CryptoBalo.hl

Profit & Yield Maximalist
Part-Time Gem hunter.

[WSJ Markets @WSJmarkets]

Hyperliquid, a decentralized crypto platform, is open 24 hours a day, seven days a week. The exchange has emerged this year as a go-to spot for Wall Street’s weekend warriors. https://t.co/3RFisC8oso

[Flood @ThinkingUSD]

Prediction: Within 2 years Perpetual Swaps will be available to US persons

[Citrini @citrini]

Pre-IPO market on @tradexyz has SpaceX at > $2T - considering how accurate this was for $CBRS, @elonmusk is set to be the world’s first trillionaire by a comfortable margin.

[jeff.hl @chameleon_jeff]

I spent the past few days in Washington with @hyperliquidpc meeting with policymakers during the historic advancement of the Clarity Act. We discussed Hyperliquid, the benefits that it offers to American consumers, and the regulatory path to bring onchain derivatives markets into the United States.

Some conversations were technical with an impressive baseline understanding of Hyperliquid. Discussions included how onchain trading is a financial innovation that has clear global user demand. Other conversations focused more on a first principles introduction to defi and the promise of onchain markets. It was encouraging to see bipartisan support for thoughtful regulation of crypto. I look forward to continuing discussions in DC and working hard to make American access to Hyperliquid a reality.

[shaunda devens @shaundadevens]

USDC will become an aligned stable, meaning 90% of cost-adjusted reserve yield on USDC supply accrues to Hyperliquid.

At the current $5B USDC base, that could imply $137M–$160M in annualized rev at a 3%–3.5% yield, or a 22%–26% step-up vs current annualized revenue.

Hyperliquid

[Omnia.hl π @0xOmnia]

For teams, investors and anyone with even slight interest in Kinetiq / Hyperliquid it is imperative that Launch is understood:

Deployers like @Perpsdotfun, @novadotmarkets, and many others to be announced will effectively be able to source stake in a way never possible before.

For >1 year now, we’ve heard countless stories of unbelievable efforts teams go through to source stake privately to power their HIP-3 (and soon HIP-4) deployments.

Launch solves this entirely.

Investors don’t need to take the full brunt of the risk, and instead of supplying the full 500k requirement, may only be keen for e.g. 50-100k.. which is the case even for the public who can now scale their risk proportionate to their appetite.

There is no way to source stake more pure, or efficient than this. What pump fun did to memecoins, Launch does to DEX deployments which will power perps of *any and every* kind.

The market decides if you’re worth backing. Not myself, or any @Kinetiq_xyz contributor, or any single investor.

Heavily Launch coded.

Hyperliquid

[Felix @felixprotocol]

Tokenized stocks and ETFs are now live on Felix

On-chain traders no longer have to off-ramp funds to gain exposure to US capital markets. Additionally, Felix users now have the ability to trade tokenized stocks/ETFs in large order sizes without the steep execution costs that have plagued on-chain adoption up until now (Example: Buy $1M in GOOGL on Felix with a net execution cost less than 10bps today).

Trade over 250 different assets now: https://t.co/tWR45uSgF1

Not available in the U.S. and other prohibited jurisdictions.

[Hyperliquid Research Collective (HRC) @HyperliquidR]

Hyperliquid Annual Report 2025

Today, we're excited to release Hyperliquid's 2025 Annual Report.

What Hyperliquid, the core team, and hundreds of contributors have built this year is largely unprecedented in financial history. This report is our attempt to capture that extraordinary year with the rigor it deserves.

A few months ago, we created HRC because we felt a clear need to reduce information asymmetry and lower entry barriers for new participants through independent research. We hope this report helps do exactly that.

For us, it is a privilege to be part of this ecosystem and to have produced this work. Months of research, data work, debate, and collaboration across Four Pillars, GLC, and all our contributors went into every page. It means a lot to share it today, so please, let us know what you think and how we can improve the reporting going forward.

Enjoy the read. Some excerpts below, with the link to the full PDF.

Hyperliquid.

[trade.xyz @tradexyz]

S&P Dow Jones Indices and trade[XYZ] have joined forces to launch the first official S&P 500 perpetual contract, available exclusively on Hyperliquid.

For 69 years, the S&P 500 has been a defining reference point for global finance. Until now, access to that benchmark has been shaped by market hours, intermediaries, and geography. Today, that changes.

The S&P 500 perp is now available 24/7/365, anchored by the official index data required for deep liquidity and institutional confidence at scale. 

SPDJI helped define modern indexing. They are stewards of an iconic benchmark, the standard against which portfolios across the globe are measured. We are honored to bring that legacy on-chain.

Trade[XYZ] is bringing the world's most iconic assets towards a future of global, continuous markets — a future powered by Hyperliquid.

[MONK @defi_monk]

https://t.co/apshnc9oOr

[Avi @AviFelman]

Hyperliquid will soon become indispensable for fund managers because of 24/7 trading.

If you aren’t able to trade when others are, you’re at a massive disadvantage.

Seeing this play out right now

[CryptoBalo.hl @CryptoBalo]

@reisnertobias Rysk & Felix

[trade.xyz @tradexyz]

@tradexyz reached new all-time highs with $3B in 24h volume and $1B in open interest.

[Felix @felixprotocol]

https://t.co/dyKdga5cke

[Felix @felixprotocol]

Felix x Ondo

Felix will soon deliver spot equities to users in collaboration with @OndoFinance.

Through Felix’s integration with Ondo Global Markets, Felix users will be able to:
>Access 100+ US equity markets directly through https://t.co/SBPsXIjpGr at launch (expanding to 1,000+ equities over the coming months)
>Trade spot equities onchain with tradfi-level liquidity 24/5
>Borrow against spot equities on Felix (coming soon)

Felix spot equities will not be hindered by AMM liquidity like previous onchain equity products due to our implementation with Ondo. Buyers/sellers will be able to get tradfi-level execution on multi-million dollar equity orders Day 1.

Ondo Global Markets holdings are publicly and regularly audited to demonstrate overcollateralization. Ondo provides daily public attestations, a bankruptcy-remote legal structure, an insurance fund, and multiple smart contract audits. This approach to security and transparency is in large part why Felix is working with Ondo.

More details on rollout will be shared soon.

[jeff.hl @chameleon_jeff]

Integrity has always been one of Hyperliquid's core values.

The house of all finance must be credibly neutral. This means no private investors, no market maker deals, and no protocol fees to any company.

The initial state of any blockchain is a crucial part of its story that can never be erased. The original ethos of Bitcoin was a permissionless network accessible to all. Hyperliquid's genesis distribution followed this spirit, going entirely to early users with core contributors excluded. The full distribution is verifiable onchain without obfuscation.

This principle of fairness frustrates a few users and builders who are used to special treatment. It means that Labs has zero tolerance for team members with integrity yellow flags. It means we do things the hard way as a community. But the world deserves a financial system owned by the people, where fairness to all users is in the DNA. Nothing else is worth building.

[jeff.hl @chameleon_jeff]

Hyperliquid supports permissionless perps on anything. As all of finance moves onchain, there is a billion dollar opportunity to build a mobile app for non-crypto users.

The two keys are:
1. seamless fiat onboarding
2. a mobile UX that non-crypto users love

Hyperliquid and HIP-3 perps offer the full backend liquidity infrastructure. Solve 1 and 2, and you have a product that markets itself: global, permissionless finance at your fingertips. Builder codes allow monetization proportional to volume flowing through the app, fully configurable per-trade.

Hyperliquid’s ethos is to let talented, hungry teams reinvent the pillars of finance. For those who specialize in UX and building magical user experiences, nothing stands between you and the empires to be built.

[Kinetiq @Kinetiq_xyz]

Since the start, Kinetiq was solely designed to elevate the Hyperliquid ecosystem by ensuring that the native network token, HYPE, becomes the perfect money lego, and we'll stop at nothing to achieve that. Kinetiq's success is synonymous with Hyperliquid's and aims only to be a critical part of the ecosystem where every user and builder can freely use and build atop of the most liquid and utilized staking protocol, and beyond.

The kPoints program ran for 13 weeks, distributing 800,000 kPoints per week from July 15th, to October 14th. Throughout this period, several addresses were identified in collaboration with industry-leading research partners that are believed to belong to sybils, and/or malicious entities engaging in harmful behavior to the protocol.

This has resulted in redistributing flagged kPoints, equating to a larger share to real users of the Kinetiq protocol.

Further, an additional 1,600,000 kPoints have been distributed for activity from October 14th to November 12th –– bringing the final sum of kPoints to 12,000,000.

Any new addresses that have qualified for kPoints throughout this period may now sign the @KinetiqFND Terms of Use before November 21st, 2025 at 20:00 UTC, in order to participate in the KNTQ genesis event.

[CryptoBalo.hl @CryptoBalo]

@ericonomic Really bad idea. These projects can buyback their own tokens if they wish to

[CryptoBalo.hl @CryptoBalo]

@Pickle_cRypto Issue is we have not seen non-incentivized volume yet. But yes if it remains relatively constant, bullish