Pantera Capital says perpetual futures and Hyperliquid’s blockchain infrastructure are moving toward traditional asset classes with around-the-clock trading. The development highlights how onchain markets could become a more direct challenge to established Wall Street trading venues.
Pantera Capital says perpetual futures and Hyperliquid’s blockchain infrastructure are moving toward traditional asset classes with around-the-clock trading. The development highlights how onchain markets could become a more direct challenge to established Wall Street trading venues.
Pantera Capital says perpetual futures and Hyperliquid’s blockchain infrastructure are expanding into traditional asset classes, bringing the crypto-native model of continuous trading closer to markets historically dominated by traditional finance.
Pantera Capital says perpetual futures and Hyperliquid’s blockchain infrastructure are expanding into traditional asset classes, bringing the crypto-native model of continuous trading closer to markets historically dominated by traditional finance.
The development matters because perpetual futures have become one of crypto’s most active trading formats, and extending that infrastructure to traditional assets could reshape how some market participants think about access, settlement and trading hours. Pantera’s view frames Hyperliquid as part of a broader push to make onchain venues compete with established financial-market infrastructure.
Hyperliquid is built around blockchain-based trading infrastructure, with perpetual futures at the center of its market design. Unlike conventional futures contracts, perpetual futures do not have a fixed expiry date, making them a popular instrument in crypto derivatives markets.
The key distinction highlighted by Pantera is availability: onchain systems can support trading around the clock, while many traditional markets still operate within set sessions. If that model extends further into traditional asset classes, it could increase pressure on incumbent venues to adapt to investor demand for broader access.
The shift remains a development to watch rather than a guaranteed replacement of Wall Street systems. But Pantera’s assessment underscores a growing theme in crypto markets: infrastructure first built for digital assets is increasingly being positioned for use beyond crypto-native trading.
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