HODL Protocol

Great article. At HODL, we built infrastructure on Hyperliquid because we believe it is the house of on-chain finance and strategies: continuous markets, deep liquidity, transparent rules, and open access. hyperliquid:native @HyperliquidX

Weekly HODL May 21 $BTC $77.714 (-4.1% 7d) $ETH $2.136 (-6.0% 7d) $SOL $87.10 (-5.3% 7d) $HYPE $57.60 (+24.0% 7d) Stablecoins mcap $322.94B (+0.15% 7d) DeFi TVL $83.278B HYPE led the week, breaking to new all-time highs while the rest of crypto had weaker price action. The move was supported by growing traction around perp-native venues, ETF access, and the broader debate over whether platforms like Hyperliquid are becoming large enough to require regulated-market oversight. That debate became part of the story. CME and ICE reportedly pushed U.S. regulators to scrutinize Hyperliquid over manipulation and sanctions-risk concerns, especially around 24/7 commodity-linked perps. Rather than killing the narrative, it reinforced the point that onchain perps are now big enough for legacy exchanges to pay attention. The biggest product catalyst was the expansion of pre-IPO perps. SpaceX perps launched near a $1.78T valuation, bringing private-market exposure onchain, while Binance joining the race validated the category further. Together, Hyperliquid and Binance turned synthetic pre-IPO exposure into one of the week’s clearest market-structure stories. BTC, by contrast, had a slower and slightly weaker week. Price action stalled around $77K–$78K, with no clean breakout and momentum capped by ETF outflows, macro pressure, and lower risk appetite. At the same time, BTC implied volatility compressed into the high-30s / low-40s, near 2026 lows, suggesting the options market was pricing calmer near-term moves despite spot looking fragile. Outside of price, tokenized equities stayed in focus after reports that the SEC is preparing an exemption for tokenized stock trading on crypto platforms. Overall, the week’s main signal was not broad crypto strength, but a sharper shift in market structure: perps, tokenized stocks, and private-market exposure continue moving deeper onto crypto rails.

BTC Momentum Snapshot 2026-05-19 (UTC Close) BTC: $76.799 BTC Momentum: $110.037 Source: hodlprotocol.io

This week, the HODL Markets team will be at Consensus 2026 Miami and attending multiple side events.🌴😎 Reach out if you’ll be there and want to connect.

Great insight. Steady growth beyond the first obvious categories. What started with the most familiar use cases is now expanding into more specific exposures and new market structures.

BTC Momentum Snapshot 2026-04-07 (UTC Close) BTC: $68.843 BTC Momentum: $106.942 Source: hodlprotocol.io

RWA adoption is moving onchain one asset class at a time. The next step is bringing these kinds of managers and sophisticated investment strategies into onchain markets. Tokenized access to investment infrastructure. That is the direction we are pushing toward. 🫡

BTC Momentum Snapshot 2026-03-17 (UTC Close) BTC: $73.872 BTC Momentum: $114.891 Source: hodlprotocol.io

Good question. Maybe the better answer is: not enough people are paying attention yet…

BTC Momentum Snapshot 2026-03-03 (UTC Close) BTC: $68.295 BTC Momentum: $112.965 Source: hodlprotocol.io

"Performance data suggests hedge funds have weathered the downturn better than spot markets" hedgeweek.com/crypto-hedge-f…

Adoption of onchain infrastructure is the future of capital markets. As tokenized markets scale, fund managers will consolidate trading into always-on onchain venues. Crypto becomes the trading layer for FX, tokenized equities, rates, credit, and everything in between.

Weekly HODL February 27 $BTC $67,786 (+0.7% 7d) $ETH $2,044 (+4.7% 7d) $SOL $87.72 (+5.7% 7d) Stablecoins mcap $309.44B (+0.34% 7d) DeFi TVL $95.44B Slow week for headline prices, with BTC largely stuck in a range even after testing ~$70K and failing to break out. Under the surface, flows and breadth improved: spot BTC ETF flows flipped back positive over multiple sessions, and rotation broadened into large-cap alts, with ETH and higher beta names (DOT, UNI, SOL, AVAX) outperforming while BTC chopped. Derivatives stayed defensive. The $40K BTC put climbed into a top open-interest strike (~$490M notional) into expiry, showing the market still paying for downside protection even as spot stabilized. Macro risk sentiment was shaped by equities: a tech-led selloff tied to AI disruption / AI spending fears weighed on risk assets, while the broader “AI transition” narrative continued to show up through ongoing corporate layoff headlines.

BTC Momentum Snapshot 2026-02-24 (UTC Close) BTC: $64.031 BTC Momentum: $112.965 Source: hodlprotocol.io

The game keeps changing. Last year, Citadel wrote a letter to the SEC arguing against broad regulatory exemptions for DeFi and tokenized equity markets. Crypto is becoming a more institutional and competitive market, and Citadel hiring for this role is another sign more TradFi firms are moving in.

Aggregate Bitcoin ETF allocations among the largest hedge fund holders fell 28% from the third to the fourth quarter of 2025 finance.yahoo.com/news/hedge…

BTC Momentum Snapshot 2026-02-11 (UTC Close) BTC: $67.054 BTC Momentum: $112.965 Source: hodlprotocol.io

Legendary hedge fund manager Jim Simons on markets: "The price is always right" is NOT true!

This week, we are in Hong Kong 🇭🇰 for Consensus! Focused on how technology can accelerate tokenization and expand participation in financial markets.

What it feels like introducing hedge fund strategies to DeFi: