🐳 MACHI CUTS HIS HYPE LONG BY 66%—BUT KEEPS A $99M ETH LONG Yesterday’s snapshot showed Machi holding 202,000 HYPE after increasing his position by 57%. Now, that HYPE long is down to 69,000 tokens—a net reduction of 133,000 HYPE, or 65.8%. Position changes since yesterday: • HYPE: 202,000 → 69,000 • BTC: 555 → 540 • ETH: 39,100 → 39,250 His remaining Hyperliquid longs: • ETH: $98.88M • BTC: $42.13M • HYPE: $5.51M Total long exposure: $146.51M, backed by ~$6.44M in perp account equity—roughly 22.7x exposure-to-equity. The ETH long currently carries ~$1.44M in unrealized profit. A sharp reduction in HYPE. A near-$99M ETH long still in place. Snapshot: Sep. 14, 10:15 UTC.🧵

HYPERLIQUID BURNS $1.39M HYPE IN 24 HOURS Hyperliquid bought and burned 17.71K $HYPE (~$1.39M) over the past 24 hours at a $78.37 VWAP. A total of 48.60M $HYPE, currently worth ~$3.88B, has been permanently removed from supply. That represents 4.86% of HYPE’s 1B max supply. @HyperliquidX

HYPE’s path to $319 comes down to one thing: can Hyperliquid scale earnings fast enough? Multicoin projects derivatives volume rising from $2.9T in 2025 to $20.2T by 2028, with a $160B valuation implying roughly $319 per HYPE. The biggest risk is whether earnings can outpace the growing token supply.

there are 442M $HYPE staked at 2.2% APR, that’s 9.72M HYPE per year, so less than 1% of the initial supply distributed each year ($778M at $80 per HYPE) of those rewards, 68% goes to HyperLabs and the Hyper Foundation because they’re staking most of the $HYPE and they haven’t even touched a single $HYPE earned through their staking rewards so that’s only 3.11M $HYPE distributed to other stakers each year, or 0.31% of the initial supply ($249M), while annual buybacks are actually $810M+ and with AQAv2 they’re going to reach $970M+ 👍🏻

Perp/spot at 6.7x on $HYPE. Healthiest ratio on the board. $HYPE +1.15% to $79.99, funding +0.00122%/8h on Hyperliquid. HL spot volume $51M vs $1.67B OI. Buybacks $1.32B cumulative, ETF net -$8.2M Friday. Shorting into a buyback bid is wrong. Loses $74 invalidates the long. $HYPE

🚨 TOP 15 WALLETS SPENDING THE MOST ON PRIORITY GAS ON HYPERLIQUID On Hyperliquid, speed isn’t free. Top 15 wallets by total HYPE spent on priority gas: 29.54K HYPE 21.74K HYPE 11.37K HYPE 9.91K HYPE 5.14K HYPE 3.55K HYPE 3.46K HYPE 3.42K HYPE 3.37K HYPE 2.35K HYPE 1.70K HYPE 1.30K HYPE 1.18K HYPE 1.17K HYPE 966.5 HYPE The #1 wallet has spent roughly 29,540 HYPE just to secure priority. This shows that the game on Hyperliquid isn’t only about who has more capital. For some traders, bots, and market makers, milliseconds have a price — and they’re willing to pay in HYPE for speed. Same chain. Different execution game.

Frankly speaking, many HyperEVM shitters are falling behind and underperforming merely by the fact that Hyperliquid is not available on @fomo now. Lame fact, but that's the truth. I know some that could run wildly.

$NBIS & $IREN are already recovering in hyperliquid markets. Those who sell tomorrow will end up being some of the dumbest investors this world has ever seen.