspective, highlighting two particular drivers: Hyperliquid and Robinhood.
Hyperliquid’s Revenue Generation Captures Industry Attention Originally launching as a cryptocurrency derivatives exchange, Hyperliquid has evolved into a comprehensive Layer 1 blockchain platform. Approximately half of its current trading activity now involves traditional assets including oil futures, silver, and S&P 500 exposure.
In June, the platform achieved a milestone of $1 billion in cumulative revenue and projects roughly $800 million in earnings for the current year. The protocol allocates 99% of these revenues toward HYPE token buybacks, creating deflationary pressure and price support.
This approach has proven effective. HYPE has surged approximately 146% during 2026, substantially outperforming the wider cryptocurrency sector.
Hougan additionally highlighted Uniswap, Aave, and Morpho as protocols adopting comparable revenue-sharing token economics.
Robinhood Chain Brings Crypto Trading to Global Markets Robinhood unveiled its proprietary Layer 2 blockchain network, Robinhood Chain, on July 1. The infrastructure enables users across 120 nations to access tokenized equity trading around the clock.
In its first two weeks, the blockchain attracted more than $300 million in user deposits and facilitated 3.6 million transactions daily. The platform also provides access to decentralized finance protocols such as Uniswap and Morpho.
Hougan acknowledged that initial usage has centered on meme coins rather than tokenized securities, though he anticipates equity trading volume will expand progressively.
Looking beyond Robinhood, Hougan recognized Coinbase and BlackRock as entities with substantial blockchain engagement. He also mentioned Visa, Stripe, and JPMorgan as organizations worth monitoring.
Bitcoin has appreciated 9% since early July, contrasting with a 6% decline in the Nasdaq-100 during the identical timeframe. Hougan interprets this performance gap as an initial indicator of market stabilization.
Bitcoin’s apparent demand indicator, which calculates the differential between freshly mined coins and supply dormant for more than a year, is displaying signs of improvement. Andre Dragosch, Bitwise’s European research director, characterized the movement as “re-accelerating.”
Capital flows into Bitcoin exchange-traded funds have also reversed to positive territory following a stretch of withdrawals, suggesting renewed institutional participation.
Hougan maintained an optimistic outlook overall. “I suspect the coming bull market will be big enough to lift most of the sector,” he stated, expressing confidence in Bitcoin, Ethereum, and Solana.
He acknowledged, however, that increased traditional finance integration introduces additional vulnerabilities, including heightened exposure to macroeconomic disruptions and evolving regulatory frameworks.
Matt Hougan, Chief Investment Officer at Bitwise, expects the upcoming cryptocurrency bull market to be spearheaded by platforms generating real revenue and by deeper integration with traditional finance, rather than solely by speculation. Hougan outlined his views in a recent market analysis, drawing attention to two platforms he believes are pivotal: Hyperliquid and Robinhood.
Hyperliquid expands beyond crypto derivativesHyperliquid, which initially operated as a cryptocurrency derivatives exchange, has evolved into a multifunctional Layer 1 blockchain platform. According to recent data, roughly half of Hyperliquid’s current trading activity now includes exposure to traditional assets such as oil futures, silver, and the S&P 500, marking a significant expansion from digital assets to legacy markets.
In June, Hyperliquid surpassed $1 billion in cumulative revenue and is predicting annual earnings of $800 million for 2026. The platform’s protocol is structured to use 99% of these revenues for HYPE token buybacks, a strategy that has introduced deflationary pressures and strong support for the token’s price.
This mechanism appears to be effective: the value of HYPE has increased by about 146% in 2026, far outpacing many other digital assets during the same period.
Hougan also identified other protocols—namely Uniswap, Aave, and Morpho—as adopting similar models for sharing revenue with token holders.
Mini dictionary: Hyperliquid is a blockchain-based platform that started as a derivatives exchange and has transitioned to a Layer 1 blockchain supporting a range of asset classes, including both digital and traditional financial instruments.
PlatformRevenue Model2026 Revenue/ProjectionKey FeatureHyperliquidToken buybacks$800 million (projected)TradFi and crypto assetsUniswapFee distributionNot specifiedDecentralized exchangeAaveProtocol feesNot specifiedLending platformMorphoYield enhancementNot specifiedDeFi optimizationRobinhood Chain opens global access to tokenized tradingRobinhood, a commission-free trading platform known for popularizing equity trading among retail investors, launched its proprietary Layer 2 blockchain, Robinhood Chain, on July 1. The network supports 24/7 access to tokenized equities and is available to users in 120 countries, bringing traditional stocks to the blockchain sector.
In just 14 days, Robinhood Chain has attracted more than $300 million in user deposits and processed an average of 3.6 million transactions daily. The new blockchain integrates with decentralized finance applications including Uniswap and Morpho, broadening its utility for users.
Although early user activity has largely centered on meme coin trading rather than tokenized equities, Hougan suggested that trading in equities is likely to grow as adoption widens.
Mini dictionary: Robinhood is an American financial services company that provides commission-free trading of stocks, exchange-traded funds, and cryptocurrencies, now expanding into blockchain infrastructure with Robinhood Chain.
Bitcoin sees renewed demand amid institutional interestBeyond these two platforms, Hougan called attention to major institutions such as Coinbase and BlackRock, as well as financial giants including Visa, Stripe, and JPMorgan, who are also increasing their activity within blockchain and digital assets.
Bitcoin has recorded a 9% price rise through July, contrasting with a 6% fall in the Nasdaq-100 over the same period. Hougan interprets this outperformance as a sign of improving sentiment for digital assets.
A key demand indicator for Bitcoin—measuring the difference between newly mined coins and coins held dormant for over a year—is also improving. Andre Dragosch, Bitwise’s European research lead, described this trend as “re-accelerating.”
Recent data shows that fund inflows into Bitcoin exchange-traded funds have turned positive after a period of withdrawals, suggesting renewed interest from professional investors.
Hougan remains optimistic about the sector, projecting that the next bull market will be broad enough to benefit much of the industry, including Bitcoin, Ethereum, and Solana.
Still, he cautioned that closer integration with traditional finance brings additional risks—such as heightened exposure to overall economic trends and shifting regulatory requirements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin hovered near the $65,000 mark on Friday as escalating Middle East tensions weighed on sentiment in the cryptocurrency market, while Ethereum also traded lower.
Bitcoin was trading at $65,345, while Ethereum was at $1,877.
Over the past 24 hours, Bitcoin declined 0.43% and Ethereum fell 2.23%. Among major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin and Cardano dropped by as much as 4.09%, while Tron edged up 0.05%.
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Nischal Shetty, founder of WazirX, said that Bitcoin remained under pressure as geopolitical tensions in the Middle East dampened investor sentiment, prompting a shift toward safer assets. Ethereum also weakened, with traders closely monitoring institutional positioning and broader market uncertainty.
“Bitcoin's daily technical indicators remain neutral, with immediate support around $64,200–$64,500, while Futures traders are watching whether BTC can sustain a move back toward $66,000. For Ethereum traders, $1,840–$1,860 remains the key support zone, while $1,900 is the next major resistance,” Shetty further said.
The global crypto market capitalisation went down 0.7% to $2.22 trillion, according to CoinMarketCap.
Akshat Siddhant, Lead quant analyst, Mudrex said fresh attacks in the Middle East have pushed crude oil above $90 a barrel, while driving US bond yields to their highest levels in 18 months, weighing on risk assets.
Despite the weakness in price, US spot Bitcoin ETFs extended their inflow streak to seven consecutive sessions, attracting nearly $1 billion in total, Siddhant further said.
In the past week, Bitcoin and Ethereum were up 2.98% and 1.58% respectively. Among the major altcoins, BNB, Hyperliquid, and Dogecoin corrected upto 4.17% whereas XRP, Solana, Tron, and Cardano gained upto 4.47%.
Crypto markets are also facing pressure from tighter financial conditions. Bitcoin remains relatively stronger than Ethereum and major altcoins, with its four-hour structure constructive above $65,000, said Riya Sehgal, Research Analyst, Delta Exchange.
Here is what other analyst say
Vikram Subburaj, CEO, Giottus: Institutional demand has improved materially. US spot Bitcoin ETFs recorded approximately $999.3 million in inflows across seven consecutive positive sessions from July 14 to July 22. These inflows more than offset the $424.7 million outflow recorded on July 13. July 23 showed a preliminary $22.6 million outflow, although BlackRock’s IBIT figure remained unavailable.
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Avinash Shekhar, Co-Founder & CEO, Pi42: The latest correction across the crypto market reflects how quickly global geopolitical developments can influence investor sentiment across asset classes. Bitcoin’s pullback towards the mid $64,000 range, alongside weakness in Ethereum and other leading digital assets, comes amid heightened uncertainty following the escalation in the Iran conflict and a broader shift away from high-growth assets.
CoinSwitch Markets Desk: The July recovery could lose momentum if BTC fails to reclaim $65K, with the 21-day moving average near $64K acting as key support and $68K as the next major resistance. Investors may prefer disciplined positioning, limited leverage and gradual accumulation near support rather than chasing short-term rebounds.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH) Ethereum moved higher by 3% this week as buyers gained control of the price action since late June. This relief rally started once the support at $1,500 was tested and held.
At the time of this post, ETH is facing some resistance as the price approaches the key psychological level at $2,000. It is likely to bring back sellers and could send the price into a pullback.
Looking ahead, the cryptocurrency remains in a macro downtrend. While this rally is a positive change, sustaining it beyond $2,000 seems a big ask right now. Only if $2,000 turns into support does ETH have a good shot at breaking the prevailing downtrend.
Source: TradingView Ripple (XRP) XRP also managed to book a 3% gain this week as buyers have kept the price well above the key support at $1. The current resistance is at $1.2, and until it is broken, it is unlikely this cryptocurrency can make sustained gains.
With volume declining steadily month-over-month, XRP currently lacks the momentum for a major breakout. Market participants seem to have retreated since the drop in February and have not returned to date.
Looking ahead, the current consolidation above $1 is a positive development. However, it can equally be a pause taken by sellers before they attempt another go at the key support.
Source: TradingView Cardano (ADA) ADA had a positive week, closing 6% higher. This comes after the price made a head and shoulders reversal pattern with the key support around $0.15. As long as that level holds, buyers have the advantage.
Nevertheless, Cardano still has to make clear higher lows and higher highs before we can be confident in a reversal and end to the current macro downtrend. For that to happen, the price will have to move beyond $0.25.
Looking ahead, the weekly momentum indicators such as the MACD are giving a bullish bias. This is a promising sign that sellers could be exhausted here, which may allow buyers to take back control for a longer period.
Source: TradingView Binance Coin (BNB) Binance Coin looks weak throughout the past seven days and made no gains. The price still needs to break the resistance at $580, which has kept buyers in check over the past month. Without a clear breakout, BNB is forced to move sideways or even seek lower levels to find buyers.
The price also saw decreased volatility and volume. This could also be related to the recent regulatory changes that forced EU users to find a new exchange. That is bearish for the BNB price as it lowers demand for the token.
Looking ahead, this cryptocurrency is found in a downtrend with no signs that this will end any time soon. As such, watch the support at $500, which could be tested in the future before buyers return.
Source: TradingView Hype (HYPE) Surprisingly, HYPE was flat this week and lost 5% of its valuation in the past month. This highlights that the uptrend may be over. The price is also under $60 at the time of this post, which is concerning since it may encourage sellers to push even lower.
If this cryptocurrency loses its macro uptrend, then a larger and more significant correction could follow. Right now, the longer the price sits under $60, the higher the chance that HYPE will fall much lower. Key support levels are found at $56 and $52.
Looking ahead, HYPE had a fantastic rally in the first half of 2026, and it seems the second part of the year could end up in a major correction. That may see HYPE revisit previous levels under $50. If so, this can also be a key buying opportunity.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
US Democratic Senator slams ethics provisions of Republican CLARITY Act, calling the draft "not in good faith"
According to Politico, U.S. Democratic Senator Ruben Gallego has criticized the ethics provisions of the Digital Asset Market Clarity Act (CLARITY Act) recently tabled by Senate Republicans, dismissing the draft as "not a serious effort." This Wednesday, Senate Republicans unveiled the CLARITY Act draft, which includes digital asset ethics restrictions that would ban all U.S. federal officials—including former President Donald Trump—from issuing or supporting any digital assets. Democrats argue the ethics provisions are insufficiently robust. Gallego said he will collaborate with Republican Senator Thom Tillis and others to put forward a new counter-proposal. "We are still in this fight and will submit new provisions," Gallego stated. Republicans, for their part, counter that the relevant ethics rules are already strict enough. Senator Bernie Moreno claimed the draft contains "the strongest ethics provisions in U.S. history." The CLARITY Act is designed to clarify the regulatory framework for the U.S. digital asset market, but its provisions addressing conflicts of interest between government officials and crypto assets have emerged as the main point of contention in bipartisan negotiations.
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The first purchase was made at a price 55% higher than the current market level; the largest loss holder of SK Hynix has held the losing position for 28 days.
According to Hyperinsight monitoring, the whale address starting with 0x511 is still holding onto its high SK Hynix (SKHX) long positions. The address currently holds 4,034 SKHX longs with 3x full leverage, at an average entry price of $1,622.6, with a position value of roughly $4.942 million and a liquidation price of $923.67. Its unrealized loss stands at $1.6034 million (-73.5%), making it the address with the largest unrealized loss on SKHX. This long position was opened on the early morning of June 26 (Beijing time), and has been held for 28 days. At the time, SKHX was trading around $1,900. The whale’s first entry was 325.5 contracts at an average price of $1,898.5, which is now 55.1% higher than the current price. As the price trended downward, it added to its position four more times at approximately $1,659, $1,678, $1,436, and $1,361, respectively. After its final position increase on July 15, the holding has not been adjusted since. Holding the position has been a constant financial drain: since opening the long, the whale has paid a net funding fee of about $198,200. The current hourly funding rate is around +0.00955%, with longs still paying, leading to an estimated hourly outflow of roughly $472 based on the existing position. Looking at its track record, this is a trader known for patience: all of its previous large trades were long-held US stock-linked longs—Micron for ~45 days, Marvell for ~29 days, and Cerebras for ~39 days, generating a total net profit of around $494,500. That same patience was once its profit source, but it has now dug the whale deeper into a losing position on SK Hynix... Data shows that SK Hynix (SKHX) on Hyperliquid hit a daily high of $1,302.8 before quickly falling to $1,214.3, marking a 6.8% intraday pullback.
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BitMEX accelerates the delisting of 65 trading pairs in July, as liquidity pressure intensifies ahead of the platform's closure.
Crypto trading platform BitMEX has accelerated the delisting of derivative contracts and trading pairs in July, removing a total of 65 trading products—far exceeding the 19 delistings recorded in the first six months of this year. Data from BitMEX’s website shows that at the start of July, the platform delisted 21 derivative contracts, and two weeks later, it removed 9 spot trading pairs due to insufficient trading interest. This Thursday, BitMEX announced another delisting of 35 derivative contracts, pushing July’s total delistings to 65. BitMEX stated that the adjustment is mainly attributed to "insufficient trading interest" in the relevant contracts and the exchange’s shutdown plan. Earlier, BitMEX announced it would cease all exchange services at 4:00 UTC on September 23, 2026. The platform noted the shutdown decision followed a "strategic review" of its business and the broader crypto industry, though it did not disclose specific reasons. Industry insiders believe BitMEX’s exit reflects structural pressures facing mid-sized centralized exchanges, including factors such as further concentration of market liquidity in top-tier platforms and rising regulatory compliance costs.
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Binance adds ACX, LSK, STX to its monitored token list, tagging them as highly volatile and high-risk assets.
Binance announced in an official statement that starting July 24, 2026, it will add Across Protocol (ACX), Lisk (LSK), and Stacks (STX) to its "Monitoring Tag" list. Binance noted that tokens with the monitoring tag have higher volatility and risk compared to other listed assets, and the platform will closely monitor the relevant projects and conduct regular reviews. Such tokens face the risk of failing to meet Binance's listing standards and potentially being delisted in the future. Binance added that factors including the project team's level of commitment, quality of development activities, trading volume and liquidity, network security, smart contract stability, information disclosure status, changes to token economic models, and presence of any improper conduct will all be included in subsequent assessments. Binance stated that other services related to ACX, LSK, and STX will not be affected for the time being, and the monitoring tag will be updated after the announcement is released.
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Sources familiar with the matter: The Bank of Japan is likely to maintain its policy guidance and commit to continuing interest rate hikes.
According to sources, the Bank of Japan (BOJ) is shifting its focus to whether companies will pass rising cost pressures on to households, and will continue to warn at next week’s policy meeting that inflation could stay above the 2% target for a prolonged period. Sources said the BOJ is expected to signal that the risk of short-term inflationary shocks triggered by rising oil prices has eased since April, though overall price pressures remain a concern. Additionally, the BOJ is likely to maintain its current policy guidance of continuing its interest rate hike path. Markets expect the BOJ to determine the pace of future monetary policy adjustments based on wage growth, service prices, and corporate pricing behavior.
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South Korea's KOSPI index saw its decline widen to 5.61%, with Samsung falling more than 6%.
According to Bitget's market data, South Korea's KOSPI index has extended its decline to 5.61%, Samsung fell more than 6%, and SK Hynix dropped 5.52%.
New U.S. tariff policies, coupled with the worsening situation in Iran, have pushed up international oil prices, while tech stock pullbacks have weighed on U.S. stock indexes, dragging them lower.
At 12:01 a.m. ET on Friday (12:00 p.m. Beijing time on the 24th), the U.S. will roll out a new set of import tariff arrangements, with rates ranging from 10% to 12.5%, covering approximately 60 economies. Separately, Trump said he is "seriously considering" resuming large-scale military operations against Iran and is nearing a decision. "Iran wants negotiations, but it is not ready yet; it has not suffered enough pain," he stated. The U.S. will hold Iran responsible if Houthi forces attack ships again, and has deployed B-1 bombers, escalating tensions with Iran. According to market data from BIT (bit.com), U.S. stocks closed lower on Thursday: the Dow Jones Industrial Average fell 0.97%, the S&P 500 dropped 1.2%, and the Nasdaq slid 2.15%. Micron Technology (MU.O) rose 3%, SK Hynix (SKHY.O) gained 2.5%, Google (GOOG.O) plunged 7%, Tesla (TSLA.O) slumped 14.5%, and SpaceX (SPCX.O) climbed more than 2%. According to HTX market data, Bitcoin is currently trading at $65,190, down 1.05% in the past 24 hours. International oil prices rose sharply on the 23rd. As of the close of trading that day, September-delivery light crude oil futures on the New York Mercantile Exchange rose $5.36 to settle at $92.19 per barrel, a 6.17% increase; September-delivery Brent crude oil futures in London gained $6.62, marking their first close above $100 per barrel since May, settling at $100.69 per barrel, a 7.04% rise.
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South Korea plans to bring forward the increase in minimum cash margin requirements for single-stock leveraged ETFs.
South Korea’s financial regulators are studying a plan to bring forward the implementation of the minimum margin requirement hike for single-stock leveraged ETFs—originally scheduled to take effect next month—to the end of this month. The move is seen as a response to South Korean President Lee Jae-myung’s call for the rapid rollout of supplementary measures for single-stock leveraged ETFs. The Korea Financial Investment Association (KOFIA) held a working-level meeting on the 21st with IT staff from securities firms, South Korean trading platforms, and related institutions including Korea Securities Computing Corp. (Koscom) to discuss the implementation of the single-stock leveraged ETF framework. It is understood that financial regulators are considering pushing the minimum margin hike plan, initially set for early next month, to the end of this month. However, the regulators will make the final decision on the specific implementation timeline and applicable rules.
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Intel's CFO: Intel plans to significantly increase capital expenditure in 2027.
Intel (INTC.O) Chief Financial Officer stated that Intel plans to significantly increase its capital expenditure in 2027.
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AMD officially launches rack-mounted AI system Helios, set to begin shipping soon.
The AMD Advancing AI Conference was held in San Francisco from July 22 to 23. At the event, AMD CEO Lisa Su announced that Helios has entered full production and will begin shipping soon. OpenAI’s Head of Infrastructure stated that the company plans to deploy AMD Helios at scale, and OpenAI will collaborate with AMD to develop the MI500 series AI chips and their subsequent products. Additionally, Su said AMD is partnering with chip design firm Cerebras to deliver high-speed inference capabilities via Cerebras’ cloud services. The joint product of AMD and Cerebras will hit the market later this year. The AMD-Cerebras system will launch an AI inference solution combining AMD Helios GPU server racks and Cerebras’ wafer-scale chips. CNBC analysis points out that a year ago, Su projected the 2028 AI accelerator market would reach $500 billion. The latest forecast puts the market size at the end of this decade roughly equivalent to the current entire semiconductor market. Su noted that GPUs will account for the majority of this share.
2 minutes ago
Trump: To use Iranian funds to compensate for ship and cargo losses
US President Trump stated, "Until further notice, effective immediately, all and any damages caused to vessels, cargo, or any related items shall be compensated using Iranian funds currently held and controlled by the United States. Although such compensation amounts may be substantial, this remains a fair and reasonable approach."
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The United States has imposed additional tariffs ranging from 10% to 12.5% on 60 economies, with the measures taking effect today.
The Office of the United States Trade Representative (USTR) issued a notice on local time the 23rd, announcing that under Section 301 of the Trade Act of 1974, it would impose additional tariffs of 10% to 12.5% on dozens of countries and regions under the pretext of so-called "forced labor" to replace the expiring global import tariffs. The new tariffs will take effect at 12:00 noon ET on the 24th (12:00 noon Beijing time on the same day). The USTR stated that as the 10% global tariff is set to expire, this round of tariffs will be levied on 60 economies, covering more than 99% of U.S. trade volume. Senior U.S. officials added that tariff measures for goods in transit will take effect at 12:01 a.m. ET on July 28 (12:01 noon Beijing time on the same day). Imported goods including fuel, food, and fertilizers will be exempt from the new tariffs; products subject to specific industry-specific tariffs (such as automobiles, metals, and pharmaceuticals) are also excluded from the levy. Additionally, goods covered by the United States-Mexico-Canada Agreement (USMCA) will also be granted exemptions. U.S. officials noted that the new tariffs will not be imposed in tandem with existing steel and aluminum import taxes, namely the "Section 232" tariffs implemented by the Trump administration last year on national security grounds.
Hyperliquid, a decentralized perpetual futures exchange, has seen its open interest reach a significant high of $11.5 billion, according to a report from Delphi Digital. This increase reflects a notable rise in the total value of outstanding derivatives on the platform, with much of the activity centered around the HIP-3 market framework and S&P 500 perpetuals. The surge in open interest suggests growing participation in tokenized traditional-asset markets, indicating an expanding interest in real-world asset exposure on the platform. The current level marks the highest since the October 2025 market downturn, highlighting a robust recovery.
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Key Takeaways Hyperliquid’s surge to $11.5 billion in open interest appears to suggest increased platform usage and interest in traditional-asset markets. Current activity is heavily tied to the HIP-3 framework and S&P 500 perpetuals, indicating a shift towards non-crypto exposure. The open-interest high reflects a significant recovery since the October 2025 crash, indicating a robust return of market confidence. What to Watch Market participants will be observing whether Hyperliquid can maintain or exceed this open-interest level in the coming months. Developments such as partnerships with major financial institutions or technological advancements could be consistent with increased YES outcomes on price prediction markets. Conversely, any regulatory challenges or security issues could disrupt this upward trajectory. Monitoring the market’s response to these factors will be crucial in understanding Hyperliquid’s future dynamics.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 20% — — View market → January 1 2027 6.2% — — View market → January 1 2027 2.6% — — View market → January 1 2027 50.5% — — View market → January 1 2027 9% — — View market → January 1 2027 3.6% — — View market →
