Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
$HYPE jumped 18.9% today.
But the interesting part is not the price move itself.
It is the type of infrastructure now forming around Hyperliquid.
Over the past week:
> Coinbase became Hyperliquid’s official $USDC treasury operator
> the first $HYPE ETF (THYP) launched
> HIP-4 launched
> Hyperliquid continued processing >$41B weekly perp volume
> open interest remained near ~$9B
The consensus still views Hyperliquid as a high-growth perp venue.
The market increasingly treats it like financial infrastructure.
That distinction matters because exchange multiples usually compress over time.
Infrastructure layers behave differently.
Especially when they control:
> liquidity
> collateral
> settlement
> execution
> retained trading capital
Hyperliquid is no longer just monetizing trades.
It is starting to monetize the environment traders stay inside.
That is a much larger category than most exchange tokens historically captured.