Data: Web3 social application Towns has over 400,000 total users, with over 200,000 token holders

According to HTX market data, alongside HYPE’s rally, Kinetiq, a liquid staking protocol in the Hyperliquid ecosystem, its token KNTQ has broken above $0.5, rising over 15% in the past six hours, with its market cap hitting a new high of over $156 million.

As HYPE’s rally continues to push it above $94, the market net asset value multiple (mNAV) of Hyperliquid Strategies (PURR), the HYPE treasury firm, has returned to above 1. Data from the BIT stock platform shows its current mNAV is approximately 1.078, a 7.8% premium over net asset value. PURR is now trading at around $11.66, with an intraday gain of over 17%. Its net asset value per share is roughly $10.81, corresponding to a HYPE price of about $85.96. Today, Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, plans to partner with Trade.xyz to introduce perpetual contract products into regulated U.S. markets.

Elon Musk retweeted a post about legendary investor Stan Druckenmiller’s investment in Trade.xyz, commenting “Interesting.” Druckenmiller — a former chief trader at Soros Fund Management, legendary macro hedge fund manager who led the iconic 1992 bet against the British pound, and founder of Duquesne Capital — announced today he has joined Trade.xyz as an investor. He expressed excitement over the firm’s collaboration with Intercontinental Exchange (ICE) to bring Hyperliquid-based 24/7 perpetual contracts to the U.S. regulated market, adding that as a market participant, he looks forward to leveraging Trade.xyz’s innovative products to enhance his investment process. The news comes as ICE, parent company of the New York Stock Exchange, partners with Trade.xyz to launch perpetual contract products in the U.S. regulated space.

According to HTX market data, HYPE has continued its rally, breaking above $94, surging over 17% in 5 hours and remaining just 4.3% short of a new all-time high. Earlier reports noted that Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, plans to partner with Trade.xyz to introduce perpetual contract products into the U.S. regulated market.

Polymarket has launched five-minute cryptocurrency up/down prediction contracts on its regulated U.S. platform. The platform is operated by QCX LLC and regulated by the U.S. Commodity Futures Trading Commission (CFTC). Traders can predict whether assets including Bitcoin, Ethereum, Solana, and XRP will close above or below their starting price within five minutes. Correct predictions pay out $1 per unit, while incorrect ones yield zero, with a structure similar to binary options.

According to Bloomberg, prediction market platform Polymarket is probing a series of well-timed, highly profitable trades linked to this week’s Israeli election. Bloomberg’s analysis shows that shortly before voting concluded on Tuesday, hundreds of new accounts placed concentrated bets on Benjamin Netanyahu and his Likud party outperforming their rivals. After some exit polls indicated Netanyahu’s bloc secured more seats than initial reports, these trades turned profitable rapidly, with some accounts having already cashed out over $100,000. This is the latest case of insider trading concerns raised by prediction markets. Prior to this, Polymarket has faced extensive regulatory and public scrutiny for its accurate predictions on events including sports, U.S. elections, and geopolitical matters.