News Brief | According to data from its official website, Papertrade, a synthetic perpetuals protocol built on HyperEVM, has surpassed $1 trillion in cumulative notional trading volume. Its TVL is currently $61.8 million, with open interest at around $664 million;
Overall, the outlook is bearish. $BTC is currently at 81,759.23.
The news is already priced in, so the follow-up reaction is unlikely to be significant. How do you think large investors will respond?

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