Hyperliquid ecosystem HIP-3 open interest reached a record high of $4.65 billion.

Binance - RAY is currently priced at $1.71, up 8.92% in the last 24 hours. 24-hour trading volume was $24.38 million, representing a 40.62% increase. (For reference only.)

The cryptocurrency market rallied following the US midterm elections, with ETH rising 6.79%, BTC rising 4.42%, XRP rising 4.40%, and SOL rising 4.36% in the past 24 hours.

On November 4, House Speaker Boris Johnson announced his decision not to continue leading the House Republicans next year, sparking a new leadership battle within the Republican Party. The race to succeed Johnson is likely to be between Steve Scalise, Jim Jordan, and Tom Emmer. Over the past two election cycles, Johnson traveled to 36 states to campaign for Republican candidates and raised more than $526 million for them and their supported super PACs. Voters, fueled by high living costs and discontent over the war with Iran, turned their frustrations toward Trump.

The US Democratic Party plans to investigate financial ties between the crypto industry and President Trump and his family. (Source: Bloomberg)

Following the US midterm elections, the Democratic Party regained control of the Senate. With President Trump's nominations of Federal Reserve governors now requiring Senate confirmation, the Democrats have gained control of the Senate and will have a dominant role in the review and confirmation process. Currently, there are no vacancies on the seven-member Federal Reserve Board of Governors. Former Fed Chairman Jerome Powell will remain on the board until January 2028, making it difficult for Trump to change the composition of the board through new appointments in the short term. Democratic Senator Elizabeth Warren is expected to become chair of the Senate Banking Committee, strengthening scrutiny of Fed nominees. The new Congress will take office in January 2027. With Democrats controlling the Senate, they cannot directly prevent the White House from pressuring current Federal Reserve officials; future monetary policy will depend on inflation and economic data.