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BlockBeats News, on April 29, Blockworks Research analyst Shaunda Devens published data on social media stating that in the first quarter of 2026, the cryptocurrency trading sector showed a clear cyclical downturn. A certain exchange's crypto revenue fell to $134 million (down 39.4% quarter-on-quarter), while Hyperliquid's crypto trading revenue dropped to $179.7 million (down 31.0% quarter-on-quarter). Nevertheless, Hyperliquid's crypto revenue remained higher than that of the unnamed exchange's crypto business line, and its RWA (real-world asset) revenue increased by 454.8% quarter-on-quarter. The number of users also grew by 29.6% quarter-on-quarter to 1.19 million, while the exchange’s client count grew by roughly 1.5%. The discount of HYPE compared to traditional finance peers is largely a pricing-in of the cyclical volatility of crypto-related cash flows. However, as RWA now accounts for over 30% of trading volume, HIP-4 has added binary outcomes (prediction markets), and in this slowdown cycle, revenue volatility is already roughly in line with the exchange, this discount appears increasingly unreasonable. Hyperliquid achieved protocol revenue of $192.3 million in the first quarter, while the exchange’s net profit was $346 million. HYPE’s circulating market cap is $9.5 billion, while HOOD’s trading market cap stands at $74 billion, making HYPE seem extremely cheap by comparison.

Odaily Seer channel monitoring shows that, in the Polymarket prediction event "League of Legends T1 vs. Nongshim Red Force," the account with a 53% win rate (address: 0x13414a77a4be48988851c73dfd824d0168e70853) purchased a total of $43,000 for T1 to win against Nongshim Red Force (NS), with an opening price of 75¢. This match will begin at 16:00 (GMT+8) on April 29. T1 and NS have faced each other officially in League of Legends about 26 times, with T1 taking a clear advantage with 21 wins and 5 losses, yielding a win rate of approximately 81%. Especially during the Faker era, T1 consistently managed to win most series against NS. Historically, T1 vs. NS are essentially "advantageous matches" for T1, although NS occasionally has the ability to upset T1. Currently, in the LCK regular season rankings, T1 is tied for third with Gen.G, while NS is in sixth place. Odaily Seer channel continues to monitor prediction markets—to see changes before they are priced in.

```htmlAccording to a report by Jinse Finance, on April 29, Laura Cooper of Nuveen stated that it would be prudent for the Federal Reserve to remain patient this week, as its policy is well-positioned. The global investment strategist noted that data from March showed resilience, with robust employment numbers, controlled inflation, and optimistic retail sales, indicating that US consumers have a buffer to absorb energy shocks. Cooper, who also serves as head of macro credit, said: "Financial conditions remain favorable, so the Federal Reserve's data-driven stance may remain unchanged." (Sina Finance)```