MetaMask says it plans to launch in-wallet perpetual trading with Hyperliquid. The feature will enable users to trade perpetual futures contracts directly within the MetaMask platform. Hyperliquid is a decentralized derivatives platform built on its own Layer 1 blockchain. Perpetual trading involves using perpetual crypto futures, a type of derivative contract that allows traders to speculate on the price of an asset without an expiration date. Unlike traditional futures, these contracts can be held indefinitely.

The update comes fresh off Ethereum co-founder and ConsenSys CEO Joseph Lubin revealing that MetaMask will launch its MASK cryptocurrency sooner than expected. “The MASK token is coming — it may come sooner than you would expect right now,” Lubin said. “ConsenSys is supporting the Ethereum ecosystem to move toward gradual decentralization through MetaMask, Infura, and Linea.” MetaMask has also unveiled its first native stablecoin, MetaMask USD (MUSD).

Hyperliquid already dominates 70-80% of the perpetual futures market, with $100M+ monthly revenue, driven by zero-fee blockchain and 99% fee buyback tokenomics. Furthermore, the integration with MetaMask marks a strategic expansion for Hyperliquid beyond derivatives into spot trading and institutional-grade infrastructure. This year, the platform surpassed $1 trillion in cumulative trading volume and hit $3.4 billion in daily spot volume.

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The native Hyperliquid cryptocurrency (HYPE) is down 4% following the announcement, but remains up 30% in the last 30 days.