stHYPE Acquired by Valantis Protocol on August 19, 2025

Encryption Market Overview According to CoinGecko data, from September 2 to September 15, 2025, the encryption market continued its diversified development pattern. In terms of market performance, BTC fluctuated upward along the upward trend line, testing the resistance level of $117,400 multiple times; ETH once surged to $4,950, but after encountering resistance at a high level, it entered a consolidation phase. [1] In terms of performance for altcoins, small to mid-cap assets have become the main line of capital rotation in this round, with MYX and CONSCIOUS recording increases of over 900%, showing the most outstanding performance and clear volume characteristics; PUMP rose over 120% during the same period, strongly advancing under the combined push of community enthusiasm and trading momentum, significantly driving the short-term speculative sentiment in the market. Overall, narrative clarity and outstanding flexibility in thematic tokens have received concentrated capital support, becoming a feature of the volatile market.

HIP-3 is a huge enhancement to the openness and composability of Hyperliquid, while also directly driving the demand for HYPE LST. Recently, we have seen frequent activities in the HYPE LST protocol, and currently the HYPE loan-to-value of mainstream HYPE LST protocols has reached 4%: - Kinetiq: 31.05m KHYPE, accounting for over 75% of the market share, it is heard that the valuation is N times higher than the previous round of financing is also ongoing. - StakedHYPE: 4.3m stHYPE, acquired by Valantis - Hyperbeat: 2.71m beHYPE + 0.96m Ultra HYPE, $5.2 million financing, with investment from Coinbase Ventures. It is worth mentioning that the HIP-3 market Ventuals, which builds a pre-IPO perpetual market, has established a Vault on Hyperbeat, and the quota has been fully subscribed. - Other includes Looped HYPE, Hyperpie Staked mHYPE, haHYPE

A total of 7 HYPE LST protocols have staked over 38 million HYPE, accounting for 3.81% of the total HYPE supply, and the sector is still in its early stages. Kinetiq is staking over 28 million HYPE, capturing over 70% of the market share in HYPE LST, and is the first protocol on HyperEVM to break a TVL of 1 billion dollars. The combination of Kinetiq with Pendle and the lending protocol HyperLend and Morpho on HyperEVM is key. Pendle, HyperLend, and Morpho are now the first, second, and fourth largest holding entities of kHYPE, respectively. For example, the PT-kHYPE after yield splitting can be used as collateral for HyperLend, and the yield boost nesting path is very clear. The future potential of HYPE LST depends on the demand from external developers to build partitioned markets on Hyperliquid after HIP-3. After the launch of Unit, the path for listing has been opened, with established distribution channels such as the mainstream wallet Phantom and the leading trading terminal Axiom. The listing + distribution path is clear, allowing developers to focus more on market construction itself. HIP-3 requires external developers to stake 1 million HYPE, which can be seen as the basic threshold for LST. Currently, besides Kinetiq, the staking amount of stHYPE, Liquid HYPE, and Looped HYPE has exceeded 1 million HYPE. (If there are any omissions regarding launched HYPE LST, please feel free to inform me to supplement.)

The original text is from SMooTH Compiled by Odaily Planet Daily Golem (@web3\_golem)  To be honest, no one enters the crypto industry just to silently stare at the balance in their wallet. We all hope for the wallet balance to grow, and one of the lower-risk ways to do that is through DeFi. However, DeFi on HyperLiquid is completely different. Do you want to increase the value of your funds? Do you want to engage in circular lending? Do you want to stake? Do you want to borrow against your principal as collateral, and then stake while earning points?

The author shares detailed configurations for earning over a million dollars in the HyperEVM ecosystem. The main strategies include achieving cross-chain operations through HyperUnit, staking $HYPE, providing liquidity, and hedging, covering multiple protocols to accumulate points, with an annual percentage rate exceeding 19%. Additionally, the purchase of .hl domain names, NFTs, and stablecoin operations are discussed, with a focus on @hyperunit and @prjx_hl, believing that early participation is likely to yield high airdrop returns. The overall configuration forms Delta neutral, earning passive income while accumulating points.