Jade.xyz is becoming "Ninasdak" after 220 days on the line

@OdailyChina

Wenser (@wenser2010)

A FEW YEARS AGO, IN THE FACE OF THE MEDIA'S PROBLEM OF COMPARING MONEY AND OTHER EXCHANGES, THE CZ SAID, "THE REAL RIVAL OF COIN IS NASDAQ."

And today, closer to this goal is the continued surge in US stock, gold and silver, and large commodity trades。

WITH ITS TOKEN, THE HYPE HAS INCREASED BY OVER 100%(Recommended reading:WHY IS HYPE STILL BOOMINGI'm not sureThe encryption market and even traditional finance are repositioning and pricing this “old Perp DEX”。

After the pre-Cebras (CBRS) World War I, Hyperliquid has begun to play the role of the “American stock price discovery machine” and is becoming the new NASDAQ。

Answer: 2026: Summarize in one sentence Hyperliquid

Last May, Trade.xyz Founder Shoku@sershokuninIt was mentioned in a tweet: “It is very interesting that, after so long, Hyperliquid is still viewed/evaluated only as a chained contract exchange. And if you take some time to study it in depth, you'll find that the team's real ambition is much more than that. The next product on line will show everyone how big this opportunity is."

A year later, it was discovered that this tweet was predisposed, and that this heavyweight product became today."Nasdark prototype on the chain—Trade.xyz。

Last October, the HIP-3 was officially opened and the largest third-party sustainable market on the HIP-3 came online with Trade.xyz. In less than six months, Trade.xyz achieved it“Accumulated transactions over $110 billion”This milestone breakthrough. Hyperliquid jumped into the current “RWA trading king” with the introduction of U.S. stock, pre-A.S. stock, bulk merchandise, etc. in HIP-3 and Trade.xyz。

May 18, HyperliquidOfficially published dataI don't knowTHE PLATFORM, RWA, HAS GROWN TO $2.6 BILLION IN THE SIZE OF UNSETTLED CONTRACTS FOR TRANSACTIONS, A RECORD HIGH, DOUBLE THE NUMBER TWO MONTHS AGO。Recent dataThe total trade in monetized stocks is at an all-time high of $3.57 billion, and Hyperliquid is the winner of this track。

Today, in Hyperliquid, encrypted assets are no longer the “principal melody” and monetized stocks and bulk commodities are becoming the focus of platform liquidity, including assets such as the NASDAQ index, standard 500, crude oil, gold, and silver。

According to a recent weekly report issued by Asset Management Arca, out of the top 30 markets in Hyperliquid, only 7 transactions in encrypted currency were carried out, with the remainder being transactions in goods and stocks from Trade.xyz。

At the end of the weekend, the traders were betting on the increase and fall of crude oil on Hyperliquid; before Cerebras IPO, United States stock traders and investment bank fund managers obtained more accurate reference to stock prices through the front price of Hyperliquid; and SpaceX went online and the market as a whole subsequently raised its market value to over $2 trillion。

HIP-3 trade ratio, Trade.xyz close to 90%

In terms of the scale of the deal, Trade.xyz's chain-based US stock contract is no longer a "happy bean existence" but hasFinancial market infrastructure for real price discoveryI don't know. In the past, only a few investment giants, coupons, marketers and exchanges in the capital markets held this authority。

The closeness of Trade.xyz to Hyperliquid and the ultimate real price compared to the traditional market has forced people to admit that, for the first time in history, the “price discovery rights” of the US stock moved from the traditional trading period to the chain of 7 *24 hours。

Hyperliquid, why do you think stock pricing is a constant capital game

Trade.xyz is not only the advantage of trading times without interruption, but also the multiple factors of product structure, global finance and whale leverage。

FirstTrading time advantageI don't know. The traditional financial markets suffer from a fundamental flaw, constrained by the historical trajectory: for example, the US share, the NASDAQ official trading period is only 9:30 to 16:00, while major events affecting global financial markets are increasingly taking place in “non-equity trading times”. This trend has become more apparent in recent months — the US-Iraq conflict, the tariff game, the policy push, with unexpected events often erupting after Friday, when traditional financial markets close. Traders have nowhere to go at the moment of greatest need to rush the risk, and they go to Hyperliquid. Today, Bloomberg quotes the offer for crude oil from the Hyperliquid platform as "the best reference price."The authority of chain prices is being recognized by mainstream mediaI don't know。

SecondProduct structural advantagesI don't know. Unlike pre-stock trading platforms such as PreStocks, where SPV-held structures are used, Trade.xyz's pre-ware contract is a pure, permanent composite asset, which does not involve any real equity, but a derivative of cash settlement. At the level of the legal structure, this persistent asset is completely different from traditional monetization equity and thus has greater flexibility at the level of compliance。BeforePrecious Jones authorizedThe use of the S& P500 index for the Hyperliquid term contract transaction is an example。

And thenGlobal liquidity advantagesI don't know. Global liquidity, including Asian capital, is equally needed after the closing of the US equity trading market, and the US equity market, which has the largest capital capacity, the most efficient financial flows and the largest number of participants, is “the best target.” The RWA trading platform in Hyperliquid offers them a sufficiently broad stage。

Macroeconomic, stock analyst Citrini's positive about Trade.xyz's price

FinallyLeverage whale pricing advantageI don't know. Hyperliquid is no doubt more friendly to giant whales that need to be highly leveraged than the strict KYC exchange or other front-to-front trading platform. Rapid game on the chain, 3-50 times leverage, has greatly facilitated the advancement of giant whales。

The two-way between encryption and traditional finance

DO YOU REALIZE THAT THE UNITED STATES STOCK MARKET, WHICH USED TO LABEL “BUSINESS PERFORMANCE AND FINANCIAL DATA” AS “ENCRYPTED MARKET QUALITY”, IS SHOWING A GROWING “ENCRYPTED MARKET”: IT IS DRIVEN BY THE STRENGTH OF MACRODATA AND IS DRIVEN BY A TROMPIAN TWEET, BY THE AGENCY'S MEGA-V PAGE, AMPLIFIED BY THE LOGIC OF NARRATIVES, PUSHED INTO THE TOP BY THE SCATTERED FOMO — AND HIT THE FLOOR SHARPLY BY A BREAKING NEWS。

ON THE OTHER HAND, WITH THE APPROVAL OF THE ENCRYPTED ETF, THE MAINSTREAM CURRENCY HAS TO SOME EXTENT BEEN “COLLECTED” BY TRADITIONAL FINANCE: THE RATE OF VOLATILITY HAS DECLINED, AND IT HAS BEEN PLUNGED INTO A LACK OF NARRATIVE SHOCKS。

The style-to-style transition of the two types of asset opens up real up-to-date space for Hyperliquid: as United States equity assets converge with encrypted assets, the price of a chain-based instrument to carry US equity is becoming possible, and the active matching of the whole new market structure has taken place。In the near future, the “link pricing first - front market follow-up - positive stock opening confirmation” transmission chain will reshape financial markets. Hyperliquid, an encrypted world infrastructure, is transforming in a new way into a “globalized NASDAQ”。

The institutions that understood that began to take over the highlands in Hyperliquid。

19 May, BitwiseDeclaration10% of BHYP Hyperliquid ETF management fee revenue will be used to hold the original HYPE HYPE on the company ' s balance sheet, and the related HYPE hold will be pledged; 20 May, Goldman Sachs, Distinguished InvestmentsSaleVALUE: $152 MILLION XRP, $500 MILLION ETH AND $450 MILLION BTC, AND SIMULTANEOUSLY BUY HYPE TOKENS。

(a) The Chief Investment Officer of Bitwise, Matt Hougan, stated externally that the value of hype was still undervalued by the marketThe real potential of Hyperliquid is to become a global trading super-application covering equities, Pre-IPO assets, commodities, forecast markets and encrypted assets。

In addition, according to recently released 13F disclosure documents, including Paradigm, Pentera, Pioneer Group, Castle Group, GalaxyTHE FUNDERS ARE COMPETING TO POSITION THE HYPE DAT TREASURYAdd your own list of investment assets。

From the chain

CZ HAS SAID THAT THE TRUE ULTIMATE OPPONENT OF THE ENCRYPTION MARKET IS A TRADITIONAL STOCK EXCHANGE LIKE NASDAQ。Now this phrase is being reinterpreted by Hyperliquid。

The market has come to realize that this competition is not about who can make a bigger encrypted exchange, but rather about the reshaping of the global financial infrastructure. Hyperliquid not only moved half of Wall Street onto the chain, but also tried to redefine the "market" itself。

United States equity transactions are limited to fixed time zones, unlisted companies lack open pricing and it is difficult for global users to participate equally in primary and secondary markets. These long-neglected financial boundaries are being pierced by chain trading systems。

“Asset-up” is too old-fashioned and is already a paradigm shift experiment on “price discovery rights”。

On Hyperliquid, for the first time, users around the globe are approaching the dawn of a truly 24/7, borderless, whole-good asset free flow。

Traditional platforms, including NASDAQ, are also being forced to rethink the boundaries of future financial markets。