SpineSwitch

[SpineSwitch @SpineSwitch]

RT @MoneyPrinter0x: is it really as simple as neoclouds being the biggest business sector of the near future, more than each of frontier la…

[x256.hl @x256xx]

Ansem @blknoiz06 is basically the biggest CT guy on planet earth

He is getting 4k new followers every day

He is the main HYPE bull that we needed

$HYPE to 800$ and Make HYPEREVM TRENCHES GREAT AGAIN

[Yaugourt.hl @Yaugourt]

X + Hyperliquid would be the most powerful trading pair in finance. Here's the math.

X just shipped Cashtags. Real-time financial data, charts, contract addresses, all native to the timeline. US + Canada, iPhone first.

If they integrate execution via builder codes on Hyperliquid, the numbers get ridiculous.

Quick refresher on builder codes:

On Hyperliquid, any frontend can route trades for users and collect a fee per fill. Up to 0.1% on perps, 1% on spot.

The user approves a max fee, signs once, and trades flow through the builder's address. Fully onchain, fully transparent. Fees claimed via the standard referral process.

The proof is already out there. Three wallets shipped this exact integration in 2025 and the numbers are public.

Phantom launched in June. 415K monetizable MAU on Token Terminal. 129K of them route through Hyperliquid. That's a 31% conversion. $36.4B in volume, $19M in builder revenue.

MetaMask launched in August. 158.5K monetizable MAU. 38.3K via HL. 24% conversion. $6.5B in volume, $5.5M in revenue.

Rabby launched in August too. ~50K monetizable MAU estimated. 13.6K via HL, around 27% conversion. $2.5B in volume, $681K in revenue.

The pattern is clear. When a frontend integrates Hyperliquid via builder codes, roughly 24-31% of their actively trading users end up routing through HL.

Combined across the 3: $25M+ in builder revenue, $45B+ in volume, ~180K active users in under a year.

Now apply this to X.

Critical point most people miss:

Hyperliquid isn't a crypto-only exchange.

With HIP-3 you can trade Tesla, Apple, S&P 500, NVDA, oil, gold, the VIX, anything with an oracle.

With HIP-4 (live on testnet, mainnet soon) you get prediction markets on real-world events. Elections, Fed decisions, sports, Oscars, geopolitical events.

24/7. Onchain. No closing bell. Cross-margined in one account.

This means almost every X user is addressable.

The crypto trader gets perps. The FinTwit user gets stocks and commodities.

The political junkie gets election markets. The sports fan gets game outcomes. The macro analyst trades the Fed.

The people who post about Trump tweets, Super Bowl, AAPL earnings, CPI prints? They can all trade their thesis directly from the timeline.

X is the only platform where all of these audiences coexist. Cashtags is the entry point. Builder codes is the execution rail.

Methodology before the projections:

Conversion rates 15-30% based on the 24-31% range observed across Phantom, MetaMask, Rabby.

Volume per user $210K/year, revenue per user $110/year, both pulled from existing builder code data.

Scenario 1, Crypto Twitter on a global basis.

Crypto Twitter is estimated at 5-15M users globally.

Conservative case (15% of 5M = 750K users) gives $157B/year in volume and $82M in builder revenue.

Median case (25% of 10M = 2.5M users) gives $525B/year in volume and $273M in revenue.

Optimistic case (30% of 15M = 4.5M users) gives $945B/year in volume and $491M in revenue.

Scenario 2, full X MAU base of 557M.

Because HIP-3 covers TradFi assets and HIP-4 covers predictions, the addressable audience isn't just Crypto Twitter. It's basically anyone who follows news, sports, politics, finance, or markets on X. That's most of the platform.

Conservative case (5% = 27.85M users) gives $5.85T/year in volume and $3.06B in revenue.

Median (15% = 83.55M users) gives $17.55T/year and $9.19B in revenue.

Optimistic (25% = 139.25M users) gives $29.25T/year and $15.32B in revenue.

Reality check on these numbers:

NYSE annual volume is ~$32T, Nasdaq ~$22T, Binance 2024 was ~$8T, Hyperliquid currently runs at ~$1.7T annualized.

The median Scenario 2 puts X via HL above Binance in annual volume.
The optimistic scenario approaches NYSE.
Aggressive, yes.

But the math is just conversion rates from existing integrations applied to a much larger audience that finally has a reason to trade something other than crypto.

What it means for Hyperliquid:

Top-of-funnel from the only platform where crypto, finance, politics, and sports audiences all coexist.

HIP-3 and HIP-4 unlock entire audiences that don't care about crypto but care about Tesla, Fed, NFL, elections. HYPE demand driven by additional volume through fees, priority auctions, MM activity, deployer fees.

Becomes the default execution layer for any frontend with real distribution.

What it means for X:

Real revenue stream beyond ads. Direct competitor to Robinhood, Coinbase, Kalshi, Polymarket, all simultaneously.

Trading rails for stocks, crypto, commodities, and events without building any infrastructure. Plugs into the most active onchain venue with no counterparty risk.

The wildest part: all of this is reachable just by plugging into Hyperliquid's public API. One integration.

The pieces are sitting on the table.

Cashtags shipped (covers stocks AND crypto natively). Builder codes proven ($25M+ in revenue in under a year across 3 wallets).

HIP-3 live (TradFi perps onchain, 24/7). HIP-4 coming to mainnet (prediction markets onchain).

Hyperliquid handles matching and settlement at scale. X owns the distribution.

Sources:
Token Terminal for MAU data, ASXN for builder code volumes and users, https://t.co/E7qmZOaTmS for HL stats, Galaxy/Messari/DataReportal for Crypto Twitter audience estimates, Backlinko/Statista/eMarketer for X MAU, WFE/NYSE/Nasdaq annual reports for traditional volumes.

This is theoretical projection, not a forecast. But the underlying ratios come from real integrations that already happened. The only variable is whether X actually ships this. Everything else is just multiplication.

Just build on Hyperliquid.

[Leonidas 🧡 $DOG @LeonidasNFT]

Binance 100% charges projects to get listed

The @binance listing process is probably the most corrupt in the entire industry

Everyone knows this

The above post is trying to scare other people from coming out and telling the truth which is pathetic coming from the largest institution in crypto

The only appropriate answer is “we messed up really badly, here is exactly what went wrong, and we are now doing X and Y to fix it”

What is Binance hiding?

Why not release the details about the process in which all of those random scammy insider $20M memecoins got listed?

Time and time again Binance ignores real organic communities like the $DOG Army and elevates scams

This is wrong and the founders like @cz_binance are materially benefiting from Binance’s listing process scheme that has harmed millions of people

The $DOG Army stands by @cjhtech and will support him in any way that we can

[Simon Dedic @sjdedic]

Love seeing more people brave enough to call out the Binance mafia and say how broken the CEX system really is.

If we want crypto to grow we should be focused on getting new money in, not milking the very people who build the industry: our founders.

They’re the heart of this space, without them we’re nothing.

Binance dominance must end asap, before the damage becomes irreversible.

[SpineSwitch @SpineSwitch]

You can't give any parties ADL protection without breaking the guarantee of exchange solvency.

Hyperliquid.

[Galois Kevin @Galois_Capital]

Thinking about this more, it was smart of Ethena to negotiate this with exchanges but this is unfair to other users. In my view, exchanges should just offer ADL protection to anyone who meets certain risk parameters and/or who pay a fee. Fairer that way for everyone. Hand picking who gets ADL protection in an opaque way breaks exchange neutrality.

[SpineSwitch @SpineSwitch]

Does the Token ID correspond to the rank the wallet was by points?

[Hyper Foundation @HyperFND]

Hypurr NFTs have been deployed on the HyperEVM.

Participants had the opportunity to opt in to receive a Hypurr NFT after the HyperEVM went live as part of the Genesis Event in November 2024. The HyperEVM launched in February 2025 as the general programmability interface to the Hyperliquid L1. The HyperEVM is not a standalone EVM. Rather, it allows developers to trustlessly tap into the liquidity on HyperCore. Read precompiles allow smart contracts on the HyperEVM to read L1 state, and the CoreWriter contract allows HyperEVM smart contracts to send actions on HyperCore. This two-way communication between Core and EVM secured by the same HyperBFT consensus protocol unlocks powerful new primitives. Many novel applications have been built on the HyperEVM exploring these possibilities, including LSTs, lending, and vault tokenization protocols.

The goal of the Hypurr NFT collection was to share a memento with those who believed in and contributed early on to Hyperliquid’s growth. Each NFT is unique and captures the different moods, hobbies, tastes, and quirks of the Hyperliquid community, as depicted by Hypurr.

There are a total of 4,600 NFTs in the collection. 4,313 NFTs went to Genesis Event participants, 144 went to the Hyper Foundation, and 143 went to core contributors, including Hyperliquid Labs, NFT artists, and other contributors.

Ownership and use of Hypurr NFTs are subject to the Hypurr NFT Terms and License available here: https://t.co/6oHgPdf7G9. Participants who opted in to receive a Hypurr NFT as part of the Genesis Event were screened according to the Foundation's risk-based program. In addition, clustering analysis was conducted to protect against sybil behavior and cap the total number of NFTs received by any given user.

Contract address: 0x9125E2d6827a00B0F8330D6ef7BEF07730Bac685.

To be clear: No action is required. You do not need to mint. The NFT collection has already been distributed. As always, beware of scams and impersonations.

[Native Markets @nativemarkets]

Users can expect a phased rollout of USDH over the coming months.

✅USDH HIP-1 and ERC-20 deployed
✅USDH / USDC spot order book on HyperCore
🏃HyperEVM integrations underway
🔜USDH as a spot quote asset
🔜Native minting on HyperCore
⏲️USDH-margined perp order books via HIP-3

[SpineSwitch @SpineSwitch]

At least some settlement happens on BSC https://t.co/AfhPpg6v1Z

[as required. @0xasrequired]

@stablealt they’re not even bothering to use the classic “but settlement happens onchain with ZPKs” get out of jail free card

the blow up will be glorious

[SpineSwitch @SpineSwitch]

When you deposit $SOL into @Aster_DEX , it stays as $SOL instead of being converted into a stablecoin, and can be used as collateral for perp trading. But how does the platform sell the $SOL if you get liquidated? There is no $SOL spot book on Aster

[CZ 🔶 BNB @cz_binance]

@frankdegods Aster is not a BNB Chain exclusive perp dex. It supports multiple chains natively.

It also support hidden orders. Different from other perp dex designs.

[SpineSwitch @SpineSwitch]

@stevenyuntcap What does SAM stand for?

[SpineSwitch @SpineSwitch]

@0xBriann @Saint_Pump @mpochwat How do you know he accumulated 20% of onchain supply

[SpineSwitch @SpineSwitch]

Yap early, yap only, yap often.

@_kaitoai is connecting AI, attention and capital with Yaps.

Just claimed my social card and I'm accumulating Yap points in real-time.

Claim yours 👉 https://t.co/OhHOuT3Ed1

[SpineSwitch @SpineSwitch]

@SGJohnsson In your view, how likely is it that the SEC appeals the ruling? And if they do, how soon are they likely to do so?

[SpineSwitch @SpineSwitch]

$XRP up over 20% in the past few days on speculation that the SEC will discuss a resolution to their case against Ripple in the upcoming Closed Meeting on July 18th

These Closed Meetings are actually routine occurrences, typically once every two weeks: https://t.co/O7anVVCI6O

Sell-the-news trade in the making (cc @RunnerXBT)

[XRP @XRP_2026]

🚨 BOOOOOOOM! private executive meeting at their headquarters in Washington for this Thursday (18 Jul-24)! Reliable sources have informed us that this meeting is connected to the #Ripple vs #SEC resolutions and the finalization of the court case! #XRP

[SpineSwitch @SpineSwitch]

@ByzGeneral Great layout. Is this https://t.co/DKuTSJqx2W?

[SpineSwitch @SpineSwitch]

@HighStakesCap Are you back in lev?

[SpineSwitch @SpineSwitch]

@SGJohnsson Appreciate the breakdown. Any particular reason you think the 19b-4 approvals come post-close?

[SpineSwitch @SpineSwitch]

@NB1763 Nice call, curious what the thesis behind long $BNB was

[SpineSwitch @SpineSwitch]

@fewseethis Coinalyze doesn't include CME OI though, which has doubled in the past month. Does that concern you?