Why Hyperliquid is Winning
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Sponsor: Mantle — mETH Protocol kickstarts Season 2 of Methamorphosis.
- 🇺🇸 States and DeFi Group Challenge SEC’s Crypto Oversight. A new lawsuit is taking Gary Gensler's SEC to task on crypto.
- 📈 JPMorgan Expecting Numerous Big Crypto Regulatory Wins. With Trump back in office and the GOP in full control, JPMorgan analysts expect rapid action.
- 👨⚖️ Trump Nominates Former SEC Chair as SDNY Attorney. Trump nominates Jay Clayton to lead the highly influential office.
📸 Daily Market Snapshot: While memecoins have undoubtedly been the big winners this week, XRP is catching a bid in a major way as the resilient token has pumped nearly 60% this week and is reaching heights it has not seen since late 2021. It's undeniable that XRP is poised to benefit in a major way from Gensler's presumed departure, a move that would likely remove obstacles from the approval of XRP spot ETF applications.
| Prices as of 2pm ET | 24hr | 7d |
|
Crypto $2.95T | ↘ 0.2% | ↗ 17.1% |
|
BTC $89,491 | ↘ 0.1% | ↗ 16.2% |
|
ETH $3,028 | ↘ 3.5% | ↗ 2.0% |
|
LINK $13.38 | ↗ 0.9% | ↘ 1.1% |
In just two years, Hyperliquid has quickly positioned itself as a leading force in the crypto derivatives market, emerging as one of the most actively traded perpetual DEXs.
Setting itself apart in the blockchain landscape, Hyperliquid has taken a product-first approach, fostering organic growth without heavy reliance on incentives and maintaining financial independence as a strictly self-funded team. It’s processed $21B in volume this week alone and has 3x’d its total share of perpetuals volume this year, climbing from ~11% in December 2023 to 33% this week.
All the while, Hyperliquid has been running a points program that will soon culminate in the highly anticipated HYPE token TGE, laying the foundation for its future decentralization, the addition of EVM compatibility, and community governance.
Let’s take some time to explore what makes Hyperliquid unique, methods for gaining exposure to the upcoming TGE, and its planned expansion once HYPE is live 👇
Season 2: Methamorphosis is now live on mETH Protocol, following the launch of their governance token, COOK, and cmETH, the liquid restaked version of mETH. With cmETH, holders can enjoy yields across multiple restaking protocols like Karak, EigenLayer, Symbiotic, while earning Powder for more COOK.
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