HYPE +12% today while most alts are just getting off the floor.
Here's what's actually driving it ā and it's not hype:
š¹ HIP-3 (permissionless perps): Hit $3B in RWA Open Interest ā a new all-time record
š¹ SpaceX IPO launched on Nasdaq ā SPCX perpetual on Hyperliquid did $1.4B in volume in ONE day
š¹ Every trade ā protocol fees ā HYPE buybacks & burns ā deflationary pressure
š¹ Monthly active users: UP 21.8% to 220,760 ā DURING the bear market crash
The flywheel:
More volume ā more fees ā more buybacks ā higher price ā more traders ā repeat.
HYPE's OI just overtook $XRP in futures open interest ($2.49B).
The $75 ATH from June 1 is back in view.
This is what a protocol with real revenue looks like.
#Hyperliquid #Web3
āāā
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