Hyperliquid Token Hits $77 Record, Base Sets Beryl Upgrade, Senate Eyes Stablecoin Rules

Crypto News Hyperliquid’s HYPE token surged to a new all-time high near $77 over the past 24 hours, extending a roughly 46% weekly gain and a monthly advance exceeding 90%. On-chain data shows the rally was fueled by fresh institutional buying, with asset manager Bitwise acquiring an additional 77,097 HYPE worth roughly $5.18 million through prime broker FalconX. Hyperliquid routes 97% of trading fees into HYPE buybacks and burns, so rising platform volume directly tightens supply. The protocol’s perpetual-futures open-interest share climbed to about 8.3%, while a wave of short liquidations above $70 added further upward pressure as traders chased the breakout. Coinbase confirmed that its Layer-2 network Base will activate the Beryl hard fork on mainnet on June 26, following a Sepolia testnet deployment on June 19. The upgrade introduces B20, a Base-native ERC-20-compatible token standard built for stablecoins, real-world assets, and long-tail issuers, with embedded compliance features such as freeze-and-seize controls, role-based access, and supply caps. Beryl also shortens single-proof withdrawal finality from seven days to five and adopts Reth V2, expected to cut disk usage by 50% and lift throughput by 33%. The release deepens Base’s standing as a high-throughput appchain environment, alongside a new SEC-registered AI advisory tool. A bipartisan group of US senators, led by Cynthia Lummis, urged the Treasury to preserve state-level oversight of stablecoin issuers as it finalizes rules for the GENIUS Act. The law lets issuers with under $10 billion in market capitalization remain under state supervision if state frameworks closely mirror federal standards. By current sizing, only Tether, USDC, and USDS exceed that threshold, leaving most stablecoins eligible for state regulation. The lawmakers warned that Treasury’s draft fails to clarify certification timing, effectively limiting issuers to a single window. They called for a flexible, ongoing certification process that accommodates differing state legislative calendars. Worldcoin’s WLD token drew heavy speculative interest, ranking first by trading value on Korea’s won market amid elevated greed readings. The digital-identity altcoin changed hands around 1,030 won, up 1.48% on the day, after touching an intraday high of 1,086 won against a low of 1,002 won. Daily volume reached roughly 231.9 million WLD, equivalent to about 227.4 billion won. A long upper wick on the daily candle signaled short-term profit-taking and widening volatility. WLD shared the top of the greed rankings with Uniswap, both posting a fear-and-greed score of 93, underscoring how capital is concentrating selectively in a handful of names. Japan’s Supreme Court ruled for the first time that gains from converting one foreign currency into another are taxable, sharpening the treatment of cross-currency income. The Third Petty Bench upheld the tax authority’s assessment, rejecting a plaintiff who had deposited 10.5 billion yen with a Swiss bank in 2014 and argued profits were not realized until funds returned to yen. The court held that economic value crystallizes when one currency is exchanged for another, making the gain taxable at that point regardless of later swings. The decision tightens scrutiny on multi-currency portfolios and signals stricter oversight of overseas-asset holders. Hewlett Packard Enterprise unveiled a sweeping overhaul of its enterprise AI infrastructure, pitching an agentic enterprise stack that bundles networking, security, data management, and operations software. The company argued that competition has shifted from model performance to reliable infrastructure, governance, and recovery as autonomous agents enter live workflows. New Juniper QFX switches target AI inference clusters and aim to cut GPU idle time, while HPE Private Cloud AI now supports up to 256 GPUs for large-scale inference. The push mirrors the broader race to industrialize AI agents — the same automation logic now reshaping digital-asset markets through tools like the AI trading bot. Taken together, these developments trace a single arc: digital-asset infrastructure is maturing while regulators and markets recalibrate risk. COINOTAG’s proprietary aggregate data frames the caution — the Fear and Greed Index sits at 22, deep in Extreme Fear, even as Bitcoin dominance holds near 69.8% and total crypto market capitalization hovers around $1.89 trillion. That split explains the selective greed seen in names like HYPE and Worldcoin against a defensive macro backdrop reminiscent of a bear market posture. With Base hardening its Layer-2 economics and the GENIUS Act rules still pending, primary on-chain and legislative signals — not headline prices — will likely set the next leg.COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.