Hyperliquid
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Bitcoin is cratering, but a new Wall Street crypto hype is on the rise
In one very small, and at least to date obscure, corner of the crypto market, investors are rushing in rather than heading for the exits. So-called HYPE exchange-traded funds are taking in new assets from investors at a time when the leading crypto bets, including bitcoin and ether, are tanking. In May, Bitwise and 21shares launched spot ETFs tracking indexes for HYPE, a decentralized crypto asset that operates on its own blockchain, hyperliquid.
SpaceX primed for double-digit pop on first day, if ‘perps’ trading is any guide
Crypto traders in the SpaceX pre-IPO perpetual futures are expecting a big first day for Elon Musk's much-hyped space company. The perpetual future contract is currently trading around $162 on the Hyperliquid trading platform, a market dominated by highly active, leverage-seeking crypto traders. That's about 20% above its fixed IPO price of $135 per share, but down sharply from the peak levels exceeding $220, reached shortly after its May launch.