Kraken plans U.S.-regulated perpetual futures on Kraken Pro within weeks
Kalshi says its newly launched U.S. perps crossed $1B in volume, offering an early demand signal.
Kalshi says its newly launched U.S. perps crossed $1B in volume, offering an early demand signal.
SPCX pre-IPO perps drew $2.1B on Binance in 18 days and $115M+ OI on Hyperliquid ahead of expected Thursday pricing.
The exchange is pitching the products as regulated derivatives as MiCA’s July 1, 2026 authorization deadline approaches.
The note spotlights $1.06B annualized fees, $220B 30-day perp volume, and $2B+ in cumulative HYPE repurchases since Jan. 2025.
Worldcoin whipsawed from above $0.60 to around $0.40 as Hayes cited a falling SpaceX pre-IPO perp chart.
Negative perp funding and $1.28B in long liquidations met a fresh Zcash infinite-mint bug headline and a DeFi TVL slide.
Liquidation estimates show $2.6B of shorts at risk into $66K versus $1.2B on a drop to $57K, while ETFs logged a $3M inflow.
Hayes cited macro risk and “AI IPO” mania, while 10x Research flagged rich valuation and a June token unlock overhang.
The USDC-settled perpetual futures contract offers eligible international users 24/7 exposure to SpaceX's estimated pre-listing valuation.
The exchange is pairing the bank rails with access to spot markets, perpetual futures, and Advanced Trade on one platform.
Eligible US institutions can onboard immediately via a CFTC-regulated FCM pathway, with broader access expected later.
The $72K–$74K support zone and a $77K reclaim level are in focus as liquidations top $200M.
The Base, Balanced, and Opportunistic funds are designed to be accessed from the same self-custodial trading balance.
He says Hyperliquid and beaten-down AI tokens like NEAR and TAO signal a renewed altcoin risk-on phase.
The contracts will settle against ICE’s Brent and WTI benchmark prices and mark the first product from the firms’ March partnership.
The USDT-margined perp is designed to track pre-IPO valuation signals, then shift to live share performance after listing.
The note argues HYPE is being valued as “just perps” despite Hyperliquid’s multi-asset ambitions and non-crypto-linked volume.
Annualized funding swung from +8% to -3% in days while weekly DEX volume and DApp revenue fell well below January levels.