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FalconX: HYPE coin price hits new all-time high, promising prospects, competing with traditional trading platforms and prediction markets
BlockBeats News, May 25 — According to the latest report released by FalconX, cryptocurrency trading platform Hyperliquid is beginning to compete with traditional trading platforms and prediction market operators, expanding its business beyond perpetual futures trading. The report notes that Hyperliquid has recently entered the pre-IPO market, prediction contracts, and tokenized real-world assets (RWA), broadening its appeal beyond native crypto traders. Its native token HYPE hit a new all-time high despite the overall weakness in the crypto market.
The report specifically mentions that Hyperliquid's HIP-3 market (allowing users to trade stocks, commodities, forex, and pre-IPO contracts around the clock) activity is growing, with traders leveraging its speculative pre-IPO stock prices of companies like Cerebras, Anthropic, and SpaceX. Additionally, the platform has started launching HIP-4 outcome markets, which function similarly to prediction markets, allowing traders to bet on binary outcomes of political, economic, and crypto events. FalconX believes that the ability to trade prediction contracts, cryptocurrencies, and RWA assets on the same platform could become a major advantage.
At the same time, spot ETFs linked to Hyperliquid's HYPE token have garnered strong early interest. The spot HYPE ETFs from 21Shares and Bitwise attracted a total of $53 million in inflows within just a few trading sessions. FalconX states that these inflows represent a higher proportion of HYPE's market cap than the early inflows of spot Bitcoin, Ethereum, and Solana ETFs at similar stages.
Furthermore, Hyperliquid has recently partnered with Coinbase and Circle to integrate USDC as a quoted asset, which could significantly increase protocol revenue. FalconX estimates that, based on USDC reserves on the platform, this arrangement could generate up to $160 million annually in revenue.
The report also highlights risks, noting that traditional financial trading platforms (CME and ICE) have raised concerns with regulators about potential market manipulation risks in Hyperliquid's markets, which could lead to increased regulatory scrutiny. Nonetheless, FalconX states that Hyperliquid continues to lead in trading volume, revenue, and total value locked (TVL) in decentralized perpetual futures markets, making it one of the fastest-growing trading platforms in crypto.