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.

RWA has exceeded more than half of Hyperliquid's total, will TradeXYZ depart?

Earlier and Broader Price Discovery is Valuable, but Comes at a Cost

Launch a HIP-3 Exchange Platform，how much does it cost?

The sk Hynix Perpetual Market on TradeXYZ demonstrated the ability to provide accurate price discovery before the stock market opening.

Offending CME is scarier than offending Binance

Envy Complaints Are Real

The HYPE token has seen an impressive 150% price increase this year, far outperforming Bitcoin during the same period.

USDC not only needs to be compliant, but also to capture transaction share

Stablecoin being the marginal buyer of US Treasuries is a more compelling narrative than people give it credit for.