$HYPE is down 3.5% on the day and still up 4.13% on the week. I'd buy that dip, not fade it.

Hyperliquid's own account says manual borrows are live on portfolio margin, with 269 million USD borrowed today and HYPE accepted as collateral. that's the project grading itself, so take the number as a claim. but people don't post a coin as collateral when they plan to dump it.

Kraken's parent planning US Hyperliquid perps is the other tell. a big regulated name copying your product is the loudest compliment a venue gets.

$HYPE trades at $85.76 right now, inside a 24h range of $84.83 to $89.19. if it holds $84.83, I think it walks back to $89.19. if it loses $84.83, I'm wrong on this and there's nothing to defend. if you bought this dip, that's the level where your bounce failed.

holding $84.83 or losing it?

follow me for more calls like this.