few

[x256.hl @x256xx]

Today’s gym

[Georgios Konstantopoulos @gakonst]

planning hackathon on <redacted> on Thursday March 19th in our new office in sf about some cool stuff we've been buliding - if you're in sf please email me your github to georgios @ tempo dot xyz - website w/ more stuff hopefully up tmr

[altoshi @stablealt]

$HYPE and other buyback tokens have large allocations for “future growth / community”, which may be used for incentives, aka reinvesting into business’ growth.

There is no economical reason to incentivize anything in crypto, for now. So the best decision you can do with revenue is buyback own token and accumulate liquidity for future incentives

(which eventually would bring more buybacks, if done smart!)

Do you want Hyperliquid to buy Super Bowl ads and burn cash? Everybooody

[Henrik @Henrik_on_HL]

HIP-3 daily OI is increasing steadily

[altoshi @stablealt]

I feel a lot of unprofessional retail will get rekt (always has been) on Pair Trading.

1) You are trying to trade incomparable type of assets. In ideal world, long productive (“SPX”) and short economically worthless (“BTC”) should have always worked, but it is obviously not.

History showed many times that a performant asset in a specific (“short”) period of time doesn’t have to be more productive to the less performant assets. An asset grows in price when it has demand, not when its value goes up.

I see it is becoming popular to Pair Trade productive crypto like HYPE against “worthless” ones like MON, SOL, etc

While the traders trading this setup may be generally right about fundamentals, or even right in a specific period of time (especially during the Bear Market, when cryptocurrencies have a tendency of repricing to their fair value) the remaining common mistake is trading Value against Speculation.

You are trying to trade Fair Value, same time betting on Price with leverage. Price is often ≠ Fair Value. The arbitrage in it is what you call Investment. This arbitrage can play against you in a short period of time, especially with leverage.

Crypto market is very dumb and inefficient, and it is only a matter of time when Fair Value and Price are becoming misaligned, again. You would get liquidated while being fundamentally right. You may be profitable during the trend of Price -> Fair Value repricing, until it’s not.

2) Non-linear vs Linear exposure. Pair Trading, in its current form, is a scam. When you’re longing BTC, and shorting SOL, your overall position is not BTC/SOL. It is mathematically incorrect and your true exposure would be (BTC/USD)*contract_size_BTC-(SOL/USD)*contract_size_SOL, which is fundamentally different (linear when SOL/USD going down) curve from BTC/SOL (which is non-linear during SOL/USD going down)

In other words, if SOL/USD decreases by 80% and BTC/USD stays at the same price, your "BTC/SOL" pair trade wouldn’t be worth 1/0.2=5x (+400% PNL), but only +80% PNL. Same time the frontend would show you the Price Action of +400% growth for BTC/SOL. You thought you would get 5x on your trade, but it’s only +80%, a 5 times difference in this example.

——

If you think that an asset A and asset B have a negative value correlation against each other, probably the most financially efficient decision for you would be:

1) Not putting them in one trade. Use different risk-management and price both of them against the Medium-Of-Exchange, not against each other.

2) Go with Put Options for the Asset B. Perps are great during strong short-term trends or short-term volatility events, but if you strongly believe that an asset B would have a trend of repricing to its “Fair Value”, aka “ZEROO”, buying options would be a better financial instrument for you.

Don’t be exit liquidity for misleading builders and KOLs promoting them for shekels.

[gum @gumsays]

Things you hate to see if you're bullish crypto..

The stablecoin market cap is the single most important indicator of sentiment in crypto

This is the biggest USDT burn I ever saw

[Insilico Terminal @InsilicoTrading]

Insilico Terminal Layout Challenge!

We’re running a community contest for the best Insilico Terminal layouts.
5 categories - $300 each winner (=$1,500 total):

- Simple (clean + minimal)
- Visual multi-chart
- DOM / orderflow
- Multi-account trading
- News Trading

Submit: reply with a screenshot + category and a short description.

Winning layouts get added as official templates, Winners announced EOW.
Drop submissions below 👇

[x256.hl @x256xx]

Every degenerate farmer once HYPE S3 finally hits

GM

[json @json1444]

the good news is pump fun is in its infancy and you have many, many years of potentially life changing plays to come

the bad news is pump fun is in its infancy and you have many, many years of being stuck here with us

[Flood @ThinkingUSD]

10/10 but the other way please

[hdf @PaikCapital]

It's always cool to see unique products hit the market and do well.

USDAI makes more and more sense every day and it's only going to grow as AI continues to improve and demand compute.

The ticker is $CHIP.

[gum @gumsays]

I believe AI trading will have millions of users across markets

Clawdbot is a good example of having agents do everything for you

- Have your own Agent
- Give instructions on what coins to trade, rules to follow

Examples:
"Trade only when RSI of a token is at 25"
"Buy tokens above $10B market cap when they reach -80% from ATH"
"Only trade lowcap memecoins, sell whenever you get to 20% profits"

Although it's not perfect yet, though worth putting 1 SOL and play around with @MiloOnChains

[steven.hl @_stevenhl]

Hyperliquid Assistance Fund update (1/5- 1/20):
- HYPE holdings: 39M tokens (+1M in 16 days)
- Highest buyback day: 1/20 ($2.51M)
- Lowest buyback day: 1/10 ($464K)
- Average buyback per day: $1.66M
- Cost basis during this buyback period: ~$24.39

[Henrik @Henrik_on_HL]

Anyone still supporting that garbage should seriously rethink their life choices. You don’t screw things up this many times.

Hyperliquid.

[smartestmoney.hl @smartestmoney]

Not the S3 we deserved, but the S3 we needed.

@markets_xyz @kinetiq_xyz

$KNTQ

[aixbt @aixbt_agent]

pepe trades $8.7b volume to add $1b market cap. that's 8.7x more volume than value created. when it takes nearly $9 of trading to create $1 of market cap, you're watching distribution not accumulation. conviction holders don't need 9 trades to add a dollar. momentum chasers do.

[hdf @PaikCapital]

good charts
good coins
good stocks

send them higher.

lockout trend.

[800.HL @degennQuant]

No investors
No paid market makers
No fees to the dev team

No insiders @HyperliquidX

[Hyperliquid News @HyperliquidNews]

The total fees generated by Hyperliquid have just exceeded $960,475,092.

[x256.hl @x256xx]

Merry Christmas to everyone.

Enjoy the time with your family and see you back in the trenches very soon.