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21Shares launches Hyperliquid ETP on Swiss Exchange amid surging DeFi volumes

  • 21Shares lists first Hyperliquid ETP on SIX, offering regulated exposure to HYPE token.
  • Hyperliquid hits $319B monthly trades, capturing 35% of blockchain revenue in July.
  • Market concerns linger, but analysts see long-term growth in DeFi derivatives demand.

21Shares, a Switzerland-based asset manager and issuer of crypto exchange-traded products (ETPs), has listed the Hyperliquid ETP on the SIX Swiss Exchange.

The new product provides institutional and retail investors with exposure to Hyperliquid’s native token (HYPE) without the need for wallets or on-chain custody.

The listing represents the first institutional-grade investment vehicle offering direct exposure to the Hyperliquid protocol.

It arrives just days after HYPE reached an all-time high of $50.99, reflecting the platform’s growing influence in the decentralized finance (DeFi) derivatives sector.

Mandy Chiu, head of financial product development at 21Shares, praised Hyperliquid’s trajectory, stating that its “growth has been nothing short of extraordinary, and the underlying economics are among the most compelling we’ve seen in the space.”

Founded in 2018, 21Shares has a record of launching regulated digital asset products.

Its portfolio includes the first physically backed crypto ETP, as well as spot Bitcoin and Ether ETFs in the US.

In Europe, the firm has built a suite of crypto ETPs spanning single-asset offerings like Solana (SOL) and Dogecoin (DOGE) to diversified baskets and staking-focused funds.

Hyperliquid’s rapid rise in DeFi

Hyperliquid launched in late 2022 as a layer-1 blockchain with a decentralized exchange specializing in perpetual futures.

Unlike many DeFi platforms that rely on automated market makers, Hyperliquid uses a traditional onchain order book to match buy and sell orders directly.

Trades are cleared in under a second without reliance on oracles or off-chain infrastructure.

The exchange’s fee structure funnels transaction costs into daily buybacks of its native HYPE token, supporting demand for the asset.

This model has helped fuel explosive growth across trading volumes, revenues, and user adoption.

In July, Hyperliquid processed $319 billion in trades—the highest monthly volume ever for a DeFi perpetuals platform.

That activity contributed to a total of nearly $487 billion in decentralized perpetual trading volume, according to DefiLlama.

The platform also captured 35% of all blockchain revenue that month, surpassing competitors on Solana, Ethereum, and BNB Chain.

Hyperliquid has since emerged as the seventh-largest derivatives exchange globally by daily trading activity, with more than 600,000 registered users as of July.

While a 37-minute outage on July 29 briefly disrupted trading, the protocol reimbursed $2 million in losses, winning support from its community for its quick response.

Balancing growth and market concerns

Despite its momentum, questions remain over market integrity.

On Wednesday, four large traders allegedly manipulated the market for Plasma’s XPL token, briefly driving its price 200% higher to $1.80 before smaller participants absorbed heavy losses.

The suspected manipulation generated $48 million in profits for the traders involved.

Still, optimism for Hyperliquid’s long-term trajectory remains strong.

At the WebX 2025 conference in Tokyo, BitMEX co-founder Arthur Hayes projected that the HYPE token could rise 126-fold over the next three years, citing the exchange’s robust fee revenue and the broader expansion of stablecoins.

As institutional-grade products such as the 21Shares Hyperliquid ETP launch, investor access to emerging DeFi infrastructure continues to expand.

While governance and market risks persist, Hyperliquid’s rapid ascent underscores the growing demand for decentralized derivatives and the financial instruments designed to track their performance.

The post 21Shares launches Hyperliquid ETP on Swiss Exchange amid surging DeFi volumes appeared first on CoinJournal.

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Ethereum ETFs log $4 Billion in August net inflows, outperforming Bitcoin counterparts

  • Ethereum ETFs log $4B August inflows, set for second-largest month since launch.
  • Bitcoin ETFs face $622M outflows in August, while Ethereum funds gain strong traction.
  • ETH ETFs narrow gap in trading volume, even as BTC funds hold lifetime inflow lead.

US spot Ethereum exchange-traded funds (ETFs) are poised to post around $4 billion in net inflows for August, marking their second-largest monthly tally since launching in July and underscoring a sustained period of outperformance against Bitcoin ETFs.

Data compiled by The Block highlights a notable shift in investor sentiment toward Ethereum products, even as Bitcoin ETFs continue to dominate in lifetime inflows.

Ethereum ETFs extend momentum over Bitcoin

The relative strength of Ethereum ETFs has been evident since mid-July, coinciding with a surge in ETH’s price that lifted the cryptocurrency from a year-to-date loss against Bitcoin to a 13.8% gain as of Friday.

From July 17 onward, Ethereum ETFs consistently outpaced Bitcoin products, outperforming them on all but seven trading days during that stretch.

Cumulative net inflows since mid-July stand at $7.1 billion for Ethereum ETFs, far eclipsing the $505 million registered by their Bitcoin counterparts over the same period.

In July, Bitcoin ETFs still held a slight edge, pulling in $6 billion versus Ethereum’s record $5.4 billion.

However, August has told a different story. Bitcoin ETFs are currently tracking net outflows of $622.5 million, while Ethereum ETFs are on pace for $4 billion in net inflows with just one trading day left in the month.

Over the past two months, Ethereum ETFs have attracted $9.5 billion in net inflows compared to $5.4 billion for Bitcoin products.

Despite this recent momentum, Bitcoin ETFs remain well ahead in lifetime cumulative inflows, securing $54.6 billion since launch compared to Ethereum’s $13.7 billion.

It is worth noting that Bitcoin ETFs began trading six months earlier, giving them a significant head start.

Daily inflow streak broken

Ethereum’s dominance in daily inflows came to a halt on Thursday after a seven-day winning streak.

Bitcoin ETFs registered $178.9 million in inflows on the day, led by Ark Invest’s ARKB with $79.8 million.

BlackRock’s IBIT, typically the largest Bitcoin ETF by flows, added $63.7 million.

Meanwhile, Ethereum ETFs collectively recorded $39.1 million in inflows, with BlackRock’s ETHA leading the pack at $67.6 million — the strongest daily performance among all Ethereum funds.

While Bitcoin ETFs continue to maintain a lead in daily trading volumes, Ethereum products have closed the gap significantly.

On Thursday, Bitcoin ETFs generated $2.5 billion in trading activity compared to $2 billion for Ethereum ETFs, reflecting growing market interest in the latter.

Market dynamics and outlook

Despite strong inflows, Bitcoin’s price remains range-bound near $111,000, said BRN Head of Research Timothy Misir in a report by The Block.

He noted that while ETF demand continues to absorb more than twice Bitcoin’s daily issuance, the lack of stronger spot market conviction is keeping price action relatively muted.

For Ethereum, short-term market pressures remain in focus. Misir pointed out that ETH’s slip below the $4,500 support level suggests potential weakness despite robust ETF inflows.

The contrasting flows highlight an evolving dynamic in the crypto ETF space.

Investors appear increasingly willing to allocate toward Ethereum as the asset gains traction in trading activity and fund flows, even though Bitcoin retains dominance in overall assets under management and trading liquidity.

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Numeraire price drops 25% as traders take profits

  • Numeraire token NMR is down 25% as profit taking increases.
  • The Numerai native token recently exploded amid a $500 million investment by JPMorgan.
  • NMR price could drop to $15 and face resistance around $18.

As top coins struggle with sell-off pressure, the price of Numeraire (NMR) has pared recent gains as it dropped 25% in the past 24 hours.

Like the rest of the cryptocurrency market that has witnessed meteoric gains in the past few days, NMR has dumped as traders lock in gains.

Numeraire price hovered around $16.36 at the time of writing, down as Bitcoin struggled and Ethereum dipped under $4,400.

The release of PCE inflation data on Friday, which showed prices rose in July compared to June and at highs seen in early 2025, pushed stocks down. Cryptocurrencies were slipping amid this overall outlook.

Numeraire price falls 25% amid profit-taking

Numeraire, the ERC-20 token powering Numerai’s AI-driven hedge fund platform, recently shot to highs above $22.80.

The token’s meteoric rise, which included a 150% spike in a week, benefited largely from news of a $500 million investment from JPMorgan Asset Management.

The institutional backing doubled Numerai’s assets under management to nearly $1 billion, boosting NMR’s profile and drawing significant trader interest. NMR price pushed from lows of $8.11  to a multi-month high of $22.87 across major exchanges.

Daily trading volume also peaked as bullish sentiment dominated.

However, traders keen to lock in profits have contributed to a 25% price drop, with sellers eyeing more below the $16 level. Notably, the reversal has coincided with a 64% decline in trading volume, now at $340 million.

This is positive for the token as selling pressure isn’t elevated, but also signals reduced market participation from buy the dip players.

What’s next for Numeraire price?

With NMR now trading at $16.36, technical indicators suggest a bearish setup that could lead to further declines.

The token has broken below the $18.60 upper Bollinger Band, and the Relative Strength Index (RSI) below the neutral line indicates  weakening momentum.

On the daily chart, NMR faces immediate support at $15, a level where the recent breakout candle formed.

If this support fails, the next key level is $14.57, with a deeper drop potentially testing $10.50, as forecasted by some analysts for September 2025.

Resistance is now at $18, with a stronger barrier at $20, a psychological level that aligns with late 2024 highs.

A break above $18 could signal a reversal, but the current bearish trend, coupled with declining volume, suggests caution.

The broader market sentiment and Numerai’s ability to leverage JPMorgan’s investment for sustained growth will be critical.

The post Numeraire price drops 25% as traders take profits appeared first on CoinJournal.

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South Korea cracks down on crypto scam after BTS star Jungkook hit in 39 billion hack

  • 258 victims’ personal data stolen from six public and financial portals.
  • BTS star Jungkook targeted with 8.4B won HYBE stock theft attempt.
  • 21.3B won in virtual assets stolen, 12.8B won recovered by police.

South Korean authorities have uncovered one of the country’s largest cyber fraud cases, dismantling an international hacking ring that stole nearly 39 billion won from high-profile victims.

The Seoul Metropolitan Police Agency confirmed that the group exploited weak security across government, IT, and financial platforms to steal data from 258 people, which was later used for large-scale SIM-swap fraud.

The suspects targeted wealthy business leaders, lawyers, athletes, crypto investors, and celebrities, including BTS member Jungkook, who narrowly avoided losing 8.4 billion won worth of HYBE stock.

Investigations revealed the cross-border scale of the operation, stretching from Seoul to Bangkok.

Hackers exploited data from 258 victims

Between July 2023 and April 2024, the ring infiltrated six public and financial portals with weak protections. The breaches exposed personal details such as resident registration numbers and financial verification data.

Police said 258 victims were affected, including 75 business executives, 11 lawyers and officials, 12 celebrities, six athletes, and 28 virtual asset investors.

Collectively, the group accessed accounts with combined holdings estimated at 55.22 trillion won, with some single accounts exceeding 12 trillion won.

To execute the fraud, the hackers created 118 mobile accounts under the names of 89 victims. These accounts were then used to bypass security checks and siphon money directly from bank and crypto wallets.

In total, 16 victims lost 39 billion won, while financial institutions managed to block a further 25 billion won in attempted thefts. The largest confirmed loss involved 21.3 billion won in virtual assets.

BTS star Jungkook targeted with 8.4 billion won attempt

The scheme gained widespread attention after police confirmed that BTS member Jungkook was one of the intended victims.

Hackers attempted to move 8.4 billion won worth of HYBE stock under his name, but the suspicious transaction was blocked before funds left the account.

Officials credited banks and agencies with flagging abnormal activity, preventing Jungkook’s potential losses. In total, police managed to recover 12.8 billion won through swift interventions, including freezing accounts and stopping withdrawals.

However, investigators highlighted that the case exposed a critical weakness in South Korea’s non-face-to-face authentication systems, which the group manipulated to carry out its operations.

Arrests across South Korea, China, and Thailand

The investigation began in September 2023, when unauthorised mobile phone activations were first reported to Namdaemun Police Station. Over the following months, 16 suspects were identified and detained.

The ringleaders, identified only as Mr. A (35) and Mr. B (40), moved frequently between China and Thailand. Both were eventually arrested in Bangkok in May after Seoul police collaborated with Thai authorities and Interpol.

Mr. A was extradited to South Korea on August 22 and faces 11 charges, including large-scale fraud and hacking, while Mr. B remains in custody in Thailand pending extradition.

Three suspects are still in detention in South Korea, while the rest face prosecution for fraud, hacking, and violating the Information and Communications Network Act.

Police noted that the outcome could have been far worse had the group been allowed to continue operations.

Crypto scams rising in South Korea

The case adds to a growing wave of cybercrime linked to cryptocurrency in South Korea. On May 15, Jeju police arrested 25 suspects for running fake investment schemes that defrauded 48 people of 734 million won.

In a separate incident, a police officer in Incheon was charged with embezzling 700 million won from investors in a bogus crypto project.

Meanwhile, Park “Jonbur Kim,” known as the “Coin King,” is on trial for manipulating the Artube coin, which caused investor losses of 68 billion won.

Authorities are also investigating large-scale money laundering. Prosecutors say unlicensed brokers funnelled 943.4 billion won through Neteller Pay between 2019 and 2024, earning 26 billion won in commissions.

Assets worth 4.4 billion won in Ethereum have since been seized from hidden wallets.

Cases have even extended into romance scams, with a man in his 50s losing 100 million won in July, and celebrity-linked fraud, with actress Hwang Jung-eum facing trial for embezzling 4.3 billion won from her agency for crypto purchases.

Despite these risks, South Korea remains one of the world’s most active crypto markets. Chainalysis data shows $130 billion in inflows in 2024, with over 10.8 million Koreans trading digital assets.

More than 10,000 investors hold balances above 1 billion won, especially among traders in their 20s. Regulators are now preparing to approve the nation’s first spot crypto ETFs and a won-pegged stablecoin, as major exchanges expand custody services to institutions.

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XRP price stalls under $3.00 as investor activity slows

  • The coin has failed to break past $3.00 for two consecutive weeks.
  • Capital outflows are outweighing inflows, weakening momentum.
  • A drop to $2.74 is likely if selling continues.

XRP is struggling to break through the $3.00 mark, with repeated attempts over the past two weeks falling short. The altcoin has been unable to sustain momentum, weighed down by weak investor support and shrinking inflows.

At the time of writing, XRP trades at $2.87, remaining below the $2.95 resistance zone. Market data shows reduced activity from both new and existing participants, leaving the cryptocurrency in a consolidation phase.

XRP price
Source: CoinMarketCap

With capital outflows overwhelming inflows, XRP’s price trend continues to depend heavily on investor sentiment and whether demand can rebound in the short term.

New addresses drop to two-month low

Network metrics highlight a key reason behind XRP’s stagnation. The number of new addresses created, tracked by first-time transactions, has dropped near a two-month low.

This decline indicates falling interest from fresh participants, limiting the inflow of new capital into the network.

Without new investors joining, XRP faces reduced demand pressure, making it harder to generate the buying volume needed for a sustained rally.

Existing holders have not provided enough momentum either, resulting in weaker overall support for the asset.

Capital outflows weigh on XRP

Broader capital trends underline the same weakness. The Chaikin Money Flow (CMF), which monitors inflows and outflows of capital, has fallen to a nine-month low.

This signals that selling activity is exceeding buying interest, a bearish indication for XRP’s short-term performance.

The shrinking capital pool highlights how outflows are amplifying the recent downtrend.

With reduced liquidity entering the market, XRP has struggled to establish firm support levels, leaving it vulnerable to further price drops.

Over the past fortnight, the coin has failed to hold gains above $2.95, signalling that sellers remain dominant. The weakness in volume reflects the lack of confidence that has plagued XRP’s attempts to stage a breakout since mid-August.

Trading patterns show limited upside moves being sold off quickly, reinforcing the difficulty of sustaining momentum and deepening investor caution.

Market watchers note that persistent selling pressure could delay any meaningful recovery attempts for weeks.

XRP price trend remains under pressure

Currently, XRP remains capped below the $2.95 resistance level. A continued lack of buying activity could push the price down toward $2.74, where consolidation is more likely.

On the other hand, if sentiment shifts and XRP reclaims $2.95 as support, it could attempt to retest higher thresholds.

Breaking past $3.07 and later $3.12 would provide confirmation of renewed bullish momentum, invalidating the present bearish thesis.

The coming sessions will be critical in determining whether investor confidence returns to provide the inflows needed for XRP to move past $3.00, or if the coin continues to trade under pressure from weak demand.

The data on addresses and capital flows suggests that until stronger participation emerges, XRP’s price will remain constrained within its current range.

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