Grayscale Positively Evaluates Payward's Entry into the U.S. Hyperliquid Market

Grayscale has positively evaluated Payward's plan to establish a hyperliquid-based perpetual futures market in the United States. An analysis suggests that the increase in trading participation from U.S. investors could lead to higher protocol fee revenues and an expansion in HYPE purchases. However, it emphasized the need for regulatory approval and actual fee inflows. Grayscale Research head, Jacques van der Linde, diagnosed that Payward's plan would enhance accessibility to the U.S. market. Payward intends to offer on-chain perpetual futures trading to U.S. customers utilizing hyperliquid infrastructure. This trading will be managed by the Bitnomial exchange, with customer accounts overseen by NinjaTrader. Payward announced the acquisition of Bitnomial last April and is already providing perpetual futures trading to eligible U.S. customers. Grayscale is focusing on the connection between trading fees and HYPE purchases, stating that if trading in the U.S. leads to fee revenues, the resources supporting HYPE purchases could increase. The open interest in hyperliquid reached approximately $9 billion in the second quarter of this year, a 54% increase compared to the previous year. Currently, HYPE is trading at $91.67.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.