This is an excerpt from CoinDesk newsletter ‘Daybook.’ Sign up here, if you haven’t already.
Bitcoin , ether (ETH), XRP (XRP), solana (SOL) and other top 10 coins have had a tough time lately, with each falling at least 2% in the past seven days. Still, there is always a bull market somewhere, and several crypto sub-sectors have chalked up impressive gains.
Coins associated with derivatives protocols, particularly those focused on perpetual futures such as HYPE and LIT, have surged by 40% or more.
HYPE has been rallying since Trade.xyz, a trading interface based on the Hyperliquid blockchain, listed the Space pre-IPO perpetual contract on Monday, valuing the company at $1.78 trillion. Trading volume on the contract topped…
