![\"Hyperliquid](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/HYPEUSDT_2026-03-11_15-20-28.png?resize=1024%2C502\")
<\/p>\n","protected":false},"excerpt":{"rendered":"Daniel Cheung, co-founder of Syncracy Capital, says Hyperliquid\u2019s native token HYPE is beginning to resemble Solana\u2019s setup before its last major run, arguing that the protocol has become the clearest center of real trading activity in crypto. In a series of posts on X over the past month, Cheung laid out an increasingly aggressive thesis: Hyperliquid is not just outperforming within crypto, but could emerge as a broader financial trading platform with appeal beyond the sector.<\/p>\n
Cheung\u2019s most direct comparison came this week. \u201cHYPE at $35 feels similar to SOL at $20 before its last cycle rally,\u201d he wrote, framing Hyperliquid as an early-stage winner before a broader market expansion. He tied that view to what he sees as the protocol\u2019s current market position: \u201cHyperliquid is currently the main chain where trading activity is happening and the only chain bringing new users into crypto right now given its offering around 24\/7 markets.\u201d<\/p>\n
What Cheung appears to be invoking is Solana\u2019s move from a battered late-2022 asset into one of the cycle\u2019s biggest winners. After trading around $8 at the end of 2022 and still hovering near $23 in September 2023, SOL eventually climbed to a fresh all-time high of $295.83 in mid-January 2025. From a $20 reference point, that would imply a rally of roughly 1,379%.<\/p>\n
That argument is notable because it does not rest primarily on meme-driven activity, which has often powered attention cycles elsewhere. Cheung said Hyperliquid is \u201cgaining significantly more media attention and respect\u201d because its use cases are \u201ccentered around much more than dogshit memes.\u201d In his telling, that gives the project a stronger foundation if speculative conditions improve again.<\/p>\n
Across several posts, Cheung repeatedly described Hyperliquid less as a single-app crypto trade and more as a category-defining trading venue. On Feb. 28, he wrote, \u201cBecoming more clear by the day that Hyperliquid is the financial trading platform of the future and that generational wealth will be made longing this coin. Think this has a chance to flip Robinhood, Interactive Brokers etc\u2026 Hyperliquid is out innovating peers.\u201d<\/p>\n
That is a large claim, and Cheung presented it as a product and market-structure thesis rather than a short-term price call alone. His view appears to hinge on two linked assumptions: first, that perpetual futures become a much larger category than the market currently prices in, and second, that Hyperliquid captures a disproportionate share of that expansion because it is already where users are trading.<\/p>\n
He made that point more explicitly on Feb. 12, when he said investors were missing \u201ctwo things\u201d in the current market. The first was that \u201cHYPE is the most exciting startup not in AI and will eventually flip COIN and HOOD.\u201d The second was that \u201cthe perps category will be bigger than anyone expects,\u201d adding that another asset, LIT, looked deeply undervalued relative to HYPE on a fee basis.<\/p>\n
Cheung\u2019s posts also make clear that timing matters. On March 9, he said \u201cHYPE to $120+\u201d would be \u201cpretty easy once the crypto bull market comes back,\u201d before adding: \u201cWe are close.\u201d That suggests his target is not based on Hyperliquid operating in isolation, but on the idea that a renewed bull phase would amplify an already strong relative position. Notably, BitMEX founder Arthur Hayes recently argued that HYPE could reach $150 until August this year.<\/p>\n
At press time, HYPE traded at $36.16.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Daniel Cheung, co-founder of Syncracy Capital, says Hyperliquid\u2019s native token HYPE is beginning to resemble Solana\u2019s setup before its last major run, arguing that the protocol has become the clearest center of real trading activity in crypto. In a series of posts on X over the past month, Cheung laid out an increasingly aggressive thesis:…<\/p>\n","protected":false},"author":1,"featured_media":10478,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[55,2288,2291,2292,2294,3350,174,109],"class_list":["post-10477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-cryptocurrency-market-news","tag-hype","tag-hype-news","tag-hype-price","tag-hyperliquid","tag-hyperliquid-news","tag-sol","tag-solana"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/10477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=10477"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/10477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/10478"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=10477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=10477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=10477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}