Finance, dear reader, is a realm often as tangled as a lady’s hair after a storm-yet here we find ourselves marveling at a new development that promises to loosen the constraints of protocol, much like a well-placed pin in a cravat. 😊
What to know:
- HIP-3, the latest triumph of innovation, now permits the creation of perpetual DEXs on HyperCore without seeking permission-think of it as the financial equivalent of having a ball and dancing freely, no invitations needed.
- This glorious news arrives mere days after Hyperliquid weathered a rather dramatic market storm, dishing out a staggering $10 billion in liquidations during the recent leverage frenzy-truly a spectacle for the ages, or perhaps a sobering reminder of market caprice.
- Meanwhile, HYPE, the darling of the hour, has appreciated a sprightly 13.4% in the last 24 hours, sitting happily at around $42, with a market cap soaring to $14.1 billion, because who doesn’t enjoy a good market cap story?
Mark your calendars, for this coming Monday Hyperliquid shall enact its HIP-3 upgrade, an event that will-if the reports are to be believed-allow any sufficiently onchain-enthusiast to launch perpetual futures markets. How delightfully democratic! 🤓
An informed gentleman or lady on Hyperliquid’s Discord assures us that, while there might be “no immediate change for users,” deployers of markets will be free to set about their tasks “once ready.” Such patience is surely a virtue-at least in crypto, where delays often serve as a catalyst for excitement.
This proposal-Hyperliquid Improvement Proposal 3-offers permissionless deployment of perpetual DEXs on HyperCore, requiring the staking of 500,000 HYPE. With HyperEVM woven into the fabric, safeguards such as validator slashing and open interest limits are in place-because who doesn’t love a little security with their libertarian aspirations?
Indeed, the exuberance around HYPE continues, having surged 13.4% in a day, now a robust $42, encapsulating a market cap of roughly $14.1 billion, as chronicled by CoinMarketCap. A charming rise, surely, but as we all know-markets can be as fickle as a debutante’s affections during the Season.
And just this weekend, HyperLiquid found itself in the spotlight amid the crypto market’s leverage chaos, which saw a colossal $19.3 billion wiped out-$10 billion chased away on HyperLiquid alone, as CoinGlass reports. It’s enough to make one wonder if the market’s rollercoaster is more aimed at causing vertigo than profits.
Meanwhile, Binance, the grand centralized exchange, did not fare well amidst this tempest, distributing hundreds of millions in reimbursements-some might say a rather unceremonious end to a volatile week.
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2025-10-13 14:01