Hyperliquid LITE Contract Jumps 20.6% as MRVL Falls 10.9%.

On Oct. 29, Hyperliquid’s LITE perpetual contract rose as much as 20.6%, while MRVL fell as much as 10.9%. Neither company had reached a final agreement; an announcement could come as early as next week. After the initial swings, LITE stood 7.65% above its reference level and MRVL 6.18% below its benchmark. The two contracts traded an estimated $37.37 million combined in the first hour after the news. Notional open interest increased 44.6% for LITE and 10.6% for MRVL during the move. One trader closed a LITE long position, opened a short and added to a MRVL long.