In my view, the double-digit price of $HYPE is still a steal.
This is because the market it’s chasing is still largely untapped, with Hyperliquid having under 100k active users. There are only about 45k to 50k true holders of $HYPE . A small group of super users still dominates most of the trading volume.
We're not in a mature market yet; this is just early adoption, so let’s compare the scale.
Hyperliquid's total open contracts across all markets are worth several billion dollars.
In contrast, the open contracts for traditional derivatives can reach into the hundreds of billions.
$HYPE doesn’t need to capture the entire market. It doesn’t even need to get close.
Even if just a few basis points of traditional derivatives trading shift on-chain, it would be massive relative to Hyperliquid's current scale.
That’s the bullish outlook: more assets, more liquidity, more institutions, more round-the-clock trading demand, more fees, more buybacks, and more value flowing back to the token.
The pre-IPO market performance is the clearest. Hyperliquid is no longer just proving the viability of crypto trading; it’s also testing whether private markets and TradFi-type products can trade on-chain before the old systems open up.
This expands its ceiling, and of course, the risks are real: regulation, competition, unlocks, leverage, and market cycles.
But looking at it from a double-digit price perspective, I believe the market will continue to see HYPE as a successful crypto exchange token.
The bigger opportunity lies in its potential to become an on-chain market structure asset.
If that happens, then today’s price range might not seem like such a hot topic of debate...
And more like an early entry opportunity into the market. #HYPE #币圈巴菲特
This is because the market it’s chasing is still largely untapped, with Hyperliquid having under 100k active users. There are only about 45k to 50k true holders of $HYPE . A small group of super users still dominates most of the trading volume.
We're not in a mature market yet; this is just early adoption, so let’s compare the scale.
Hyperliquid's total open contracts across all markets are worth several billion dollars.
In contrast, the open contracts for traditional derivatives can reach into the hundreds of billions.
$HYPE doesn’t need to capture the entire market. It doesn’t even need to get close.
Even if just a few basis points of traditional derivatives trading shift on-chain, it would be massive relative to Hyperliquid's current scale.
That’s the bullish outlook: more assets, more liquidity, more institutions, more round-the-clock trading demand, more fees, more buybacks, and more value flowing back to the token.
The pre-IPO market performance is the clearest. Hyperliquid is no longer just proving the viability of crypto trading; it’s also testing whether private markets and TradFi-type products can trade on-chain before the old systems open up.
This expands its ceiling, and of course, the risks are real: regulation, competition, unlocks, leverage, and market cycles.
But looking at it from a double-digit price perspective, I believe the market will continue to see HYPE as a successful crypto exchange token.
The bigger opportunity lies in its potential to become an on-chain market structure asset.
If that happens, then today’s price range might not seem like such a hot topic of debate...
And more like an early entry opportunity into the market. #HYPE #币圈巴菲特