Beyond Bitcoin, BNB and HYPE are the only two crypto assets with relatively high certainty. HYPE has gone into beast mode even in a bear market, rising from $20-plus to $60-plus, and it remains a top pick. Glassnode said HYPE is the most requested asset for new on-chain metrics. Rival Aster, by contrast, is retreating to small-cap, high-volatility assets after HYPE took the TradFi and RWA opportunity, which limits its ceiling. 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 

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 

Zcash and Hyperliquid could face less selling pressure because they have newer, stronger narratives than NEAR and fewer holders waiting to sell at breakeven. Their appeal this cycle rests on narrative and hype; they look like this cycle's Ether and Solana. 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's HYPE will likely always trade at the highest revenue premium because of trust in its team and its many income streams, some of them, such as stablecoin yield, independent of the market. The product is incredibly sticky, the team is probably the most aligned with its own success of any project in crypto history, and it performed well in the bear market, revenue included. That is part of what buyers pay for when it is compared with other successful projects. x.com 

Hyperliquid's HYPE remains a great token, but other coins edge it out in the near term. It has unrivaled tokenomics and value accrual, clear product-market fit and a high-trust team. Price action looks locally distributive, though within a long uptrend, and part of its value is speculative premium. Well-funded perps competitors and regulatory openings for other venues are starting to play out. It could turn around at any point and is worth buying back, possibly soon. x.com  x.com  x.com 

Binance's spot listing of Hyperliquid's HYPE token is likely its short-term top. Per @coinbureau, HYPE surged near $95 on the announcement. @Kaffchad argues Binance only validates existing volume and retail will chase well past $95; the reply is that this marks the short-term top. x.com  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