100X

A Blockchain/Fintech Development studio, with a passion for decentralization

[100X @100x_fi]

On-chain perpetual futures is starting to push CEXs with 17% being Hyperliquid, and 83% being Bybit and Binance combined.

Onchain perpetual futures are challenging CEXs, with Hyperliquid at 17% and Bybit and Binance at 83% combined.

Hyperliquid dominates ~70–80 % of the perpetual DEX market, with $6 - 8 B daily volume after the record-breaking $HYPE airdrop that created millionaires.

To compete, challengers need strong airdrops. Three stand out with their own narrative:

⚡ Lighter @Lighter_xyz

VC Stack: a16z, Lightspeed; founder ex-Citadel HFT
Edge: proprietary ZK roll-up → 5ms latency
Daily Volume $1 - 2 B in closed-beta with points program; some may be inorganic
LLP Vault: 100%+ APR
Currently 0% taker / maker fees

🟨 Aster @Aster_DEX

Backers: YZi Labs (formerly Binance Labs)
Liquidity ties with Binance market makers
Edge: First fully-integrated hidden orders

❇️ Extended @extendedapp

Team: Former Revolut
Edge: Cross - asset collateral + TradFi index perps (S&P 500, NASDAQ 100, Crude Oil)
20% APY vault capped at $7.5 M, fills quickly

But while the challengers are rising fast, there's still one clear king.

🐲 Hyperliquid @HyperliquidX

Custom L1 with sub-second finality
HLP vault: key liquidity provider with stable APR
Spot market and HyperEVM
70-80% perpetual DEX market share

Hyperliquid redefined the standard: speed, UX, mega-drop, and sticky flow. Any challenger meeting these four criteria could be the next Hyperliquid,
.
.
or perhaps there is no next Hyperliquid.

[100X @100x_fi]

3/ James Wynn's Hyperliquid Diary

3 Jun:
Rebuild 5.06K BTC long (worth $535M); week-to-date unrealized –$36.8M, yet intraday hovers green.

5 Jun:
Mega-long still live while BTC whipsaws $105-106 K. Meanwhile Hyperliquid posts a record ~$244B May volume, thanks in part to the Wynn-watching frenzy.

6 Jun:
A fresh dip forces liquidation of 379 BTC (~ $2.7 M); wallet now ≈ $706 K equity, lifetime score + $80 M peak → – $17 M net.

His real-time transparency turned his trades into market theatre, pumping Hyperliquid volumes and reminding every crypto desk—retail and institutional alike—that 40× on-chain perps magnify both glory and ruin.

[100X @100x_fi]

James Wynn’s Hyperliquid Diary — A Lesson in Leverage

From the start of $4.65M USDC on Hyperliquid in early March when he started sharing his address; runs balance up to over $40M realized PnL. “James Wynn” are on everyone’s feed.

[100X @100x_fi]

2/ James Wynn's Hyperliquid Diary

2 Jun (04:00 UTC):
Wynn unstakes & sells 126,116 HYPE for $4.13M, pocketing a +32% flip and tweeting a dramatic “I’m leaving perps for good” thread; he also sweeps all remaining USDC off Hyperliquid.

2 Jun (08:00 UTC):
Just 4 hours later, he’s back. Deposits $2M, opens a 945 BTC long (worth $99.5M, 40×) at $105,890—an instant “revenge trade.” Unrealized PnL flips to -$1.7M within minutes.

Community response:
He claimed he is fighting against “the market making cabal” on his timeline and ask for donation to support his cause. Followers send ≈ $20K;

[100X @100x_fi]

9/ TL;DR

The HYPE Thesis
• Genesis drop was the biggest airdrop in crypto history
• CEX-grade liquidity & sticky volumes
• 9-figs annually revenue-driven buy-backs
• Utility stack expanding ( staking, fee tier, HyperEVM )
• ~39 % supply still in the incentive pool

Fundamentals keep strengthening; the question is whether the market has fully priced them in.

#Hyperliquid

[100X @100x_fi]

🚀 $HYPE Phenomenon: Why Smart Money Is Rushing In

Smart money is piling into @Hyperliquid’s $HYPE. From the record-breaking airdrop to 9-figure buy-backs and a brand-new HyperEVM, here’s the data-driven rundown you need 🧵👇

[100X @100x_fi]

9/ HyperEVM = growth engine.

Launched Jan ′25, it brings EVM-compatible smart-contracts to the high-throughput Hyperliquid chain — opening doors for native DeFi.

[100X @100x_fi]

10/10 What could happen next?

• JGB yields keep rising, no policy pivot → global yields march up; watch the Fed.

• Fed cuts / restarts QE to stabilize the Treasury market → caps USD yields, eases dollar funding; liquidity impulse follows

• BoJ re-caps JGBs / steps up buying → yen carry trade reopens; risk-on for BTC, equities, gold.

📌 Track JGB auction cover ratios, USD/JPY trend, and FOMC guidance to see which path takes hold. Japan’s US $1.13T Treasury stash gives it real market leverage.

#JGB #BoJ #USTreasury #Fed

[100X @100x_fi]

💹 30-yr Japan’s Government Bond Yield makes new high— why this matters for global markets & crypto 🧵

Before we go, a few jargons you need to know

JGBs = Japanese Government Bonds
BoJ = Bank of Japan
YCC = Yield Curve Control (BoJ capping long-term bond yields)
Carry trade = Borrow cheap interest rates (JPY), invest in higher-yield assets

[100X @100x_fi]

9/10 Pressure overseas is real, but Japan’s own debt load may force the next move.

The public debt is too high ≈ 260 % of GDP; +10 bp increase in yields add ~¥1.3 T to interest.

While BoJ already owns > 50% of JGBs, ammo is thin.

So markets expect the BoJ to pivot with easier policy.
• re-state a yield cap (YCC)
• shift purchases to super-long bonds.
• let inflation run above yields to erode the debt load.