Other▼ Bearish

New ANT contract on Hyperliquid drops 20% in first hour with no shares behind it

TradingGain Newsroom·1h ago·31 Oct 2026, 16:00 UTC

Trade.xyz launched a new ANT contract on Hyperliquid, which fell about 20% in its first hour of trading. The contract is tied to Anthropic's IPO, but no actual shares back it, and U.S. traders cannot access it. Traders should be cautious, since the price is driven by bets rather than by a share of the company.

HYPEAt the time of writing, Hyperliquid traded at $87.59 (-4.59% in 24h).Live price →

Why it matters

The ANT contract is a leveraged bet on Anthropic's IPO, not an actual share.
Nothing backs the contract, so its price may be more volatile and harder to value.
U.S. traders are locked out, which limits the buyers in this market.

What to watch next

Watch how the ANT contract trades in the coming sessions and whether any official Anthropic IPO news moves its price.

HYPELive chartOpen full chart →

This brief is written by TradingGain from public reporting by CoinDesk.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.