Updated: August 24, 2026, 09:30 (UTC+8) | Author: MEXC Headlines FASB rules could accelerate institutional USDC adoption Kraken may be testing Hyperliquid HIP-3 South Korea plans to open cryptoUpdated: August 24, 2026, 09:30 (UTC+8) | Author: MEXC Headlines FASB rules could accelerate institutional USDC adoption Kraken may be testing Hyperliquid HIP-3 South Korea plans to open crypto
MEXC On-Chain Daily Report: Hyperliquid’s Share of Global Perpetual Open Interest Reaches 10.2%
Updated: August 24, 2026, 09:30 (UTC+8) | Author: MEXC
Headlines
- FASB rules could accelerate institutional USDC adoption
- Kraken may be testing Hyperliquid HIP-3
- South Korea plans to open crypto accounts to 3,500 companies
- South Korea deploys AI to monitor crypto market manipulation
- Anthropic targets a $2 trillion IPO valuation
Industry Updates
Hyperliquid Policy Center: Perpetual Futures Can Complement Traditional Futures Without Weakening Benchmark Markets
According to the Hyperliquid Policy Center, its research analyzed 205 Bitcoin trading weekends and 19 weekend samples involving on-chain WTI crude oil perpetual contracts. The findings indicate that perpetual futures can eliminate the rollover costs associated with expiring contracts, serve smaller trades that traditional markets may not efficiently accommodate, and continue providing price discovery and risk-management functions while benchmark markets are closed. The median on-chain oil perpetual trade was approximately $1,300, around 1/100 the size of a traditional WTI futures trade. The study found no statistical evidence that perpetual markets weaken benchmark markets, while spreads at the reopening of WTI futures markets narrowed.
Vitalik Publishes “Local Mixing” Cryptography Research, Exploring a Potential New Foundational Primitive
According to Vitalik Buterin’s article “Obfuscation (Part 3): Local Mixing,” the proposed technique uses steps including reversibility, hardening, mixing, splitting, crossing walks, and gadgetization to conceal the original computational logic of a circuit while preserving its functionality. Unlike other approaches, the method does not rely on elliptic curves, integer factorization, or lattice-based cryptography and aims to reduce the computational cost of indistinguishability obfuscation. Vitalik emphasized that the technology remains at an early stage and requires years of cryptanalysis and optimization. If successful, it could support quantum-resistant public-key encryption and general-purpose cryptographic infrastructure.
Hyperliquid Accounts for More Than 10% of Global Perpetual Futures Open Interest
According to Odaily, Hyperliquid currently accounts for 10.2% of the global perpetual futures market based on open interest. The calculation includes centralized platforms such as Binance, Bybit, and OKX and is only slightly below Hyperliquid’s record share of 10.4% set at the end of July. The figure indicates that Hyperliquid’s on-chain derivatives business is approaching the scale of leading centralized platforms while maintaining more than one-tenth of global perpetual futures open interest. HYPE was trading at $77.79, up 2.25% over 24 hours, as the market continued to monitor developments involving HIP-3 and institutional compliance infrastructure.
Sui Announces Upcoming Hashi Mainnet Launch After Testnet Deposits Exceed 2 Million
According to Sui, Hashi testnet deposits have exceeded 2 million, and the mainnet is expected to launch soon. Hashi is designed to allow native Bitcoin to remain on the Bitcoin network while becoming programmable collateral within the Sui ecosystem, reducing the risks associated with wrapping BTC across chains or transferring custody to third parties. Following its mainnet launch, Hashi could expand Bitcoin’s use in lending, liquidity, and collateral applications on Sui. However, Sui has not yet disclosed the precise launch date, the initial range of supported protocols, or the mainnet’s early-stage risk parameters.
Solana Reduces Network Slot Time to 350 Milliseconds for the First Time, Targeting 200 Milliseconds
According to Cointelegraph, Solana has reduced its network slot time to 350 milliseconds, marking the first such adjustment since the network launched. The current average slot time is approximately 360 milliseconds. Solana Foundation Vice President of Technology Jacob Creech said the next target is 300 milliseconds, with the longer-term goal of reducing slot time from the original 400 milliseconds to 200 milliseconds. The upgrade will be implemented on the mainnet in four stages through the Agave v4.2 validator client developed by Anza, although no schedule has been confirmed for the remaining stages. Proposal SIMD-0525 was approved and merged on May 14.
SEC Proposes Reg Crypto, Creating Legal Pathways for Certain Token Offerings and the Termination of Investment Contracts
According to a post on X by Galaxy’s Head of Research, the U.S. Securities and Exchange Commission has proposed Reg Crypto, establishing issuance and exit pathways for crypto assets that are not securities themselves but were previously offered as part of an investment contract. The proposal includes four stages covering fundraising, disclosure, development, and exit. It offers a startup exemption allowing issuers to raise up to $5 million over four years and higher-tier exemptions allowing issuers to raise $20 million or $75 million within 12 months. Issuers must disclose supply and unlock schedules, governance permissions, source code, and development progress. Once development obligations are fulfilled or permanently discontinued and a transition report is filed, the investment contract may be considered terminated.
Crypto Council for Innovation and Blockchain Association Sue Illinois Over 0.2% Digital Asset Transaction Tax
According to Odaily, the Crypto Council for Innovation and the Blockchain Association have filed a lawsuit in Sangamon County, Illinois, challenging the state’s newly enacted digital asset tax. The law requires companies that facilitate or store cryptocurrency transactions for Illinois customers and earn more than $100,000 in gross revenue to pay a tax equal to 0.2% of transaction value. The tax is expected to generate approximately $60 million for the state budget. The plaintiffs argue that it violates the U.S. Constitution, the Illinois Constitution, and the Internet Tax Freedom Act. Critics note that the tax is calculated on transaction value rather than profit, meaning it may still apply when users incur trading losses.
BitMart Announces Potential Restructuring and Business Recovery Plan, With Further Update Due by September 9
According to BitMart, the company is developing a potential restructuring plan as an alternative to a full business liquidation. The proposal may include the orderly, phased restoration of certain operations and asset distributions to creditors, although it remains subject to legal, financial, operational, and compliance assessments. BitMart has appointed White & Case as restructuring legal counsel and is working with other professional advisers to develop a recovery roadmap. The company plans to provide another update no later than September 9, 2026, and consult the community after a formal recovery plan is prepared. No specific recovery schedule or asset distribution arrangements have been announced.
MEXC Market Heatmap
Data Note: Based on real-time MEXC market data recorded before 09:30 (UTC+8). Figures may subsequently change with market fluctuations.
New Listing Announcement: TMX/USDT, listing time: August 25, 2026, 18:00:00 (UTC+8)
On-Chain Calendar
High-Risk Token Unlocks
- H/USDT [08-24 10:00] — 39.36M USDT unlock, representing 14.26% of circulating supply; high short-term selling pressure
- XPL/USDT [08-26 04:00] — 6.66M USDT unlock, representing 3.3% of circulating supply; moderate short-term selling pressure
- ALT/USDT [08-26 21:00] — 1.43M USDT unlock, representing 3.48% of circulating supply; moderate short-term selling pressure
Key Macro Events
- Aug 24, 11:00 — Indonesia | Bank Indonesia | M2 money supply [Money supply growth affects domestic liquidity and regional risk appetite]
- Aug 24, 19:30 — Brazil | Central Bank of Brazil | Focus Market Readout [Inflation and interest-rate expectations affect the Brazilian real and capital allocation]
- Aug 24, 20:00 — Mexico | National Institute of Statistics and Geography | Mid-month inflation data [Inflation changes affect Mexican rate expectations and the peso]
Security Alert
BitMart is currently evaluating a potential restructuring and the phased restoration of certain business operations. Attackers may exploit users’ concerns about asset recovery by impersonating official customer support agents, lawyers, or claims-registration personnel. They may distribute fraudulent withdrawal channels, asset recovery forms, or compensation-token links through private messages to steal account passwords, verification codes, seed phrases, or so-called “unfreezing fees.” BitMart said it will provide a further update through official channels no later than September 9. Users should rely only on the official website, official app, and verified social media accounts. Do not open recovery links sent through private messages or transfer deposits and processing fees to unfamiliar addresses. Official representatives will never request private keys or seed phrases.
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