on-chain

According to CoinDesk, digital asset management company Grayscale pointed out in its latest report that the decentralized trading platform Hyperliquid is rapidly evolving from a cryptocurrency perpetual contract exchange into a blockchain financial infrastructure platform, and may even challenge traditional derivatives trading and exchange systems in the future, growing into a "financial services giant."The report shows that Hyperliquid is expected to achieve approximately $800 million in revenue by 2025, with an annual perpetual contract trading volume of about $2.9 trillion and an open interest size of around $7 billion, occupying a significant share of the cryptocurrency derivatives market. Grayscale believes that the platform is no longer limited to cryptocurrency trading but is expanding into tokenized stocks, commodities, and prediction markets through the HIP-3 and HIP-4 systems, gradually building an all-weather on-chain trading infrastructure.FalconX also pointed out in another report that Hyperliquid is competing with traditional derivatives exchanges such as CME Group and prediction market platforms like Kalshi and Polymarket, making progress in new markets such as Pre-IPO. The report also emphasizes that regulation remains a key variable. Although Hyperliquid currently restricts access for U.S. users, as the regulatory framework becomes clearer and institutions like Coinbase, Robinhood, and Kraken explore perpetual contract products, this sector may welcome broader growth opportunities in the future.

U.S. SEC Chairman Paul S. Atkins stated during a speech at the 2026 Reagan National Economic Forum that the U.S. Securities and Exchange Commission is advancing the "New Era of the SEC" regulatory reform, focusing on modernizing digital asset regulation, promoting the development of on-chain capital markets, and supporting the U.S. to become a "global crypto hub."Paul Atkins criticized the previous SEC's "regulatory hostility" towards the digital asset industry, stating that a large amount of crypto innovation was forced to move overseas as a result. He mentioned that with the support of the Trump administration, the SEC has launched "Project Crypto" and is collaborating with the U.S. Commodity Futures Trading Commission to promote on-chain market infrastructure and coordinate crypto regulation.The SEC has recently clarified which digital assets are considered securities and which are not, and is advancing an innovative exemption mechanism for "tokenized listed securities," while also studying how on-chain trading systems can fit within the existing regulatory framework.In addition, Paul Atkins emphasized that the SEC will reduce "over-disclosure" and regulatory burdens, promoting the "Make IPOs Great Again" reform, which includes lowering compliance costs for listed companies, increasing IPO flexibility, and formally proposing the repeal of climate disclosure rules introduced during the previous administration. The future of the U.S. capital markets should be built on a foundation of "free markets and innovation-driven" principles, and the role of regulatory agencies should be to provide clear rules and legal certainty, rather than suppressing technological development.

According to Cointelegraph, the parent company of the New York Stock Exchange, ICE, is calling on regulators to create a fair competitive environment that allows licensed institutions to launch around-the-clock on-chain perpetual contracts. ICE executives stated that platforms like Hyperliquid are already conducting related trades, while traditional institutions are unable to follow suit due to regulatory restrictions.ICE has begun discussions with Hyperliquid to explore the collaborative space between traditional finance and the cryptocurrency industry. In addition, ICE recently partnered with OKX to launch oil-related perpetual contracts and is working with institutions to build a blockchain securities trading system, fully laying out a 7×24 hour on-chain trading business.

According to on-chain monitoring data, in the past ten days, the Gate hot wallet has transferred out a total of over 453,486.74 HYPE, valued at approximately 25.18 million USD based on the price at the time of transfer.

According to official news, Gate DEX has launched a rookie exchange competition from May 26 at 19:00 to June 11 at 19:00. The event is aimed at new users who are using Gate Swap for the first time, fully supporting EVM-compatible networks and the Meme Go area. Any rookie who accumulates a trading volume of 500 USDT will be ranked based on trading volume and completion time to win 500 fixed bonus rewards: Top 1-10 will receive up to 40 USDT, and Top 11-500 will receive 1-10 USDT. Spots are limited and available on a first-come, first-served basis.The Gate DEX trading competition area, launching on December 23, 2025, is a fair and transparent trading arena designed specifically for on-chain users. Relying on the powerful aggregated liquidity of Gate Swap, it aims to provide users with a superior experience of low slippage and rapid transactions. Users can participate in designated currency trading with one click using the Gate DEX wallet, flexibly competing in three major event types: trading volume, yield, and newcomers. After the competition, bonuses will be automatically airdropped, and users can earn substantial token rewards based on their trading strength, fully enjoying the value-added pleasure of on-chain trading.

The Heima team has officially submitted an on-chain proposal to burn 16.5 million HEI tokens from the ecological allocation. This proposal has passed the council vote and will enter the community voting phase in two days, during which community members can participate directly in the voting.The Heima team stated that they will focus on transparency and continue to build long-term value for the ecosystem.

According to CoinDesk, the cryptocurrency exchange platform Kraken announced the launch of the Bitcoin Vault product, allowing users to maintain exposure to Bitcoin prices while earning BTC-denominated yields through DeFi strategies. This product is now available on Kraken Earn.Kraken stated that Bitcoin Vault is primarily aimed at long-term Bitcoin holders, enabling users to automatically participate in on-chain yield strategies through the platform without having to operate complex DeFi protocols themselves.

a16z crypto pointed out that not all tokenized assets are fully utilized on-chain. Bonds are currently the largest category of tokenized assets, with a market value of $15.2 billion, but only about 5% of the supply is used for DeFi; precious metals are similar, having been tokenized but mostly idle.In contrast, smaller categories perform differently: reinsurance tokens have 84% of their supply deployed in DeFi, while private credit stands at 33%. a16z believes this makes sense, as the categories with the highest DeFi usage were built for DeFi from the start, such as Nexus Mutual and Maple Finance.a16z noted that many practices currently referred to as tokenization are actually closer to digitization, meaning that records are moved onto the blockchain but do not unlock more new features, while one of the core value propositions of on-chain financial systems is composability.

AI predicts the market project NeoSoul collaborates with 0G to launch the prediction credentials on-chain identity credential campaign, with the first batch of credentials opening for minting on May 27. This campaign is aimed at NeoSoul and 0G ecosystem users, focusing on early identity verification, community participation, and on-chain interactions within 0G. Eligible users can obtain credentials minted through the 0G network as their early on-chain identity credentials.According to reports, NeoSoul has previously been conducting on-chain activities within the 0G ecosystem and has created over 100,000 Agents in total. This credentials campaign will set different levels of identity, and users can unlock corresponding credentials based on their task completion status. Specific rules can be found on the official website.It is reported that credential holders will have the opportunity to receive more ecosystem rewards and qualifications for future activities.

The BNB ecosystem decentralized derivatives trading platform StandX has revealed that it may conduct a TGE within the year.It is reported that based on the recently deployed SIP-2 and SIP-3 mechanisms, the protocol currently allocates part of the trading fees to position holders and DUSD holders, with the annualized yield (APY) of its stablecoin DUSD maintained at around 10%.In addition, following the launch of the Network Yield trading fee rebate feature, StandX announced that it will soon launch the on-chain options product SIP-4. According to the introduction, this product combines the Perps (perpetual contracts) framework and will provide users with features such as peer-to-peer covered calls.

According to on-chain analyst Ai Yi's monitoring, the ESPORTS on-chain has a price difference of up to 45% with Binance contracts, and the funding rate is negative. The current on-chain price is $0.04072, the current Binance contract price is $0.0492, with a price difference of 20.8%. The reason is as follows: Currently, Gate, Mxc, and Bitget have all suspended token deposits, leading to a price difference between on-chain and centralized exchanges that cannot be arbitraged.The Binance contract price index references Gate (10.52%), Mxc (15.78%), Bitget (15.78%), PancakeswapV3 (52.63%), and Binance contracts (5.26%). When the latest price of a certain price source deviates from the median price of other prices by more than 3%, the value of that price source will be adjusted to 1.03 or 0.97 times. Due to the prices of other centralized exchanges being significantly higher than on-chain due to the suspension of deposits, the Binance contract price is distorted.

The crypto market maker Keyrock, in collaboration with Coinbase, Tempo, and Virtuals Protocol, released the report "Who Pays the Agent?" which states that AI Agents are rapidly becoming important participants in the on-chain economy. Data shows that from May 2025 to April 2026, AI Agents have completed approximately 176 million on-chain transactions, with a total settlement amount exceeding $73 million. The report points out that the average payment amount per transaction for AI Agents is only between $0.31 and $0.48, indicating that a machine-native micropayment economy is forming. About 76% of the transaction amounts are below the Visa fixed fee threshold of $0.30, making it difficult for traditional bank cards and banking payment systems to adapt to the high-frequency, small, autonomous payment needs of AI.Data shows that 98.6% of AI Agent payments are settled in USDC. As of Q1 2026, more than 104,000 AI Agents have completed registration. The report states that on the Base network, the cost of a USDC transfer is about $0.0001, accounting for approximately 0.03% of the $0.31 transaction amount, which presents a significant cost advantage compared to traditional payment systems. The report believes that stablecoins are gradually becoming the "default currency infrastructure" for economic activities between AI and machines. However, Keyrock also warns that the current AI payment ecosystem's high dependence on USDC poses a centralization risk, meaning that the entire emerging AI payment system largely relies on the regulation and infrastructure stability of a single stablecoin issuer.In addition, several technology and payment companies have begun to lay out AI Agent payment infrastructure, including the x402 protocol launched by Coinbase, the Machine Payments Protocol (MPP) launched by Stripe and Tempo, Google's AP2 delegated payment system, and Visa's expanded tokenized payment voucher service. The report also points out that the current regulatory frameworks, including the European MiCA Act, the U.S. GENIUS Act, and the EU AI Act, still lack comprehensive regulatory standards for autonomous financial transactions and payment behaviors between machines.

BNB Chain today announced the launch of the Agent Survival Toolkit, in collaboration with six major AI infrastructure partners, empowering autonomous AI Agents with on-chain payment capabilities. All transactions are settled on BSC using BNB or BEP-20 tokens.The projects involved cover two levels: LLM access and financial infrastructure, including Alt AI, Pieverse, Bankr, WorldClaw, B.AI, and AEON, fully connecting the complete loop from AI Agent computing power invocation to on-chain settlement. Each participating project will also launch an on-chain incentive program without the need for additional registration.The Agent Survival Toolkit follows the release of the BNBAgent SDK, further enhancing BNB Chain's infrastructure layout in the AI Agent field. For more information, please visit www.bnbchain.org.Disclaimer: BNB Chain has no subordinate or operational relationship with any of the projects mentioned in this article. The Agent Survival Toolkit is an ecological plan showcasing independently built projects on BNB Chain. This content is for reference only and does not constitute any financial or investment advice. Please conduct independent research and assess potential risks before interacting with any related projects.

According to the official announcement, Binance has launched the DYOR Research Center, integrating on-chain data to provide transparent information for all users.DYOR now supports Binance Alpha tokens, and users can view market information, trading data, token unlocks, and project fundamentals on the spot trading page of the Binance App. It will gradually expand to more tokens in the future.

According to monitoring by Hyperinsight, the largest on-chain ETH bull "BIT associated whale" with a position of $252 million is still in a significant loss state. Over the weekend, the ETH price briefly retraced to around $2000, causing the whale's unrealized loss to expand to $27.2 million. As of the time of writing, due to a slight rebound in the market, the unrealized loss has narrowed to $19.3 million.Currently, this whale has diversified its position across four addresses on Hyperliquid, with a total long position of 120,000 ETH and an overall weighted leverage of about 18 times. Based on the weighted calculation of the capital proportion of each address, the average entry price is approximately $2270. It is reported that this address belongs to the digital financial services group BIT (formerly Matrixport), which has repeatedly received fund transfers from its own accounts and previously took long positions in ETH on a scale of hundreds of millions, with profits exceeding $50 million.