🤑 Crypto Circus: Bitcoin Tiptoes, Ether Winks, and HyperLiquid Goes Bonkers! 🎪

by

Markets

What to know, ye curious souls:

  • 🚀 HYPE leaped 12% like a frog on a hot griddle, all because HyperLiquid Strategies is cooking up a $1 billion stew to gobble up the token. Investor confidence? More like investor delirium! 😵💰
  • 📉 Funding rates are snoozing near zero, and BTC/ETH open interest is as still as a pond on a windless day. Everyone’s holding their breath for Friday’s U.S. CPI release-the financial equivalent of a cliffhanger. 🌬️
  • 🌮 Solana’s Jupiter DEX is spicing things up with a 19% revenue burrito and a 71% trading volume fiesta, sending its JUP token salsa dancing 3% higher. Ole! 💃

The crypto market, after a fortnight of rollercoaster rides and stomach-churning drops, decided to take a nap on Thursday. 🛌 Bitcoin and ether, those old reliables, stretched their legs with gains of 1.6% and 1.1%, respectively. Meanwhile, BNB and SOL were doing cartwheels on the upside. 🕺

But the real star of this three-ring circus? HYPE, which shot up 12% faster than a rocket with a lit match. Why? HyperLiquid Strategies is planning to raise a cool $1 billion to buy the token. Because nothing says “financial prudence” like throwing a billion bucks at a volatile asset. 🤡

The lack of volatility on Thursday was as refreshing as a lemonade on a summer day-especially compared to the past few weeks, which felt like a tornado in a teacup. 🌪️🍵

Derivatives Positioning

By Omkar Godbole (or as I like to call him, the Oracle of Open Interest)

  • 🎢 HYPE futures open interest jumped 17% in 24 hours, hitting a two-week high of 40.24 million HYPE. Pair that with rising prices and positive funding rates, and you’ve got a recipe for leveraged bullish madness. 🍳💥
  • 📉 BTC and ETH open interest? Flat as a pancake. Traders are sitting on their hands like they’re waiting for the last slice of pie. 🥧
  • 📊 Volmex’s BVIV pulled back to 50%, but it’s still higher than a kite in a hurricane. Auto-deleveraging and liquidity issues? Just another day in the crypto wild west. 🤠
  • 📉 Funding rates are snoozing near zero, except for XMR and BNB, which are slightly negative. Bears are whispering sweet nothings in their ears. 🐻
  • 📈 On Deribit, BTC put spreads are all the rage. Puts are trading at a premium to calls-because who doesn’t love a good doom-and-gloom bet? 🌧️

Token Talk

By Francisco Rodrigues (the Token Whisperer)

  • 🚀 Jupiter’s JUP token moonwalked 3% higher after the Solana-based DEX posted numbers that would make a Wall Street trader blush. Revenue up 19%, trading volume up 71%-it’s a party, and everyone’s invited! 🎉
  • 💰 Jupiter’s also cooking up its own stablecoin and prediction market. Because why stop at the stars when you can aim for the entire galaxy? 🌌
  • 📈 Quarterly revenue hit $45.8 million, trading volume soared to $242.8 billion, and fees reached $121.5 million. Yet, JUP’s market cap dipped 1.5% to $1.35 billion. Go figure. 🤷♂️
  • 🔧 Jupiter credits its Ultra v3 trading engine and a lending protocol that’s growing faster than a teenager on a growth spurt. Active wallets are up 5%, and TVL rose 41.7% to $3.4 billion. It’s a Solana success story, folks. 🌞
  • 🏆 JUP outperformed the broader crypto market, which rose a mere 1.6% based on the CoinDesk 20 index. Take that, averages! 📈

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2025-10-23 15:52