Decentralized exchange Hyperliquid has submitted formal comments to the US Commodity Futures Trading Commission (CFTC) in support of 24/7 perpetual derivatives trading. Hyperliquid, built on its layer-1 blockchain, announced the submission of two comment letters regarding this initiative. The company's remarks follow comments from CFTC Commissioner Summer Mersinger, who stated that perpetual crypto futures contracts can be offered in the market now and highlighted the importance of bringing such trading back onshore in the United States. Perpetual futures allow traders to speculate on crypto asset prices without owning the assets, maintaining alignment with spot market prices through a funding rate mechanism. The crypto derivatives sector has seen increased activity, including product launches and regulatory developments, with major exchanges like Coinbase and Gemini making significant moves in the space. Coinbase has recently acquired a crypto derivatives platform, indicating strong interest in expanding derivatives trading capabilities within the ecosystem.

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