• The first question for any crypto prop firm is whether trades hit a real order book or a simulation.
• A crypto-native perpetuals trader gets the most from a crypto-first structure with verifiable payouts.
• HyroTrader is crypto only: USDT perpetual futures, no forex pairs, no indices, no metals.

Every crypto prop firm’s homepage makes the same pitch: six figures of buying power, a generous profit split, a challenge fee that looks small next to the capital on offer. Read five pricing pages in a row, and they blur into one.

The differences that decide whether a funded account survives live below the marketing.

They come down to three structural questions: where orders execute, how drawdown is measured, and what a payout actually is.

A trader who can answer all three about a firm knows more than most reviews will ever tell them.

Test one: where orders execute

The first question for any crypto prop firm is whether trades hit a real order book or a simulation.

Both architectures exist, and both can be honest; the failure mode is a simulation dressed up as the real thing.

HyroTrader put direct exchange execution at the center of its model in 2023, the first crypto prop firm to do it.

Traders connect to Bybit by API, and trade USDT perpetual futures on the trader’s own account against live order books, across more than 700 pairs.

The same firm shows what honest simulation looks like.

Its CLEO platform, built for traders in Bybit-restricted countries, prices from real-time Binance market data and order book depth while filling trades internally, and it simulates the unflattering parts: market impact, commissions, slippage landing in the position PnL at fill.

If a firm will not say plainly where fills happen, assume the answer costs you money.

Test two: how drawdown is measured

Two firms quoting the same daily limit can be selling different products, because what matters is the reference point.

HyroTrader’s standard daily drawdown is trailing: measured from the highest equity point reached during the day, unrealized profit included, so the risk line rises as the day goes well.

Its swing variant, sold as a paid upgrade, is static, measured from the day’s starting equity and reset once every 24 hours.

The daily limit itself is 4 percent on the one-step model and 5 percent on the two-step, calculated from initial capital.

A trailing limit punishes how you win. Ride a position up, give a third of the move back, and the giveback can trip the limit while the day is still green.

Crypto compounds the effect because volatility arrives in bursts; CoinJournal’s analysis of Bitcoin’s current tight range describes exactly the kind of compression that precedes them.

Test three: what a payout actually is

A payout policy is three numbers and a proof: how often, how fast, and whether anyone can verify it happened.

At HyroTrader, payouts are on demand, typically processed within 12 to 24 hours, in USDT or USDC, with no withdrawal commissions, and the first one can be requested as early as the day of the first trade.

Since April 2026, payouts through its vault system execute as Solana transactions with publicly verifiable IDs on Fireblocks infrastructure, so the proof does not depend on the firm’s word.

Cost belongs in the same test. HyroTrader’s challenge fees run one-time, from $59 for a 5,000 USDT account to $969 for 200,000 USDT, with no recurring charges, and the fee is refunded with the first profit split after passing.

A firm confident in its payout process has no reason to bury these numbers.

The honest trade-off

HyroTrader is crypto-only: USDT perpetual futures, no forex pairs, no indices, no metals.

A trader who wants gold or the S&P alongside BTC needs a multi-asset firm and accepts the different execution model that comes with it.

There are consistency rules too: during evaluation, no single day may contribute more than 40 percent of the result, though exceeding the cap only discounts the excess rather than failing the account.

The structure fits deliberate traders and frustrates all-in ones, which is the point.

Choosing by profile

A crypto-native perpetuals trader gets the most from a crypto-first structure with verifiable payouts, which is HyroTrader’s case.

A generalist who wants metals and indices in the same account belongs at a multi-asset firm: FTMO, which popularized the modern evaluation model, runs crypto as one market among forex, indices, and metals, and FundedNext brings similar breadth.

Whatever the profile, start from a crypto prop firm comparison that puts evaluation costs, drawdown types, and payout terms side by side, then read the full rulebooks of the two finalists. Pick the rulebook you can recite before you pay for it.

Figures come from the firms’ published terms as of August 2026; verify current numbers before purchasing an evaluation. Trading crypto derivatives carries substantial risk of loss.

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Key takeaways

• Zcash dipped 1% on Tuesday following Monday’s rally. day, 
• The Ironwood shielded pool now holds 3.07 million ZEC, representing 70% of total shielded volume.
• ZEC is approaching the apex of a symmetrical triangle, with resistance near $528.

Zcash (ZEC) dipped 1% on Tuesday despite the massive rally on Monday. The surge earlier this week comes as rising Ironwood adoption and stronger derivatives activity supported demand.

The privacy coin trades above $500 and is approaching the apex of a symmetrical triangle pattern. A breakout above the upper trendline could strengthen the bullish outlook and bring the $600 region into focus.

Ironwood shielded volume crosses 3 million ZEC

Migration to Zcash’s Ironwood shielded pool continues to gain traction following the discovery of a counterfeiting vulnerability affecting the network’s older pool infrastructure.

Data from Zkp.baby shows that Ironwood’s shielded volume reached 3.07 million ZEC on Monday. The pool now accounts for approximately 70% of the total ZEC held in shielded pools.

Meanwhile, volume in the older Orchard pool has declined to 761,889 ZEC as users continue migrating their holdings.

The shift toward Ironwood indicates growing adoption of the updated shielded infrastructure. It also suggests that users are responding to the network’s security changes while maintaining demand for Zcash’s privacy features.

Zcash’s derivatives market is also showing renewed retail participation. CoinGlass data shows that ZEC futures Open Interest decreased 1% over the past 24 hours to $924.16 million. The decrease signals that traders are closing new positions or allocating more capital to existing contracts.

Zcash price outlook: ZEC approaches triangle breakout

Zcash trades above $500 on Tuesday, maintaining a mildly bullish technical outlook as it holds above the 50-day Exponential Moving Average at approximately $490.

The 200-day EMA near $420 also supports the broader bullish structure. Meanwhile, the price is contracting between two converging trendlines, forming a symmetrical triangle on the daily chart.

This pattern typically indicates declining volatility before a larger directional move. However, the triangle does not confirm whether the eventual breakout will be bullish or bearish.

Momentum indicators provide mixed but improving signals. The Relative Strength Index has risen above its neutral level to 55, suggesting renewed buying pressure.

The Moving Average Convergence Divergence indicator remains marginally below its signal line, pointing to some lingering downside pressure. A bullish crossover would provide additional confirmation that buyers are regaining control.

Zcash faces immediate resistance at the triangle’s upper trendline near $528. A sustained daily close above this level would confirm a bullish breakout and could propel ZEC toward the 78.6% Fibonacci retracement at approximately $595. This level is calculated from the decline between $690 and $250.

Clearing $595 would bring the psychologically important $600 level into focus and strengthen the prospect of a broader trend continuation.

On the downside, the 50-day EMA near $490 provides initial support. A breakdown below this moving average could extend the correction toward the 50% Fibonacci retracement at $470.

If selling pressure intensifies, the 200-day EMA at approximately $420 represents the next major support level. Holding above these moving averages would preserve Zcash’s broader recovery structure.

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Key takeaways

• Chainlink trades around $9.42 after gaining more than 14% last week.
• A long-to-short ratio of 0.76 and negative funding point to weakening derivatives sentiment.
• Spot LINK ETFs attracted $2.07 million on Monday, their largest daily inflow since July 22.
• Losing support at $9.39 could trigger a pullback toward $8.94 and the $8.60–$8.50 region.

Chainlink (LINK) is struggling to overcome resistance near $9.56 on Tuesday, pausing after rallying more than 14% during the previous week.

Weakening derivatives indicators suggest that bullish momentum may be losing strength. However, renewed institutional demand through spot LINK exchange-traded funds could support another attempt to move higher.

Derivatives traders adopt a bearish stance

CoinGlass data shows early signs of weakening sentiment in Chainlink’s derivatives market.

LINK’s long-to-short ratio stands at 0.90 on Tuesday, close to its lowest level in a month. A reading below one indicates that short positions outnumber long positions, suggesting more traders expect the price to decline.

Chainlink’s funding rate also turned negative, falling to minus 0.0050%. Negative funding means short-position holders are paying traders with long exposure, reflecting a bearish imbalance in the perpetual futures market.

Together, the indicators suggest that derivatives traders are becoming more cautious after LINK’s double-digit weekly rally.

However, heavily bearish positioning could also increase the possibility of a short squeeze if Chainlink breaks through its nearby resistance levels.

Institutional demand showed improvement at the beginning of the week. Data from SoSoValue shows that spot Chainlink ETFs recorded $2.07 million in net inflows on Monday. This represented the products’ largest single-day inflow since July 22.

The increase suggests that institutional investors are rebuilding exposure to LINK following its recent recovery.

Continued ETF inflows could help absorb profit-taking and provide the demand needed for Chainlink to overcome the 200-day Exponential Moving Average. However, a single day of positive flows is insufficient to establish a lasting trend.

A sustained series of inflows throughout the week would provide stronger confirmation of renewed institutional interest.

Chainlink price outlook: LINK tests the 200-day EMA

Chainlink trades around $9.42 on Tuesday and remains above its 50-day and 100-day EMAs, positioned at $8.50 and $8.60, respectively.

Holding above these moving averages supports a mildly bullish medium-term outlook. However, LINK remains below the 200-day EMA at $9.56, which is limiting the current recovery.

The token has reclaimed the 61.8% Fibonacci retracement at $9.39, establishing this level as immediate support.

Momentum indicators remain constructive but show that LINK may be approaching stretched conditions. The Relative Strength Index is near 67, just below the overbought threshold of 70, while the Moving Average Convergence Divergence indicator remains positive.

These readings suggest that buyers retain control but may encounter increasing resistance following last week’s sharp rally.

A decisive daily close above the 200-day EMA at $9.56 would strengthen Chainlink’s bullish outlook and bring the horizontal resistance at $9.92 into focus.

Clearing both barriers could allow LINK to test the 78.6% Fibonacci retracement at $10.04. Beyond that, the cycle-high region around $10.87 represents the next major bullish objective.

On the downside, the 61.8% Fibonacci level at $9.39 provides the first line of support. A break below this area could trigger a pullback toward the 50% retracement at $8.94.

Stronger support is concentrated between the 100-day EMA at $8.60 and the 50-day EMA at $8.50. Holding this zone would preserve the medium-term recovery structure, while a decisive breakdown could return control to sellers.

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Key takeaways

• Pi Network edges higher on Monday as buyers defend the $0.0839 support level following two consecutive daily declines.
• The Pi Core Team released Node version 0.6.2 after successfully testing distributed computing capabilities across the network.
• A break below $0.0786 could invalidate the recent channel breakout, while a recovery above $0.1000 could strengthen the bullish outlook.

Pi Network (PI) edges higher on Monday as buyers attempt to defend the key $0.0839 support level following two consecutive days of losses.

The mild recovery comes after the Pi Core Team released a new Node upgrade focused on advancing the network’s distributed computing capabilities. However, PI’s technical outlook remains mixed, with weak derivatives activity and indecisive momentum limiting confidence in a sustained rebound.

Weak market sentiment weighs on Pi Network

Pi Network remains a highly speculative cryptocurrency whose price is heavily influenced by broader market conditions, retail demand and the strength of its community.

CoinMarketCap’s Crypto Fear and Greed Index stands at 38 on Monday, reflecting cautious sentiment and reduced risk appetite among investors.

Renewed geopolitical tensions involving Israel, Lebanon, the United States and Iran have contributed to uncertainty across risk assets. This defensive environment could make it more difficult for speculative tokens such as PI to attract fresh capital.

The Pi Network community continues to anticipate further ecosystem development around its reported base of 18 million Know Your Customer-verified users.

The Pi Core Team released version 0.6.2 of its Node software on Saturday. The upgrade follows a successful test of distributed computing capabilities across Pi Nodes and could provide a foundation for additional network utilities.

Expanding the role of individual Nodes beyond transaction validation could strengthen the network’s functionality and provide new use cases for participants. However, the upgrade’s long-term impact will depend on whether developers introduce applications that generate sustainable user demand.

Social activity showed a modest increase following the announcement. Santiment data indicates that Pi Network’s Social Dominance rose to 0.01% on Sunday from 0.009% on Saturday. Social Volume also increased to 12 from 8 over the same period.

The figures suggest that the Node upgrade generated slightly more discussion, although overall social engagement remains limited.

Pi Network’s derivatives market continues to show reduced trader participation. According to CoinAnk, PI futures Open Interest declined to $8.81 million from $9.12 million on Friday.

Open Interest measures the notional value of outstanding derivatives contracts. A decline generally indicates that traders are closing leveraged positions or reducing their exposure.

The continued reduction in PI futures Open Interest suggests that speculative interest is weakening despite the latest technical upgrade and Monday’s mild price recovery.

Pi Network struggles to extend falling-channel breakout

Pi Network maintains a bearish short-term bias as its price consolidates below $0.0900.

PI previously broke above a falling-channel pattern on the daily chart, creating the possibility of a bullish reversal. However, the token has failed to produce meaningful upside follow-through, reflecting weak buying demand.

At the time of writing, buyers are defending the 78.6% Fibonacci retracement level at $0.0839. The retracement is measured from the recent decline between $0.1341 and $0.0703.

A sustained break below $0.0839 could expose the former channel resistance trendline near $0.0786. A decisive daily close below this level would weaken the bullish breakout structure and raise the risk of deeper losses.

Pi Network’s daily momentum indicators provide little evidence of a strong recovery. The Moving Average Convergence Divergence indicator remains only marginally above its signal line and is at risk of forming a bearish crossover. Such a move would indicate that downside momentum is beginning to strengthen.

The Relative Strength Index stands at 45, below its neutral midpoint of 50. This reading reflects modest bearish pressure but remains consistent with range-bound trading rather than an oversold market.

On the upside, the psychological threshold at $0.1000 represents the first major resistance level.

This area is reinforced by the 50% Fibonacci retracement at $0.1022, creating a meaningful supply zone where sellers could limit any recovery.

A decisive breakout above $0.1022 would strengthen PI’s recovery prospects and could open the way toward the 23.6% Fibonacci retracement at $0.1190.

Until PI generates stronger buying demand and derivatives participation begins to recover, its near-term outlook is likely to remain cautious.

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Key takeaways

• Bitcoin trades around $63,500 after recording a modest decline last week.
• US spot Bitcoin ETFs suffered $389.71 million in net outflows during the week.
• BTC has consolidated between $62,300 and $66,500 since mid-July as trading volume and implied volatility decline.

Bitcoin (BTC) trades slightly higher at around $63,500 on Monday after posting a modest correction during the previous week.

Improving risk sentiment is supporting the mild rebound, although institutional demand remains cautious following weekly outflows from US spot Bitcoin Exchange-Traded Funds (ETFs).

Bitcoin has traded broadly sideways since mid-July, with its price confined to a narrow range and volatility falling to unusually low levels.

Analysts warn that the period of calm may be approaching an end, with a sharp move potentially determining BTC’s next short-term trend.

Spot Bitcoin ETFs record $389.71 million in weekly outflows

Institutional demand weakened last week as US spot Bitcoin ETFs registered combined net outflows of $389.71 million, according to SoSoValue.

The negative flows indicate that institutional investors reduced their exposure through regulated Bitcoin investment products.

If ETF outflows continue or accelerate this week, they could increase selling pressure and push BTC toward the lower boundary of its consolidation range.

However, a return to net inflows could help Bitcoin stabilize and provide the demand needed for another attempt at breaking through nearby resistance.

A Monday report from 10x Research highlighted the sharp decline in cryptocurrency trading volumes from their post-inauguration and October flash-crash peaks.

Bitcoin is now compressed within its narrowest trading range in several months. The research firm noted that similar periods of extremely low volatility have historically been temporary and often preceded substantial price movements.

The compression indicates that buyers and sellers have reached a temporary balance. Once either side gains control, the resulting breakout could produce a rapid increase in volatility.

Bitcoin options data also points to changing expectations among market participants.

Implied volatility has declined to historically subdued levels, indicating that options traders currently expect limited price fluctuations. This calm persists despite several cautious market signals, including spot ETF outflows, continued stablecoin withdrawals, and Strategy—formerly known as MicroStrategy—acting as a net seller for four consecutive weeks.

Together, these factors suggest that Bitcoin may be approaching a volatility expansion.

The direction of the breakout remains uncertain. A sustained move above resistance could attract momentum buyers, while a breakdown below support could trigger renewed selling and force leveraged positions out of the market.

Bitcoin remains confined between $62,300 and $66,500

Bitcoin maintains a mildly bearish technical bias as it trades below important Exponential Moving Averages (EMAs).

BTC has consolidated between the horizontal support level at $62,300 and resistance at $66,500 since mid-July. The cryptocurrency trades around $63,300–$63,500 on Monday after successfully defending the lower boundary during the previous week.

The range has become increasingly tight, reflecting reduced volatility and limited directional conviction.

Bitcoin’s daily momentum indicators remain slightly bearish. The Moving Average Convergence Divergence histogram is marginally negative, indicating that downside momentum has not completely faded.

The Relative Strength Index stands near 45, below its neutral midpoint of 50. This reading suggests that sellers maintain a modest advantage despite Bitcoin’s stabilization above $63,000.

Neither indicator currently signals extreme bearish conditions, but both show that BTC lacks the momentum required for a convincing upside breakout.

The horizontal floor at $62,300 remains Bitcoin’s most important immediate support level.

A daily close below this area would confirm a breakdown from the consolidation range and could extend the decline toward the yearly low at $57,800, established on July 1.

On the upside, Bitcoin faces initial resistance at the 50-day EMA of $64,313. A daily close above this average would ease some of the immediate selling pressure.

The next major obstacle sits between the 100-day EMA at $66,392 and the horizontal resistance level at $66,500.

As long as Bitcoin remains below its 50-day EMA and the $66,392–$66,500 resistance cluster, rallies may continue to attract sellers. A sustained recovery above both moving averages would improve the technical outlook and strengthen the case for a bullish breakout.

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Key  takeaways

• SharpLink Gaming plans to stake $200 million worth of Ethereum through Lido.
• The allocation will be converted into wrapped staked ETH and held with Anchorage Digital.
• wstETH enables SharpLink to earn staking rewards while retaining access to DeFi liquidity.

SharpLink Gaming (SBET) plans to allocate $200 million worth of Ethereum to Lido as the company seeks to generate additional returns from its expanding ETH treasury.

The Ethereum will be staked and converted into wrapped staked ETH, known as wstETH. Anchorage Digital will provide institutional custody for the assets, according to SharpLink’s announcement on Thursday.

The allocation adds Lido to SharpLink’s wider staking and restaking strategy, allowing the company to earn Ethereum network rewards while maintaining greater flexibility over how it deploys its holdings.

SharpLink expands its Ethereum staking strategy

SharpLink is pursuing ways to increase the productivity of the ETH held on its balance sheet instead of leaving the assets idle.

Through Lido, the company will stake $200 million in ETH and receive wstETH in return. The token represents staked Ethereum and the rewards generated from participating in the network’s proof-of-stake validation system.

Unlike directly staked ETH, wstETH can be transferred, traded or used within compatible decentralized finance applications while the underlying tokens continue generating staking rewards.

The structure could allow SharpLink to earn a base Ethereum staking yield while retaining the option to deploy its wstETH across other protocols.

SharpLink CEO Joseph Chalom described the allocation as an expansion of the company’s strategy to make its ETH holdings more productive. He said wstETH provides composability while allowing the company to maintain institutional risk standards.

SharpLink will custody the resulting wstETH with Anchorage Digital. The decision provides the company with a regulated institutional custodian while it increases its exposure to Ethereum’s staking and decentralized finance infrastructure.

Institutional custody is particularly important for corporate crypto treasuries because companies must manage operational, cybersecurity and governance risks alongside potential investment returns.

SharpLink did not disclose whether Anchorage Digital would also facilitate deployment of the wstETH into other DeFi platforms or whether the assets would initially remain in custody.

Technical forecast: LDO targets the $0.3370 resistance

The LDO/USD 4-hour chart remains bearish despite Lido rallying over the past few hours. However, the technical indicators suggest that the bulls could push the price higher in the near term.

The RSI of 57 is above the neutral 50, indicating that the bears are no longer in control of the market. The MACD lines also add further confluence to the bullish narrative.

If the rally persists, LDO could target the first major resistance at the $0.3370 level, which also coincides with the TLQ on the 4-hour timeframe.

An extended rally could allow LDO to reclaim the $0.4063 swing high for the first time since July 27.

However, if the bears regain control, LDO could retest last week’s low of $0.2716 in the near term.

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Key takeaways

• Bitcoin trades near $63,567 on Friday after rebounding from support around $62,300.
• BTC remains below its 50-day, 100-day and 200-day EMAs, preserving the broader bearish bias.
• The RSI at 46 and a negative MACD signal weak momentum despite the recent stabilization.

Bitcoin (BTC) shows signs of stabilization on Friday after recovering from a correction earlier in the week.

BTC trades around $63,567 after buyers defended the $62,300 support level on Thursday. Holding this area could provide the foundation for a short-term rebound, but the price remains below all its major Exponential Moving Averages (EMAs).

Weak momentum indicators and several resistance barriers above the current price suggest that any recovery may remain limited unless Bitcoin reclaims the $64,488–$66,604 region.

Bitcoin rebounds from $62,300 support

Bitcoin found support around $62,300 on Thursday before recovering to approximately $63,567 on Friday.

The rebound indicates that buyers remain active near the lower boundary of the current range. However, BTC continues to trade below the 50-day, 100-day, and 200-day EMAs, which are positioned between $64,488 and $72,035.

When the price trades below these major moving averages, they can act as dynamic resistance during recovery attempts. This structure suggests the broader trend remains bearish despite Bitcoin’s ability to defend short-term support.

A stronger reversal would require BTC to reclaim the 50-day EMA before challenging the higher resistance levels created by the longer-term averages.

Bitcoin’s Relative Strength Index stands near 46, below the neutral level of 50.

The reading indicates that sellers maintain a slight advantage, although the indicator remains well above oversold territory. A move above 50 would suggest improving momentum and could reinforce the likelihood of a broader recovery.

The Moving Average Convergence Divergence remains below its zero line, supporting the bearish outlook.

Together, the indicators show that downside pressure has eased but has not disappeared. Bitcoin needs stronger buying volume and a decisive move above nearby resistance to confirm a momentum shift.

BTC faces resistance at $64,488

The 50-day EMA at approximately $64,488 represents Bitcoin’s first significant resistance level.

A daily close above this moving average could strengthen the rebound and allow BTC to challenge the 38.2% Fibonacci retracement level near $65,547.

Beyond that, the horizontal resistance at $66,500 and the 100-day EMA at $66,604 form a dense supply zone. Sellers may defend this region aggressively, particularly after Bitcoin’s recent correction.

If buyers overcome the $66,500–$66,604 range, the 50% Fibonacci retracement near $67,940 would become the next upside target.

A sustained move above $67,940 would substantially improve the short-term technical outlook, although the 200-day EMA near $72,035 would remain a major long-term barrier.

On the downside, initial support sits at the 23.6% Fibonacci retracement level around $62,586.

The horizontal floor at $62,300 provides the next and more critical support. This level triggered Thursday’s recovery and remains essential to Bitcoin’s short-term outlook.

A daily close below $62,300 would invalidate the immediate rebound scenario and signal that selling pressure is strengthening.

Such a breakdown could expose Bitcoin’s broader support near $57,800, which marks the current cycle low. Buyers would likely attempt to defend this area because a sustained move below it could extend the wider bearish trend.

For now, holding above $62,300 keeps the possibility of a recovery toward $64,488 and $65,547 intact. However, Bitcoin must reclaim the major moving averages to demonstrate that bulls are taking control.

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Key takeaways

• Hyperliquid gained 2% on Thursday after advancing nearly 3% in the previous session.
• Hyperion DeFi’s HYPE holdings recorded a $31 million fair-value increase during the second quarter.
• HYPE futures Open Interest rose more than 4% to $2.38 billion, while trading volume jumped 45%.

Hyperliquid (HYPE) extended its recovery on Thursday as sustained corporate demand and improving derivatives activity supported bullish momentum.

The token gained approximately 2%, building on its nearly 3% advance during the previous session. HYPE is now approaching its 50-day Exponential Moving Average (EMA) near $58.37, which represents the next major obstacle to further gains.

A decisive break above this level could allow Hyperliquid to target the $62.58 supply zone.

Corporate treasuries maintain strong HYPE exposure

Corporate interest in Hyperliquid remains firm, with HYPE-focused digital-asset treasuries increasing their exposure while benefiting from the token’s rising market value.

Hyperliquid Strategies held 17.60 million HYPE, up from 12.50 million in January. The market value of its holdings climbed from $703 million at the end of the first quarter to approximately $980 million in the second quarter.

Hyperion DeFi also increased its treasury holdings from 1.88 million HYPE to 1.93 million. The value of its position rose from $77 million at the end of the first quarter to $107 million in Q2, representing a $31 million fair-value increase.

The stability and growth of these corporate positions indicate continued confidence in the Hyperliquid ecosystem.

Digital-asset treasury companies can provide sustained demand by accumulating and holding tokens over longer periods. However, concentrated corporate holdings may also create selling risks if treasury firms later reduce their exposure.

Retail and derivatives activity has strengthened alongside the price recovery. CoinGlass data shows HYPE futures Open Interest rose more than 4% over the past 24 hours to $2.39 billion. Increasing Open Interest indicates that the notional value of active contracts is rising, potentially reflecting the creation of new positions.

Trading volume also jumped 45% to $1.60 billion over the same period, showing that traders are becoming more active as HYPE approaches key resistance.

The simultaneous rise in price, trading volume and Open Interest supports the view that fresh capital is entering the market rather than the recovery being driven solely by traders closing existing positions.

Hyperliquid’s liquidation data reflects a bullish short-term bias. Short liquidations reached $1.34 million over the previous 24 hours, significantly exceeding the $251,040 in liquidated long positions. The imbalance suggests rising prices forced bearish traders to close leveraged positions.

HYPE’s funding rate remained positive at 0.0080%, despite experiencing brief moves into negative territory. Positive funding means traders holding long positions are paying shorts, showing a willingness to pay a premium for bullish exposure.

While the data supports further gains, rising leverage could increase volatility. An unexpected reversal could trigger long liquidations and place renewed pressure on the token.

HYPE remains above long-term support

HYPE continues to trade above its 200-day EMA at $51.29 and a rising trendline near $53.05.

These levels reinforce the token’s broader constructive structure and could attract buyers if the recovery loses momentum.

The Moving Average Convergence Divergence indicator has crossed above its signal line, while its histogram remains positive. The shift indicates that bullish momentum is gradually rebuilding.

The Relative Strength Index stands near 50, reflecting neutral conditions and leaving room for further gains before the token enters overbought territory.

The 50-day EMA at approximately $58.37 remains the immediate resistance level controlling HYPE’s short-term outlook.

A decisive daily close above the moving average could confirm strengthening bullish momentum and open the way toward the $62.58 supply zone.

Failure to reclaim the 50-day EMA could produce another pullback toward the rising trendline at $53.05. Below that level, the 200-day EMA at $51.29 would provide the next important support.

Buyers would need to defend this support cluster to preserve Hyperliquid’s wider bullish structure.

For now, growing corporate holdings and improving derivatives metrics favor the recovery, but a breakout above $58.37 remains necessary to confirm its continuation.

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Key takeaways

• XLM remains under pressure at $0.160.
• Positive funding rates for both tokens offer limited hope of a recovery.
• XLM must reclaim the $0.176–$0.180 area to improve its outlook.

XLM continues to trade below several major moving averages. Mixed derivatives and on-chain signals reveal uncertainty among traders, leaving XLM exposed to further losses despite tentative signs of improving sentiment.

XLM traders show mixed positioning

CoinGlass derivatives data points to a more bearish outlook for Stellar. XLM’s long-to-short ratio was notably weaker at 0.92, approaching its lowest level in more than a month. 

A reading below one indicates that short positions outnumber longs, reflecting expectations of further downside.

Funding rates for both tokens have improved despite their weak price performance. XLM’s funding rate climbed to 0.0092%. 

Positive funding means traders holding long positions are paying short sellers, generally indicating bullish demand in the perpetual futures market.

The figures suggest that some traders are willing to maintain bullish exposure while prices remain under pressure. However, continued declines could leave those long positions vulnerable to liquidations.

CryptoQuant data presents a mixed picture for Stellar. XLM’s futures market shows selling-side dominance across both spot and futures markets. 

The presence of large whale orders adds uncertainty, but the broader data continues to favor caution while sellers control trading activity.

Stellar remains below major moving averages

Stellar traded near $0.160 on Thursday, maintaining a bearish short-term outlook below all three major EMAs.

The 50-day EMA is positioned at $0.176, while the 100-day and 200-day EMAs stand at $0.180 and $0.190, respectively. 

Their convergence above the current price creates a dense resistance zone that buyers must overcome before a meaningful recovery can develop.

Momentum indicators also remain weak. XLM’s RSI is near 33, placing it close to oversold territory, while the MACD continues to trade in negative territory.

Although the low RSI could eventually support a relief rally, it does not by itself confirm that XLM has reached a bottom.

The first important resistance zone for Stellar sits between the 50-day EMA at $0.176 and horizontal resistance at $0.177.

A break above this area could ease selling pressure and open the way toward the 100-day EMA at $0.180. Bulls would then need to clear the 200-day EMA at $0.190 to establish a stronger recovery.

If XLM remains below these levels, the bearish outlook will persist. Continued selling could send the token toward its next meaningful horizontal support at $0.142, where buyers may attempt to defend the price.

For now, XRP’s slight bullish positioning provides limited recovery hope, but both tokens remain technically vulnerable while trading below their major moving averages.

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Key takeaways

• Uniswap falls nearly 6% on Wednesday after declining 5% in the previous session.
• Uniswap has launched Continuous Clearing Auctions on Avalanche, allowing teams to conduct on-chain token sales and bootstrap liquidity.
• UNI’s social dominance and volume have fallen sharply, signaling weaker retail attention.

Uniswap (UNI) faces intense selling pressure on Wednesday, falling nearly 9% after recording a 5% decline the previous day.

The pullback comes despite Uniswap’s continued product expansion, including the introduction of Continuous Clearing Auctions on Avalanche. The feature allows blockchain projects to conduct fully on-chain token auctions and establish initial liquidity through Uniswap v4.

However, declining social activity and derivatives demand suggest the launch has not been enough to offset the cryptocurrency market’s broader risk-averse mood.

Continuous clearing auctions launch on Avalanche

Uniswap’s Continuous Clearing Auctions provide Avalanche developers with a new mechanism for launching tokens and bootstrapping liquidity onchain.

The model is designed to reduce friction during token distribution by allowing teams to conduct auctions transparently through smart contracts. Projects can then connect their newly distributed tokens with Uniswap v4 liquidity.

The launch expands Uniswap’s presence on Avalanche and strengthens its role as infrastructure for token issuance, trading and liquidity management.

It follows the recent launch of the TradePools platform on Robinhood, which allows users to deposit USDC, USDT or ETH in pursuit of yield.

While these developments may support Uniswap’s long-term utility, they have yet to produce a meaningful improvement in near-term demand for UNI.

Retail interest in Uniswap is weakening as traders prepare for the release of July’s US Consumer Price Index report, scheduled for Wednesday at approximately 12:30 GMT.

The CPI reading could influence the Federal Reserve’s next interest-rate decision and affect demand for risk assets. A hotter-than-expected report could strengthen expectations for tighter monetary policy, while softer inflation could improve sentiment across cryptocurrency markets.

Santiment data shows Uniswap’s social dominance fell to 0.08% on Tuesday from 0.19%. Social volume also declined to 40 from 152.

The sharp contraction indicates that UNI accounts for a smaller share of cryptocurrency discussions and is attracting less attention from retail traders.

Uniswap’s derivatives market reinforces the decline in retail participation.

CoinGlass data shows UNI futures open interest fell more than 3% over the past 24 hours to $261.60 million. The decline indicates traders are closing positions and reducing their leveraged exposure.

Long liquidations reached $2.88 million during the same period, significantly exceeding short liquidations of just $1,950. The imbalance shows that falling prices have disproportionately forced bullish traders out of their positions.

However, UNI’s open-interest-weighted funding rate improved to 0.0016% from negative 0.0054% the previous day.

The return to positive funding indicates that the remaining leveraged market carries a slight bullish bias. Still, falling open interest and heavy long liquidations suggest overall sentiment remains fragile.

Uniswap Technical outlook: UNI tests 100-day EMA

Uniswap is testing its 100-day Exponential Moving Average at $3.55, an important near-term support level.

UNI remains below the 50-day EMA at $3.65 and the 200-day EMA at $3.93. These moving averages create overhead resistance and reinforce the prevailing bearish structure.

The Relative Strength Index has declined to 40, placing it below the neutral midpoint of 50 and indicating growing selling momentum. However, the indicator remains above the oversold threshold of 30.

The Moving Average Convergence Divergence indicator has also fallen below its signal line, while its expanding bearish profile suggests downside momentum is strengthening.

A decisive daily close below the 100-day EMA at $3.55 could extend Uniswap’s decline toward the 50% Fibonacci retracement level at $3.25. This level is measured from UNI’s advance between $2.31 and $4.57.

A successful defense of $3.55 could allow buyers to attempt a recovery. However, UNI must reclaim the 50-day EMA at $3.65 to ease immediate selling pressure.

Above that level, the 23.6% Fibonacci retracement at $3.89 and the 200-day EMA at $3.93 form a significant resistance cluster.

Until Uniswap recovers above these moving averages with stronger trading activity, the short-term outlook is likely to remain bearish.

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