HYPE was the first exchange to obtain authorization for S&P 500 contracts. Currently, HYPE allows trading in commodities, crude oil, precious metals, US stock index contracts, and Korean stock contracts. HYPE is expected to continue listing other financial products, making it possible to trade almost anything on the platform. From this perspective, any volatility in any financial instrument benefits HYPE. The potential risk, however, is regulation. Currently, there are no specific regulations governing on-chain DEXs in the US. Unless regulators take action against HYPE, its price is unlikely to fall significantly. However, I believe HYPE will eventually face regulatory action; it's only a matter of time.