JPMorgan says HYPE market share may face pressure as competition intensifies

JPMorgan said Hyperliquid’s market share could come under pressure as U.S. regulated crypto perpetual futures trading platforms emerge and competition intensifies. In a recent report, JPMorgan said liquidity has recently been shifting to U.S. regulation-compliant platforms, while multiple rival platforms are also entering the market. The bank added that Hyperliquid expanded its scope in May by launching the prediction-market product Outcomes, but competition in that segment is also intense. JPMorgan also said net inflows into spot ETFs tied to HYPE, which showed gains in May and June, have stalled in July and August, adding that HYPE’s ability to maintain market share and sustain ETF inflows will help determine the token’s price going forward.