🔊 𝐇𝐲𝐩𝐞𝐫𝐥𝐢𝐪𝐮𝐢𝐝 $𝐇𝐘𝐏𝐄 𝐦𝐚𝐲 𝐛𝐞 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡𝐢𝐧𝐠 𝐢𝐭𝐬 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐭𝐞𝐬𝐭 𝐲𝐞𝐭 ▪️Not volume ▪️Not revenue ▪️Not competition 👉 Regulation The CFTC is openly discussing perpetuals, 24/7 markets, and on-chain trading frameworks while Hyperliquid's policy team is actively engaging in those conversations. That's undeniably bullish for adoption. But it also creates a fascinating question: If a protocol starts operating within regulatory guardrails, where exactly is the line between a decentralized exchange and a highly efficient centralized one? The next phase of crypto may not be about whether DeFi wins. It may be about how much decentralization survives after DeFi wins. $BTC $ZEC #HYPEAllTimeHigh