On-chain U.S. equity perpetuals: HTX Research’s market shift
On-chain U.S. equity perpetuals are gaining attention as crypto traders test pre-IPO perps, stablecoin margin and on-chain price discovery.
➤ HTX Research proposes that on-chain U.S. equity perpetuals, particularly for pre-IPO and AI-linked stocks, represent the next major opportunity in crypto trading, shifting focus from speculative tokens to fundamental assets. ➤ This trend leverages existing crypto trading infrastructure like perpetual futures and stablecoin margins, offering crypto users a familiar trading format for U.S. equities, distinct from traditional brokerage ownership. ➤ Platforms like TradeXYZ, Ostium, and Lighter are developing various models for on-chain equity trading, with Cerebras Systems cited as a key example demonstrating on-chain price discovery ahead of traditional IPOs.