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I’ve seen a lot of people asking why HyperEVM NFTs feel lifeless because floors look flat, volume’s dried up, and nobody’s bidding.
to me, that’s not a sign of weakness it’s exactly how these rotations always play out.
The first thing people ignore: there just isn’t much free HYPE in circulation.
straight facts is that 43% of HYPE is staked or locked that’s about 144M tokens completely out of play.
on top of that, the assistance fund has already bought back ~29.8m HYPE, cutting float even further.
so when people complain that there’s “no demand” for NFTs, the real issue is that there’s no circulating supply to drive it.
now you might be wondering where the liquidity is going,
It’s not like the money disappeared. It just rotated somewhere else.
Hyperliquid did ~$400b in perp volume last month, traders are glued to leverage.
meme coins and seasonal farms are pulling in flows.
people are parking HYPE into protocols like Kinetiq to chase points instead of art.
If you’re wondering why NFTs feel starved, it’s simple: capital is tied up farming.
cycles are always the same and every market rotation follows the same script:
perps print the early winners, memes run wild, point farming looks like risk free upside and then, almost like clockwork, NFTs catch the final euphoric wave.
I’ve seen this happen across chains ETH, Solana, Base and Hyperliquid won’t be any different imo
pardon the long read but cycles don’t explain themselves in 280 characters.
if you’ve made it this far, you’re already ahead of the rotation.
hyperliquid wasn’t originally designed as an NFT playground it was built from the ground up for perps.
that's where the product shines, that’s where the culture lives, and that’s where liquidity naturally flows first.
it makes perfect sense that perps, memes, and farms are eating all the attention right now.
but cycles don’t end there, they never do and eventually, the excess capital looks for a new frontier and on hyperliquid, that frontier is NFTs.
with nearly half the HYPE supply staked or locked and floors sitting at cycle lows, the setup is asymmetric.
when the rotation hits, it won’t be gradual, floors will reprice fast, and the same people ignoring NFTs today will be chasing them tomorrow.
That’s why I’m not waiting for volume to prove itself.
Projects like @catbal, @HypioHL, @PiPonHL, @tinyhypercats , and @baldbrothers_ are quietly bringing culture and volume into the ecosystem, even while the broader market is distracted by memes and perps.
pair that with nearly half of HYPE locked or staked, and you have an ecosystem where supply is tight, floors are cheap, and cultural projects are laying the foundation for the next leg up.
Hyperliquid NFTs will have their moment. The only question is whether you’re stacked before it starts. God willing i become a whale and sweep my favorite collections kek
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