HYPE Reaches $50 After 240 Days, AI Giant's On-Chain IPO Craze Boosts Perp DEX Price Discovery
As of May 20th, HTX market data shows HYPE surged past $50, climbing 5.1% over the past 24 hours and notching a 96.6% year-to-date gain.
Market attention is squarely on its HIP-3 Pre-IPO perpetual contract ecosystem. Hyperliquid has rolled out pre-IPO perpetual contracts tied to top AI firms like SpaceX, Anthropic, and OpenAI.
Of these, the Cerebras perpetual contract offered by Trade.xyz has just a ~3% discrepancy relative to its Nasdaq debut opening price, versus a massive 35% deviation seen in traditional secondary markets.
Right now, the SpaceX Pre-IPO contract (ticker: SPCX) is live on Hyperliquid, with a reference valuation of roughly $1.78 trillion. Market forecasts project SpaceX’s IPO could raise between $750 billion and $800 billion, while Anthropic and OpenAI are also eyeing $1 trillion valuations. The HIP-3 model marks the first time retail investors can participate in price discovery for major tech firms’ IPOs via on-chain markets, though it could also draw scrutiny fro
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SpaceX's upcoming IPO prospectus to be released soon, Starship emerges as a core value narrative
SpaceX’s latest IPO prospectus is expected to be filed as early as Wednesday evening Eastern Time, with key highlights from its Starship rocket launch featured prominently—including a photo of the 400-foot-tall booster blasting off, enveloped in bright orange flames and a massive smoke plume, designed to showcase the craft’s breakthrough technology. The prospectus frames Starship as the core engine driving SpaceX’s future growth, positioning it as a key asset investors will use to gauge the company’s long-term value. The document’s release further solidifies Starship’s central narrative for SpaceX, cementing its role as a foundational element of the firm’s deep space transportation and commercial spaceflight goals. Data from pre-IPO trading platform trade.xyz shows SpaceX (ticker: SPCX) is currently trading at $203.13 per share, putting its valuation at $2.42 trillion.
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Brevis Image Traceability Tool Brevis Vera Open Sourced, Introduces Zero-Knowledge Proof in Image Traceability
May 20 – Brevis has officially launched Brevis Vera, its image traceability tool, which is now available to all users. The tool works with cameras or smartphones that support the C2PA standard; users can take photos, then perform edits like cropping, exposure adjustment, and color correction directly in Vera. After editing, they can generate a zero-knowledge proof file that any third party can independently verify via a web browser. This process confirms an image’s source and entire editing chain without revealing sensitive details about the original media or the editing workflow.
Brevis Vera first debuted back in March as an interactive concept demo. The full, official release now adds a zero-knowledge proof mechanism to the C2PA protocol stack. The tool is meant to be a supplementary primitive that existing editing software—such as Adobe Photoshop—can adopt, rather than serving as a direct competitor to those tools.
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In the past 24 hours, 26 vessels passed through the Strait of Hormuz, and the US and Brent oil prices trended downwards.
May 20 – A commander with Iran’s Revolutionary Guard Corps (IRGC) Navy reported that 26 vessels, including oil tankers, container ships, and other commercial craft, transited the Strait of Hormuz over the past 24 hours under the IRGC Navy’s coordination and security cover. He emphasized that all transit through the Strait of Hormuz requires advance permission and coordination with the IRGC Navy.
Per market data from Bitget, WTI and Brent crude oil prices have slipped slightly, currently trading at $104.98 and $104.76 per barrel, respectively.
Meanwhile, monitoring from PolyBeats shows that on prediction market Polymarket, the probability of vessels transiting the Strait of Hormuz by the end of this month is just 4%, with that estimate rising to 27% by the end of next month.
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Anchorage-associated addresses have accumulated 2.385 million HYPE tokens in the past month, worth approximately $119 million.
On May 20, monitoring from Onchain Lens reveals that a wallet associated with Anchorage withdrew 44,510 HYPE tokens from the Gate exchange, worth approximately $2.16 million. The address has accumulated a total of 2.385 million HYPE tokens over the past month, valued at around $11.9 million—and has staked all of it.
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