$HYPE is so crazy because even though we are up a few Xs on that - the thesis is just getting STRONGER.

Why? Because when the market goes up - more and more people are opening leveraged positions and use perps to trade ALTs (I'm not a fan, but it's a fact)

The more ALTs pump -> the higher $HYPE's revenue go -> more buysbacks on $HYPE

It's a simple flywheel that worked during the bear market ( $HYPE was almost always top 3 in revenue), so just think about the potential in the bull market?

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