Baba

Onchain | Prev Research @MessariCrypto | Trading attention | NFA

[Baba @0xbaba]

$50 per $hype

hyperliquid

[Ben Carlson @awealthofcs]

Wemby is like AI's impact on the labor market

It feels inevitable but it's not happening quite yet

[steven.hl @_stevenhl]

HYPE is now making new ATHs above $70. Those of you in the old school who think HYPE is correlated to BTC simply do not understand what makes Hyperliquid unique or you did not cared enough to try. The future of finance coming onchain is mathematically probable in this paradigm.

[MONK @defi_monk]

It has been infinitely easier to pitch $HYPE to TradFi analysts vs. disgruntled crypto natives.

One thing I’m seeing is that traditional investors are far better at understanding the size of the opportunity, and are very quick to digest the risks and pick out the asymmetry.

“So the risk is regulatory clarity but the potential outcome is a business that can disrupt a trillion $+ TAM? Yeah it’s a no brainer”.

They’re also:

- quick to reject FDV once they understand the supply dynamics
- unconcerned with recent revenue declines as they see the secular growth story
- willing to back the fastest horse versus slower incumbents
- view buybacks + sinks as a satisfactory form of value accrual

Lastly, I have not seen anyone (yet) do a fucking DCF.

[Baba @0xbaba]

elite read on pluralis

[kel. @kelxyz_]

https://t.co/h5qf2dS2pF

[carlisle @0xcarlisle]

This is a rare sight. $HYPE is at an ATH, but its market cap is actually lower than the last time it traded at these levels. Deflation and sinks..

Compare this to $SOL, incredible 2025 run kudos to the ecosystem, but it needed a massively higher market cap just to touch the same level. Inflation kept diluting holders at every level.

[Daniel @growing_daniel]

one good girl is worth a thousand GPUs

[Baba @0xbaba]

maybe i start trading more, maybe i go into a bunker and just hold hype

market will tell me which way to go

[Baba @0xbaba]

$50 per $hype

hyperliquid

[Baba @0xbaba]

a16z buying $hype was just the warm up, the real institutional bid for hyperliquid has arrived. the fomo people felt after missing the hype airdrop at tge is similar to how institutions feel right now

coinbase alignment, etfs going live, regulatory clarity, sec approving tokenized stock trading, dat buying, and, pre-ipo trading have gotten the attention of players outside of crypto

all that happened while a majority of ct was underexposed to hype due to overall bearish crypto sentiment, previous profit taking, tailing loracle, etc. this leaves a holder base primarily composed of people with a longer term outlook on hype that are less likely sell on this current move up

tldr: higher for hype

[Ryan Watkins @RyanWatkins_]

TradFi interest in $HYPE is accelerating with $PURR having its highest volume day ever at ~$210M.

What’s more is it’s possible PURR raised 8 figures today to buy more HYPE given 1) it trades at a ~1.2x mNAV premium and 2) they’ve recently began tapping their equity facility.

This is a significant positive surprise given almost no DAT outside MSTR and BMNR has been able to attract meaningful volumes or tap their ATMs since the DAT bubble burst last year.

Few if any were underwriting PURR becoming the 3rd highest volume DAT and making real progress on its $1B equity facility.

My bet is this continues accelerating as HYPE becomes the schelling point to play “IPO season”.

[Baba @0xbaba]

devil takes the hindmost

[Normal Guy @Normal_2610]

Koreans are surrendering life insurance policies to buy SK hynix, Insurance surrenders at the top 3 life insurers jumped 16% last quarter.

Savings bank deposits fell below 100 trillion won for the first time in 4 years. Commercial bank time deposits dropped 12 trillion won since February.

The entire financial system is being rerouted into 2 semiconductor stocks. When new money into a rally comes not from income but from liquidating safety nets, that is how the end of every cycle looks man, this is crazy .....

Investors over 50 now hold 62% of margin loans at Korea top 10 brokerages. Among those in their 60s, margin debt doubled from 3.9 to 8 trillion won in one year.

These are people who spent decades in fixed deposits and real estate, now entering a semiconductor rally on borrowed money at record highs.

When the KOSPI dropped 19% in March, leveraged investors in their 60s lost 20% on average. The rally recovered.

same thing in smaller model happening in India - MTF, i feel this so stupid

[Ryan Watkins @RyanWatkins_]

In the best way possible, Hyperliquid is starting to feel like a radical online cult building a digital cathedral for global finance.

It’s amusing seeing all these centralized crypto companies buy $HYPE to signal alignment to the community as if it’s tribute.

I don’t recall this ever happening with any asset other than $BTC.

Beyond the obvious flows benefit, the practical implication here is that an increasingly wide and powerful network of people and institutions in the crypto ecosystem are all highly incentivized to make Hyperliquid a massive success.

I honestly believe this dynamic wouldn’t exist if Hyperliquid didn’t do a fair launch and rekindle crypto’s original spirit.

My bet is this will remain a compounding advantage for Hyperliquid well into the future.

[Baba @0xbaba]

@StewArtVandelay @capnpope variational is good

[Baba @0xbaba]

life changing decision

hyperliquid

[Baba @0xbaba]

@capnpope not yet

[MONK @defi_monk]

We are not prepared for the scenario where Circle and Coinbase help Hyperliquid get legalized in the U.S., USDC supply on HL to 5x and Coinbase to become the primary frontend for Hyperliquid in the U.S.

[jords @jords]

okay so the hyperliquid announcement is omega giga bullish and there are enough tldr's around for you to read the basics but here are my favourite parts:

- the core team clearly has high leverage even with the biggest players in the game as they secure a deal with extremely favourable terms
- one of the biggest friction points (bridging to HL) will soon be direct through circle's cross-chain protocol
- hard to describe how big of a win this is from a regulatory standpoint just before the clarity act is likely to pass. two of the most scrutinised and regulation-friendly teams just threw a massive amount of reputation and money at HL right before it goes through the senate. that timing isn't an accident
- this deal reaffirms the HL team remains extremely aligned with the growth of the token and redistributing the wealth created on chain back to users
- there are no 'leaks' in the HL team, in crypto it's very common to see tokens outperforming into unknown announcements, $HYPE has been bleeding coming into this announcement
- there is no other chain where increasing TVL feeds directly into token increase, $HYPE now does

this announcement really helps smooth over the bear cases and creates an even higher ceiling for the bull cases

hyperliquid will be the house of all finance and all others will be competing through builder codes

hyperliquid

[Baba @0xbaba]

@CL207 new job for citrini analyst #4