Ventuals exit shuts two high-profile AI markets on Hyperliquid

Ventuals is winding down and on Monday closed its OPENAI and ANTHROPIC perpetual markets on Hyperliquid. The team froze market marks at their 24-hour averages, set funding rates to zero and automatically settled all open positions.

OPENAI settled at $1,341.80 and ANTHROPIC at $1,618.90, figures expressed by the contracts as implied company valuations of about $1.34 trillion and $1.62 trillion. Trading halted Monday morning and all positions were resolved under the wind-down process.

Ventuals announced it will join another project within Hyperliquid’s ecosystem and will wind down its remaining markets over the next few days. Holders of vHYPE can withdraw deposited HYPE on a one-to-one basis, plus any accrued staking yield earned while the markets were active.

Ventuals built round-the-clock private perpetual markets on Hyperliquid using the platform’s HIP-3 market framework, which allows outside teams to create and manage markets on the exchange. The project executed more than $650 million in trading volume and attracted over 500,000 HYPE tokens in community support. Ventuals charged no deposit, withdrawal or management fees for its markets.

The closure removes one HIP-3 operator from the platform. A June 9 report found that TradeXYZ accounts for roughly 95% of the pre-IPO category’s $1.46 billion lifetime volume. Open interest across pre-IPO markets on the platform sits near $106 million.

TradeXYZ’s Cerebras (CBRS) contract traded within 1.3% of the chip maker’s $350 Nasdaq open in May, above the $185 IPO reference price. A SpaceX pre-IPO contract, SPCX, launched May 18 and remained above the $135 offering price for weeks; SpaceX opened at $150 on its Nasdaq debut on June 12 and closed up about 19%.

The HYPE token traded near $68 and rose roughly 12% on the day Ventuals’ markets were settled.

Ventuals will complete the wind-down and halt its remaining markets in the coming days as the team transitions to the new project within the Hyperliquid ecosystem.