Weiss also pointed to market structure risk. \u201cRight now, Hyperliquid has the clear first-mover advantage. But that doesn\u2019t mean a powerful disruptor can\u2019t emerge.\u201d That gets at a familiar tension in crypto trading infrastructure. Early dominance can look durable, particularly when liquidity, activity and attention reinforce each other, but it can also invite direct attacks from better-capitalized or more aggressive rivals.<\/p>\n
The third risk is regulatory. \u201cUS residents will likely stay geoblocked on the official front-end \u2014 and sector growth subdued \u2014 until regulation clears.\u201d In other words, Weiss sees the addressable market as constrained for now, not because the product lacks traction, but because access and broader sector expansion remain tied to unresolved policy conditions.<\/p>\n
That warning landed alongside a much more constructive argument about HYPE itself. In a separate post built around an infographic, Weiss called the token design \u201cTokenomics done right.\u201d The graphic described what it labeled \u201cThe powerful feedback loop,\u201d a flywheel in which rising platform activity leads to more trading, more protocol fees, more token buybacks, and less circulating supply.<\/p>\n
![\"Hyperliquid](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/HDKEi2kbcAAWL2y-1.jpg?resize=1024%2C576\")
<\/p>\n
The centerpiece of that thesis is fee deployment. According to the infographic, \u201c97% of trading fees used to buy HYPE tokens.\u201d From Weiss\u2019s framing, that mechanism is what turns platform usage into direct token support. As activity grows, \u201cbuyback accelerates,” \u201ccirculating supply declines,\u201d and the token\u2019s “appreciation potential\u201d increases alongside the possibility of drawing in still more activity.Weiss also highlighted the scale of the mechanism with a headline figure: \u201cDuring 2025 alone, the protocol burned roughly $1 billion worth of HYPE tokens.\u201d That number sits at the center of the bullish case.<\/p>\n
Another Weiss post tried to show that demand in action during a market stress event. \u201cOn Sunday, as tensions escalated in the Middle East, Hyperliquid hit a major milestone. It processed $1B+ in oil-related trading volume. Why? Because traditional oil markets were closed for the weekend. Decentralized markets never sleep.\u201d<\/p>\n
Weiss paired that post with Bitwise CIO Matt Hougan\u2019s earlier observation that when President Donald Trump announced an attack on Iran at 2:30 am Sunday, US, European and Asian markets were closed, while \u201cHYPE was open.\u201d<\/p>\n
Taken together, the message from Weiss is not complicated, but it is nuanced. The outlet sees Hyperliquid as a live example of crypto infrastructure capturing flows when legacy markets are unavailable, and it views HYPE\u2019s fee-and-burn design as unusually strong.<\/p>\n
At the same time, it is signaling that even a token backed by an active buyback loop is still exposed to unlock calendars, rival platforms and the slower-moving reality of US regulation.<\/p>\n
At press time, HYPE traded at $37.87.<\/p>\n
![\"Hyperliquid](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/HYPEUSDT_2026-03-12_14-39-27.png?resize=1024%2C502\")
<\/p>\n","protected":false},"excerpt":{"rendered":"
Weiss Crypto is making a two-sided case on Hyperliquid\u2019s HYPE token: bullish on the protocol\u2019s fee-driven tokenomics, but clear that investors should not mistake momentum for the absence of risk. In a series of posts over the past days, the research outlet argued that HYPE\u2019s buyback-and-burn structure remains a core strength even as token unlocks,…<\/p>\n","protected":false},"author":1,"featured_media":10498,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[55,2288,2291,2292,2294,3350,3351],"class_list":["post-10497","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-hyperliquid-price"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/10497","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=10497"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/10497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/10498"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=10497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=10497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=10497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}