Perfecting old ideas at the right moment.
@Matt_Hougan of @bitwise tells @NateGeraci how @HyperliquidX combines all the promises of DeFi into one easy-to-use platform.
Right regulatory environment. Right technology setup.
I find relative asset positioning quite boring - what matters is high level market structure and response.
The mindshare and value of hyperliquid:native is actually a symptom of crypto healing. It provides high utility, attracted a lot of traders, and has a lot of revenue.
One of the first networks the market rewarded in this way is solana:So11111111111111111111111111111111111111112 and I think it’s sign of the market maturing that both continue to be valued quite well by the market.
This is bullish for anyone building real things, and puts appropriate pressure on teams to built stuff people want to actually use.
>$22,000,000 of volume traded today in the Bitwise Hyperliquid ETF $BHYP
BHYP is the largest and most liquid HYPE ETF in the world today.
That’s not us, that’s investors choosing Hyperliquid. Thank you to investors for entrusting us to steward your exposure.
Onward —
While the ETF flows for hyperliquid:native have been impressive, the majority of the bid has come from $PURR
Using our proprietary onchain analysis we estimate that they have purchased an additional 1,353,356 HYPE this week
Their total market impact is roughly 2x all spot ETFs