THE HYPE FLYWHEEL
HYPE has become the 9th largest cryptocurrency, hitting new all-time highs while BTC and ETH struggle. What's driving the move? Protocol buybacks, institutional ETF demand, commodities and stock perps, and growing pre-IPO markets on Hyperliquid.
Our research team broke down the flywheel behind HYPE's rise. Check it out below:
1st spaces ever with @chameleon_jeff
recorded Jan 6th 2023, when Hyperliquid was in testnet
00:00 Banter
07:35 Jeff introduces himself as HL founder, background in market making
11:08 FTX implosion was the defining moment to build trustless platform
13:40 Why order books over AMMs and hybrid models like GMX
19:13 Key differentiator: entire order book runs on-chain, not centralized servers
22:43 Decision to build Hyperliquid chain on Tendermint after trading comp
33:47 Introducing vaults and pools for community-managed liquidity strategies
49:58 Mainnet timeline: testnet in January, closed alpha in February
Big day for our US-based traders, and for Coinbase.
Until now, US users have been locked out of ~80% of global crypto markets (perpetual futures and options). But not anymore!
Coinbase is the first and only regulated platform able to connect US users to global crypto options and perpetual futures (including Deribit options with >$31B in OI).
Thanks to Chairman Selig and @CFTC for making this possible.
⚡️ NEW: Intercontinental Exchange (ICE) founder Jeff Sprecher says Hyperliquid is bigger than NASDAQ and is being run by just 11 people, calling it "pretty something."