This is the story of Hyperliquid, the most profitable startup per employee on earth, told from a guarded office in Singapore.
Last year, its team of 11 generated $900 million in profit. It's 3 years old, has never taken a dollar of venture capital, and is beginning to change how
Mfs before hyperliquid did it:
“It’s too hard and will never be done properly”
Mfs after hyperliquid does it:
“This has zero moat and everyone will be able to do it”
With $LIT slipping below a $1bn FDV, it's safe to say the alt perp dex point farming meta is over. Would highly recommend to stop trading inorganically for points.
Incredibly hard to see Extended, Rado, Variational, Reya, Ostium etc debuting at over 25-35% of @Lighter_xyz FDV (think $250-350m ceiling). Even that might be ambitious depending on market conditions, but it lines up with Polymarket odds. I think the PA we saw with $DIME was less an indictment of Paradex and more so a wake up call of what we're likely to see more of for other perp dex TGE.
Probably bearish for TreadFi too, and any other part of the industrial point farming complex.
I would even bet that it's sub 50% chance that there will be a @tradexyz token within the next 2 years, possibly ever. I think most HIP3 farmers expecting a monster airdrop are likely to be very disappointed. The only liquid way to bet on HIP3 adoption specifically at this point is $KNTQ, and I'd say it's currently reasonably valued at $130m FDV.
As boring and consensus as it is to reiterate, it's all pretty bullish for $HYPE . As point values plummet, which I'd estimate they all have tanked about 50-75% YTD, way less incentive to do volume elsewhere. Way less pressure on @HyperliquidX to do a huge airdrop too. In the same time the competitions' marketing budgets (notional airdrop allocation) have plummeted, $HYPE has held up. They could do a 1% supply airdrop per year and it'd exceed all their competitors market cap.
Nature is healing and this silly meta is over.
Crypto is once again serving as the only open window into how traders are pricing the continuing conflict in the Middle East, with perps tracking oil, gold and silver on Hyperliquid showing notable moves as the Iran war enters its second week bloomberg.com/news/articles/…
It's the weekend and the TradExchanges' computers must caddy for their humans on the golf course. But @HyperliquidX is always open for trading. The oil perp CL-USDC is where price discovery will happen this weekend as bombs continue to fall in the middle east.
$HYPE -> $150 😘😘
believe that hyperliquid is going to benefit immensely during these periods of heightened global unrest with increased market volatility, as it will be the primary venue with the most perps liquidity for everyone to trade all assets 24/7
The Hyperliquid Assistance Fund surpassed $1B in total buybacks today, a little over 15 months after $HYPE went live.
This means a total of 41.71M HYPE, currently worth $1.35B, has been burned forever, representing 4.17% of the total supply.
hypurrscan.io/address/0xfefe…
CFTC @ChairmanSelig laid out an exciting roadmap for the Commission's top priorities at @MilkenInstitute's Future of Finance 2026 today:
"I view Project Crypto as a historic initiative between the agencies to upgrade and modernize our rules and regulations and future-proof them for technologies like crypto...."
"Many of the firms want to move onchain. The prior administration drove a lot of these firms and the liquidity offshore. The perpetuals markets are a great example of this. We've had perpetual futures contracts in crypto assets for a very long time[,] but they've developed offshore[.] We've got to bring that back to the United States. We need to have that liquidity here in the U.S...."
"We're working towards getting perpetual futures, true perpetual futures, not long-dated contracts, here in the U.S. within the next month or so.... We're also working towards onchain markets, so we're looking to have clear guidance as to what sort of digital wallets would implicate our regulations. The prior administration really went after firms that were just offering software products...."
"We're also working towards regulations that accommodate onchain software systems, so decentralized finance protocols and other types of blockchain networks.... We're going to make sure it's very clear as to what implicates the CFTC's regulations and what doesn't, and to the extent that an onchain software system or front-end does implicate our rules or regulations, we're modernizing and future-proofing those rules so that there's a place for all of that."
HPC applauds Chairman Selig's forward-thinking approach to regulation and stands ready to support his crucial work ensuring that decentralized markets for perpetual derivatives thrive in the United States. 🇺🇸
1K Followers 875 FollowingHyperliquid maxi. Farming the equity perps era — HL, @tradexyz & more. Building @hypestatsx. Everyone buys hype at the price they deserve.
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167 Followers 2K FollowingThis account is under the ruthless patronage of Bilbo Raddins. @radbro_webring trooper setting you free with a loaded gun ▄︻デ══━一♡
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Trade my feed on IBKR or Hyperliquid here: @pvpterminal
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1K Followers 875 FollowingHyperliquid maxi. Farming the equity perps era — HL, @tradexyz & more. Building @hypestatsx. Everyone buys hype at the price they deserve.
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Youtube of mostly unstructured aspergers droning linked below
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