Andy
Co-Founder of The Rollup & The Rollup Ventures
Hyperliquid Strategies looks set for a huge repricing as HYPE appears ready for a breakout to $100 or more. The company has $1.4B of unrealized gains on its HYPE holdings and keeps costs low, with three full-time employees and a small office, per David Schamis. Stanley Druckenmiller is in, and management came through last month's dump intact. x.com
Hyperliquid's growing perp share feeds fees into HYPE buybacks even as the market shrinks. Its share among the top 12 perp DEXs rose from 25% in January to 43% in September, below August's 47% peak. Its trailing buyback yield is 3.52% versus 1.51% for the S&P 500, but depends on trading volume and shrinks on fully diluted supply as tokens unlock. Watcher Guru reported plans by the NYSE owner to bring HYPE perps to regulated US markets; $100 remains the chart target. x.com x.com x.com x.com x.com … Show more
PURR stands to benefit as Hyperliquid keeps growing at an astronomical pace. Hyperliquid's revenue reportedly doubled over the last 30 days to $863.64 million. x.com
ICE's planned US perps access could grow Hyperliquid's users, volume and revenue, but that growth may already be priced into HYPE. CFTC approval, a launch and actual US adoption are still needed; even then, extra fees and buybacks must beat expectations. ICE backing, Druckenmiller investing and Elon tweeting have made the story widespread. The easy HYPE trade looks over for average retail investors, though this call could be early. x.com x.com
Hyperliquid's buybacks return value to HYPE holders as its trading business grows. Its 2025 token buybacks totaled $817.79 million, more than Robinhood's $653 million in stock repurchases. Traditional finance moving onchain could bring hundreds of trillions in digital assets and quadrillions in derivatives volume; even at today's price, HYPE still has 100x potential. x.com x.com
Hyperliquid Strategies is an accretive, well-executed way to own HYPE for investors who aren't on-chain. Its share issuance isn't cashed out but added to the balance sheet as HYPE, and it has zero debt and over $1 billion in assets. Strategy issued heavily yet rose 42x from its 2022 low to its 2025 high, and from low to high Hyperliquid Strategies has actually outperformed HYPE itself. x.com x.com x.com
Hyperliquid's valuation looks stretched against what serious markets pay for exchanges, and perpetual futures have been, and always will be, a niche product with no real moat. x.com
Hyperliquid Strategies (PURR) is positioned to absorb all of the current HYPE selling and then some. It is the best-run digital asset treasury by far, with no debt and a conservative, opportunistic accumulation strategy. Per @MarketsAlpha, Arthur Hayes, an entity linked to Andrew Kang and SideShift founder Andreas Brekken have been selling HYPE, while Hyperliquid Strategies is TWAPping more than $10M through Anchorage. x.com
ICE and trade[XYZ]'s planned 24/7 US perps venue could widen Hyperliquid's buyer pool. It needs CFTC approval; ICE is investing in trade[XYZ], and Druckenmiller is also joining. Per the FT, his spokesperson confirmed his post was authentic. Druckenmiller and Elon green-lighting HYPE signals TradFi allocators. Crypto natives remain underallocated due to short time horizons; HYPE is the first investable altcoin in history not reliant on belief in a monetary premium. x.com x.com x.com x.com
All HYPE bears have been liquidated while sidelined bulls remain, leaving Hyperliquid's token headed higher. Everyone called it the most crowded trade. An attached chart pairs the move with trade[XYZ]'s announcement that it and ICE are bringing 24/7 perpetual futures on Hyperliquid to the US. x.com
Hyperliquid's institutional case strengthens because NYSE owner ICE plans a regulated perpetual-futures market on its network. ICE has also taken a stake in a linked project; institutional interest in HYPE is clear. x.com
