Data provider RedStone has released a new report on Hyperliquid, the decentralized perpetuals exchange that has quickly become the category leader. 
In just a year, Hyperliquid has grown to capture … [+1667 chars]

A new RedStone report says Hyperliquid’s on-chain order book, HIP-3 market creation, and dual-chain design have propelled it to over 80% market share.

CoinDesk

Hyperliquid Now Dominates DeFi Derivatives, Processing $30B a Day

Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. Were Margaux Nijkerk &amp; Jamie Crawley, reporters at CoinDesk.
In this issue:
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Plus: Bitlayer Enters Solana with YBTC, Valantis Acquires stHYPE, and Hyperbeat Secures $5.2M In Seed Round

Nasdaq-Listed SoFi Taps Bitcoin Lightning for Remittances

Valantis, a decentralized exchange (DEX) protocol, has acquired Staked Hype (stHYPE), the second-largest liquid staking token (LST) on Hyperliquid. Financial terms of the deal were not disclosed.
st… [+1259 chars]

The DEX takes over Hyperliquid’s second-largest liquid staking token, part of an ecosystem where staking makes up more than half of $2.26 billion in TVL.

Valantis Acquires stHYPE, Expanding Liquid Staking Reach on Hyperliquid

Crypto traders should remain vigilant for an ether (ETH) price drop below $4,200, which could trigger millions in long liquidations and increase market volatility.
As of writing, over 56,638 ETH in … [+1503 chars]

Crypto traders should be cautious of ether prices dropping below $4,200, which could lead to significant long liquidations and increased market volatility.

Ether Market May Become More Exciting Below $4.2K. Here is Why.

Hyperbeat, a protocol powering yield infrastructure on the Hyperliquid decentralized exchange, has closed a $5.2 million oversubscribed seed round co-led by ether.fi Ventures and Electric Capital.
T… [+1804 chars]

The raise will be used to build out their yield infrastructure for traders, protocols, and institutions that are tapped into the Hyperliquid ecosystem.

Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital

Pendles total value locked (TVL) has surged to a record $8.27 billion, while its native token PENDLE climbed 45% over the past week to $5.6 on the back of the protocols new yield-trading platform.
W… [+1515 chars]

The protocol's new yield-trading platform, Boros, allows traders to go long or short on funding rates, and has attracted significant deposits and activity since its launch.

Pendle's TVL Hits Record $8.3B After Yield-Trading Platform Debut

Coinbase (COIN) is rolling out decentralized exchange (DEX) trading inside its main app for customers across the U.S., with the exception of New York State, the company said Friday. The move is part … [+2313 chars]

The crypto exchange adds on-chain DEX trading to its app, routing orders through aggregators like 0x and 1inch.

Coinbase Adds DEX Trading to U.S. Platform in Push Toward Becoming an ‘Everything App’

By Omkar Godbole (All times ET unless indicated otherwise)
In the world of rock climbing, athletes don't simply grab a new ledge and reach out for the next one. First, they put their full weight on … [+13898 chars]