Hyperliquid Launches Spot Trading for 11 Tokenized Stocks【MEXC Alpha Trader – Daily Market Brief (October 26, 2026)】

I. Macro & Market Sentiment

· Market Data: BTC $79,621 (-1.47%) | ETH $2,311 (-2.14%) | SOL $100.92 (-1.41%)

· Market Sentiment: Funding Rate +0.0036% | Fear & Greed Index 50 (Neutral)

· Data Outlook: The Federal Reserve’s rate decision, GDP, and PCE data are all due Thursday, with a repricing of rate expectations potentially amplifying cross-market volatility. Read more

II. Trading Signals / Hot Topics

· [Today's Focus] Hyperliquid | 11 tokenized stock spot markets open, creating a new on-chain channel for equity assets.

· The on-chain derivatives liquidity platform will open 11 USDC-denominated markets at 21:30 on October 26, covering the S&P 500, Nasdaq 100, Nvidia, and other underlying assets.

· Takeaway: The tokens are debt instruments backed by actual shares rather than direct equity ownership; pricing efficiency will depend on the issuer’s redemption mechanism and the depth of on-chain liquidity.

· Read more: 1

· [Market Watch] ETH | Open interest contracts, reducing pressure from cascading liquidations.

· As a value layer for stablecoin and L2 settlement, ETH has declined by around 15% over the past three weeks; Binance open interest has fallen nearly 20% over one month to around $5.7 billion.

· Takeaway: Declining open interest reflects lower leverage in derivatives contracts, making price volatility less dependent on liquidation cascades. Its longer-term nature still requires validation from spot demand.

· Read more: 1

· [On-Chain] SOL | Validator deployment plan advances, extending ecosystem infrastructure regionally.

· As a proxy for high-frequency on-chain activity throughput, SOL will see Solana Company deploy local validator nodes through Pacific Backbone.

· Takeaway: Validator expansion improves network infrastructure and conditions for institutional access, but does not necessarily signal an immediate change in on-chain trading demand or SOL capital flows.

· Read more: 1

III. Regulation & Major Events

· United States | The CLARITY Act includes an annual fundraising cap reduced to $50 million and a lifetime limit of $200 million, though it still faces political divisions. Read more

· DeFi | Price manipulation attacks have reached 43 so far this year, with cumulative losses of around $199 million, surpassing the full-year record set in 2022. Read more

· Keystone | Unauthorized access to its official website exposed customer delivery information, while seed phrases, private keys, and wallet passwords were unaffected. Read more

IV. Platform-Exclusive Benefits

· Loss Compensation Campaign (Round 4) (Futures)

· Alpha Trader October Trading Competition (Futures)

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Recommended Reading: MEXC On-Chain Daily Report: Kalshi and Polymarket Crypto Event Contracts Hit Record $2.7 Billion in Weekly Trading Volume

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