According to @MRRydon, $ATH officially went live last week on Orderly Network, described as the first orderbook‑integrated DEX built to support DePIN tokens powering real AI compute, enabling on-chain orderbook execution for the asset (source: @MRRydon). The integration makes $ATH instantly tradeable across 22+ CEXes, DEXes, aggregators, and wallets within the Orderly Network ecosystem, including QuickswapDEX, LogX_trade, and WOOFi (source: @MRRydon). This rollout expands market access and liquidity for $ATH and is intended to unlock deeper participation, tighter spreads, and a more efficient trading environment for both institutional and retail participants (source: @MRRydon).

According to @MilkRoadDaily, HYPE captured 37% of all protocol revenue distributed to token holders last week, with fees sourced from Hyperliquid’s orderbook exchange activity (source: @MilkRoadDaily on X, Aug 21, 2025). According to @MilkRoadDaily, Hyperliquid is generating CEX-level trading volume and routing fees directly to HYPE stakers, supporting real-yield distributions that are sensitive to exchange volume and fee flow (source: @MilkRoadDaily on X, Aug 21, 2025). Based on the mechanism described by @MilkRoadDaily, traders should monitor Hyperliquid trading volumes, fee rates, and weekly distribution data as leading indicators for HYPE staking returns and potential token demand (source: @MilkRoadDaily on X, Aug 21, 2025).