Hyperliquid's decentralized exchange saw over $1.3 billion in trading volume on SpaceX-linked synthetic perpetual contracts around the company's Nasdaq IPO, making SpaceX the platform's second-most traded asset. This surge highlights the growing impact of Hyperliquid's HIP-3 framework, which allows developers to create synthetic markets on various assets. The SpaceX pre-IPO contracts attracted massive interest, with valuations fluctuating between $1.7 trillion and $2.5 trillion before the IPO priced at $135 per share. The trading frenzy also boosted Hyperliquid's native HYPE token, which gained over 7% intraday and has doubled in value year-to-date. Investors should note these synthetic contracts track prices without granting ownership and that market concentration on Trade.xyz poses systemic risks.
Virtuals Protocol has introduced customizable tokenized indexes on the Robinhood Chain, allowing users to combine multiple assets into a single token. This innovation enables users to create and manage their own asset baskets and earn fees when other...
US spot Bitcoin ETFs saw net inflows of $107.8 million on Wednesday, while Ethereum ETFs attracted $53.8 million, signaling renewed institutional interest in crypto funds. Since their launch in January 2024, Bitcoin ETFs have accumulated over $51 bil...
Kaia has signed a strategic partnership with Xilo Labs to integrate Mochi, an onchain asset management platform, into Kaia's ecosystem. This collaboration allows users to invest stablecoins into diversified portfolios backed by tokenized real-world a...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
Bitcoin miners are experiencing declining revenue as the network's hash rate and mining difficulty fall, reflecting a shift of miners into AI infrastructure. Despite this stress, miners are accumulating Bitcoin, with reserves increasing by 1%, signal...
