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Why sell HYPE when the catalysts for the next leg up are this massive? Only 22% of the supply is circulating, with a consistent daily buyer underneath. That creates a completely different market structure. THYP, BHYP, and HYPG are all live, with total inflows into HYPE ETFs sitting around 130 million dollars. FalconX estimates ETF flows absorbed roughly 0.4-0.5% of HYPE's market cap in the first week alone, faster than BTC, ETH, and SOL on a relative basis. We also have European ETPs live on Xetra, staking products, and Hyperliquid Strategies filing for a 1 billion dollar IPO just to buy and stake HYPE. TradFi buyers aren't panicking because Arthur sold his bags. I actually see this as supply being distributed into stronger, longer-term hands. The CFTC's approval of US-listed perpetual futures is another huge signal for Hyperliquid. As institutions start taking perpetuals seriously, the exchange that runs the most liquid 24/7 onchain perpetuals becomes impossible to ignore. Hyperliquid was already trading exotic stuff before TradFi even opened. Bloomberg literally used Hyperliquid oil futures as a weekend signal during geopolitical chaos. Exposing perpetual futures before SpaceX's IPO via HIP-3 happened before anything similar existed in traditional markets. Names like Stripe, Databricks, OpenAI could follow. Hyperliquid could become the pre-IPO price discovery venue before stocks even exist on public markets. So I only see Hyperliquid capturing more value, more buy pressure, and a growing supply shock. Most of crypto is still deep off its highs, while HYPE is up 140% year-to-date. In my opinion, this is one of the better ways to hedge a crypto portfolio. Another point that resonates with me: some large funds may be accumulating HYPE to launch their own HIP-4 markets after seeing what HIP-3 achieved. I know unlocks are still there, but the market has absorbed multiple months of unlocks already. The market hates unclear unlocks more than known ones. A...