Coinbase’s new perps come for Hyperliquid’s crown – ‘Net bearish for HYPE’

• Analysts remained divided into the impact of competition on the perps market on hyps.
• However, short-term caution was obvious and the hype could fluctuate between $ 30-40.

Hyperliquid’s [HYPE] Remarkable growth could face headwinds in the summer from the incoming competition at the crypt market markets.

During Q2 recovery, hyperliquid activity sharp and picked up the hype by 183%, eclipse even Bitcoins [BTC] 30%.

However, this momentum may face fresh turbulence like coinbase revealed Futures Perpepetuals scheduled for July 21st. In fact, it directly focuses on the sector of the derivatives in which it is currently doing.

“You asked for it, we built it ”

COINBASE CEO Brian Armstrong tweet He repeated the big jump of the stock exchange.

The exchange will offer nano bitcoins (0.01 BTC) and nano Ethereum [ETH] (0.10 ETH) Futurus Perpetial, which are fully compatible with CFTC and are designed to close a long -term home gap in access to crypto derivatives.

Contracts will not have fixed expirations, but will include hourly financing and long -term rates.

This movement challenges the dominance of the sea and exerts pressure on hyperliquide, which is now aimed at replicating-leggal.

Do Coinbase eat lunch hyperliquid?

Hyperliquide Dex debuted last year, but already commands $ 2.78 billion in the open interest of BTC (OI). This is the fourth largest after binance, Bybet and OKX.

But Coinbase’s move caused a mixed view for Moat Dex. According to Messari analyst Troy Harris,

“Coinbase Perps is clean for hyperliquide.

The founder of Bitmex, Arthur Hayes, also had similar reservations. In recent interview Hayes said The fact that about 30,000 hyperliquide users could opt for “easier” alternatives to Coinbase or Robinhood.

Others, however, argued that perps coinbase traders would eventually migrate to hyperliquide and quote low fees and non-kyc.

Whales are watching and not expecting

Despite mixed interest, the interest of the whale whale was still solid. Two institutional whales, Galaxy Digital and Manifold Trading, stored Almost $ 50 million and started buying hype.

While the lasting interest of the great players could devote itself well to the prospects of hype prices, the market was somewhat cautious in the short term.

Data Santiment confirmed from 20 June a negative to neutral weighted sentiment for the hype. Even with the accumulation of the whale, the wider confidence in the retail remains fragile.

Meanwhile, as key liquidity magnets, the 7 -day thermal map Liquidation Coinglass’ 7 -day liquidation thermal map of $ 33, $ 35 and $ 39.6.

The current price event sat near both ends of the spectrum of liquidity and left the hype exposed to dragging between the war between the power of the whale and the hesitation of the market.