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BTC PERP exceeded $109 billion, touched $109,279! $BTC #BTC

Correct me if I’m wrong hl gang but aren’t the majority of BTC perp trades on hyperliquid made by external mms? These aren’t shitcoin positions like $JELLY shorts being propped up by HLP liquidity.

Correct me if I’m wrong hl gang but aren’t the vast majority of BTC perp trades on hyperliquid made by external mms at this point? These aren’t shitcoin positions like $JELLY shorts being propped up by HLP liquidity.

"SUI Surges Ahead: Is XRP Losing Its Institutional Edge?" SUI Outpaces XRP$XRP in Institutional Demand and Growth SUIUSDT Perp 3.867 +1.03% SUI has been making headlines with a strong price rally, recently outperforming XRP in both growth and investor interest. But it’s not just the price that’s catching attention. In May, institutional investors have started shifting focus toward SUI, a sign that this altcoin could have a more significant role in the broader crypto landscape. With over $21 million in institutional inflows so far this month, SUI ranks just behind Ethereum in terms of performance. In contrast, XRP has seen only $8.6 million in the same time frame. This change in sentiment marks a notable shift, as institutions begin prioritizing SUI’s long-term potential—particularly its focus on Web3—over XRP’s established presence. Unlike XRP, which remains largely centered on payments, SUI is built for scaling dApps and powering Web3 projects. That scalability is drawing institutions looking to invest in the future of blockchain beyond just transactions. SUI vs XRP: A Shift in Preference The growing institutional interest in SUI signals a broader market trend toward more utility-driven ecosystems. XRP still maintains a solid $263 million in institutional support for 2025, but it hasn't generated the same buzz recently. SUI’s infrastructure gives it a leg up when it comes to meeting future demands in decentralized finance and blockchain applications. XRP Gets Listed on CME, But SUI Holds Its Edge XRP Futures recently went live on the CME, giving it added visibility and accessibility. However, this also removes XRP’s "underdog" appeal, something SUI now capitalizes on. By remaining relatively undiscovered on major exchanges, SUI presents an opportunity for early institutional entry before broader exposure drives up its price. ETF Outlook: XRP Leads, But SUI Gains Ground XRP could still beat SUI to an ETF launch, thanks to its longer trading history and more advanced regulatory journey. If Ripple settles with the SEC, confidence in XRP could surge, improving its standing with traditional investors. However, right now, SUI’s growth and appeal in the Web3 space are winning over more institutional backers. Sentora’s Head of Research, Juan Pellicer, points out that XRP is further ahead in terms of ETF viability, while SUI still needs more liquidity and time in the market. XRP Price Analysis: Holding Back Under Resistance Despite a 14% gain in the past month, XRP continues to struggle against resistance in a weak macro environment. A breakthrough above $2.56 could shift momentum, but failure to do so risks a pullback to $2.12, undermining any short-term bullish hopes. SUI Price Analysis: Momentum Continues SUI has surged 82% over the last month, currently trading at $3.85. It’s facing resistance at $4.05 but remains bullish, as strong institutional interest supports its upward trajectory. A breakout above that level could see it climb to $4.35 or more. On the flip side, a dip below $3.59 might trigger profit-taking and lead to a drop toward $3.18. Still, given the current trend, SUI looks well-positioned for continued growth in the near term.

Shill me your favorite new perp dexes that haven't launched a token yet. I'm mildly farming Lighter (here's a ref link if you want to try it):