News

BlockBeats News, June 1, Hyperliquid's native token HYPE has risen by over 30% in the past five days, with its price once surpassing $74 and reaching a new all-time high. Analysis points out that HYPE has broken out of the classic Bull Pennant pattern, with an upward target possibly aiming at $105, leaving about 45% upside from the current price. From a technical perspective, after a rapid surge in late May, HYPE formed a flagpole structure, then consolidated within a triangle range to build momentum, and recently broke out above the upper trendline on high volume. According to Bull Pennant pattern projections, the theoretical target price is around $105.3, which is expected to be reached between June and July. Derivatives market data also sends bullish signals. Data shows that Hyperliquid's open interest has soared to a record $3.5 billion, up sharply from about $1.4 billion at the beginning of the year. At the same time, the funding rate has remained positive, indicating the market is overall still dominated by bullish sentiment. Since May 20, cumulative short liquidations on HYPE have reached about $126 million, significantly higher than the $68.85 million long liquidations, showing a clear "short squeeze" effect amid the price rise. If the rally continues, it may further prompt short covering and accelerate price gains. On the fundamentals side, according to DefiLlama data, Hyperliquid's application revenue in the past 30 days reached $57.9 million, surpassing Ethereum and making it the second largest blockchain by revenue after Solana. Its protocol uses 99% of fee revenue for the "Assistance Fund" to buy back HYPE on the open market, which is regarded as a key mechanism supporting token value. In addition, the US Commodity Futures Trading Commission (CFTC) recently publicly acknowledged the role of perpetual contracts in price discovery and risk management, creating a positive outlook for Hyperliquid, whose core business revolves around perpetual contract trading. Meanwhile, since launching on May 12, the HYPE ETF introduced in the US market has attracted a net inflow of approximately $122 million, indicating growing institutional demand for HYPE exposure.

Glonghui June 1st｜FedEx Freight suspended trading after falling 9.58%. Previously, FedEx completed the spin-off of FedEx Freight and began trading on the New York Stock Exchange.

Foresight News reports that the Zcash Foundation has released Zebra version 4.5.1, addressing a critical consensus security vulnerability (GHSA-2prc-cj5x-4443). All node operators are strongly advised to upgrade immediately. This vulnerability stems from an incomplete fix for the P2SH Sigop counting issue in the previous version (4.5.0), which still poses a risk of consensus fork. Currently, there are no known workarounds; upgrading is the only solution.