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Hyperliquid has been impossible to ignore lately. HYPE has climbed nearly 4x off its all-time lows and emerged as the best-performing token in the top 100 over the past month — up over 110%. Ecosystem metrics tell an even more compelling story: Hyperliquid now commands 70% of all DeFi perps volumes, amounting to $1.5T in total volume, with ecosystem TVL hitting $1.4B — up over 100% just this month. Amid the breakneck growth, Hyperliquid has seemingly been on a world tour — it's everywhere you look across Twitter, shilled on national TV, profiled by Bloomberg, and at the center of policy conversations. In other words, the momentum has picked up significantly for Hyperliquid since we last covered it in January, just weeks before the HyperEVM went live.
2️⃣ Deutsche Bank Launching an L2 Deutsche Bank has taken its next step into blockchain with the launch of Project Dama 2, an L2 built on ZKsync. Developed in collaboration with Memento Blockchain and Interop Labs, Dama 2 uses ZKsync for enhanced scalability and privacy, while Axelar ensures interoperability with Ethereum and other chains. Dama 2 is part of Singapore’s Project Guardian, a multi-institutional initiative exploring asset tokenization in regulated financial markets. Deutsche Bank plans to launch a minimum viable product next year, pending regulatory approval, of course.
In many ways, 2024 sold the story of bitcoin's value to the world as the asset surpassed $100K and launched an epic revenge run. This year in crypto wasn't just about BTC though; 2024 was a huge year for both the Solana and Ethereum communities. And while, as always, there was a decent amount of infighting between the two premiere smart contract platforms at various points, this was a year that showcased the distinct strengths of each community in building experiences that ultimately brought more attention to the crypto space while setting up the industry for a legendary 2025.
5️⃣ Pump.fun Suspends Livestreams Pump.fun indefinitely suspended its livestreaming feature this week following alarming behavior on its platform. “Devs” had increasingly turned to broadcasting shocking acts to boost token prices, prompting widespread backlash and calls for stronger moderation. This heat has likely contributed partly to the rotation towards Base. With a token launch on the horizon, it will be interesting to see if Pump.fun ties platform moderation into the token’s utility..