Why I‘m bullish on Hyperliquid:
> Hyperliquid has the highest OI and user count among all DEXs and the best UI/UX
> Since the beginning of December, Hyperliquid has increased Open Interest from $5.6B to $7.5B, a gain of +34%
> Hyperliquid’s open interest ratio vs CEX is back to pre-10/10 levels
> Hyperliquid generated $154b in 30D Volume WITHOUT any ongoing official incentive program
> Major wallets like Phantom and MetaMask route users through Hyperliquid perps via builder codes, which is very difficult for competitors to compete with
> Hyperliquid generates over $1.5M in daily revenue on average, and the AF continuously buys up the circulating supply
> At the current pace, there are only ~1.5 years left to accumulate the entire ready-for-sale supply
> Hyperliquid is on track to becoming the AWS of liquidity, powering markets behind the scenes (users don’t know they use HL, it simply runs quietly in the background)
> Paradigm and top VCs bought their $HYPE on the open market without discounts and no backdoor deals
> Jeff and Iliensinc are Harvard-Grads who consistently choose long-term impact over short-term money; team unlocks have mostly been restaked with less selling pressure than expected (mostly OTC)
> Hyperliquid is actively expanding headcount, signalling continued growth and product velocity
> DATs are acquiring huge amounts of $HYPE
> BLP launched on HyperCore, opening the door to additional margin assets which is extremely bullish imo
> Hyperliquid to win TradFi flow by bringing permissionless stocks on-chain via HIP-3, capturing portions of global equity volume over time (hundreds of millions in daily volume already and it will only rise over time)
> Forex markets just went live on Hyperliquid (EUR, JPY…)
> USDH is rapidly becoming the core quote asset for HIP-3 and is gaining broad ecosystem acceptance
> As more traders move to Hyperliquid for its liquidity (HL just reached 1.4M total users!), the platform attracts more fees, deeper usage, and compounding network effects like higher usage of EVM, more volume on equity perps, usage of BLP etc
> HyperEVM is still in alpha, meaning entirely new categories of applications and use cases have yet to emerge
> $HYPE should be more bear-market resistent than other coins due to its buyback mechanism
> Users who move to Hyperliquid don’t leave (retention rates are extremely high, you can see it with volume, OI, fees and daily active traders)
> Jeff ships every roadmap item ahead of expectations, clearly putting actions over words
> Funds and market makers are increasingly routing order flow through HL and they also need to buy up to 500k $HYPE to get fee discounts
> Hyperliquid currently has over 60,000 daily active users, by far the highest of any perps DEX
> TradeXYZ has just surpassed 10B in volume
> ~43% of the supply is still reserved for the community (either via long-term staking rewards, airdrops or a combination of both)
Hyperliquid