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Hyperliquid platform's stock contract trading volume once again surpasses Bitcoin.

BlockBeats news, November 10: Glassnode data shows that trading volume of stock-like contracts on Hyperliquid has once again surpassed Bitcoin. Although US stocks and Bitcoin prices have continued to decline over the past few weeks, crypto-native traders appear more inclined to buy the dip in stocks.


Glassnode points out that the last peak in the ratio of stock to Bitcoin trading volume was in August this year, when BTC was near a local low and subsequently broke out and rallied.

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Hyperliquid's open interest and trading volume have continued to hit new highs. However, due to the HIP-3 fee-sharing mechanism, the rise of third-party markets, and a lackluster ecosystem, the platform's retained earnings have been declining steadily. The HYPE buyback pressure, valuation support, and regulatory scrutiny are all under pressure simultaneously.
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