📰 The reason HYPE was thrust into the spotlight this time wasn’t just the sudden price spike, but also Trump mentioning Hyperliquid directly in public. For many investors, U.S. regulation had long been a hard-to-ignore question, but this public mention at least made the market start reassessing the possibility of its entry into the U.S. market.
🔥 Ryan Watkin, co-founder of Syncracy Capital, said the team had already put Stars-related features into the public testnet as early as July and August. Based on Hyperliquid’s past pace, the average time from testnet to mainnet is about three months, and at most no more than six months. In other words, HIP-3 was not news that suddenly appeared; the platform had actually been preparing for some time.
To be honest, Ryan’s initial reason for being bullish on HYPE was also very straightforward: at the time, the valuation was about $3 billion, annualized revenue was about $200 million, and in the early days, to get the token, users needed to bridge assets to Hyperliquid first and then actually use the platform themselves. This mechanism unintentionally brought in real users and real trading activity.
💡 The bigger upside lies in Hyperliquid’s desire to do more than just an on-chain perpetuals platform. With cross-margin portfolio support, spot markets, HIP-3, and compliance-related features moving forward, it is trying to let users trade more types of financial instruments using different assets as collateral, aiming to take market share from centralized exchanges and even reach into the traditional derivatives market.
👀 Ryan believes what really matters is not the fees from any single month, but market share, penetration into the CFD and futures/options markets, trading volume and protocol revenue growth, as well as net deposits and changes in account assets. I think this judgment is pretty key: short-term news will pass, but whether the platform can continue attracting real traders is what determines how far this can go.
🤔 Do you think Hyperliquid will eventually become a larger on-chain trading platform, or will it get stuck at the hurdle of regulation and competition with traditional markets?
#HYPE #Hyperliquid #链上交易 #Web3
🔥 Ryan Watkin, co-founder of Syncracy Capital, said the team had already put Stars-related features into the public testnet as early as July and August. Based on Hyperliquid’s past pace, the average time from testnet to mainnet is about three months, and at most no more than six months. In other words, HIP-3 was not news that suddenly appeared; the platform had actually been preparing for some time.
To be honest, Ryan’s initial reason for being bullish on HYPE was also very straightforward: at the time, the valuation was about $3 billion, annualized revenue was about $200 million, and in the early days, to get the token, users needed to bridge assets to Hyperliquid first and then actually use the platform themselves. This mechanism unintentionally brought in real users and real trading activity.
💡 The bigger upside lies in Hyperliquid’s desire to do more than just an on-chain perpetuals platform. With cross-margin portfolio support, spot markets, HIP-3, and compliance-related features moving forward, it is trying to let users trade more types of financial instruments using different assets as collateral, aiming to take market share from centralized exchanges and even reach into the traditional derivatives market.
👀 Ryan believes what really matters is not the fees from any single month, but market share, penetration into the CFD and futures/options markets, trading volume and protocol revenue growth, as well as net deposits and changes in account assets. I think this judgment is pretty key: short-term news will pass, but whether the platform can continue attracting real traders is what determines how far this can go.
🤔 Do you think Hyperliquid will eventually become a larger on-chain trading platform, or will it get stuck at the hurdle of regulation and competition with traditional markets?
#HYPE #Hyperliquid #链上交易 #Web3
