coin-img-ETHETH-0.29%coin-img-SOLSOL-1.05%coin-img-BTCBTC-0.37%coin-img-USDCUSDC+0.00%coin-img-XRPXRP+0.52%coin-img-NEARNEAR+9.50%coin-img-DOGEDOGE+0.88%coin-img-TRXTRX-0.63%coin-img-ETHETH-0.29%coin-img-SOLSOL-1.05%coin-img-BTCBTC-0.37%coin-img-USDCUSDC+0.00%coin-img-XRPXRP+0.52%coin-img-NEARNEAR+9.50%coin-img-DOGEDOGE+0.88%coin-img-TRXTRX-0.63%coin-img-ETHETH-0.29%coin-img-SOLSOL-1.05%coin-img-BTCBTC-0.37%coin-img-USDCUSDC+0.00%coin-img-XRPXRP+0.52%coin-img-NEARNEAR+9.50%coin-img-DOGEDOGE+0.88%coin-img-TRXTRX-0.63%coin-img-ETHETH-0.29%coin-img-SOLSOL-1.05%coin-img-BTCBTC-0.37%coin-img-USDCUSDC+0.00%coin-img-XRPXRP+0.52%coin-img-NEARNEAR+9.50%coin-img-DOGEDOGE+0.88%coin-img-TRXTRX-0.63%

Papertrade Opens Synthetic Perpetual Trading at 22:00 UTC After $90M in Predeposits

AI Market Summary
Papertrade, a HyperEVM synthetic perpetual protocol using Hyperliquid BBO midprice data, opens trading after drawing over $90 million in predeposits from 7,280 addresses. The large deposit base signals strong demand for Hyperliquid ecosystem infrastructure, while PAPER's zero-premine, staking-only design may intensify attention on HYPE-related onchain trading activity and liquidity dynamics.
Impact level
● Medium
Affected assets
HYPE/USDT-2.39%
AI Insight · HYPE/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Papertrade, a HyperEVM-based synthetic perpetual protocol, is scheduled to open trading at 22:00 UTC after receiving more than $90 million in predeposits from 7,280 addresses. Deposits paused at 13:45 UTC. The platform uses Hyperliquid order book BBO midprices and lets users trade against protocol liquidity providers. Its PAPER token has zero initial supply and is minted only through user losses or liquidations.
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