Why is HYPE going against the tide and thriving on its own?

Hyperliquid has fought two particularly impressive battles.

The first battle was when Binance was rapidly listing VC coins at the time. Hyperliquid coordinated by launching futures contracts earliest, so a large number of people watched Binance's listing announcements and went to Hyperliquid to short. In this battle, Hyperliquid captured significant traffic and users from the crypto space.

The second battle is the recent Iran conflict. Hyperliquid shined brightly thanks to crude oil trading, with Bloomberg, New York Times, and numerous mainstream media outlets outside the crypto circle reporting on Hyperliquid. In this battle, Hyperliquid stepped out of the crypto space and entered the mainstream.

Currently, Hyperliquid has started to feel like Polymarket in the eyes of mainstream audiences. This is also the honor of two major crypto-native projects receiving mainstream recognition in this cycle.

Aster, in comparison, looks quite dim. It's unclear whether it's path dependency, but it's still spinning around within the circle.

Of course, you can see that CZ tried hard, tweeting diligently enough. But CZ can't just watch Hyperliquid continue being so impressive, right? 😂 One is valued at 40 billion, the other at 5.5 billion. The market cap difference is already nearly 8 times. At 0.7, Aster is completely a price to build positions. That's much better than buying HYPE at 40+ now. #TradFi首创多倍杠杆