Round 2 of delayed reactions between equity markets and crypto markets. Since yesterday's 4pm ET equity market close, $HYPE is up 4.2% to $48.31. The largest $HYPE DAT ($PURR) is up 11.9%. If HYPE were up the same amount it would be trading at $51.89. Although there are ETFs now (just launched by 21Shares and Bitwise), volumes are still growing in those vehicles and are significantly less than PURR at the moment. In my opinion this (temporary) outperformance is more a function of the scale of equity market vs. crypto market flows and not due to mNAV expansion in the DAT. If that's the case, like we saw last week, we should see a big catchup move in the HYPE token to close to the move PURR has had today. We'll see

Continuing to see a massive divergence between $HYPE $VVV $ZEC and the rest of the market

The $HYPE TGE occurred 536 days ago.

$PURR up 12% today, biggest volume candle on the chart, breaking out of a 5-month base. Hyperliquid Strategies. And someone just swept $9 calls ABOVE ask for $129.5K while also stacking June and December positions. Multiple expiries. All calls. All buys. 🐂 $7.09 holds = channel measured move hits $9.50–10. 🐻 $7.09 fails = back in the box, $6.31 support test. ⚠️ You on $PURR or sleeping on it? Flow is screaming 👇 #PURR #Hyperliquid #DeFi #Crypto #OptionsFlow #hovdid

No investors No paid market makers No fees to the dev team No insiders @HyperliquidX

the absolute best case scenario for hyperliquid:native is to fully decouple from Bitcoin no other coin has pulled this off long term HYPE has the best shot at it given how strong the tokenomics are (buybacks) + the product market fit it's found

DAT buy pressure was not on my bingo card but looks like we might see another $HYPE demand driver

The $HYPE TGE occurred 536 days ago. You had 536 days to accumulate before TradFi started.