Hyperliquid (HYPE) is currently available to purchase, sell, and store on digital assets platform Gemini via HyperEVM. As explained in the update from Gemini, Hyperliquid (HYPE) is an EVM native L1 blockchain and decentralized “everything exchange” launched back in 2023. It was reportedly designed for derivatives trading, enabling digital currency traders “to make leveraged bets on crypto prices.” This has now become a widely-adopted practice that can send the entire Bitcoin and crypto market swinging in extreme positive or negative directions (among other contributing factors).
As stated in a blog post by Gemini, the HYPE token had initially distributed on November 29th, 2024 through an airdrop “to early users of the protocol, with a significant portion directly dropped to the wallets of these users with zero lockup.”
Gemini also stated that the digital token can now “be staked within the Hyperliquid ecosystem, with rewards that may vary based on protocol parameters, or used to vote on HIPs (Hyperliquid Improvement Proposals).”
As mentioned in the update from Gemini, HYPE is also consumed “as gas on the HyperEVM network.”
In another significant update, it was noted that Gemini Predictions is now available to customers in the US via affiliate Gemini Titan after it “received a Designated Contract Market (DCM) license” from the U.S. Commodities Futures Trading Commission (CFTC).
Gemini Predictions now offers event contracts that are described as being a simple “yes or no questions on future events.”
For instance, “Will one bitcoin end this year higher than $200k?” Yes or no. Or, “Will Elon Musk’s X end up paying the full $140 million fine to the European Commission in 2026?” Yes or no.
Beginning now, Gemini customers in the US are able to “trade events contracts using USD in their Gemini Exchange account on web, iOS, and Android.”
At launch, customers will be able “to trade fee-free for a limited time.”
The move marks Gemini’s latest step in building their so-called one-stop super app where customers can “trade crypto, stake, earn crypto credit card rewards, stablecoin rewards.”
Gemini Predictions leverages the so-called “wisdom of the crowd and the power of markets to more accurately forecast the future.”
They reward prediction market participants for their “truthful insights and also help them to better prepare for the future by aggregating and disseminating correct information.”
The move into this nascent and burgeoning frontier continues Gemini’s march toward “building a one-stop financial super app for customers.”