I looked into Elysium’s first-day performance. As Hyperliquid’s first L2, its activity and technical metrics are quite impressive. Trading volume stands out compared with HyperEVM, while address and launch activity are booming—an undeniably strong start for a new L2. But compared with the community’s pre-launch excitement, it’s clear that interest has declined considerably. The boom, driven mainly by launchpads and meme coins, has created quite a divergence in expectations, and early figures are inherently noisy. The number of genuinely sustainable users and the depth of liquidity remain to be seen.
The most important point is that most retail traders, held back by information gaps, tools, fees, and slippage, can’t get in on these early opportunities. And $HYPE hasn’t seen a corresponding transfer of value, so in the end, it’s just been a spectacle to watch.
The most important point is that most retail traders, held back by information gaps, tools, fees, and slippage, can’t get in on these early opportunities. And $HYPE hasn’t seen a corresponding transfer of value, so in the end, it’s just been a spectacle to watch.
