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Ran some numbers on what HYPE could actually do if the ETFs clear: Only honest comparison is ETH and SOL, since BTC is its own animal ETH spot ETFs (21 months in): - $12B AUM - 3% of market cap - ETH still trades below its pre-ETF launch price SOL spot ETFs (6 months in): - $1B AUM - ~1% of market cap at launch - SOL went from $205 pre-ETF to $84 today. Down roughly 60 percent Both ETF launches were disasters for price short term. The reason is boring but important Insider selling absorbed every dollar of inflow - ETH: validators, foundation, team - SOL: massive VC cliff unlocks HYPE has neither. No VC round ever happened. No team unlocks hitting the market until 2027. And 97% of protocol revenue goes straight into buybacks every single day. Over $1.3B already bought back. The float literally shrinks while inflows build Every $ of ETF buying actually lifts the price because nobody is waiting to sell into it And this is before you even take into consideration HIP3 exponential growth and HIP4 markets launching HIP-4 prediction markets launch this quarter. And this is where people are potentially also sleeping Private comps right now: - Kalshi: $22B valuation (raised $1B in March) - Polymarket: raising at $15B valuation (April) - DraftKings: $10.8B market cap (public, down 27% in 3 months) Combined private valuation of the two prediction market leaders is $37B. HYPE is $10B Prediction market volume last year: $51B. This year pacing for $240B. Bernstein forecasts $1T by 2030 Hyperliquid is about to be the only platform in crypto offering spot, perps, and prediction markets natively on one execution layer Rough ranges if the ETFs get through: Base (ETH-style grind): $60–75 Bull (2-3 ETFs approve in a quarter): $85–120 Tail (full squeeze): $140–160 ETH and SOL disappointed because of the sellers. HYPE is the first major ETF candidate without any. Launching into the fastest-growing market in finance. Hyperliquid

nothing makes me more bearish than 6 figure jpegs starting to move again 😭

many such cases…

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

HRT’s first ever intern class of 10 included: • Jesse Zhang, cofounder/CEO of Decagon • Alexandr Wang, cofounder/CEO of Scale AI • Scott Wu, cofounder/CEO of Cognition • Jeffrey Yan, founder/CEO of Hyperliquid Insane!⁠

vibing w cobie on product stuff still one of the more enjoyable things in crypto

Blockchains have at large been generalized with no real direction allowing developers to build any application they want. This has been the vision of Ethereum and many other derivatives. But the key PMF of blockchains is financial activity. Hyperliquid as a L1 is hyper focused on building performant infrastructure for financial transactions. Financial focused blockchains will absorb the market share of generalized blockchains given anything outside of DeFi has largely failed.

hype/sol new all-time high its not too late to sell all your $sol for $hype