Leon

I just added $LIT to my portfolio after comparing it to $HYPE The current price of $LIT is poor: from the peak has decreased by more than 65%, FDV is only $1.1B (just 3.6% of the FDV of $HYPE). Compare revenue (annualized in the last 14 days): > Lighter: $60M > Hyperliquid: $760M → Lighter's revenue is approximately 8% of Hyperliquid's revenue. P/E ratio: > Lighter: 18x > Hyperliquid: 39x → $LIT is 2.2x cheaper than $HYPE. Buyback (past 30 days): > Lighter: $4.25 million (1.6% market cap) > Hyperliquid: $41 million (0.6%) → Lighter acquired relatively stronger. Volume & fees 24h: > Lighter: Volume $2.9B > Hyperliquid: Volume $7.9B I see @Lighter_xyz is not far behind @HyperliquidX but in terms of price, $LIT is significantly lower. This is my personal opinion, not investment advice. Good luck!

@Karamata2_2 @HyperliquidX yep am bullish

@Leon_Defi @HyperliquidX Are you holding $HYPE?

🔥 Why is $HYPE pulling ahead of its competitors? @HyperliquidX has entered the top 10 global perpetual exchanges. With daily volumes consistently reaching $5-9B, Hyperliquid is far ahead of Aster, Lighter, dYdX, GMX, and other emerging projects. Here’s why the gap keeps widening: 1/ Superior Open Interest Hyperliquid maintains an absolute leading OI of approximately $7-9.5B, higher than all other competitors combined. Competitors like Aster and Lighter saw a significant decrease in OI after TGE and airdrops. 2/ Expanding ecosystem Hyperliquid is evolving into a full stack derivatives chain: - HyperEVM allows developers to build lending, spot, and app offerings; HyperLend and Unit Spot are now available. - HIP-3 allows anyone to deploy perpetual contracts without permission (only staking 500k HYPE). - HIP-4 introduces outcome based contracts, prediction markets, and option like products. I see that competitors lack a robust permissionless mechanism like HIP-3, making product expansion and diversification difficult. 3/ Real revenue with aggressive buybacks - Daily fees ~3M+, cumulative fees > $1.15 billion. - The majority of revenue is used to buy back HYPE tokens -> creating a strong sink for the token. - Competitors have much lower transaction fees, typically only $100-300,000/day. 4/ Speed & experience nearly CEX - Hyperliquid runs on its own L1 platform HyperCore + HyperEVM with sub second finality & processing over 200,000 orders/second. - Competitors mainly run on L2 (Solana, BNB, Arbitrum…), so their speed and liquidity depth are still inferior during volume spikes. 5/ Operates 24/7 - Weekends and geopolitical events → traditional markets close, but Hyperliquid remains tradable → RWA volume explodes. - The RWA structure makes revenue less dependent on BTC sentiment than competitors 😬. Conclusion: I think it will be very difficult for any product to surpass Hyperliquid in the near future, just as Binance has dominated CEXs.

@FabiusDefi @River4fun feels like momentum compounding fast

~10k creators have joined @River4fun in just the past 3 days 👀 Total registered now at 124k+… that’s kinda insane. You can feel it too, $RIVER content has been popping off across CT lately. Clear signal that attention is flowing back towards that 1B River pts reward pool👀

@ronin_bit gm gm bro

GM BTC back below $70K after rejecting the highs. Choppy conditions, liquidity still being taken.

@gemtoast gmorning

gm men want only one thing and its disgusting:

@gemsmorro gmorning

GM BTC pulled back from $74K to sub $70K... momentum cooling after the recent push. Macro still shaky, liquidity thin, and retail buying the dip. Key spot here: Reclaim strength fast… or we sweep lower before the next real move. Stay sharp. Patience > chasing.

@DomOnChain @zakfolkman this actually feels like stage one of something bigger

seeing some interesting stuff lately… WLFI has been teasing AI pretty hard. @zakfolkman mentioned updates that could change how people think about AI agents making autonomous payments a few days ago, Binance also announced a new product is coming ➡️ Binance AI (name not final, but clearly AI related) now add everything else we’ve seen between these two recently… USD1 inclusion in launchpools, huge WLFI reward campaign, PAXG/USD1 pair… wouldn’t be surprised if there’s something bigger being cooked between @binance and @worldlibertyfi , maybe around agentic payments 🧐 could be nothing, could be something… just connecting dots for now. pure speculation, but excited.

@evans1vn yeah feels like that run is done

There are 26,883 coins launched on all launchpad in last 24 hours. But the shocking thing is out of these coins, only 11 coins are managed to get above 100k mcap. And out of those 11 only one coin is able to hit that 1 million figure. So we can say that official memecoin era has ended ? or there is still something left in this market, but its totally shocking to me the winning rate is 0.04% only. So it means 1 coin is winning out of those 2444 tokens. And the loss rate is almost 99.96% right now. Can't say anything about whats going to happen next but right now seems its too risky to just jump on it and make quick profits.

@H0ogie @wallchain gQuack

Reminiscing on the good old times when @wallchain campaigns where popping up left right and centre The InfoFi grind was a fun (and short) era imo Wonder what's next 👀

@Defi_Rocketeer This feels like the ui phase ending for real

AI Agents will replace App era I realized that AI Agents are replacing the app as the control layer. After actually testing flows between OKX and Uniswap Labs, I believe that will be trending from now on. The current app economy combines 2 structurally different things: [1] Interfaces that humans operate such as apps, dashboards, flows. [2] Infra that actually executes such as APIs, liquidity, settlement rails. For the past 15 years, these 2 were bundled together. Apps owned both and AI Agents split them apart. Humans stay at the intent layer, Agents take over the execution layer then apps get pushed down to infra. So your apps are becoming the backend. Now AI Agents like OpenClaw are replacing the app-centric model with intent-centric interaction. You express what you want in plain language. The Agent figures out the path. The UI becomes irrelevant because the Agent reads it for you. Look at the data I already saw: - DEX volume crossed $1T+ in Q4 2025. - Yet DEX UX is still objectively worse than CEX UX. This only makes sense if users are willing to tolerate friction to access better execution. Now remove the user from execution then that friction disappears, routing becomes purely efficiency-driven. How I think about this shift? [1] Intent Layer = where control is moving Now, users express outcomes. The winner here is the system that understands intent best. [2] Execution Layer = where value will concentrate Agents decide which DEX, which CEX rail, which chain / route. So the model is now agents routing flow directly, you don’t have to do nothing with it. [3] Infrastructure Layer = what apps become Apps don’t disappear, they become liquidity endpoints, execution services, callable infra. Meaning distribution moves away from UI to API. Quick recommendation of projects leading this trend. - Best overall infra bet: @virtuals_io | $VIRTUAL → ecosystem kingpin. - Best for DeFi automation: @Infinit_Labs | $IN or @HeyAnonai | $ANON → one-goal execution. - Best research/insights agent: @SurfAI . - Best autonomous/social/content agents: @pippinlovesyou | $PIPPIN, @freysa_ai | $FAI. - Best niche/utility: @rei_labs | $REI for infra depth, $CLANKER for token tools. I think we are already in the transition phase but most people are still analyzing it from the app layer. Right now, if I break it down ~80% of current products are still UI-first, maybe ~20% are starting to be agent-compatible. And that 20% will define the next cycle imho. NFA & DYOR

@Markkrypt ink’s momentum feels organic this time

I understand that many people are currently quite disappointed with the performance of Layer 2 tokens, especially when both $ARB and $OP have declined significantly over the past three years. To be honest, just like what Vitalik Buterin mentioned, Layer 2 needs more innovation and stronger ecosystem development, rather than simply being “cheaper than Ethereum.” Lower fees alone are not a sustainable competitive advantage. Fortunately, Base seems to be moving in the right direction with strong backing from Coinbase. And another CEX-backed Layer 2 that I’m personally very excited about is Ink, supported by Kraken. Key highlights of Ink: – Block time: 1 second from day one → extremely fast transactions – Gas fees: Very low → ideal for DeFi-heavy activities – Security: Inherits Ethereum security + sequencer-level protections against exploits – Interoperability: Deep integration with the Superchain ecosystem, sharing liquidity, governance, and seamless cross-chain interactions The long-term vision is to become the “House of DeFi” within the Superchain, enabling builders to deploy innovative DeFi protocols while potentially onboarding over 10 million Kraken users on-chain. Although Ink’s mainnet has only been live for around two years, its TVL has already surged to more than $500M. Some of the most notable protocols currently contributing revenue to the Ink ecosystem include: – @nadoHQ - ~$1.68M – @tread_fi - ~$91K – @VelodromeFi - ~$88K – @tydrohq - ~$84K – @otomate_trade - ~$5K Notably, @tydrohq and @nadoHQ together account for more than 90% of the ecosystem’s TVL. Even more interesting: $INK will have allocations for early users, particularly those lending or trading on these platforms. For example: 5% of the total $INK allocation will go to Nado users. Personally, I believe Ink could be one of the catalysts that reignites the Layer 2 narrative and potentially triggers another growth cycle. There are still plenty of opportunities to explore the Ink ecosystem, whether through farming, early participation, or hunting for future incentives. We’ve seen this play out before with major Layer 2 airdrops: – Optimism ($OP): ~$1,000/wallet – Arbitrum ($ARB): ~$1,500/wallet Ink is leveraging Kraken’s reputation and user base to onboard CeFi users into DeFi, focusing on seamless UX and scalability. If the ecosystem continues to grow and attract high-quality dApps, the Layer 2 race might eventually narrow down to just two major players: @Base and @Inkonchain

@KongBTC lmao

2026 summed up:

@TheDeFiAngel @openclaw @ChatGPTapp early signals

“@openclaw is the next @ChatGPTapp.” And suddenly… a new narrative is born: AI agents = the next big cycle. Here’s what’s really happening: “Lobster” (OpenClaw) isn’t just another AI tool. It’s an autonomous agent layer → Not just answering questions → But executing tasks, making decisions, taking actions Think less chatbot more digital worker. ➔ That’s why this matters: • Stocks tied to the narrative are already pumping • Cloud giants like Alibaba, Tencent, Baidu are integrating it • AI infra demand is exploding (prices up, supply tight) Even @nvidia is positioning early. ➔ But here’s the deeper signal most people are missing: This is the shift from “AI that talks” → “AI that does.” And that changes everything. We’re entering a world where: • Agents trade • Agents build • Agents automate workflows end-to-end Not assistive AI… Autonomous execution. MiniMax already showed what’s coming: Their new agent model can handle 30–50% of R&D tasks on its own. That’s not hype. That’s replacement-level capability. Now connect the dots: If OpenClaw becomes the “Windows of AI” Then the real opportunity isn’t just the model rather it’s the ecosystem built on top of it. Same way: Linux → created billions in value Kubernetes → reshaped cloud infra HTML → built the internet OpenClaw could do that for AI agents. We’re early. And narratives like this don’t just trend rather they compound.

@therealchaseeb locked in bro

@Kaffchad def the quiet power

► USDH = Flywheel for $HYPE #Hyperliquid earns millions in revenue every day from trading fees, but I haven't seen anyone talking about $USDH yet. Because USDH is also a Hyperliquid earning machine that's being underestimated. How so? First things first, HL is the largest perp DEX right now with 80% dominated volume. So far HL has $1.12M active users, $4.14T trading volume, and especially $366.27B deposited into the platform. Before USDH, traders often deposited USDC as collateral/margin assets for trading on HL. So imagine with this huge $366B deposited into HL, how much Circle earned from yield. -> That would be ~$200M annualized revenue going straight into Circle's pocket. That's where USDH was born. USDH is the native stablecoin of the HL ecosystem, pegged 1:1 with USD, designed to: – Keep value and yield within the HL eco instead of hundreds of millions flowing out to Circle – Build a flywheel for HL eco, reduce USDC dependency (blacklist risk, delays), and create a native dollar for HyperEVM To incentivize traders to use USDH, HL introduced: 20% lower taker fees, 50% higher maker rebates, and +20% volume count toward fee tiers. -> Traders switching to USDH will trade noticeably cheaper than with USDC. So how does USDH adoption generate a flywheel for $HYPE? USDH earns yield from reserves at ~4-5%/year from T-bills, and that revenue is allocated: – 50% to the Hyperliquid Assistance Fund for $HYPE buybacks – 50% toward HL eco development → building momentum for $HYPE Unlike other yield-bearing stablecoins that share attractive interest directly with holders, USDH redirects everything to build a flywheel: more USDH → more yield → stronger $HYPE buybacks → better $HYPE price → stronger ecosystem → more USDH adoption. The upcoming of HIP 6 is also boosting the utility of USDH that allowing projects to raise fund via USDH. Currently USDH sits at $95M Mcap, generating around $4-5M revenue/year for HL. It's not a large number compared to HL's massive revenue, but as USDH adoption grows stronger, this will become a meaningful source of revenue and buyback pressure for the $HYPE eco.

@WyHai_Crypto timing wins

#PerleAI #ToPerle Airdrops used to feel like opportunity. Now they feel like a lottery with hidden rules. • You do everything right. • Follow the steps. • Stay active. And still end up with “not eligible.” At some point, you have to ask: Is this really about rewarding users… Or just filtering out the majority to make the outcome look exclusive? Because let’s be honest. If thousands of people participate, but only a tiny fraction qualifies, maybe it was never meant to be fair in the first place. It was meant to be selective. • And maybe that’s fine. • But then call it what it is. • Not an open opportunity. Just a competitive funnel where most people are exit liquidity for attention. Curious how many here actually made it through Perle Labs. And more importantly: Was it skill… Or just being early enough? participating in @PerleLabs community campaign

@WilcosX seeing this shaping up nicely

@FabiusDefi still waiting on $sea launch lol

Top “soon” launches that keep delaying: #1: $MASK #2: $SEA #3: $MEGAETH #4:... 👇

@Tanaka_L2 solid thesis. 85-90k feels realistic

The current market correction is creating an opportunity to accumulate more $BTC $ETH $LTC $TAO and $HYPE That’s my personal plan. Looking at the market structure, the 85-90k range is still a reasonable short-term target. – ETFs continue accumulating BTC, with ~1.27B USD flowing into spot Bitcoin ETFs since early March. – Leverage has fully reset, funding rates are at their lowest since early 2023, exchange reserves are back to 2019 levels, and IFP just formed a golden cross – Japan reduced crypto capital gains tax from 55% to 20%, officially recognizing BTC/ETH as financial products. – The CLARITY Act is being accelerated in the Senate with support from the White House. If passed, it will bring clear regulatory clarity and unlock institutional capital. – Expectations of new Big Print liquidity and potential rate cuts could push Bitcoin into a parabolic move. For those who asked me when to buy, this is my answer. Your money, your decision. NFA