• Bear case: ~$109
• Bull case: ~$689
Key figures from the report: revenue of $873 million in 2025, open interest of $9.6 billion - more than all DeFi competitors combined, and a 59% market share in Perp contracts within DeFi. Monthly Perp volume already accounts for 17% of Binance’s, whereas two years ago it was zero.
🟩 HYPE is now one of the largest positions in their liquid fund.
Current balance: $452.9M
Total PNL: +$244.0M
YTD: +116.83%
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➕ HYPE $64.4 🚀
