2 years since TGE. Staking yield & team unlocks have kept accruing.
Yet circ supply is down to 298.5M $HYPE.
What even most bulls don't understand is, $HYPE circ supply only goes down. I doubt we will ever see above TGE circ supply (330M).
No other coin or stock has such supply mechanics.
At current pace it would take 5+ years of team unlocks and a reduction of revenues by -75% to even hit 330M circ supply.
You are not bullish enough.
4 digits.
Hyperliquid.
🤜 Hyperliquid Is Fighting for On-Chain Perpetuals in the U.S.
.@HyperliquidX is stepping deeper into the U.S. regulatory fight over crypto perpetuals.
The Hyperliquid Policy Center has hired former U.S. Solicitor General Elizabeth Prelogar to challenge CME Group’s lawsuit against the CFTC’s approval of Bitcoin perpetual futures on Kalshi.
CME has no legal standing to block a product it could also offer but has chosen not to.
The case matters beyond Kalshi.
The CFTC’s decision could open the door for on-chain derivatives markets to operate within the U.S. regulatory framework, potentially creating a path for platforms like Hyperliquid to bring perpetual trading on-chain to American users.
And the market is already too large to ignore. Global perpetual futures generated nearly $90T in notional volume last year, yet almost none of that activity was available through U.S.-regulated exchanges.
Hyperliquid’s policy arm argues that if incumbents can sue whenever regulators approve a new product they don't offer themselves, it could slow down the development of an entire new market structure. That makes this more than a legal battle between CME and the CFTC.
It is also a fight over whether on-chain derivatives can become part of the regulated U.S. financial system.
For Hyperliquid, the outcome could be significant.
If U.S. regulators ultimately allow regulated venues to offer crypto perpetuals, Hyperliquid could gain a clearer path toward bringing its on-chain trading model into the U.S. market.
NASDAQ INDIRECTLY INVESTING INTO @HyperliquidX THROUGH @Payward@krakenfx ?
Gud hedge as Kraken starts to deploy regulated US perpetuals built on @HyperliquidX
$HYPE is undervalued
Today, we filed an amicus brief in CME v. Selig with a @CooleyLLP team led by former Solicitor General Elizabeth Prelogar, urging the court to grant the @CFTC's motion to dismiss.
For years, Americans were pushed offshore to trade perpetual futures. This spring, the @CFTC opened the door at home. In June, CME sued to close it. That anticompetitive effort must fail.
Hyperliquid Is Set To Enter The US Market Imminently (Necessary Steps Explained) with @HyperliquidPC CEO @jchervinsky
Timestamps:
00:00 Intro
02:03 The Press Conference Surprise
04:03 Founding The Hyperliquid Policy Center
07:45 Why Perps Beat Traditional Futures
11:00 CFTC Already Approved Perps
14:16 Crawl Walk Run Approach
20:06 One Shared Liquidity Venue
22:25 HIP-3* Markets Explained
31:37 The Silver Market Breakout
34:03 Stablecoins And The Genius Act
36:12 Circle & Hyperliquid USDC Deal
41:16 Bottom Up Vs Top Down Regulation