Hyperliquid emerging as new tool for valuing unlisted stocks

Hyperliquid's (HYPE) perpetual futures platform, TradeXYZ, is emerging as a new way to value unlisted companies after listing pre-market perpetuals for Cerebras Systems (CBRS) and SpaceX (SPCX), The Block reported. The analysis highlighted that during the Cerebras listing, Hyperliquid's pricing closely mirrored the real-time opening price, expanding investment opportunities for retail investors. Amir Hajian, a researcher at Keyrock, commented that perpetual futures markets could solve the low liquidity and leverage trading issues that have been problematic for unlisted stock trading. However, concerns persist regarding potential price manipulation and regulatory risks associated with derivatives, as they do not grant actual stock ownership. TradeXYZ currently records a daily trading volume of $6 billion within the Hyperliquid ecosystem.