Jul 10, 06:15 AM

Crypto Token $PUMP Launches Perpetual Futures on Hyperliquid With Up to 3x Leverage, $20.98M Volume, and 1764% Funding Rate

The cryptocurrency token $PUMP has recently launched perpetual futures trading on the Hyperliquid exchange, offering up to 3x leverage before its availability on other platforms. Trading activity commenced with a peak price of $0.015, subsequently dropping to $0.0053, which remains above the initial public sale price of $0.004. Within the first hour, the trading volume reached $20.98 million, with open interest at $10.37 million and a funding rate of approximately 0.2433%, equating to nearly 6% daily from longs to shorts. Notably, an annualized funding rate of 1764% was also reported. Additionally, whale activity includes a withdrawal of 25,567 ETH (approximately $70.66 million) from Kraken and two wallets depositing $7 million USDC into Hyperliquid to short $PUMP with 1x leverage. The token $PUMP is now also listed on all Symmio frontends, enabling broader trading access. Market valuation for $PUMP is estimated at $5.2 billion pre-market.

#Hyperliquid #Kraken #Symmio

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