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$HYPE bears be like:

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😹

Hyperliquid

[xulian.hl @xulian_hl]

Happy World Cup inauguration day for those who celebrate

[trade.xyz @tradexyz]

A note on the SPCX pre-IPO (IPOP) contract:
TradeXYZ IPOP contracts are price-based perpetual contracts that track the market-implied expected price of one share of Class A or common stock. Neither share count nor market cap are an input to the market specification, oracle methodology, or conversion treatment.

Our documentation had previously featured educational examples showing how a user might derive their own fair price in a scenario where they started with a view on both market cap and share count. Although these examples were included for context, we received feedback that they caused confusion, so we have removed them from the documentation.

TradeXYZ does not use, publish, or rely on a share-count or market-cap denominator for SPCX or any other XYZ market. When SpaceX completes their IPO and sufficient external market data becomes available, SPCX is expected to transition to standard external oracle pricing, and the contract is expected to converge toward the public trading price.

[Jake Chervinsky @jchervinsky]

Over 60 founders and CEOs including @chameleon_jeff signed a letter today urging the Senate to pass the Clarity Act with strong developer protections.

Most important: the Banking Committee's bipartisan Blockchain Regulatory Certainty Act.

There is no clarity without the BRCA.

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Why buy VC tokens?

Hyperliquid

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✅

Next cycle will be all about...

Hyperliquid

[Aylo @alpha_pls]

This is the era of crypto where you finally see large cap vapour trend to actual zero.

$7B FDV for Cardano is utterly ridiculous.

We still have a large number of bloated failed crypto infra projects trading at irrational valuations.

Part of making crypto investable again is returning vapour to where it belongs, and allowing cashflow positive apps to rise up the rankings.

This is a good thing. We should not have to feel embarrassed looking at the top 20.

Long revenue producing crypto assets with value accrual/short vapour historical infra remains a good long term trade.

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Arthur Hayes is going to announce that he sold $HYPE again within 2-3 weeks.

[DEGEN NEWS @DegenerateNews]

NEW: @HyperliquidX HYPEREVM $USDC SUPPLY SURPASSES $5 BILLION

SOURCE: https://t.co/7MkZxo6lD3

[Cointelegraph @Cointelegraph]

🔥 NEW: Citrini Research calls $HYPE a compelling investment, noting Hyperliquid has accounted for nearly half of all crypto token buybacks in 2025.

[DEGEN NEWS @DegenerateNews]

NEW: @coinbase ANNOUNCES IT IS NOW THE OFFICIAL DEPLOYER OF @HyperliquidX’S USDC TREASURY WALLET

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$HYPE beta has yet to launch a token

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Straight To Rape City

[Ventuals @ventuals]

USDH, which serves as the collateral asset for Ventuals perp markets, will be discontinued.

Nothing changes about existing open positions today, and users do not need to take any action.

Markets and will be transitioned to use USDC as the collateral asset in the future.

Users do not need to take any action today. Please stay tuned for more updates.

[AG @GeoOnchain]

Looking for artists in the crypto space who are looking for work!

Need multiple artist. If anyone has any suggestions or anything please tag them below. Should be a fun project involving physical pieces as well as Digital/NFT pieces.

Send me over some of your work & rates!

[steven.hl @_stevenhl]

First, Hyperliquid disrupted TradFi with 24/7 trading of SILVER and OIL by enabling price discovery on the weekends.

Now they are recognizing Pre-IPO perps as a means of access that was historically reserved for a select group of investors.

The future of finance is coming.

[Ventuals @ventuals]

SpaceX filed to IPO last month at a $2.0T target.

From $2.4B in 2012 to $1.25T today. ~27x growth since 2020.

The world's most valuable private company is finally going public this year.

[Ventuals @ventuals]

Trader 0xaea8 has grown their short Anthropic position to $1.5M notional, adding at a valuation of $1.0T+ after the company’s reported $900.0B funding round.

They’re currently down nearly $500.0k on their perp position, while collecting over $75.0k in funding.

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@ventuals outcome markets for their pre-ipo products is gonna be great

[DeFi Warhol @Defi_Warhol]

Everyone's reducing HIP-4 to "Hyperliquid is launching prediction markets."

That framing is technically correct and strategically useless.

Polymarket is a website you visit, place a bet on, and leave. HIP-4 is something different underneath. It's a primitive, the same kind of building block as spot or perps.

Once it exists on HL, anyone can plug it into anything:
→ A trader betting "will BTC hit 100k by Friday"
→ A vault hedging token unlock risk
→ A structured product paying yield on a revenue milestone
→ A market-making bot quoting it next to perps

One instrument, many surfaces, all routing back to the same engine.
And it's not landing on some empty venue. HL already does $180B+ in monthly perp volume and $643M in annualized revenue.

The traders, the market makers, the collateral, the APIs, all already there. HIP-4 is just a new instrument dropping into a place that's already running.

The real question isn't whether HL can take volume from Polymarket. It's whether outcome contracts can become as deep and as liquid on HL as perps already are.

Fair warning, it's long. Like, long long. Pour a coffee, cancel your evening plans, tell your gf you're busy. Worth every minute