Dragonfly's Haseeb Qureshi said the shift reflects crypto's broader maturation toward tokenized stocks, bonds, and other real-world assets.
The surge in real-world asset trading on Hyperliquid could drive innovation in blockchain specialization and influence market dynamics significantly. Hyperliquid sees real-world assets surge of trading volume.
Hyperliquid's rise highlights the growing specialization of blockchain ecosystems, impacting stablecoin distribution and market dynamics. Hyperliquid surpasses Solana in total circulating USDC, becomes second only to Ethereum.
Payward wants to use Hyperliquid's blockchain for US perpetual futures, but trading would remain limited to verified and approved accounts.
Payward plans to bring regulated perpetual futures on Hyperliquid to eligible U.S. clients, pending regulatory approval. The structure keeps trading on Hyperliquid's public blockchain but adds identity checks and permissioned access. The first contracts, leverage, fees and launch date have not yet been disclosed.
DOJ says confidential token-listing plans fueled perpetual-futures trades ahead of Robinhood announcements.
Payward, which operates as the holding company for Kraken crypto exchange, revealed plans Wednesday to provide American customers with access to onchain perpetual futures trading on the Hyperliquid blockchain. Market response was immediate, with HYPE token valuations climbing over 4% in the hours following the disclosure.
Payward, the parent company of crypto exchange Kraken, plans to give U.S. clients access to onchain perpetual futures through Hyperliquid, pending regulatory approval. The company said Wednesday that it intends to begin with Hyperliquid HIP-3 markets, which enable third parties to create and manage permissioned perpetual futures markets.
The shifting revenue dynamics highlight the volatile nature of DeFi markets and underscore the competitive landscape among blockchain platforms. Robinhood Chain surpasses Hyperliquid in 24-hour app revenue, per DeFiLlama.
Leveraging its $550 million acquisition of Bitnomial, Payward aims to become the first registered U.S. exchange to deploy markets on the Hyperliquid protocol.
Hyperliquid's HYPE token fell about 7.5% over the past week, retreating from $83.55 to around $78.70 as legal concerns and weaker technical momentum weighed on its recent rally. HYPE price retreats from record high Hyperliquid (HYPE) price traded near $78.
Payward plans to offer Hyperliquid HIP-3 perpetual futures to eligible U.S. clients through Bitnomial, subject to regulatory approval.