# Сопутствующие статьи по теме Perpetuals

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Perpetuals", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

New revenue hierarchy? How Hyperliquid is outpacing legacy chains

The blockchain value capture model is shifting from passive transfers to active trading, with perpetual trading volume ($8.4B) far exceeding spot DEX activity ($3.7B). Hyperliquid exemplifies this trend, capturing 36.4% of DeFi fees by March 2026, while Ethereum and Solana see declining shares. Its derivatives platform generated $154.95B in total volume from 212,843 traders, driving $12.43M in fees. A key mechanism redirects fees—$403,475 in 24 hours—to buybacks, removing 10,794 HYPE tokens from circulation. This creates a feedback loop where trading activity fuels fees, buy pressure, and token value appreciation, highlighting how specialized trading platforms now dominate value capture over general-purpose chains.

ambcrypto04/06 03:03

New revenue hierarchy? How Hyperliquid is outpacing legacy chains

ambcrypto04/06 03:03

Telegram taps Lighter for 50x perps trading across crypto, stocks, and commodities: Details

Telegram has integrated Lighter, a decentralized exchange (DEX) specializing in perpetual trading, to power its native leveraged trading feature. Through the Wallet in Telegram, users can now trade cryptocurrencies, stocks, metals, and oil with up to 50x leverage. This integration, Telegram's largest with Lighter to date, could significantly boost trading volumes for the DEX by tapping into Telegram’s vast user base of over 150 million registered and 25 million active wallet users. The partnership arrives as Lighter faces a substantial decline in activity and revenue—weekly trading volumes dropped 89% from its November peak to $8B in April, while revenue fell 91% to $325K weekly. This downturn followed the end of LIT token farming after its December debut. The Telegram deal has already spurred a 30% price recovery for LIT in early April. If the integration drives renewed user activity, it may reverse Lighter’s declining metrics and support further token buybacks; otherwise, LIT could face renewed downward pressure.

ambcrypto04/04 03:33

Telegram taps Lighter for 50x perps trading across crypto, stocks, and commodities: Details

ambcrypto04/04 03:33

TxFlow L1 Mainnet Launches, Enabling Multi-application On-chain Finance

TxFlow has launched its Layer 1 blockchain, TxFlow L1, initiating a multi-application on-chain finance ecosystem based on TIP Liquidity Standards. The network achieves over 250,000 TPS through DAG-based parallel execution and a multi-threaded pipeline. The first application, TxFlow DEX—a fully on-chain central limit order book DEX for perpetual trading—is now live with invitation-only access. It supports 13 perpetual markets and processes transactions with one-block finality. The TIP standards enable developers to build interoperable trading applications called "Channels," with modules for spot, derivatives, and prediction markets. The ecosystem is designed to be AI-native and community-governed.

TheNewsCrypto03/28 09:24

TxFlow L1 Mainnet Launches, Enabling Multi-application On-chain Finance

TheNewsCrypto03/28 09:24

2025 DeFi On-Chain Revenue $80 Billion Panorama: Half of Lending Demand Is Borrowing from Oneself

This analysis provides a comprehensive breakdown of the $8 billion in on-chain yields generated in DeFi in 2025. The five primary sources are: AMM trading fees ($4.2B), lending interest ($1.76B), perpetual funding rates ($300M), real-world assets ($600-900M), and staking/MEV rewards. A key finding is that approximately half of all borrowing demand is recursive, where users borrow to leverage other yield sources. The report highlights that 58% of stablecoin TVL yields less than 3% APY, below U.S. Treasuries. It also notes that significant potential yield sources like on-chain options and insurance remain underdeveloped. A case study of the Sky protocol (formerly MakerDAO) shows its success in offering a 3.75% savings rate by sourcing ~70% of its yield from off-chain, real-world assets.

marsbit03/26 06:06

2025 DeFi On-Chain Revenue $80 Billion Panorama: Half of Lending Demand Is Borrowing from Oneself

marsbit03/26 06:06

Trump Tweets After Hours, Pushing On-Chain Perpetual Contracts into the Mainstream

Trump, who calls himself the "Crypto President," is also driving the adoption of perpetual futures contracts. He frequently makes market-moving statements outside traditional trading hours, coinciding with the rise of 24/7 trading infrastructure. Over a single weekend, Hyperliquid’s S&P 500 proxy product experienced three major price swings triggered by Trump’s tweets—first rising on positive remarks, then falling after a threat against Iran, and surging again following claims of diplomatic progress (later denied by Iran). This highlights a structural shift toward perpetual contracts and round-the-clock markets. Perpetual DEX trading volume reached $739 billion in January 2026, accounting for 10.2% of all crypto perpetual trading—up from just 2.0% two years prior. While it remains uncertain whether perps will dominate traditional finance, growth is undeniable. Recent developments, like Katana’s acquisition of IDEX and the launch of Katana Perps, signal increasing momentum. Regulatory clarity and macro risks are accelerating the move toward 24/7 trading, where price discovery happens continuously.

marsbit03/24 08:09

Trump Tweets After Hours, Pushing On-Chain Perpetual Contracts into the Mainstream

marsbit03/24 08:09

Century-Old S&P Goes On-Chain for the First Time: Who's Taking CME's Weekend Business?

On March 18, S&P Dow Jones Indices authorized the S&P 500 index to Trade.xyz for perpetual contracts on the Hyperliquid blockchain—the first time the flagship index has been licensed to an on-chain protocol. The move targets non-U.S. investors with 24/7 trading, USDC margin, and no expiration. The shift reflects traditional finance actively adopting on-chain infrastructure to reach underserved users and time windows. Hyperliquid’s HIP-3 protocol, launched in October 2025, saw open interest surge from near zero to $1.43 billion in six months, driven largely by traditional assets like Nasdaq 100, WTI crude oil, and gold—not crypto. A key catalyst was the March 9 Iran crisis, which occurred during traditional market closures. Hyperliquid’s oil contracts saw daily volume spike to $1.2 billion as traders sought 24/7 access. Trade.xyz, HIP-3’s largest market maker, has reached over $100 billion in cumulative volume in five months. Hyperliquid, with no VC funding, airdropped tokens to users and now holds a $40 billion fully diluted valuation. Its S&P 500 perpetual contract offers lower barriers and global access compared to CME’s traditional futures. S&P DJI’s endorsement signals that on-chain traders are now viewed as a mature investor class.

marsbit03/19 07:49

Century-Old S&P Goes On-Chain for the First Time: Who's Taking CME's Weekend Business?

marsbit03/19 07:49

Top 9 decentralised exchanges to trade on in March 2026

For a long time, crypto trading relied on centralized exchanges, requiring users to trust third parties with their assets. Decentralized exchanges (DEXs) emerged to eliminate intermediaries, allowing users to trade directly from their wallets using smart contracts and on-chain liquidity pools. Here are the top 9 DEXs in March 2026: 1. **Aster**: A multi-chain platform (Ethereum, BNB, Solana, Arbitrum) offering spot and perpetual trading with up to 1001x leverage and low fees. 2. **SushiSwap**: An automated market maker (AMM) operating on 40+ chains, featuring token swaps, limit orders, and cross-chain functionality. 3. **Ostium**: A perpetuals DEX on Arbitrum providing synthetic exposure to forex, commodities, and equities alongside crypto, with up to 200x leverage. 4. **Extended**: A Starknet-based perpetual futures DEX with 75+ markets, off-chain order matching, and on-chain settlement, offering up to 100x leverage. 5. **Reya**: Uses a central limit order book for derivatives trading on Arbitrum Orbit, with portfolio margin and up to 100x leverage. 6. **PancakeSwap**: A multi-chain AMM with 5000+ pairs, supporting spot swaps, limit orders, and perpetual futures via Aster integration. 7. **Curve**: Specializes in low-slippage stablecoin swaps across multiple chains, with deep DeFi integration and governance via CRV. 8. **Ethereal**: A perpetual DEX built around yield-earning USDe collateral, offering up to 50x leverage on its EVM-based appchain. 9. **Aerodrome**: Base network’s leading AMM using a ve(3,3) model to incentivize liquidity provision and reward distribution. DEXs now cater to diverse needs, from simple swaps to leveraged derivatives and synthetic assets. Users should research and start with small positions.

ambcrypto03/17 16:21

Top 9 decentralised exchanges to trade on in March 2026

ambcrypto03/17 16:21

On-Chain Whales' New Battleground: Hyperliquid Confronts Wall Street and Compliance Challenges

Hyperliquid, a leading decentralized exchange (Perp DEX) for perpetual futures, is rapidly expanding beyond crypto into traditional finance, particularly through its HIP-3 market for real-world assets (RWAs) like commodities and indices. With a monthly trading volume of $173.4 billion and over 172.9 million users, it has become a hub for institutional and large-scale traders, with the top 100 addresses accounting for over 81% of total trading activity. Recent geopolitical events, such as the U.S.-Iran conflict, have highlighted Hyperliquid’s role in providing 24/7 price discovery for assets like WTI crude oil, attracting attention from mainstream financial media like Bloomberg. This positions Hyperliquid as a emerging competitor to traditional markets like CME. However, its growth brings regulatory challenges. As U.S. regulators, including the CFTC, move toward approving crypto perpetual futures, Hyperliquid faces pressure to comply with financial regulations while preserving its permissionless, non-custodial nature. To address this, it has established a policy center in Washington, D.C., led by Jake Chervinsky, to engage with regulators and shape a legal framework for DeFi. The platform’s future depends on balancing innovation with compliance as it seeks to become a sustainable part of the global financial infrastructure.

比推03/17 04:23

On-Chain Whales' New Battleground: Hyperliquid Confronts Wall Street and Compliance Challenges

比推03/17 04:23

Hyperliquid "Invades" Wall Street: A Playground for On-Chain Whales, Facing Compliance Pressure Head-On

Hyperliquid, a leading decentralized exchange (Perp DEX) for perpetual futures, is gaining significant traction by expanding into traditional asset trading through its HIP-3 market, which includes commodities like WTI crude oil and stock indices. With a monthly trading volume of $173.4 billion and over 4.11 trillion in total volume—81% of which comes from the top 100 addresses—it has become a hub for institutional and professional traders rather than retail users. Recent geopolitical tensions, such as the U.S.-Iran conflict, have accelerated adoption, as Hyperliquid offers 24/7 price discovery even when traditional markets are closed. This growth occurs amid a broader shift of liquidity from centralized exchanges (CEX) to DEXs, with Perp DEX volumes surging 346% in 2025. However, Hyperliquid faces mounting regulatory challenges. The CFTC is expected to introduce policies for crypto perpetual futures in the U.S. within a month, which may force platforms like Hyperliquid to adopt stricter compliance measures, including KYC—potentially undermining their permissionless appeal. To navigate these issues, Hyperliquid established a policy center in Washington D.C., led by crypto lawyer Jake Chervinsky, aiming to shape DeFi regulation and ensure long-term legitimacy. The platform’s founders emphasize building a sustainable, financially neutral infrastructure, recognizing that compliance is essential for broader adoption in traditional finance.

marsbit03/17 01:15

Hyperliquid "Invades" Wall Street: A Playground for On-Chain Whales, Facing Compliance Pressure Head-On

marsbit03/17 01:15

Analysis: HYPE at $37 Current Price, Still Undervalued in a Bear Market

Analysis: HYPE at $37 is undervalued even in a bear market. Hyperliquid's 2025 revenue is 15% of CME's, yet its market cap is only 10% of CME's. The market is not pricing in the trillion-dollar TAM potential from HIP-3, which enables permissionless perpetual contracts for any asset. The Iran war weekend served as a stress test, with Hyperliquid's oil futures providing real-time global pricing while CME was closed. A four-scenario DCF model shows that even in a bear case (0.01% capture of the $1.74T daily TAM), HYPE's implied price is $60—well above the current $37. This suggests the base exchange business alone is undervalued. The base case (0.10% capture) implies $72, and the bull case (0.50% capture) implies $124. HIP-3 already contributes ~10% of fees just five months after launch. Hyperliquid's liquidity depth, execution quality, and lack of US-centric regulatory dependency strengthen its position. With a P/S ratio of 10-13x vs. traditional exchanges at 20-25x, HYPE is poised for re-rating as it captures migrating traditional finance volume.

marsbit03/14 06:27

Analysis: HYPE at $37 Current Price, Still Undervalued in a Bear Market