#  @koolkrypto223 KoolKrypto KoolKrypto posts on X about $hype, hype, $lit, lit the most. They currently have [-----] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours. ### Engagements: [-----] [#](/creator/twitter::1982595844747743233/interactions)  - [--] Week [-----] -32% - [--] Month [------] -85% ### Mentions: [--] [#](/creator/twitter::1982595844747743233/posts_active)  - [--] Month [--] -72% ### Followers: [-----] [#](/creator/twitter::1982595844747743233/followers)  - [--] Week [-----] +5.70% - [--] Month [-----] +55% ### CreatorRank: [---------] [#](/creator/twitter::1982595844747743233/influencer_rank)  ### Social Influence **Social category influence** [cryptocurrencies](/list/cryptocurrencies) [finance](/list/finance) [exchanges](/list/exchanges) [technology brands](/list/technology-brands) [stocks](/list/stocks) [financial services](/list/financial-services) [luxury brands](/list/luxury-brands) [automotive brands](/list/automotive-brands) **Social topic influence** [$hype](/topic/$hype) #496, [hype](/topic/hype) #1867, [$lit](/topic/$lit) #20, [lit](/topic/lit) #285, [if you](/topic/if-you), [hyperliquid](/topic/hyperliquid), [$kntq](/topic/$kntq), [$btc](/topic/$btc), [bearish](/topic/bearish), [bullish](/topic/bullish) **Top accounts mentioned or mentioned by** [@lighterxyz](/creator/undefined) [@hyperliquidx](/creator/undefined) [@prjxhl](/creator/undefined) [@skyiszen](/creator/undefined) [@hyperliquid](/creator/undefined) [@extendedapp](/creator/undefined) [@ryskfinance](/creator/undefined) [@derivexyz](/creator/undefined) [@variationalio](/creator/undefined) [@bybitofficial](/creator/undefined) [@kinetiqxyz](/creator/undefined) [@wuppertfutures](/creator/undefined) [@ethenalabs](/creator/undefined) [@playrisk](/creator/undefined) [@specialistxbt](/creator/undefined) [@pondermint](/creator/undefined) [@nativemarkets](/creator/undefined) [@lighter](/creator/undefined) [@loraclexyz](/creator/undefined) [@hyenatrade](/creator/undefined) **Top assets mentioned** [Hyperliquid (HYPE)](/topic/$hype) [Litentry (LIT)](/topic/$lit) [Bitcoin (BTC)](/topic/$btc) [Ethereum (ETH)](/topic/$eth) [Solana (SOL)](/topic/$sol) [USDH (USDH)](/topic/$usdh) [Ethena (ENA)](/topic/$ena) [Coinbase Global Inc. (COIN)](/topic/coinbase) [Plasma (XPL)](/topic/$xpl) [Jupiter (JUP)](/topic/$jup) [Robinhood Markets, Inc. (HOOD)](/topic/$hood) [USDC (USDC)](/topic/usdc) [Aster (ASTER)](/topic/$aster) [NVIDIA Corp. (NVDA)](/topic/$nvda) [Zcash (ZEC)](/topic/$zec) [First Digital USD (FDUSD)](/topic/$fdusd) [MON Protocol (MON)](/topic/$mon) [Universal Currency (UNIT)](/topic/$unit) ### Top Social Posts Top posts by engagements in the last [--] hours "Starting scaling into $SOL for a bounce around $130 as planned. Was $145 when I made that post. Be patient and stick to your plan. Also trying out @Lighter_xyz now. It's good for $BTC $ETH and $SOL at least Damn $SOL looks like shit here I'm not even sure I wanna buy the dip on ts. Maybe sub [---] Damn $SOL looks like shit here I'm not even sure I wanna buy the dip on ts. Maybe sub 130" [X Link](https://x.com/koolkrypto223/status/1990806542011281432) 2025-11-18T15:37Z [--] followers, [---] engagements "Set a $1m TWAP over night when $BTC was dropping into the 80s. Dip=bought" [X Link](https://x.com/koolkrypto223/status/1990807009890087243) 2025-11-18T15:39Z [--] followers, [--] engagements "Bleed into FOMC liq late shorts on $NVDA earnings resume bleed Prepared to catch some wicks either way" [X Link](https://x.com/koolkrypto223/status/1991183687162236989) 2025-11-19T16:36Z [--] followers, [--] engagements "Bleed into FOMC liq late shorts on $NVDA earnings resume bleed Prepared to catch some wicks on $BTC and $HYPE either way" [X Link](https://x.com/koolkrypto223/status/1991185566650757631) 2025-11-19T16:43Z [--] followers, [---] engagements "Not sure people realize that high funding is also potentially an onboarding mechanism to @HyperliquidX for people who want to hedge $NVDA. They'll reach equilibrium eventually but it's going to catch TradFi eyes. if you move size and don't want to singlehandedly push funding up to triple digits on tradfi trade on ostium if you move size and don't want to singlehandedly push funding up to triple digits on tradfi trade on ostium" [X Link](https://x.com/koolkrypto223/status/1991187260604313952) 2025-11-19T16:50Z [--] followers, [---] engagements "@SylvesterSolid @Lamboland_ @prjx_hl I think it's less that they are fading @Lamboland and @prjx_hl and more so that they are fading DEXs in general and projects on the HyperEVM. It's easily the best DEX on there but @HyperSwap $SWAP disappointed a lot of people. What do you value @prjx_hl points at now" [X Link](https://x.com/koolkrypto223/status/1991192321136754882) 2025-11-19T17:10Z [--] followers, [--] engagements "No rush to hero long this $BTC bleed. Staggered orders down slowly getting fills but this type of price action almost always ends in a swift nuke or a long consolidation. You will have time to get good entries. Wick into high 70s is a must long imo. Prepare for both paths" [X Link](https://x.com/koolkrypto223/status/1991221606828634476) 2025-11-19T19:06Z [--] followers, [---] engagements "@Henrik_on_HL I think once onboarding to @HyperliquidX becomes easier perp equities will eat a ton into the 0DTE equities options crowd" [X Link](https://x.com/koolkrypto223/status/1991227874662064542) 2025-11-19T19:31Z [--] followers, [--] engagements "Update Day 3: Crossed $20k in fees loving this volatility on $HYPE. What do you guys think @prjx_hl points will be worth Update Day 2: LP still in range gladly buying more HYPE here on this dip. If I close early it will be because I want to lock in the HYPE exposure. Otherwise [--] fig fees here we come 👀 https://t.co/JDww4gbfGY Update Day 2: LP still in range gladly buying more HYPE here on this dip. If I close early it will be because I want to lock in the HYPE exposure. Otherwise [--] fig fees here we come 👀 https://t.co/JDww4gbfGY" [X Link](https://x.com/koolkrypto223/status/1991255596289687816) 2025-11-19T21:21Z [--] followers, [---] engagements "Update Day 4: $30k milestone reached only $70k to go $HYPE in this pretty tight range is still printing fees. @prjx_hl points coming in fast too. Looking at doing $BTC and $ETH LP's with $HYPE too as I expect more consolidation in those ratios. Update Day 3: Crossed $20k in fees loving this volatility on $HYPE. What do you guys think @prjx_hl points will be worth https://t.co/rp0W0E3Bco Update Day 3: Crossed $20k in fees loving this volatility on $HYPE. What do you guys think @prjx_hl points will be worth https://t.co/rp0W0E3Bco" [X Link](https://x.com/koolkrypto223/status/1991639507230421497) 2025-11-20T22:47Z [--] followers, [---] engagements "@felixdoteth @prjx_hl Don't worry my spot holdings are getting sent to the shadow realm just like everyone else. Fortunately I'm very $HYPE heavy" [X Link](https://x.com/koolkrypto223/status/1991640998070612110) 2025-11-20T22:53Z [--] followers, [--] engagements "I'm unconvinced by volume as a metric of success for alternative perp dexes to @HyperliquidX so while this pump in HIP3 market volume might create splashy headlines it is likely overwhelmingly wash trading in hopes of $UNIT or $HYPE airdrops" [X Link](https://x.com/koolkrypto223/status/1993704359256047755) 2025-11-26T15:32Z [--] followers, [--] engagements "Open interest is really what we need to be looking at for @Hyperliquid breaking into the massive TAM that is tokenized equities. I have a hard time believing that will happen until funding rates are arbed down to a more reasonable carry rate" [X Link](https://x.com/koolkrypto223/status/1993705610945446128) 2025-11-26T15:37Z [--] followers, [--] engagements "What are we thinking in terms of FDV at launch or $ per $KNTQ point I'm thinking $5-6 per point. This will definitely be the barometer for other HyperEVM launches @hyperlendx @felixprotocol @prjx_hl points could rerate dramatically after this Tomorrow $KNTQ launches on @HyperliquidX paired with USDH by @nativemarkets as the quote token. https://t.co/X3ukVDiVta Tomorrow $KNTQ launches on @HyperliquidX paired with USDH by @nativemarkets as the quote token. https://t.co/X3ukVDiVta" [X Link](https://x.com/koolkrypto223/status/1993706495465386047) 2025-11-26T15:40Z [---] followers, [---] engagements "A huge part of the $HYPE bull thesis and even cult is trust in Jeff as a founder. This guy comes off like a worse Charles Hoskinson. Genuinely bearish $LIGHTER @corgil We have a team for that. Unlike founders that don't know how to hire and manage @corgil We have a team for that. Unlike founders that don't know how to hire and manage" [X Link](https://x.com/koolkrypto223/status/1993773907762204790) 2025-11-26T20:08Z [--] followers, [---] engagements "@Leonardo_Web3 @hyperlendx @felixprotocol @prjx_hl That's right where $5/point lands I believe. But if any coin could break the HyperEVM curse and be slept on at first and then have people fomo into it it'd probably be this" [X Link](https://x.com/koolkrypto223/status/1993778144785125439) 2025-11-26T20:25Z [--] followers, [--] engagements "@skyiszen @lighter I've been using both. You're possibly right for just $BTC $ETH and $SOL. But you're ignoring the point that once points end volume and OI goes way down spreads increase and cost of execution probably becomes worse all in. It's also been pretty spotty during high vol (10/10)" [X Link](https://x.com/koolkrypto223/status/1993780183195897923) 2025-11-26T20:33Z [--] followers, [---] engagements "@pk79z This is why the real TAM for equities perps isn't passive holders it's the 0DTE options market. Infinitely superior tool for that. Eventually the funding rate will probably become 1-2% higher than most brokerage margin rates so not insane for the leverage you're getting" [X Link](https://x.com/koolkrypto223/status/1993780744658063550) 2025-11-26T20:35Z [--] followers, [--] engagements "@skyiszen Honestly for me the slight difference in fees (I'm quite discounted on HL) doesn't justify moving my trading over for a worse UI and smaller trading universe. Usually I'm just looking for arbs between the two. Doesn't change my point that this likely won't be the case post TGE" [X Link](https://x.com/koolkrypto223/status/1993782803201446196) 2025-11-26T20:43Z [--] followers, [--] engagements "@solunavaxxer @kaledora This is just two different tools though. Perps equities are meant to compete against 0DTE markets on leverage or look at TQQQ bleed. If @Hyperliquid becomes the venue for high leverage low duration trades it won. Doesn't need to compete on long term holders. It's for trading" [X Link](https://x.com/koolkrypto223/status/1993784156988559644) 2025-11-26T20:49Z [--] followers, [---] engagements "@skyiszen Yeah then you're objectively correct for now but even then the difference is pretty negligible. I'm on the fee paying account for Lighter so it's 2bps/.2bps vs 2.1/0.28bps on HL. If you aren't staking HYPE then it's worse. So day trading BTC lower volume guys Lighter is better" [X Link](https://x.com/koolkrypto223/status/1993787244818452496) 2025-11-26T21:01Z [--] followers, [--] engagements "@loraclexyz I don't think any debate is required. If it remains elevated people come in and short perps/hold underlying. It's like how CRV or SOL funding generally negative. I actually think it'll be an onboarding mechanism. 0DTE guys go 100x long hedge funds keep rates fair vs margin rate" [X Link](https://x.com/koolkrypto223/status/1993790569425117416) 2025-11-26T21:14Z [---] followers, [----] engagements "@loraclexyz You might be underestimating the Tradfi/HF appetite for a 5-7% spread that can be levered 3-4x. If Prime Brokers integrate with HL (they are) or there's some form of unified margin or spot equities these trades will become VERY popular" [X Link](https://x.com/koolkrypto223/status/1993793336759787566) 2025-11-26T21:25Z [--] followers, [---] engagements "0DTE options makes up 60% of SPX options volume and it's only going up. Stop asking why you'd hold equities perps for a year and pay 11% and start asking what happens when @Hyperliquid becomes the best and cheapest venue to place $100m+ notional overnight bets" [X Link](https://x.com/koolkrypto223/status/1993795175471304916) 2025-11-26T21:33Z [--] followers, [--] engagements "Happy Thanksgiving @kinetiq_xyz Right around $200m FDV at launch as expected too. Should have bet on @Polymarket. Porshe [---] sized airdrops are back $KNTQ 👀 The times you fade consensus are usually the trades with the most asymmetry. Everyone has been conditioned that HyperEVM tokens are a dump. @kinetiq_xyz is the first real token launch. Will bid with size sub $100m expecting $150-250m. $KNTQ launching with $USDH pair is big too The times you fade consensus are usually the trades with the most asymmetry. Everyone has been conditioned that HyperEVM tokens are a dump. @kinetiq_xyz is the" [X Link](https://x.com/koolkrypto223/status/1994044135632973986) 2025-11-27T14:02Z [--] followers, [---] engagements "@waterfasting19 @kinetiq_xyz @Polymarket Yeah I had a lot of points intentionally farmed it" [X Link](https://x.com/koolkrypto223/status/1994045630432596158) 2025-11-27T14:08Z [--] followers, [--] engagements "@theunipcs For me dumps of 30%+ are normal in crypto and good buying spots in a bull move. The problem is you're also eating 30%+ losses before realizing it's a bear market. Best you can do is scale in and out" [X Link](https://x.com/koolkrypto223/status/1994105977596199155) 2025-11-27T18:08Z [--] followers, [---] engagements "I have a bunch of Lighter points. It'll likely be my second biggest airdrop ever (after $HYPE of course). But what's the bull case for $LIGHTER post TGE Polymarket has done a good job predicting TGE FDV (see $KNTQ) and OTC points both line up with an expected $2.5-4bn FDV at TGE. Price discovery has already happened. What's the next catalyst What's the incentive to hold Why wouldn't half or more of the current @Lighter volume move on to the next perp dex farm. Isn't profitability from HFT parnets and arbitrageurs likely to plummet after all the spread-indiscriminate flow and wash trading" [X Link](https://x.com/koolkrypto223/status/1994125477280383150) 2025-11-27T19:25Z [--] followers, [--] engagements "I have a bunch of Lighter points. It'll likely be my second biggest airdrop ever (after $HYPE of course). But what's the bull case for $LIGHTER post TGE Polymarket has done a good job predicting TGE FDV (see $KNTQ) and OTC points both line up with an expected $2.5-4bn FDV at TGE. Price discovery has already happened. What's the next catalyst What's the incentive to hold Why wouldn't half or more of the current @Lighter volume move on to the next perp dex farm. Isn't profitability from HFT partners and arbitrageurs likely to plummet after all the spread-indiscriminate flow and wash trading" [X Link](https://x.com/koolkrypto223/status/1994126362861556021) 2025-11-27T19:29Z [--] followers, [---] engagements "@Etherean007 It's not that people didn't artificially inflate their volume to farm HYPE too. It's just that volume in general is a widely faked and useless statistic without context. If you think it's a good metric then you think Lighter should actually trade at a higher FDV than $HYPE" [X Link](https://x.com/koolkrypto223/status/1994239563531776410) 2025-11-28T02:58Z [--] followers, [---] engagements "@alex_hunter20 Farming $HYPE S3 and $UNIT 😎" [X Link](https://x.com/koolkrypto223/status/1994239878918221914) 2025-11-28T03:00Z [--] followers, [---] engagements "@chilla_ct @pendle_fi @boros_fi I'm so excited to use this I'm just waiting for other people to use it so it's worth using 😂" [X Link](https://x.com/koolkrypto223/status/1994241975508144321) 2025-11-28T03:08Z [--] followers, [--] engagements "@cryptovishal7 @pendle_fi @tokenterminal Probably one of the biggest discrepancies between amazing application and horrendous token. Tokenomic revamp should be huge for $PENDLE" [X Link](https://x.com/koolkrypto223/status/1994266129909395807) 2025-11-28T04:44Z [--] followers, [--] engagements "@coopernicus01 Opportunities are just more concentrated now. There are guys who farmed $HYPE bought $TRUMP and jumped on $ZEC and have no idea what bear market people are talking about. If you missed all the big moves and held alts with no value accrual is the outcome really surprising" [X Link](https://x.com/koolkrypto223/status/1994269071420854648) 2025-11-28T04:56Z [--] followers, [---] engagements "@ryandcrypto I genuinely hope future airdrops look very closely at the wallets that dumped $KNTQ day [--] before allocating their supply to them" [X Link](https://x.com/koolkrypto223/status/1994269970193146243) 2025-11-28T04:59Z [--] followers, [----] engagements "@realpeterjm Agreed people should want this too. Constant negative on funding $HYPE from too many entities attempting this would open up a world of opportunities. Interesting short squeeze implications too" [X Link](https://x.com/koolkrypto223/status/1994431970642981333) 2025-11-28T15:43Z [--] followers, [---] engagements "@jrugss @MetamateDaz There's a world where Hyperliquid should just airdrop HYPE to the points farmers on the core products on board some of the teams and bring things in house" [X Link](https://x.com/koolkrypto223/status/1994438042682085758) 2025-11-28T16:07Z [--] followers, [---] engagements "@CupOJoseph Yeah too many builders larping as "public good ecosystem contributors" expecting to exit for [--] figures. If your business contributes no value it's worth nothing" [X Link](https://x.com/koolkrypto223/status/1994460132277657881) 2025-11-28T17:35Z [--] followers, [--] engagements "@Invest_Brandon No shot you get 12% annually and make 25k a month from options. You're selling a ton of your upside to get those premiums" [X Link](https://x.com/koolkrypto223/status/1994483330339741844) 2025-11-28T19:07Z [--] followers, [--] engagements "@frankdegods Everyone still waiting for a broad "bull run" or "alt season" is likely to be disappointed. There will be sectors of clear outperformance and the high FDV garbage can continue to have anemic performance while those other sectors moon. Just the market getting more efficient" [X Link](https://x.com/koolkrypto223/status/1994490619310563668) 2025-11-28T19:36Z [--] followers, [---] engagements "@Ikh011 Typical crypto story. Great protocol bad tokenomics and value accrual" [X Link](https://x.com/koolkrypto223/status/1994844580592980073) 2025-11-29T19:03Z [--] followers, [---] engagements "@Borg_Cryptos 25bp cut is almost always bullish. The reason sometimes isn't. And in both cases it's usually priced in. Only when it's 50bp or 0bp when [--] is expected does it become generally bearish" [X Link](https://x.com/koolkrypto223/status/1994934190283071858) 2025-11-30T00:59Z [--] followers, [--] engagements "@mattbcapital @Lighter_xyz @HyperliquidX Think @Lighter_xyz could possibly outperform but TGE is almost definitely very bearish their metrics. Think it's likely you'll see a 50-75% drop in volume OI LLP TVL. Farming/wash trading will have a painful unwind. The next new shiny thing will vamp volume too" [X Link](https://x.com/koolkrypto223/status/1995252997505609940) 2025-11-30T22:05Z [--] followers, [---] engagements "I think fee compression is a generally bearish headwind sure but I don't agree with the rest. There are still billions of $HYPE earmarked for community incentives much more than the entire projected Lighter TGE. It's a very powerful lever to be able to pull. Lighter also self immolates when they turn points off. The entire reason to trade on Lighter goes away and liquidity will suffer. But there will always be another new shiny points program they need to compete against" [X Link](https://x.com/koolkrypto223/status/1995264130811679153) 2025-11-30T22:50Z [--] followers, [--] engagements "Even the most optimistic $BTC bulls on the timeline are calling this a bear trap. Before the larger bull trap at $98-108k. Not very many outright bulls left" [X Link](https://x.com/koolkrypto223/status/1995300472291209313) 2025-12-01T01:14Z [--] followers, [--] engagements "Only -45% to go for $200 $ZEC. We all really thought $ZEC rallying wasn't a risk off signal for the third straight time. Not tempted to knife catch this at all. Only accumulating $BTC and $HYPE on this dump so far. Scary to short but there's not a great track record in crypto of a previous flavour of the month losing it's status and reclaiming it again later. $200 beckons $ZEC https://t.co/Y9kJdDr9xQ Scary to short but there's not a great track record in crypto of a previous flavour of the month losing it's status and reclaiming it again later. $200 beckons $ZEC https://t.co/Y9kJdDr9xQ" [X Link](https://x.com/koolkrypto223/status/1995363098639884750) 2025-12-01T05:23Z [--] followers, [---] engagements "We know many of the $BTC bulls wanted to short $98-107k and didn't get it. Where do the $BTC bears want to long from (and likely won't get) Saylor cost basis and Tariff Tantrum wick at 74k Previous ATH at 68k We're at bearish euphoria I expect calls for 12k at this rate" [X Link](https://x.com/koolkrypto223/status/1995366971840270750) 2025-12-01T05:38Z [--] followers, [--] engagements "@WuppertFutures That's fair. My main point is that my main (only) reason to use Lighter right now is to farm points and keep money in LLP. Once those are gone it's unlikely I'll use it much. Also I use ETH every day but I'm not very bullish the token. Lighter may be similar" [X Link](https://x.com/koolkrypto223/status/1995566288543121676) 2025-12-01T18:50Z [---] followers, [--] engagements "@WuppertFutures So by bull case do you mean: 1) Lighter will dominate OI in the perp DEX market or 2) Lighter the token will outperform the rest of the market I don't actually think there's as direct a correlation between those as you think" [X Link](https://x.com/koolkrypto223/status/1995567815760445553) 2025-12-01T18:56Z [--] followers, [--] engagements "@WuppertFutures You lost me there 😬 The market is full of counter examples. Go look at $JUP revenue $AAVE TVL $ENA etc etc etc" [X Link](https://x.com/koolkrypto223/status/1995568763979399351) 2025-12-01T19:00Z [--] followers, [--] engagements "Surprised Saylors average entry on the $1.44bn in cash wasn't $1.03 @MicroStrategy really upping their execution game" [X Link](https://x.com/koolkrypto223/status/1995774157980635458) 2025-12-02T08:36Z [---] followers, [---] engagements "@mrpotato1357 The line between perp dexes and shady "on chain" bucket shops is getting increasingly blurred" [X Link](https://x.com/koolkrypto223/status/1996296047706960316) 2025-12-03T19:10Z [--] followers, [--] engagements "@CryptoKaleo Wouldn't this just be another lower high in a long down trend in ETHBTC" [X Link](https://x.com/koolkrypto223/status/1996296397713187010) 2025-12-03T19:12Z [--] followers, [---] engagements "@CryptonomistX @Ferrari4u2 Or that it's the only DEX with sufficient liquidity on the alt pairs and the difference in fees is less consequential to most people than UI/UX ecosystem etc" [X Link](https://x.com/koolkrypto223/status/1997103574279454977) 2025-12-06T00:39Z [--] followers, [--] engagements "Think the launch of @hyenatrade will be incredibly interesting to watch. Probably more bullish $ENA than it is $HYPE. If it leads to a material increase in circulating USDe (500m-1bn) I think we'll see a pretty strong rebound in $ENA. Good confluence with $ETH heating up too" [X Link](https://x.com/koolkrypto223/status/1998530853841023223) 2025-12-09T23:11Z [--] followers, [---] engagements "Closing this pair trade out mostly headed into FOMC. Still betting on $ETH strength through options but I think I can rehedge $HYPE again $32-$35 if desired. @chameleon_jeff entering war mode over HLP and ADL FUD is potentially scary could definitely see a short squeeze rip. This would have been the most cursed pair trade a few months ago. Still love long $ETH short $HYPE into EOY. $ETH strength has been very noticeable for some time now. https://t.co/qZSVeei2dD This would have been the most cursed pair trade a few months ago. Still love long $ETH short $HYPE into EOY. $ETH strength has been" [X Link](https://x.com/koolkrypto223/status/1998645891117556096) 2025-12-10T06:48Z [--] followers, [---] engagements "Long post incoming. There have been some outrageous takes lately on both @Lighter_xyz and @HyperliquidX. For some context I trade heavily on both I enjoy using both and I have 7+ figures of exposure to both. I believe that both can and likely will coexist. I have been vocally bearish on $HYPE heading into Lighter TGE and also vocally bearish Lighter token and metrics post TGE. Despite this my incentives are aligned with the hope that both moon. Those who are dismissing this recent outage on Lighter are simply being disingenuous and likely have a large portion of their net worth tied up in" [X Link](https://x.com/koolkrypto223/status/1998921776072634458) 2025-12-11T01:04Z [--] followers, [---] engagements "Hot takes for the next few weeks in @Lighter_xyz vs @HyperliquidX world: [--]. $HYPE has a ton of leverage building up (on chain and perps). It's not more likely to drop because of this but the severity of the drop would be worse if it did. Sub $25 likely leads to sub $20. Generational stink bid opportunity imo (especially if $BTC and $ETH nuke). [--]. Lighter revenue drops to sub $1m per week on average post TGE. Has already been falling off in the last few weeks from about $6-7m to $2-3m. [--]. Hyperliquid maintains about a 15-20x revenue lead over Lighter and therefore 15-20x FDV multiple 4." [X Link](https://x.com/koolkrypto223/status/1999129537087709690) 2025-12-11T14:49Z [---] followers, [---] engagements "@NMTD8 Not to gravedance but it must feel weird knowing that we're far more likely to moon now that you've unwound this position and derisked the onchain liq cascade" [X Link](https://x.com/koolkrypto223/status/1999136444481429558) 2025-12-11T15:17Z [---] followers, [----] engagements "Annualizing revenue during peak point farming season is insane. You actually make your own counterpoints. Lighter is only trading at a 2x better multiple compared to HYPE during their point farming season which is vamping revenue away from Hyperliquid and to Lighter. This is obviously unsustainable and likely to end soon. Combined with a much lower buyback percentage (which would likely cover a large degree of the multiple discrepancy already) the implied OTC price already likely has it at or around fair value on very apples to oranges metrics. This is also assuming @Hyperliquid doesn't fight" [X Link](https://x.com/koolkrypto223/status/1999176075830874409) 2025-12-11T17:54Z [---] followers, [----] engagements "@Lamboland_ Let me test it top [--] prjx points 👀" [X Link](https://x.com/koolkrypto223/status/1999206188295065689) 2025-12-11T19:54Z [---] followers, [--] engagements "A man just went to jail for [--] years for trying to give people unsustainable incentivized yield. But 35-40% LLP yield is sustainable regardless of capacity and not at all related to $100m of monthly incentives If you can't explain where the yield is coming from it's you" [X Link](https://x.com/koolkrypto223/status/1999285672440713546) 2025-12-12T01:10Z [---] followers, [---] engagements "@0xlykt Decentralize is an interesting way to say sell. Bitcoin whales haven't been selling just decentralizing ownership on us for two months now 😂" [X Link](https://x.com/koolkrypto223/status/1999470829692985427) 2025-12-12T13:26Z [---] followers, [--] engagements "Would not be opposed to $HYPE staying between $27-30 between now and the end of the year 👀 I will say with how badly $KNTQ has performed I'm internally writing these @prjx_hl points to zero. But the delusional bull in me is hoping @prjx_hl is the first HyperEVM runner. This is one of the ways I choose to express my views on the bottom being near (especially post @NMTD8 on chain leverage unwind) but still muted upside until @Lighter_xyz TGE. Relatively tight band LP on @prjx_hl. Happy to own $HYPE sub $27 and sit out some over $30. https://t.co/Ldx45Nssdv This is one of the ways I choose to" [X Link](https://x.com/koolkrypto223/status/1999489414591086753) 2025-12-12T14:39Z [---] followers, [----] engagements "@altoshi0x @lukecannon727 My millions of Hyperlend points are gonna be worthless huh 🥲" [X Link](https://x.com/koolkrypto223/status/1999522349272494454) 2025-12-12T16:50Z [---] followers, [--] engagements "That's how low the bar is in crypto. If Lighter only does 50% buybacks only captures 10-20% of the perps market longer term and only trades at 10-20% of the FDV of HYPE it's still a better hold than the majority of the rest of the market. I can simultaneously believe that Lighter is a great product with a great team in a great and expansive TAM at the same time as Lighter token being less aligned with the protocols success than HYPE Lighter metrics being unsustainably elevated by points pre TGE and that there will be more sellers than buyers around TGE due to the market conditions. If Lighter" [X Link](https://x.com/koolkrypto223/status/1999756558880682095) 2025-12-13T08:21Z [---] followers, [--] engagements "If you read some other stuff I've said I never said Lighter is going to zero I'm just dumping all of mine. I think it can absolutely hold up above $1.5-2.5bn. even if it stays at $4-5bn I'm incredibly happy to derisk the portion of my portfolio that just became 30% liquid float to a market that looks much weaker. So many perps traders I know have a majority of their net worth in Lighter points after 10/10" [X Link](https://x.com/koolkrypto223/status/1999833455832469677) 2025-12-13T13:27Z [---] followers, [--] engagements "@0xlykt Him selling made me stop hedging. His risk of getting liqed was too high" [X Link](https://x.com/koolkrypto223/status/1999833818136719587) 2025-12-13T13:28Z [---] followers, [---] engagements "@0xleegenz Think it's more likely Lighter TGE ends the perp dex meta than reinvigorates it. What's your target on PRJX points" [X Link](https://x.com/koolkrypto223/status/1999852257094119504) 2025-12-13T14:41Z [---] followers, [--] engagements "@skewga_hyper You shut your mouth before you ruin it 😂 agreed though HYPE long pair trades look great here imo. Tbf I also thought that higher" [X Link](https://x.com/koolkrypto223/status/1999901270187151816) 2025-12-13T17:56Z [---] followers, [---] engagements "Starting to realize that people don't actually realize how different the $LIGHTER/ $LIT and $HYPE trades are. Longing Lighter post TGE is a bet on Vlad plugging in with the right VCs and liquid token funds to crime the token up. I don't even mean this as a bad thing but alignment with Coinbase and Robinhood and many big players IS the bull case. Longing $HYPE is a bet on Jeff and team building an entire financial ecosystem OUTSIDE of the current regime. There's a reason HYPE still isn't on Coinbase and it took months to get native USDC and custodial support. This isn't inherently a good thing" [X Link](https://x.com/koolkrypto223/status/1999913813710454949) 2025-12-13T18:46Z [---] followers, 51.5K engagements "Gating LLP deposits by staked Lighter would be a massive own goal to their own liquidity and highly unlikely. Other than that it's just strictly less utility than HYPE Lower buyback percentage not a gas token not used/burned for listing auctions not as useful for fee discounts" [X Link](https://x.com/koolkrypto223/status/1999919723329565041) 2025-12-13T19:09Z [---] followers, [--] engagements "Gating LLP deposits by staked Lighter would be a massive own goal to their own liquidity and highly unlikely. Other than that it's just strictly less utility than HYPE Lower buyback percentage not a gas token not used/burned for listing auctions not as useful for fee discounts" [X Link](https://x.com/koolkrypto223/status/1999919755017453602) 2025-12-13T19:10Z [---] followers, [---] engagements "@BigCheds $BTC sentiment is nowhere near ATL. Altcoin sentiment probably is close. Reminds me of [----] BTC sentiment where people genuinely had no idea if it was ever coming back" [X Link](https://x.com/koolkrypto223/status/1999922098819694723) 2025-12-13T19:19Z [---] followers, [---] engagements "@reisnertobias [--] years Probably the BTC tbh Go look at the CMC from [--] years ago and tell me how your Peercoin is doing 😂" [X Link](https://x.com/koolkrypto223/status/1999925574375186662) 2025-12-13T19:33Z [----] followers, [---] engagements "People are likely using polymarket to hedge points and OTC purchases which would have a slightly negative skew to expectations. I'd assume points OTC price and polymarket are very close but 10-15% discounted. Unlikely it launches over $4bn imo especially in these market conditions" [X Link](https://x.com/koolkrypto223/status/1999932944740180412) 2025-12-13T20:02Z [---] followers, [---] engagements "My views are always nimble you might see me making posts about a $LIT / $HYPE L/S pair trade if Lighter is sub $1.5bn in a few weeks. I just think there are two possible paths and I'll let you guess which one of them is MUCH more likely. Path 1: Lighter does amazing token pumps to $10+ all other perps dex points rerate much higher everyone is happy and makes money. Race to the bottom of fee compression ends with everyone winning a participation trophy and all of CT rejoice in an infinite money glitch being discovered Path 2: $100m of monthly subsidies drying up tanks Lighter volume 60-70%" [X Link](https://x.com/koolkrypto223/status/1999973734036439182) 2025-12-13T22:44Z [---] followers, [----] engagements "@noob33993 So you're of the opinion that risk on/risk off is a binary switch and if we're risk on go for the most risk on asset possible So if fundamentals don't really matter why not long $FARTCOIN then" [X Link](https://x.com/koolkrypto223/status/1999978621444981216) 2025-12-13T23:03Z [---] followers, [---] engagements "@noob33993 Not sure why you're attacking me personally Attack my points. Why choose Lighter as the long leg Why choose HYPE as the short leg "Ideally I'll short the top of a rally that might not happen" is also hilarious as your overarching thesis" [X Link](https://x.com/koolkrypto223/status/1999984333218853266) 2025-12-13T23:26Z [---] followers, [--] engagements "@0xmjt . I'm literally not a .HL I just posted about shorting millions of HYPE on chain 😂 I feel like you're using my post to argue against a community of people that I'm not really in making points that I'm not making" [X Link](https://x.com/koolkrypto223/status/2000044467189899439) 2025-12-14T03:25Z [---] followers, [--] engagements "@bbzzzbbzzz @noob33993 I've explained already the fees I pay are the exact same as on Hyperliquid. Around 2bps taker 0.2bps maker. After points are over there will be very little keeping me there. Portfolio margin on Hyperliquid would be considerably more valuable for the capital efficiency" [X Link](https://x.com/koolkrypto223/status/2000157265618465187) 2025-12-14T10:53Z [---] followers, [--] engagements "@Looberr @Bybit_Official @ethena_labs Cash and carry just too attractive to Tradfi. 10%+ risk "free" rate in crypto was bound to go down eventually" [X Link](https://x.com/koolkrypto223/status/2000206365164187844) 2025-12-14T14:08Z [---] followers, [----] engagements "@Tudmotu @Bybit_Official @ethena_labs Oh I definitely agree that we will and have seen more attempting to tokenize these types of carry/basis trades. That's kinda the bear case though 😂" [X Link](https://x.com/koolkrypto223/status/2000213145739034820) 2025-12-14T14:35Z [---] followers, [----] engagements "The core purpose of USDe was regulatory arbitrage and tokenizing a very lucrative cash and carry trade to give access to people who didn't have the accounts or expertise to run it themselves. Every value prop of it is diminishing as the venues in which the trade is being run are getting into the competition. Their moat is decreasing. USDe specifically also sits in the unhappy middleground of not being GENIUS compliant and also not providing the most curated/highest returns as some of these new yield bearing stables are. Once Hyperliquid and Lighter have portfolio margin enabled the onchain" [X Link](https://x.com/koolkrypto223/status/2000216089180168473) 2025-12-14T14:47Z [---] followers, [----] engagements "Co-founder at Delphi Digital @ZeMariaMacedo commented on my ENA post calling it "FUD" and then deleted his response. I find it intellectually dishonest to not respond to his points but first some context: Delphi Digital Ventures was one of the seed round investors in $ENA for their first $6.5m raise. You can see him bullposting Ethena here in April 2024: Now I'm sure that since $ENA was "one of our (Delphi Digital Ventures) highest conviction bets" that they and the other seed round VC investors like Dragonfly and Malestrom must love $ENA even more now that it's down 70%+ from when this post" [X Link](https://x.com/koolkrypto223/status/2000365218271220062) 2025-12-15T00:40Z [---] followers, 21.3K engagements "@catwychan @Bybit_Official @ethena_labs I caught this after I posted but you are 100% correct. I see a $1.88bn supply not sure how accurate that is though. But a material % of USDe supply" [X Link](https://x.com/koolkrypto223/status/2000403784707801404) 2025-12-15T03:13Z [---] followers, [---] engagements "Exactly and this hypothetical wasn't even meant to paint a base case necessarily. My point was that we know when Hyperliquid makes a dollar we're getting a $0.97 buyback. Say Robinhood pays Lighter a licensing fee buys out the equity etc. What happens with tokenholders It's the same old same old where there's a huge chance for misalignment between equity holders and token holders" [X Link](https://x.com/koolkrypto223/status/2000506923792109998) 2025-12-15T10:03Z [---] followers, [--] engagements "@kropts None of the instantaneous asymmetrical returns that made memecoins attractive. No crazy dopamine hit" [X Link](https://x.com/koolkrypto223/status/2000514767606202793) 2025-12-15T10:34Z [---] followers, [---] engagements "I can't take it anymore. The boredom. I swear if $HYPE stays between $27-30 any longer. I'll just keep printing LP fees. There always a bull market somewhere. Would not be opposed to $HYPE staying between $27-30 between now and the end of the year 👀 I will say with how badly $KNTQ has performed I'm internally writing these @prjx_hl points to zero. But the delusional bull in me is hoping @prjx_hl is the first HyperEVM runner. https://t.co/EV11Nhb9b2 Would not be opposed to $HYPE staying between $27-30 between now and the end of the year 👀 I will say with how badly $KNTQ has performed I'm" [X Link](https://x.com/koolkrypto223/status/2000545875995812070) 2025-12-15T12:37Z [---] followers, [----] engagements "I'm not sure USDe being able to be sold is a feature and not a bug in this context. USDe is currently trading at a 5-7bps discount on CEX. It's just added friction vs 1:1 redeemability. It's actually a much worse pain point than it sounds because when USDe yields are high there's higher demand for it and it tends to trade at a premium (as high as 25bps). So when you want it it's expensive and when it's no longer worth holding (like right now) there's an orderly exit and you end up losing on both sides of the trade. 1:1 redeemability lets a trader like me be way more nimble. I was" [X Link](https://x.com/koolkrypto223/status/2000554233272336537) 2025-12-15T13:11Z [---] followers, [---] engagements "Why @Eugene_Bulltime is so wrong about Lighter's valuation Why are we using TVL That might unironically be one of the most useless stats for a perps dex. Volume is bad OI is better fees is probably best (fees directed to tokenholders better still). Justin Sun just added $100m of TVL to LLP in the last week did that magically increase Lighter FDV by $500m From Nov [--] to now @Lighter_xyz has generated $29.4m in fees. Hyperliquid has done $137m and Aster has done about $75m. Using these ratios $LIT would be valued at $6.2bn vs $HYPE fees/FDV and $2.75bn if you use $ASTER fees/FDV. Why is $ASTER" [X Link](https://x.com/koolkrypto223/status/2000568600940409243) 2025-12-15T14:08Z [---] followers, [----] engagements "Exactly. This is why I mentioned Lighter and Hyperliquid allowing for onchain basis trade at scale too. Ethena's whole edge was that it was regulatory arbitrage; people without CEX accounts could access CEX capacity for the basis trade. Hyperliquid especially has a ton of reason to want to promote their own stablecoin $USDH and portfolio margin for this trade further eating into the value prop of $USDe" [X Link](https://x.com/koolkrypto223/status/2000957090324533435) 2025-12-16T15:52Z [---] followers, [--] engagements "Very good post. Do want to clarify that I wouldn't even say I'm a Lighter bear I think the product and team are exceptional. I'm specifically a TGE bear. I think there's definitely a situation where buying $LIT at the bottom of a post TGE/current bear market dump will be a kingmaker trade for [----]. I think your lines are spot on though. Will be buying in size as we approach the previous VC round valuation of $1.5bn and selling everything I get if we launch higher" [X Link](https://x.com/koolkrypto223/status/2000957821223846279) 2025-12-16T15:54Z [---] followers, [----] engagements "@playrisk @SpecialistXBT Mind you $XPL and $MON fit this exact same argument 😬" [X Link](https://x.com/koolkrypto223/status/2000959924596302329) 2025-12-16T16:03Z [---] followers, [---] engagements "@playrisk @SpecialistXBT They haven't actually announced their tokenomics yet right I'm waiting for that before betting on polymarket for FDV" [X Link](https://x.com/koolkrypto223/status/2000962406215032866) 2025-12-16T16:13Z [---] followers, [---] engagements "@SpecialistXBT @playrisk 100% agreed but it's also launching in a considerably more dumpster fire market especially than $XPL. $MON PA wouldn't shock me which isn't the best picture either 😅" [X Link](https://x.com/koolkrypto223/status/2000966076272927187) 2025-12-16T16:27Z [---] followers, [---] engagements "@0x_antifragile @SpecialistXBT @playrisk Probably not at TGE but could definitely see it getting there after especially if the market remains this bearish. $MON price action would be believable (launch at $3bn pump to $5bn bleed to $2bn)" [X Link](https://x.com/koolkrypto223/status/2001095831290577039) 2025-12-17T01:03Z [---] followers, [---] engagements "These @Lighter_xyz points better be worth way more than I've been arguing they should be 😂 $LIT to $100 Staying in this one for now though. Tom Lee send help" [X Link](https://x.com/koolkrypto223/status/2001112805290721654) 2025-12-17T02:10Z [---] followers, [---] engagements "I think the market already perceived these $HYPE as burned/out of circulation so in theory it should be mostly priced in. Really watching the markets reaction to this "news" is much more important. If we don't start testing $30 soon might be a sell the news type of event" [X Link](https://x.com/koolkrypto223/status/2001129970861543841) 2025-12-17T03:18Z [---] followers, [----] engagements "@MaxBid24 I think the optics of FDV reflecting the buyback is definitely non-zero. Removes one piece of FUD too. But ultimately probably not the bull catalyst people think it is" [X Link](https://x.com/koolkrypto223/status/2001138992582947142) 2025-12-17T03:54Z [---] followers, [---] engagements "379% Funding rate is not what you love to see right now with all this open interest getting added on nothingburger news 🙃 Going to have a lot of people underwater from $27.50-$29 if things go south. Breaking through that resistance is probably the sign for go time on $HYPE" [X Link](https://x.com/koolkrypto223/status/2001144057574097024) 2025-12-17T04:14Z [---] followers, [----] engagements "@aaalexhl This is pretty much the only bullish point about the announcement I agree with. Means nothing to short term tokenomics/float dynamics and price. Means a ton when tradfi investors are doing due diligence down the road. Might have even been necessary for ETFs" [X Link](https://x.com/koolkrypto223/status/2001146182169489628) 2025-12-17T04:23Z [---] followers, [---] engagements "I'm pretty explicitly saying this isn't really that good short term. It's definitely a good and necessary longer term optics cleanup though. Removes one concern tradfi investors might have had. FDV comparisons for multiples reflect the reality of the situation. It's strictly good just not that good and definitely not that impactful short term" [X Link](https://x.com/koolkrypto223/status/2001146952998654437) 2025-12-17T04:26Z [---] followers, [---] engagements "Some of you guys are absolutely exposing yourselves as having never had a conversation with non-crypto native tradfi guys. There's skepticism on every part of our industry. You wouldn't believe the questions and concerns I've heard during a pitch. The nebulous treatment of the assistance fund coins was absolutely a concern for real investors. The asterisk next to FDV was absolutely going to be increasingly missed. This change is obviously more for optics than anything but come on. It's strictly positive for $HYPE. Just not that positive especially not short term. @aaalexhl bc I think it's" [X Link](https://x.com/koolkrypto223/status/2001151268690010194) 2025-12-17T04:43Z [---] followers, [----] engagements "Strong disagree. If you want an insurance fund have a clearly marked insurance fund preferably in USDC (which exists). Surprised to see how many people treated these as out of circulation but want them kept around to possibly be.put into circulation Removing the uncertainty is the whole point" [X Link](https://x.com/koolkrypto223/status/2001189984380809281) 2025-12-17T07:17Z [---] followers, [----] engagements "The assistance fund would be 3x the size of Bybits insurance fund and approximately the same size as Binances for a fraction of the OI of both. Insuring the protocol with the asset most correlated with a black swan event on said protocol is insane. Why are people trying to retroactively repurpose the assistance fund https://twitter.com/i/web/status/2001195350095245521 https://twitter.com/i/web/status/2001195350095245521" [X Link](https://x.com/koolkrypto223/status/2001195350095245521) 2025-12-17T07:38Z [---] followers, [--] engagements "Oh it was never going to last for that exact reason I wasn't worried about that. I was worried about the fact that it's a sign a bunch of people just fomo longed and are immediately underwater on this announcement. A lot of those people will be looking to close at breakeven when they realize it's not that bullish=strong resistance $28+" [X Link](https://x.com/koolkrypto223/status/2001262773628436585) 2025-12-17T12:06Z [---] followers, [---] engagements "If today's change was accurate I'd be approaching breakeven on the year. Hopefully it's not a UI glitch and just @prjx_hl taking into account the value of my points Don't think I can hit $1000000 in LP fees earned by EOY but who knows with $HYPE forever being stuck $27-30" [X Link](https://x.com/koolkrypto223/status/2001311488707850615) 2025-12-17T15:20Z [---] followers, [---] engagements "Relative strength in the recent bear regime has just been people hiding/delayed capitulation. It's not strength it's just not your turn yet. Sub $4bn for $LIT on Polymarket looking real attractive especially with the kicker of winning if we don't launch by EOY" [X Link](https://x.com/koolkrypto223/status/2001328286404898860) 2025-12-17T16:27Z [---] followers, [---] engagements "Whales keep trying to 10x long the pico lows on $HYPE which sets new liq hunt targets. No point bidding until leverage overhang is removed. No chance this guy doesn't get run unless he takes immediate action. $HYPE at $255 wow What went wrong guys $HYPE at $255 wow What went wrong guys" [X Link](https://x.com/koolkrypto223/status/2001350351920992335) 2025-12-17T17:54Z [---] followers, 19K engagements "Update: Just keeps closing his long out the minimum amount when he's $0.20 away from liq. Play stupid games win stupid prizes. Still seeing funding elevate on dips. Rip the band aid off. These idiots are giving you generational entries on $HYPE. Just be patient. Whales keep trying to 10x long the pico lows on $HYPE which sets new liq hunt targets. No point bidding until leverage overhang is removed. No chance this guy doesn't get run unless he takes immediate action. https://t.co/ikhjVC39jP Whales keep trying to 10x long the pico lows on $HYPE which sets new liq hunt targets. No point bidding" [X Link](https://x.com/koolkrypto223/status/2001441866877931877) 2025-12-17T23:58Z [---] followers, [----] engagements "Vehemently disagree with this take and for all the people coming after $HYPE buybacks (and now burn). It's impossible to say exactly how much impact $1bn of buys had on $HYPE price this year but to say it's zero is insane. As bad as recent PA is $HYPE is one of the few coins not meaningfully down YTD. Obviously in the short term $2-3m/day don't impact price much but the long term impact is undeniable. Outside of the practical effects on price I'd argue that this type of mechanism is absolutely necessary for long term alignment. We're seeing the impacts of equity vs token misalignment with" [X Link](https://x.com/koolkrypto223/status/2001663248056410364) 2025-12-18T14:38Z [---] followers, 14K engagements "Think we're getting to the zone on $HYPE where you just close your eyes hold your nose and bid. Could be underwater between now and EOY but it's a reasonable double from this point on even a bear market rally with some legs in Q1 26'. OI has dropped a good bit and many of the overleveraged whales have been fully or partially wiped. I think one more high volume leg down in a capitulation/liquidation cascade is definitely possible and I'd want more capital ready to bid that but keeping my hedges here no longer feels +EV. If you think $HYPE is a $100 coin in the next two years don't miss bidding" [X Link](https://x.com/koolkrypto223/status/2001853752395944292) 2025-12-19T03:15Z [---] followers, 13.4K engagements "@0xfanatic I will say that a little more clarity from the team would be very bullish and probably dispel a lot of FUD" [X Link](https://x.com/koolkrypto223/status/2002029971745947989) 2025-12-19T14:55Z [---] followers, [----] engagements "Are we seriously talking about Gains GMX Jupiter dYdX as competition Coinbase devs only just got 4hr candles and are probably another few years from 1D candles being ready to ship. Lighter and Hyperliquid will gain more ground on CEXs than alt DEXs will gain on them in 26' List of Hyperliquid competitors (so far): Lighter Aster EdgeX Apex Gains GMX Paradex dYdX Jupiter Avantis. Now Throw in Coinbase and Robinhood. There's virtually no moat for Perps and the UX is only improving across the board. Where does this leave $HYPE List of Hyperliquid competitors (so far): Lighter Aster EdgeX Apex" [X Link](https://x.com/koolkrypto223/status/2002465170204073996) 2025-12-20T19:44Z [---] followers, [----] engagements "Absolutely agree. Markets hate uncertainty. But you get paid for the risk you're willing to take. The team has been incredibly ecosystem friendly and aligned with tokenholders up to this point and I'm comfortable taking the risk that they'll continue that. But it's strictly net positive to have better transparency on vesting schedule. Funnily enough I consider this to actually be part of the current bull case. The market is pricing in the worst case scenario due to uncertainty and a simple post from Jeff/team could dispel that uncertainty instantaneously. Imagine the rally on Jeff locking his" [X Link](https://x.com/koolkrypto223/status/2002511022591029605) 2025-12-20T22:46Z [---] followers, [--] engagements "What are people's thoughts on $LIT price action so far on pre-markets Looks to be coming in exactly as expected/predicted via OTC/Polymarket ($3-4bn). Hyperliquid premarket seems a lot less volume/interest than I would have expected tbh. Slightly bearish slant to that imo. Current base case for me is mostly down from TGE but lots of sidelined money waiting to buy lower which usually means people get greedy and bid too low don't get filled and then chase. Hard to envision a world where a 30% supply unlock is bullish in this current market though. Volume for all perps platforms is seasonally" [X Link](https://x.com/koolkrypto223/status/2004266382784147871) 2025-12-25T19:01Z [---] followers, [----] engagements "End of S2 $LIT points final weekly stimmy check of $10k. Time to switch back to a free account. I assume lots of other whales switch accounts back to free accounts over the coming weeks. Will be very curious to see the drop in % of premium vs free accounts" [X Link](https://x.com/koolkrypto223/status/2004747803160174930) 2025-12-27T02:54Z [---] followers, [---] engagements "If @Lighter_xyz really starts S3 of points immediately at TGE as this implies I think you just have to dump it. Way too easy to spiral into the reflexive negative feedback loop that so many other tokens have fallen into. [--]. Need emissions to keep TVL/DAU/rev sticky [--]. Emissionsbuybacks (Lighter needed around $4 of points per $1 of revenue generated pre TGE very likely would be worse post TGE) [--]. Token price down only [--]. Emissions worth less and less need more to keep metrics up. This is exactly why $ENA is on S5 with a down only token price. $ASTER in a similar boat right now. I love the" [X Link](https://x.com/koolkrypto223/status/2004951971586081020) 2025-12-27T16:26Z [---] followers, 21.5K engagements "@bbzzzbbzzz @Lighter_xyz Hyperliquid has a massive war chest reserved but isn't tapping into it yet. Think they are just going to let the competition destroy themselves for free first" [X Link](https://x.com/koolkrypto223/status/2004956605876764706) 2025-12-27T16:44Z [---] followers, [---] engagements "I feel like $LTC is highly likely to get a $SLV or $ZEC style run of 5x in a month on a "digital silver/privacy coin" catchup trade to $BTC It'll probably just be from $20 to $100 in [----] and mark the pico top of that market. On the watchlist nonetheless" [X Link](https://x.com/koolkrypto223/status/2004976942429470775) 2025-12-27T18:05Z [---] followers, [----] engagements "@JackyGekko @Lighter_xyz Much more lucrative trading/investing. "Show me the incentive I'll show you the outcome". Just connecting the dots for people" [X Link](https://x.com/koolkrypto223/status/2004985009502126336) 2025-12-27T18:37Z [---] followers, [---] engagements "Different protocols can use the same playbook (sacrifice token price for market share). Different tokens can have the same outcome (down only). Thank you though I always make sure to FUD my biggest bags so I'm either right or rich 😂 But no seriously I try to put out unbiased takes. My take on the situation is that Lighter is too reliant on incentives and this will end poorly for tokenholders. Fwiw this is my same take for 99% of the industry. Happy to be proven wrong though the industry needs more viable tokens" [X Link](https://x.com/koolkrypto223/status/2004996266132947394) 2025-12-27T19:22Z [----] followers, [---] engagements "Progressively decentralizing ownership might not even be top [--] in their list of reasons to continue with emissions 😂 I think the argument goes both ways though. Doing emissions via points before a live token is easy nobody really feels the pain. Doing emissions with a live token ($ASTER and $ENA) probably ends much worse because people will actually feel the dilution in price. It'll be apples to oranges vs pre-TGE competition. I'm also not sure there's any competitor that's terribly worth worrying about outside of HL" [X Link](https://x.com/koolkrypto223/status/2005021778842976303) 2025-12-27T21:03Z [---] followers, [---] engagements "@ruggedpikachu Great analysis no moon math. I think regardless of the first week of PA we're going to get an opportunity to buy $LIT at $2-3 in Q1. Same thoughts essentially dump TGE maybe add back in later if it gets oversold" [X Link](https://x.com/koolkrypto223/status/2005049916515860634) 2025-12-27T22:55Z [---] followers, [---] engagements "Still a bit early but everything about the $LIT launch and @Lighter_xyz tokenomic reveal feels a bit.underwhelming and poorly executed Stealth launched at 2am EST Immediately crashes withdrawals Lower airdrop % than expected (25% vs 30%) No $LIT perps on launch (@HyperliquidX likely to dominate volume and price discovery) "Buybacks depending on market conditions" is a massive red flag imo. You're openly communicating to the market when you think your token is overvalued. @Lighter_xyz services being gated by staked $LIT Much higher investor allocation than expected (24% which means the $69m" [X Link](https://x.com/koolkrypto223/status/2006027982138454345) 2025-12-30T15:41Z [---] followers, 18.5K engagements "@ClBlockchain It sounds good on paper to try to game buybacks when token price is lower and to raise cash when it's higher. But it becomes a self fulfilling prophecy where you communicate to the market when you think your own token is mispriced and then you fall out of alignment" [X Link](https://x.com/koolkrypto223/status/2006038752930713981) 2025-12-30T16:24Z [---] followers, [---] engagements "Anyone know the exact tax situation for the $LIT airdrop Potentially very big deal. Airdrops are taxable as ordinary income when you "take dominion over them" (today). So everyone who got an airdrop has a taxable liability for [----]. But what's the cost basis/price when we took dominion If it's [--] like it was for $HYPE then most people are sitting on a very small ordinary income bill and a much larger unrealized cap gain. (generally ideal unless you want to realize the gain in 2025) If it's defined differently like end of day price then everyone is on the hook for a massive ordinary income tax" [X Link](https://x.com/koolkrypto223/status/2006059169498218765) 2025-12-30T17:45Z [---] followers, [----] engagements "@Mr__Gollum Pretty huge difference but thank you that was my understanding as well" [X Link](https://x.com/koolkrypto223/status/2006061191169249499) 2025-12-30T17:53Z [---] followers, [---] engagements "@beingivish I've actually been incredibly positive on @Lighter_xyz the platform (minus the very poorly timed downtimes). I just think $LIT the token isn't a great hold. This is very common in crypto imo" [X Link](https://x.com/koolkrypto223/status/2006076942563643409) 2025-12-30T18:56Z [---] followers, [---] engagements "I'm pretty neutral on $LIT here and generally focused on finding the next big thing/trade but if I was bullish on $LIT one metric would be scaring me the most right now. Since the local peak in volume (mid to late November using 11/16-11/23 stats specifically) volume has fallen from $75bn to $31bn this last week of December for a decrease of 60%. Not really a massive concern volume is cyclical this is a lull of low trading volume it'll come back. In the same time frame @HyperliquidX is down from $63.4bn to $26bn for a nearly identical 60% drop. Aster in a similar boat slightly worse. Long" [X Link](https://x.com/koolkrypto223/status/2006090477989421288) 2025-12-30T19:50Z [---] followers, [---] engagements "I'm pretty neutral on $LIT here and generally focused on finding the next big thing/trade but if I was bullish on $LIT one metric would be scaring me the most right now. Since the local peak in volume (mid to late November using 11/16-11/23 stats specifically) volume has fallen from $75bn to $31bn this last week of December for a decrease of 60%. Not really a massive concern volume is cyclical this is a lull of low trading volume it'll come back. In the same time frame @HyperliquidX is down from $63.4bn to $26bn for a nearly identical 60% drop. Aster in a similar boat slightly worse. Long" [X Link](https://x.com/koolkrypto223/status/2006097616111833225) 2025-12-30T20:18Z [---] followers, 12.3K engagements "@Hy_Purr_liquid I don't really ask why the point of this post is to say that way more volume was being put through paid accounts than people probably thought and therefore generating revenue from free accounts is much less promising/harder than it looked a month ago" [X Link](https://x.com/koolkrypto223/status/2006116637842280845) 2025-12-30T21:34Z [---] followers, [---] engagements "Ding ding ding I've written pretty extensively about this dilemma. Sacrifice token value to boost metrics or sacrifice metrics and token value by extension. Both are bad but seeing how sensitive revenue is to incentives it's probably the lesser of two evils to keep the incentives rolling" [X Link](https://x.com/koolkrypto223/status/2006127095802372607) 2025-12-30T22:15Z [---] followers, [---] engagements "@CryptoMtnDrew Yeah the timing is a HUGE part of my more bearish slant. I fully would subscribe to the notion that if $LIT launched when $XPL did it'd probably be trading several multiples higher. But you can only really trade the situation you're given" [X Link](https://x.com/koolkrypto223/status/2006159520641208388) 2025-12-31T00:24Z [---] followers, [---] engagements "Without buybacks it's just another token with zero alignment and value accrual. We thought there would be buybacks and the uncertainty around that (and the falling revenue in general) is what is now being priced in. It's not really bullish vs bearish so much as falling short of expectations. https://twitter.com/i/web/status/2006523703236952453 https://twitter.com/i/web/status/2006523703236952453" [X Link](https://x.com/koolkrypto223/status/2006523703236952453) 2026-01-01T00:31Z [---] followers, [---] engagements "@loraclexyz on $HYPE right now Looking to get filled heavily if we retest the lows around $22. https://hypurrscan.io/address/0x8def9f50456c6c4e37fa5d3d57f108ed23992dae https://hypurrscan.io/address/0x8def9f50456c6c4e37fa5d3d57f108ed23992dae" [X Link](https://x.com/koolkrypto223/status/2006761365164405119) 2026-01-01T16:16Z [---] followers, [---] engagements "So many bad takes regarding the @Lighter_xyz drama Justin Sun buying $LIT isn't really that bullish (see $XPL or CZ "setting the floor for $ASTER at $0.90) Incentivized liquidity deals aren't really bearish though the comms (or lack thereof) aren't a great look the D in FUD means "disinformation" not information that was immediately confirmed. Just say it's NBD instead None of this really matters that much. Market only cares about revenue and more information on buybacks and S3. Unless the comms over buybacks are similarly mishandled I think you could see a small $LIT pump on a good" [X Link](https://x.com/koolkrypto223/status/2006781872458858755) 2026-01-01T17:37Z [----] followers, [----] engagements "@Najdorf250 @Lighter_xyz You know I've heard it as disinformation but doubt does seem to be more common" [X Link](https://x.com/koolkrypto223/status/2006794537080074413) 2026-01-01T18:27Z [---] followers, [---] engagements "It's a much better trade because you're also protected against a prolonged lull in perps volume too. Anything is possible with CZ/Binance/Aster but it's hard to see Aster remaining as relevant in the current environment between Lighter/Hyperliquid and new point subsidized perp dexes. https://twitter.com/i/web/status/2006798821523861954 https://twitter.com/i/web/status/2006798821523861954" [X Link](https://x.com/koolkrypto223/status/2006798821523861954) 2026-01-01T18:44Z [---] followers, [---] engagements "@Najdorf250 @Lighter_xyz Yeah my point was really just that you can't call objectively good reporting FUD when it's immediately confirmed 😂 I just don't think the narrative matters much" [X Link](https://x.com/koolkrypto223/status/2006799079985287531) 2026-01-01T18:45Z [---] followers, [--] engagements "@pondermint @Lighter_xyz Yeah I could see as many bearish arguments as bullish tbh but net nothingburger imo. I think him getting to put in uncapped LLP deposits was kinda fishy though" [X Link](https://x.com/koolkrypto223/status/2006805260137017593) 2026-01-01T19:10Z [---] followers, [---] engagements "@krsmece77699 @Lighter_xyz I learned today it's all of the above 😂 But seems doubt is most common. Point remains that someone shedding light on a situation isn't really FUD just because you don't like it" [X Link](https://x.com/koolkrypto223/status/2006806787828363600) 2026-01-01T19:16Z [---] followers, [---] engagements "A more fair and transparent "credibly neutral" system does not entail some communist ideal of equal outcomes for all. In fact it generally leads to the opposite. Early risk takers get disproportionate rewards. Been that way from Phoenician traders to the pioneers of quant arbs. why The House of All Finance should have own network token the Internet doesnt have equity and own cryptocurrency a credible neutral technology wouldnt have 54.8% of supply owned by early points holders and the core contributors its no different than the financial world why The House of All Finance should have own" [X Link](https://x.com/koolkrypto223/status/2006815864931364966) 2026-01-01T19:52Z [----] followers, [----] engagements "This is deflecting blame from where it really deserves and from what has made $JUP a value trap in [----]. Your perps product is derivative of the old $GMX style collateral pool. Fees funding rates and liquidity are all worse than newer CLOB style perp dexes like @HyperliquidX and @Lighter_xyz. The killer product for @JupiterExchange this entire time has been $JLP and that's where most value accrual went. I'd know because I've been max long looping it for [--] years. $JLP has massively outperformed it's basket components from fees and this is emblematic of the fact that both Jupiter and GMX are" [X Link](https://x.com/koolkrypto223/status/2007480543659900937) 2026-01-03T15:53Z [----] followers, [----] engagements "@DustinTrade 200000k $LIT to sell into [-----] $HYPE" [X Link](https://x.com/koolkrypto223/status/2007482837075931348) 2026-01-03T16:03Z [---] followers, [---] engagements "@sssionggg @HyperliquidX I've wanted to long $JUP for so long but this is the reason I haven't. If you guys had a perps offering that was competitive would probably be one of the best DeFi superapps with a token worth holding" [X Link](https://x.com/koolkrypto223/status/2007483688297402778) 2026-01-03T16:06Z [---] followers, [---] engagements "@CryptoMtnDrew @HyperliquidX Exactly. Buybacks in the face of being fundamentally doomed is just propping up token value for vestoors to get out. $70m into a Hyperliquid competitor would probably see $JUP multiples higher right now" [X Link](https://x.com/koolkrypto223/status/2007484276192035184) 2026-01-03T16:08Z [---] followers, [---] engagements "I was today years old when I learned that most of the founders in this industry are absolutely brilliant software devs but have sub-room temperature IQ with regards to tokenomics and incentive structures. The state of the industry and discourse we're seeing today can be summed up as: Develop a protocol that's probably a fork or slight derivative of another (frequently unnecessary) protocol Your protocol is facing fee compression increased competition tech obsolescence or poor PMF so you add buybacks to pump your token (frequently into team/investor unlocks 🤡) Your balance sheet is now" [X Link](https://x.com/koolkrypto223/status/2007519094355198074) 2026-01-03T18:27Z [---] followers, [----] engagements "Not sure why people are painting $LIT as a candidate for a "hated rally". Maybe a few very loud detractors on here but generally feels people are pretty well positioned for upside to it. $XPL is probably a much better "hated rally" candidate" [X Link](https://x.com/koolkrypto223/status/2008564407761285589) 2026-01-06T15:40Z [----] followers, [----] engagements "The 10:1 ratio must be respected. $HYPE to $30 or $LIT to $2.80 Small size for now. I think S3 $LIT announcement might provide a better short entry on $LIT. Any deviation in revenue ratio to price is probably a longer term trade opportunity" [X Link](https://x.com/anyuser/status/2008592364848500871) 2026-01-06T17:31Z [----] followers, [----] engagements "@kdotcrypto HLP has been pretty transparently turned into a vestigial organ for Hyperliquid. It was always intended to be phased down as primary liquidity provider" [X Link](https://x.com/koolkrypto223/status/2008596159431143475) 2026-01-06T17:46Z [---] followers, [---] engagements "A final note on the buybacks FUD to those who say that teams are better off investing that money back into "growth". What does growth entail in [----] @infinex has a team 5x the size of @Hyperliquid. With Claude etc we're likely to see much leaner teams with much lower headcounts going forward. One cracked dev with the proper blend of peptides nootropics and AI assistance can likely output the same as [--] devs from a few years ago. Paying for listings is likely to get cheaper and easier as perps DEX's like $HYPE and $LIT disrupt the CEX listing model. Marketing to the masses has proven" [X Link](https://x.com/anyuser/status/2008620093530665117) 2026-01-06T19:22Z [----] followers, [----] engagements "Off to a good start on $HYPE long $LIT short. $LIT long and $ASTER ratio short is also up quite a bit since I mentioned it. One of the good things about these protocols being valued on real metrics is that you have very tradeable alpha. Eventually that'll decay as more people pay attention. The 10:1 ratio must be respected. $HYPE to $30 or $LIT to $2.80 Small size for now. I think S3 $LIT announcement might provide a better short entry on $LIT. Any deviation in revenue ratio to price is probably a longer term trade opportunity. https://t.co/qUU4tU7WE7 The 10:1 ratio must be respected. $HYPE" [X Link](https://x.com/anyuser/status/2008735100746584416) 2026-01-07T02:59Z [----] followers, [----] engagements "All of that is highly speculative. If you want to bet that every dollar of revenue that Lighter generates is more valuable than Hyperliquid and that they are a better growth story you absolutely can. Not a crazy trade I'll just be taking the opposite in that their revenues will be closely correlated to price. https://twitter.com/i/web/status/2008740811375042688 https://twitter.com/i/web/status/2008740811375042688" [X Link](https://x.com/koolkrypto223/status/2008740811375042688) 2026-01-07T03:21Z [---] followers, [--] engagements "I don't like to FUD unless I see it as a community service but why would anyone use @ryskfinance especially for selling $HYPE options They are quoting premiums at 50-80% lower than what they should be. Selling 500x Jan30 $30 $HYPE calls gets you $120.56 in premium on Rysk: But you'd get $494 in premium on @DeriveXYZ. Selling $24 cash secured puts for Jan30 would get you $272 in premium on Rysk vs $696 on Derive. Derive doesn't have amazing liquidity yet (I have [--] affiliations with either btw) if you're trying to do larger size (neither does Rysk tbf) but selling vol this cheap on $HYPE makes" [X Link](https://x.com/anyuser/status/2009301389550473439) 2026-01-08T16:29Z [----] followers, 16.9K engagements "@0xmjt @ryskfinance Which brings me to my other point maybe we shouldn't make one of the most complicated instruments with infinite downside more user friendly to access 😂" [X Link](https://x.com/koolkrypto223/status/2009302537598280020) 2026-01-08T16:33Z [---] followers, [---] engagements "@WuppertFutures @0xmjt @ryskfinance Derive absolutely it's a great platform just totally lacking liquidity. Rysk absolutely not I think they are predatory in nature. They try to package selling vol as "earn yield" and they don't let you buy calls because then it'd expose their outrageously predatory spreads" [X Link](https://x.com/koolkrypto223/status/2009323759950549030) 2026-01-08T17:58Z [---] followers, [---] engagements "@canikizu @ryskfinance Right like I said liquidity isn't amazing on Derive but at least they are trying to be a real options book. Notice Rysk doesn't let you buy calls because it'd expose their practices when you can sell a $30 call for $0.40 and buy one for $4" [X Link](https://x.com/koolkrypto223/status/2009333110555746453) 2026-01-08T18:35Z [----] followers, [---] engagements "I'd agree 99% of the time. I think the HyperEVM suffers explicitly as a result of the strength of $HYPE fundamentals. But I also think that consistent underperformance has given at least a slightly interesting asymmetry. $KNTQ specifically gives exposure to Tradfi perps liquid staking HYPE ETF infra etc so it's differentiated enough that it's at least a little interesting at a $80m FDV (0.3% of $HYPE FDV compared to 0.5% for $JITO / $SOL with much more interesting utility imo) This is absolutely a short/medium duration trade though. Over a 3-5 year time horizon I'd absolutely rather hold the" [X Link](https://x.com/koolkrypto223/status/2009341719574401508) 2026-01-08T19:09Z [----] followers, [----] engagements "@escotradingg Yes $KNTQ is exposure to how profitable @kinetiq_xyz is as a HIP-3 deployer" [X Link](https://x.com/koolkrypto223/status/2009378682910200294) 2026-01-08T21:36Z [---] followers, [---] engagements "@Versace_Trader There may have been a TWAP or two 👀" [X Link](https://x.com/koolkrypto223/status/2009387416381989072) 2026-01-08T22:11Z [---] followers, [---] engagements "@0xdataxbt Sometimes you need to be okay with being super underwater on this stuff. "Early but not wrong" type of vibe. I'm prepared if we crash back down to [----] but eventually hit 0.40" [X Link](https://x.com/koolkrypto223/status/2009569562325582260) 2026-01-09T10:14Z [---] followers, [--] engagements "Debating what will have a higher ROI in [--] years @HyperliquidX tradfi spot tickers or Venezuelan beach front property NEW SPOT TICKER The ticker $OPENAI bought for [------] $HYPE or 13055$ https://t.co/Ze3bnDjEKd NEW SPOT TICKER The ticker $OPENAI bought for [------] $HYPE or 13055$ https://t.co/Ze3bnDjEKd" [X Link](https://x.com/anyuser/status/2009667805780816138) 2026-01-09T16:45Z [----] followers, [----] engagements "Thank you to everyone who liked and commented but didn't sell me any cheap $KNTQ and instead decided to front run me 🙃 Also looking to OTC buy 2m+ $HYPE please also front run me there Anyone want to OTC me some $KNTQ Looking to do 2m+ KNTQ size I'm currently at the depths of the Marianas Trench underwater on my initial buys but looking to take a punt here. Probably one of only a few $HYPE betas I could see outperforming over a longer time horizon. The https://t.co/K7mi8iYl5V Anyone want to OTC me some $KNTQ Looking to do 2m+ KNTQ size I'm currently at the depths of the Marianas Trench" [X Link](https://x.com/anyuser/status/2009669369023082849) 2026-01-09T16:51Z [----] followers, [----] engagements "@jaysu @ryskfinance An illiquid platform trying to build a real on chain options book is better than a predatory platform offering 100% -EV quotes imo" [X Link](https://x.com/koolkrypto223/status/2009732471131119655) 2026-01-09T21:02Z [----] followers, [--] engagements "@jaysu @ryskfinance This is a very bizarre way to frame it. I'm also not promoting Derive I'm showing their pricing because it's very similar to the pricing I pay OTC. But if you want to sell vol at a 75% discount go for it" [X Link](https://x.com/koolkrypto223/status/2009737036597465117) 2026-01-09T21:20Z [----] followers, [--] engagements "I've slightly revised my $LIT thesis and am closing this $LIT short leg out here. I don't think the potential fundamental issues with @Lighter_xyz are short term catalysts for more downside and I can recognize that I could easily get my face ripped off on this if we get a bullish impulse. Not worth playing with fire at what feels like a fair valuation. One update in my views on @Lighter_xyz is also that it is meaningfully "growing the pie" in perps volume. A lot of traders and trading/hedging strategies are only possible/profitable in a no fee environment. Lighter obviously takes volume away" [X Link](https://x.com/anyuser/status/2010037918971375815) 2026-01-10T17:15Z [----] followers, 18.3K engagements "@bitcoinduke @Lighter_xyz I'm in no rush if we get price discovery in the opposite direction things can probably get ugly fast. I like stink bids here a lot though some bad Justin Sun/Techno Revenant news and you could probably snag sub $2 fills" [X Link](https://x.com/koolkrypto223/status/2010121536683098356) 2026-01-10T22:48Z [----] followers, [---] engagements "@muddyhl @bitcoinduke @Lighter_xyz $2bn isn't even a crazy move from here. Would only take a BTC move back into the mid 80s and a couple more bad revenue days" [X Link](https://x.com/koolkrypto223/status/2010194779368501672) 2026-01-11T03:39Z [---] followers, [--] engagements "I agree with not over indexing on very recent revenue but it feels like moving the goal post to say the clear downtrend doesn't matter. I think this would make sense if token price was down but they were directing revenue to growth and metrics were up. But metrics are down competition is intensifying and their ability to capture market share and monetize it is increasingly in question. https://twitter.com/i/web/status/2010304700755718398 https://twitter.com/i/web/status/2010304700755718398" [X Link](https://x.com/koolkrypto223/status/2010304700755718398) 2026-01-11T10:56Z [---] followers, [---] engagements "This is a ludicrous analogy. LLP isn't a decade early to stat arb or some esoteric trading strategy. It's artificially propped up yield by creating your own internal latency arb. Even if this were the analogy you want to go with charge 50% performance fees like the Medallion Fund charges and direct that to LIT stakers if you want to strengthen alignment or value accrual. The medallion fund doesn't gate your deposits on how much meme stock you hold" [X Link](https://x.com/koolkrypto223/status/2011635988502643083) 2026-01-15T03:06Z [----] followers, 11.8K engagements "@vnovakovski Every counterparty vault in crypto is high Sharpe. That doesn't address any aspects of the points I'm making. How high will the Sharpe be when the return on capital includes the capital inefficiency of needing to hedge or hold a volatile altcoin" [X Link](https://x.com/koolkrypto223/status/2011637845966881071) 2026-01-15T03:13Z [----] followers, [---] engagements "Most $LIT stakers will just delta neutral hedge their $LIT on perps and perps funding will just be structurally negative like it was for $CRV in the past or $SOL due to JLP (or most yield bearing coins with 15%+ yield). If they don't hedge LLP (inclusive of the requisite $LIT) will be nowhere near [--] Sharpe anymore. Completely disingenuous analogy. This does nothing to induce buying pressure you're just killing your TAM. @koolkrypto223 If you could have kept your stake in Medallion Fund operated by Renaissance Technologies in [----] would you have @koolkrypto223 If you could have kept your stake" [X Link](https://x.com/anyuser/status/2011639326023565480) 2026-01-15T03:19Z [----] followers, 13.1K engagements "@lukecannon727 @vnovakovski Yeah I didn't even want to get into the rest of this. Sharpe over [--] without an ability to leverage is pretty meaningless anyway. And Renaissance was making WAY more than recent LLP performance. It transcends arrogance into delusion to compare them" [X Link](https://x.com/koolkrypto223/status/2011641398655926735) 2026-01-15T03:27Z [----] followers, [----] engagements "Vlad really did give us all access to an outsized returns opportunity. The Medallion Fund" [X Link](https://x.com/anyuser/status/2011654900154052855) 2026-01-15T04:21Z [----] followers, 20.4K engagements "@linkmaxxi I trade based on the world in front of me. The news today was bearish. A lot can change in [--] months" [X Link](https://x.com/koolkrypto223/status/2011668687053603273) 2026-01-15T05:16Z [----] followers, [---] engagements "100% said this elsewhere. Sharpe over [--] is a vanity metric without the ability to lever. Annualized returns are what matter here and they are dwarfed by Medallion. Sharpe isn't even really fair because of the inherent black swan risk of DeFi and in the event of another 10/10 (where LLP lost 5% in a day). https://twitter.com/i/web/status/2011670555519238227 https://twitter.com/i/web/status/2011670555519238227" [X Link](https://x.com/koolkrypto223/status/2011670555519238227) 2026-01-15T05:23Z [----] followers, [----] engagements "@linkmaxxi Why wouldn't I want to deposit into a high return counterparty vault" [X Link](https://x.com/koolkrypto223/status/2011670879793446926) 2026-01-15T05:24Z [----] followers, [--] engagements "Yeah this is the point I made and agree with something had to give and it being their outperformance on all in execution makes sense. At a certain point it's just over engineering a solution to self inflicted problems. If all in fees and execution get close to Hyperliquid what are we even doing here" [X Link](https://x.com/koolkrypto223/status/2011672838793568379) 2026-01-15T05:32Z [----] followers, [--] engagements "@RealAZKicks 😬 I bear posted TGE pretty relentlessly tbh. I dumped hour [--]. I was bullish the actual UI/UX of the product it's the only one I find close to Hyperliquid. Very bearish the token though" [X Link](https://x.com/koolkrypto223/status/2011673467893219376) 2026-01-15T05:35Z [----] followers, [---] engagements "The times you fade consensus are usually the trades with the most asymmetry. Everyone has been conditioned that HyperEVM tokens are a dump. @kinetiq_xyz is the first real token launch. Will bid with size sub $100m expecting $150-250m. $KNTQ launching with $USDH pair is big too" [X Link](https://x.com/koolkrypto223/status/1993964354560249884) 2025-11-27T08:45Z [----] followers, [---] engagements "Anyone want to OTC me some $KNTQ Looking to do 2m+ KNTQ size I'm currently at the depths of the Marianas Trench underwater on my initial buys but looking to take a punt here. Probably one of only a few $HYPE betas I could see outperforming over a longer time horizon. The chart looks bottomed out and ready to send to $0.20+ on a risk on move. Could see $KNTQ to do a 4-6x ($0.30-$0.50) if $HYPE even approaches $40+ again. https://twitter.com/i/web/status/2009332688667415018 https://twitter.com/i/web/status/2009332688667415018" [X Link](https://x.com/anyuser/status/2009332688667415018) 2026-01-08T18:33Z [----] followers, 36.1K engagements "Feels like time to pull my money out of the Medallion Fund (being short $LIT) Don't think the $1.5bn FDV $69m raise number actually translates into much meaningful support but enough people probably think it does to make this short unattractive now. For reference under @Lighter_xyz new staking requirement for LLP (1 $LIT per $10 in LLP) if you had $100k in LLP since the announcement you would have made $150 in LLP (11% annualized Simmons would be jealous) but lost $4600 on the requisite $LIT stake. Fundamentals haven't changed (arguably gotten worse) and it's just not my style to "long for a" [X Link](https://x.com/anyuser/status/2013391879078060443) 2026-01-19T23:23Z [----] followers, 14.9K engagements "I find it interesting that everyone thinks that once this precious metals rally ends on gold and silver that we'll see a rotation back into crypto. This capital is explicitly looking for a safe haven to erratic US policy. The downside of the current admin being so outwardly aligned with $BTC and crypto is that it also hurts it's credible neutrality globally. Rather than betting on a risk on impulse from precious metals to $BTC might just be cleaner to bet on the token that directly benefits from $1.5bn in 24hr volume for silver 👀 The HIP-3 bull case for $HYPE has never looked stronger and" [X Link](https://x.com/anyuser/status/2016229856724582405) 2026-01-27T19:20Z [----] followers, [----] engagements "@DigitMission I'm not seeing any reason to bet that they would. Maybe much further down the line but I think HL disrupts CEX/Tradfi incumbents before Lighter disrupts HL" [X Link](https://x.com/koolkrypto223/status/2016240473632075900) 2026-01-27T20:02Z [----] followers, [---] engagements "Revising my thesis on $ENA a lot has changed in the last few days. Probably circling the drain too. With @Bybit_Official launching $BYUSDT and Binance having $FDUSD they are effectively internalizing the funding rate basis trade. Whatever privileged treatment @ethena was getting they'll obviously prioritize themselves and essentially cut Ethena out. A huge reason for the massive increase in $USDe circulating supply was looping and collateralizing on CEX. With 1:1 redeemability and 100% collateralization ratios USDe is obsolete. I thought that @hyenatrade could be a bullish catalyst but now" [X Link](https://x.com/koolkrypto223/status/1999971295363236342) 2025-12-13T22:34Z [----] followers, 76.9K engagements "@postparadis @Cbb0fe @vnovakovski Why am I catching strays 😂 I've been pretty transparent and unbiased in thinking Lighter is a good platform with a bad token" [X Link](https://x.com/koolkrypto223/status/2011873724950102340) 2026-01-15T18:50Z [----] followers, [---] engagements "@blade_ Definitely considered this and watching closely but it's too early to tell. I can see bull and bear cases for it. Derive has been fairly Hyperliquid aligned as well" [X Link](https://x.com/koolkrypto223/status/2018745133639122973) 2026-02-03T17:55Z [----] followers, [---] engagements "@CryptoZer0_ Absolutely but growth mode fees definitely conflate that equation a lot. I don't think I can get behind hip3 volume replacing crypto volumes enough in a bear winter but definitely helps" [X Link](https://x.com/koolkrypto223/status/2019620587245543522) 2026-02-06T03:54Z [----] followers, [---] engagements "@icedark778 Yeah I hedged some of my HYPE higher and longed BTC in anticipation of the current PA; the entire market bouncing but HYPE being flat/down" [X Link](https://x.com/koolkrypto223/status/2019953103252914293) 2026-02-07T01:55Z [----] followers, [---] engagements "Back on my @prjx_hl grind early KNTQ yield too high to pass up. Hoping to get a Porsche [---] worth of $PRJX too. Take notes from the $KNTQ airdrop guys" [X Link](https://x.com/koolkrypto223/status/1994068835620802944) 2025-11-27T15:40Z [----] followers, [---] engagements "@bbzzzbbzzz @skyiszen This is just incorrect though spot BTC doesn't count as margin on HL as of now. The basis trade is no more capital efficient on HL than on Lighter with CBBTC sitting in your wallet. uBTC is also not a significant portion of HL TVL" [X Link](https://x.com/koolkrypto223/status/1994443841232146741) 2025-11-28T16:30Z [----] followers, [--] engagements "As someone else pointed out I mistakenly used $FDUSD when I really meant their yield bearing stable $BFUSD which looks to be around $1.25-1.75bn. Even if Bybit $BYUSD did end up being 1/3 of that it's still meaningfully (10%) eating into USDe market share. These were just specific to CEX too. Every month new yield bearing stables are launching that are crowding out the basis trade and other forms of on chain yield. I don't see how this dismisses the reality that Ethena has very little moat decreasing market share increasing competition and a less powerful lever to pull for incentives as $ENA" [X Link](https://x.com/koolkrypto223/status/2000952825807851852) 2025-12-16T15:35Z [----] followers, [---] engagements "People are really letting comparison be the theft of joy with @Lighter_xyz vs @HyperliquidX. @Lighter_xyz built an $ETH aligned ZK verifiable transparent no fee performant (usually) perp dex and allocated 50% to the community with a 25% initial airdrop. By industry standards this is better than 99.9% of launches. Regular people earned [--] [--] [--] even some [--] figure airdrops for being glorified beta testers for a protocol that went from a near [--] to a $2.5bn entity in a year. I wouldn't really malign @Lighter_xyz much for making some MM deals with Jump etc back when they were much smaller. I'm not" [X Link](https://x.com/koolkrypto223/status/2006413818369593371) 2025-12-31T17:15Z [----] followers, 29.3K engagements "Bought $DRV at $0.04 Had poked around with the platform since the Lyra days but now with $HYPE options live it's been great to use. I think this environment for $HYPE is particularly well suited to options and you can get filled competitively in size with their RFQ platform. I'm a big believer in trying everything early and owning what I like find actually useful which has led me to a lot of gems early in the past ( $GMX $PENDLE $HYPE). @DeriveXYZ has a very close UI/UX to Deribit a wide variety of yield bearing collateral and interest on USDC collateral portfolio margin. Key to getting" [X Link](https://x.com/anyuser/status/2018728907168756132) 2026-02-03T16:50Z [----] followers, [----] engagements "$ETH and $SOL don't bottom until $HYPE is top [--] mcap. The only bull catalyst for most coins is printing such obscene lows that bears and $HYPE bulls think it's worth taking a punt to rotate some profits back in. [-----] $ETH [---] $SOL Waiting for big volume blow off on ratios" [X Link](https://x.com/anyuser/status/2019108412978848061) 2026-02-04T17:58Z [----] followers, [----] engagements "Finally put this trade on after noticing several instances of $HYPE massively outperforming to the downside but then not keeping up to the upside. This is to be expected when it's a consensus long. We all know it's the only serious project so we diamond hand it on the way down but then there's less bid due to the lack of discount on the way up. I currently denominate my portfolio in $HYPE rather than $BTC but it's just hard to pass up $60k $BTC. All profits find their way into $HYPE eventually though. Also as I posted before having a very good experience trading options for $HYPE on" [X Link](https://x.com/anyuser/status/2019949852352974912) 2026-02-07T01:42Z [----] followers, 19.6K engagements "There's a lot of alpha to be gleaned from determining if the hate directed at the Coinbase ad is coming from crypto natives (bullish) or normies who just associate it with crypto (very bearish). One thing is certain; the association with $BTC and the current political administration was once seen as bullish and that anticipation has turned into the very somber realization that it might actually be very bearish. $BTC losing it status as a credibly neutral reserve asset/settlement layer and being seen as USA/Trump beta conflicts with the whole bull case of Russia getting kicked off SWIFT. The" [X Link](https://x.com/anyuser/status/2021024045958037773) 2026-02-10T00:50Z [----] followers, [----] engagements "Well you'd assume they'd do a 20% airdrop so you'd need to 5x for FDV. But those are good stats to know. I don't think on chain dexes really have high TAMs or value though. Hyperswap is only trading at $2-3m. I think PRJX is way better but a 25-50m FDV sounds realistic if not optimistic so that'd only be 0.015-0.03 per point at a 20% airdrop. I have over [--] million points though so trust me I'm on your side of wanting higher 😂 https://twitter.com/i/web/status/2018829525388272069 https://twitter.com/i/web/status/2018829525388272069" [X Link](https://x.com/koolkrypto223/status/2018829525388272069) 2026-02-03T23:30Z [----] followers, [--] engagements Limited data mode. Full metrics available with subscription: lunarcrush.com/pricing
@koolkrypto223 KoolKrypto
KoolKrypto posts on X about $hype, hype, $lit, lit the most. They currently have [-----] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours.
Engagements: [-----] #
- [--] Week [-----] -32%
- [--] Month [------] -85%
Mentions: [--] #
- [--] Month [--] -72%
Followers: [-----] #
- [--] Week [-----] +5.70%
- [--] Month [-----] +55%
CreatorRank: [---------] #
Social Influence
Social category influence cryptocurrencies finance exchanges technology brands stocks financial services luxury brands automotive brands
Social topic influence $hype #496, hype #1867, $lit #20, lit #285, if you, hyperliquid, $kntq, $btc, bearish, bullish
Top accounts mentioned or mentioned by @lighterxyz @hyperliquidx @prjxhl @skyiszen @hyperliquid @extendedapp @ryskfinance @derivexyz @variationalio @bybitofficial @kinetiqxyz @wuppertfutures @ethenalabs @playrisk @specialistxbt @pondermint @nativemarkets @lighter @loraclexyz @hyenatrade
Top assets mentioned Hyperliquid (HYPE) Litentry (LIT) Bitcoin (BTC) Ethereum (ETH) Solana (SOL) USDH (USDH) Ethena (ENA) Coinbase Global Inc. (COIN) Plasma (XPL) Jupiter (JUP) Robinhood Markets, Inc. (HOOD) USDC (USDC) Aster (ASTER) NVIDIA Corp. (NVDA) Zcash (ZEC) First Digital USD (FDUSD) MON Protocol (MON) Universal Currency (UNIT)
Top Social Posts
Top posts by engagements in the last [--] hours
"Starting scaling into $SOL for a bounce around $130 as planned. Was $145 when I made that post. Be patient and stick to your plan. Also trying out @Lighter_xyz now. It's good for $BTC $ETH and $SOL at least Damn $SOL looks like shit here I'm not even sure I wanna buy the dip on ts. Maybe sub [---] Damn $SOL looks like shit here I'm not even sure I wanna buy the dip on ts. Maybe sub 130"
X Link 2025-11-18T15:37Z [--] followers, [---] engagements
"Set a $1m TWAP over night when $BTC was dropping into the 80s. Dip=bought"
X Link 2025-11-18T15:39Z [--] followers, [--] engagements
"Bleed into FOMC liq late shorts on $NVDA earnings resume bleed Prepared to catch some wicks either way"
X Link 2025-11-19T16:36Z [--] followers, [--] engagements
"Bleed into FOMC liq late shorts on $NVDA earnings resume bleed Prepared to catch some wicks on $BTC and $HYPE either way"
X Link 2025-11-19T16:43Z [--] followers, [---] engagements
"Not sure people realize that high funding is also potentially an onboarding mechanism to @HyperliquidX for people who want to hedge $NVDA. They'll reach equilibrium eventually but it's going to catch TradFi eyes. if you move size and don't want to singlehandedly push funding up to triple digits on tradfi trade on ostium if you move size and don't want to singlehandedly push funding up to triple digits on tradfi trade on ostium"
X Link 2025-11-19T16:50Z [--] followers, [---] engagements
"@SylvesterSolid @Lamboland_ @prjx_hl I think it's less that they are fading @Lamboland and @prjx_hl and more so that they are fading DEXs in general and projects on the HyperEVM. It's easily the best DEX on there but @HyperSwap $SWAP disappointed a lot of people. What do you value @prjx_hl points at now"
X Link 2025-11-19T17:10Z [--] followers, [--] engagements
"No rush to hero long this $BTC bleed. Staggered orders down slowly getting fills but this type of price action almost always ends in a swift nuke or a long consolidation. You will have time to get good entries. Wick into high 70s is a must long imo. Prepare for both paths"
X Link 2025-11-19T19:06Z [--] followers, [---] engagements
"@Henrik_on_HL I think once onboarding to @HyperliquidX becomes easier perp equities will eat a ton into the 0DTE equities options crowd"
X Link 2025-11-19T19:31Z [--] followers, [--] engagements
"Update Day 3: Crossed $20k in fees loving this volatility on $HYPE. What do you guys think @prjx_hl points will be worth Update Day 2: LP still in range gladly buying more HYPE here on this dip. If I close early it will be because I want to lock in the HYPE exposure. Otherwise [--] fig fees here we come 👀 https://t.co/JDww4gbfGY Update Day 2: LP still in range gladly buying more HYPE here on this dip. If I close early it will be because I want to lock in the HYPE exposure. Otherwise [--] fig fees here we come 👀 https://t.co/JDww4gbfGY"
X Link 2025-11-19T21:21Z [--] followers, [---] engagements
"Update Day 4: $30k milestone reached only $70k to go $HYPE in this pretty tight range is still printing fees. @prjx_hl points coming in fast too. Looking at doing $BTC and $ETH LP's with $HYPE too as I expect more consolidation in those ratios. Update Day 3: Crossed $20k in fees loving this volatility on $HYPE. What do you guys think @prjx_hl points will be worth https://t.co/rp0W0E3Bco Update Day 3: Crossed $20k in fees loving this volatility on $HYPE. What do you guys think @prjx_hl points will be worth https://t.co/rp0W0E3Bco"
X Link 2025-11-20T22:47Z [--] followers, [---] engagements
"@felixdoteth @prjx_hl Don't worry my spot holdings are getting sent to the shadow realm just like everyone else. Fortunately I'm very $HYPE heavy"
X Link 2025-11-20T22:53Z [--] followers, [--] engagements
"I'm unconvinced by volume as a metric of success for alternative perp dexes to @HyperliquidX so while this pump in HIP3 market volume might create splashy headlines it is likely overwhelmingly wash trading in hopes of $UNIT or $HYPE airdrops"
X Link 2025-11-26T15:32Z [--] followers, [--] engagements
"Open interest is really what we need to be looking at for @Hyperliquid breaking into the massive TAM that is tokenized equities. I have a hard time believing that will happen until funding rates are arbed down to a more reasonable carry rate"
X Link 2025-11-26T15:37Z [--] followers, [--] engagements
"What are we thinking in terms of FDV at launch or $ per $KNTQ point I'm thinking $5-6 per point. This will definitely be the barometer for other HyperEVM launches @hyperlendx @felixprotocol @prjx_hl points could rerate dramatically after this Tomorrow $KNTQ launches on @HyperliquidX paired with USDH by @nativemarkets as the quote token. https://t.co/X3ukVDiVta Tomorrow $KNTQ launches on @HyperliquidX paired with USDH by @nativemarkets as the quote token. https://t.co/X3ukVDiVta"
X Link 2025-11-26T15:40Z [---] followers, [---] engagements
"A huge part of the $HYPE bull thesis and even cult is trust in Jeff as a founder. This guy comes off like a worse Charles Hoskinson. Genuinely bearish $LIGHTER @corgil We have a team for that. Unlike founders that don't know how to hire and manage @corgil We have a team for that. Unlike founders that don't know how to hire and manage"
X Link 2025-11-26T20:08Z [--] followers, [---] engagements
"@Leonardo_Web3 @hyperlendx @felixprotocol @prjx_hl That's right where $5/point lands I believe. But if any coin could break the HyperEVM curse and be slept on at first and then have people fomo into it it'd probably be this"
X Link 2025-11-26T20:25Z [--] followers, [--] engagements
"@skyiszen @lighter I've been using both. You're possibly right for just $BTC $ETH and $SOL. But you're ignoring the point that once points end volume and OI goes way down spreads increase and cost of execution probably becomes worse all in. It's also been pretty spotty during high vol (10/10)"
X Link 2025-11-26T20:33Z [--] followers, [---] engagements
"@pk79z This is why the real TAM for equities perps isn't passive holders it's the 0DTE options market. Infinitely superior tool for that. Eventually the funding rate will probably become 1-2% higher than most brokerage margin rates so not insane for the leverage you're getting"
X Link 2025-11-26T20:35Z [--] followers, [--] engagements
"@skyiszen Honestly for me the slight difference in fees (I'm quite discounted on HL) doesn't justify moving my trading over for a worse UI and smaller trading universe. Usually I'm just looking for arbs between the two. Doesn't change my point that this likely won't be the case post TGE"
X Link 2025-11-26T20:43Z [--] followers, [--] engagements
"@solunavaxxer @kaledora This is just two different tools though. Perps equities are meant to compete against 0DTE markets on leverage or look at TQQQ bleed. If @Hyperliquid becomes the venue for high leverage low duration trades it won. Doesn't need to compete on long term holders. It's for trading"
X Link 2025-11-26T20:49Z [--] followers, [---] engagements
"@skyiszen Yeah then you're objectively correct for now but even then the difference is pretty negligible. I'm on the fee paying account for Lighter so it's 2bps/.2bps vs 2.1/0.28bps on HL. If you aren't staking HYPE then it's worse. So day trading BTC lower volume guys Lighter is better"
X Link 2025-11-26T21:01Z [--] followers, [--] engagements
"@loraclexyz I don't think any debate is required. If it remains elevated people come in and short perps/hold underlying. It's like how CRV or SOL funding generally negative. I actually think it'll be an onboarding mechanism. 0DTE guys go 100x long hedge funds keep rates fair vs margin rate"
X Link 2025-11-26T21:14Z [---] followers, [----] engagements
"@loraclexyz You might be underestimating the Tradfi/HF appetite for a 5-7% spread that can be levered 3-4x. If Prime Brokers integrate with HL (they are) or there's some form of unified margin or spot equities these trades will become VERY popular"
X Link 2025-11-26T21:25Z [--] followers, [---] engagements
"0DTE options makes up 60% of SPX options volume and it's only going up. Stop asking why you'd hold equities perps for a year and pay 11% and start asking what happens when @Hyperliquid becomes the best and cheapest venue to place $100m+ notional overnight bets"
X Link 2025-11-26T21:33Z [--] followers, [--] engagements
"Happy Thanksgiving @kinetiq_xyz Right around $200m FDV at launch as expected too. Should have bet on @Polymarket. Porshe [---] sized airdrops are back $KNTQ 👀 The times you fade consensus are usually the trades with the most asymmetry. Everyone has been conditioned that HyperEVM tokens are a dump. @kinetiq_xyz is the first real token launch. Will bid with size sub $100m expecting $150-250m. $KNTQ launching with $USDH pair is big too The times you fade consensus are usually the trades with the most asymmetry. Everyone has been conditioned that HyperEVM tokens are a dump. @kinetiq_xyz is the"
X Link 2025-11-27T14:02Z [--] followers, [---] engagements
"@waterfasting19 @kinetiq_xyz @Polymarket Yeah I had a lot of points intentionally farmed it"
X Link 2025-11-27T14:08Z [--] followers, [--] engagements
"@theunipcs For me dumps of 30%+ are normal in crypto and good buying spots in a bull move. The problem is you're also eating 30%+ losses before realizing it's a bear market. Best you can do is scale in and out"
X Link 2025-11-27T18:08Z [--] followers, [---] engagements
"I have a bunch of Lighter points. It'll likely be my second biggest airdrop ever (after $HYPE of course). But what's the bull case for $LIGHTER post TGE Polymarket has done a good job predicting TGE FDV (see $KNTQ) and OTC points both line up with an expected $2.5-4bn FDV at TGE. Price discovery has already happened. What's the next catalyst What's the incentive to hold Why wouldn't half or more of the current @Lighter volume move on to the next perp dex farm. Isn't profitability from HFT parnets and arbitrageurs likely to plummet after all the spread-indiscriminate flow and wash trading"
X Link 2025-11-27T19:25Z [--] followers, [--] engagements
"I have a bunch of Lighter points. It'll likely be my second biggest airdrop ever (after $HYPE of course). But what's the bull case for $LIGHTER post TGE Polymarket has done a good job predicting TGE FDV (see $KNTQ) and OTC points both line up with an expected $2.5-4bn FDV at TGE. Price discovery has already happened. What's the next catalyst What's the incentive to hold Why wouldn't half or more of the current @Lighter volume move on to the next perp dex farm. Isn't profitability from HFT partners and arbitrageurs likely to plummet after all the spread-indiscriminate flow and wash trading"
X Link 2025-11-27T19:29Z [--] followers, [---] engagements
"@Etherean007 It's not that people didn't artificially inflate their volume to farm HYPE too. It's just that volume in general is a widely faked and useless statistic without context. If you think it's a good metric then you think Lighter should actually trade at a higher FDV than $HYPE"
X Link 2025-11-28T02:58Z [--] followers, [---] engagements
"@alex_hunter20 Farming $HYPE S3 and $UNIT 😎"
X Link 2025-11-28T03:00Z [--] followers, [---] engagements
"@chilla_ct @pendle_fi @boros_fi I'm so excited to use this I'm just waiting for other people to use it so it's worth using 😂"
X Link 2025-11-28T03:08Z [--] followers, [--] engagements
"@cryptovishal7 @pendle_fi @tokenterminal Probably one of the biggest discrepancies between amazing application and horrendous token. Tokenomic revamp should be huge for $PENDLE"
X Link 2025-11-28T04:44Z [--] followers, [--] engagements
"@coopernicus01 Opportunities are just more concentrated now. There are guys who farmed $HYPE bought $TRUMP and jumped on $ZEC and have no idea what bear market people are talking about. If you missed all the big moves and held alts with no value accrual is the outcome really surprising"
X Link 2025-11-28T04:56Z [--] followers, [---] engagements
"@ryandcrypto I genuinely hope future airdrops look very closely at the wallets that dumped $KNTQ day [--] before allocating their supply to them"
X Link 2025-11-28T04:59Z [--] followers, [----] engagements
"@realpeterjm Agreed people should want this too. Constant negative on funding $HYPE from too many entities attempting this would open up a world of opportunities. Interesting short squeeze implications too"
X Link 2025-11-28T15:43Z [--] followers, [---] engagements
"@jrugss @MetamateDaz There's a world where Hyperliquid should just airdrop HYPE to the points farmers on the core products on board some of the teams and bring things in house"
X Link 2025-11-28T16:07Z [--] followers, [---] engagements
"@CupOJoseph Yeah too many builders larping as "public good ecosystem contributors" expecting to exit for [--] figures. If your business contributes no value it's worth nothing"
X Link 2025-11-28T17:35Z [--] followers, [--] engagements
"@Invest_Brandon No shot you get 12% annually and make 25k a month from options. You're selling a ton of your upside to get those premiums"
X Link 2025-11-28T19:07Z [--] followers, [--] engagements
"@frankdegods Everyone still waiting for a broad "bull run" or "alt season" is likely to be disappointed. There will be sectors of clear outperformance and the high FDV garbage can continue to have anemic performance while those other sectors moon. Just the market getting more efficient"
X Link 2025-11-28T19:36Z [--] followers, [---] engagements
"@Ikh011 Typical crypto story. Great protocol bad tokenomics and value accrual"
X Link 2025-11-29T19:03Z [--] followers, [---] engagements
"@Borg_Cryptos 25bp cut is almost always bullish. The reason sometimes isn't. And in both cases it's usually priced in. Only when it's 50bp or 0bp when [--] is expected does it become generally bearish"
X Link 2025-11-30T00:59Z [--] followers, [--] engagements
"@mattbcapital @Lighter_xyz @HyperliquidX Think @Lighter_xyz could possibly outperform but TGE is almost definitely very bearish their metrics. Think it's likely you'll see a 50-75% drop in volume OI LLP TVL. Farming/wash trading will have a painful unwind. The next new shiny thing will vamp volume too"
X Link 2025-11-30T22:05Z [--] followers, [---] engagements
"I think fee compression is a generally bearish headwind sure but I don't agree with the rest. There are still billions of $HYPE earmarked for community incentives much more than the entire projected Lighter TGE. It's a very powerful lever to be able to pull. Lighter also self immolates when they turn points off. The entire reason to trade on Lighter goes away and liquidity will suffer. But there will always be another new shiny points program they need to compete against"
X Link 2025-11-30T22:50Z [--] followers, [--] engagements
"Even the most optimistic $BTC bulls on the timeline are calling this a bear trap. Before the larger bull trap at $98-108k. Not very many outright bulls left"
X Link 2025-12-01T01:14Z [--] followers, [--] engagements
"Only -45% to go for $200 $ZEC. We all really thought $ZEC rallying wasn't a risk off signal for the third straight time. Not tempted to knife catch this at all. Only accumulating $BTC and $HYPE on this dump so far. Scary to short but there's not a great track record in crypto of a previous flavour of the month losing it's status and reclaiming it again later. $200 beckons $ZEC https://t.co/Y9kJdDr9xQ Scary to short but there's not a great track record in crypto of a previous flavour of the month losing it's status and reclaiming it again later. $200 beckons $ZEC https://t.co/Y9kJdDr9xQ"
X Link 2025-12-01T05:23Z [--] followers, [---] engagements
"We know many of the $BTC bulls wanted to short $98-107k and didn't get it. Where do the $BTC bears want to long from (and likely won't get) Saylor cost basis and Tariff Tantrum wick at 74k Previous ATH at 68k We're at bearish euphoria I expect calls for 12k at this rate"
X Link 2025-12-01T05:38Z [--] followers, [--] engagements
"@WuppertFutures That's fair. My main point is that my main (only) reason to use Lighter right now is to farm points and keep money in LLP. Once those are gone it's unlikely I'll use it much. Also I use ETH every day but I'm not very bullish the token. Lighter may be similar"
X Link 2025-12-01T18:50Z [---] followers, [--] engagements
"@WuppertFutures So by bull case do you mean: 1) Lighter will dominate OI in the perp DEX market or 2) Lighter the token will outperform the rest of the market I don't actually think there's as direct a correlation between those as you think"
X Link 2025-12-01T18:56Z [--] followers, [--] engagements
"@WuppertFutures You lost me there 😬 The market is full of counter examples. Go look at $JUP revenue $AAVE TVL $ENA etc etc etc"
X Link 2025-12-01T19:00Z [--] followers, [--] engagements
"Surprised Saylors average entry on the $1.44bn in cash wasn't $1.03 @MicroStrategy really upping their execution game"
X Link 2025-12-02T08:36Z [---] followers, [---] engagements
"@mrpotato1357 The line between perp dexes and shady "on chain" bucket shops is getting increasingly blurred"
X Link 2025-12-03T19:10Z [--] followers, [--] engagements
"@CryptoKaleo Wouldn't this just be another lower high in a long down trend in ETHBTC"
X Link 2025-12-03T19:12Z [--] followers, [---] engagements
"@CryptonomistX @Ferrari4u2 Or that it's the only DEX with sufficient liquidity on the alt pairs and the difference in fees is less consequential to most people than UI/UX ecosystem etc"
X Link 2025-12-06T00:39Z [--] followers, [--] engagements
"Think the launch of @hyenatrade will be incredibly interesting to watch. Probably more bullish $ENA than it is $HYPE. If it leads to a material increase in circulating USDe (500m-1bn) I think we'll see a pretty strong rebound in $ENA. Good confluence with $ETH heating up too"
X Link 2025-12-09T23:11Z [--] followers, [---] engagements
"Closing this pair trade out mostly headed into FOMC. Still betting on $ETH strength through options but I think I can rehedge $HYPE again $32-$35 if desired. @chameleon_jeff entering war mode over HLP and ADL FUD is potentially scary could definitely see a short squeeze rip. This would have been the most cursed pair trade a few months ago. Still love long $ETH short $HYPE into EOY. $ETH strength has been very noticeable for some time now. https://t.co/qZSVeei2dD This would have been the most cursed pair trade a few months ago. Still love long $ETH short $HYPE into EOY. $ETH strength has been"
X Link 2025-12-10T06:48Z [--] followers, [---] engagements
"Long post incoming. There have been some outrageous takes lately on both @Lighter_xyz and @HyperliquidX. For some context I trade heavily on both I enjoy using both and I have 7+ figures of exposure to both. I believe that both can and likely will coexist. I have been vocally bearish on $HYPE heading into Lighter TGE and also vocally bearish Lighter token and metrics post TGE. Despite this my incentives are aligned with the hope that both moon. Those who are dismissing this recent outage on Lighter are simply being disingenuous and likely have a large portion of their net worth tied up in"
X Link 2025-12-11T01:04Z [--] followers, [---] engagements
"Hot takes for the next few weeks in @Lighter_xyz vs @HyperliquidX world: [--]. $HYPE has a ton of leverage building up (on chain and perps). It's not more likely to drop because of this but the severity of the drop would be worse if it did. Sub $25 likely leads to sub $20. Generational stink bid opportunity imo (especially if $BTC and $ETH nuke). [--]. Lighter revenue drops to sub $1m per week on average post TGE. Has already been falling off in the last few weeks from about $6-7m to $2-3m. [--]. Hyperliquid maintains about a 15-20x revenue lead over Lighter and therefore 15-20x FDV multiple 4."
X Link 2025-12-11T14:49Z [---] followers, [---] engagements
"@NMTD8 Not to gravedance but it must feel weird knowing that we're far more likely to moon now that you've unwound this position and derisked the onchain liq cascade"
X Link 2025-12-11T15:17Z [---] followers, [----] engagements
"Annualizing revenue during peak point farming season is insane. You actually make your own counterpoints. Lighter is only trading at a 2x better multiple compared to HYPE during their point farming season which is vamping revenue away from Hyperliquid and to Lighter. This is obviously unsustainable and likely to end soon. Combined with a much lower buyback percentage (which would likely cover a large degree of the multiple discrepancy already) the implied OTC price already likely has it at or around fair value on very apples to oranges metrics. This is also assuming @Hyperliquid doesn't fight"
X Link 2025-12-11T17:54Z [---] followers, [----] engagements
"@Lamboland_ Let me test it top [--] prjx points 👀"
X Link 2025-12-11T19:54Z [---] followers, [--] engagements
"A man just went to jail for [--] years for trying to give people unsustainable incentivized yield. But 35-40% LLP yield is sustainable regardless of capacity and not at all related to $100m of monthly incentives If you can't explain where the yield is coming from it's you"
X Link 2025-12-12T01:10Z [---] followers, [---] engagements
"@0xlykt Decentralize is an interesting way to say sell. Bitcoin whales haven't been selling just decentralizing ownership on us for two months now 😂"
X Link 2025-12-12T13:26Z [---] followers, [--] engagements
"Would not be opposed to $HYPE staying between $27-30 between now and the end of the year 👀 I will say with how badly $KNTQ has performed I'm internally writing these @prjx_hl points to zero. But the delusional bull in me is hoping @prjx_hl is the first HyperEVM runner. This is one of the ways I choose to express my views on the bottom being near (especially post @NMTD8 on chain leverage unwind) but still muted upside until @Lighter_xyz TGE. Relatively tight band LP on @prjx_hl. Happy to own $HYPE sub $27 and sit out some over $30. https://t.co/Ldx45Nssdv This is one of the ways I choose to"
X Link 2025-12-12T14:39Z [---] followers, [----] engagements
"@altoshi0x @lukecannon727 My millions of Hyperlend points are gonna be worthless huh 🥲"
X Link 2025-12-12T16:50Z [---] followers, [--] engagements
"That's how low the bar is in crypto. If Lighter only does 50% buybacks only captures 10-20% of the perps market longer term and only trades at 10-20% of the FDV of HYPE it's still a better hold than the majority of the rest of the market. I can simultaneously believe that Lighter is a great product with a great team in a great and expansive TAM at the same time as Lighter token being less aligned with the protocols success than HYPE Lighter metrics being unsustainably elevated by points pre TGE and that there will be more sellers than buyers around TGE due to the market conditions. If Lighter"
X Link 2025-12-13T08:21Z [---] followers, [--] engagements
"If you read some other stuff I've said I never said Lighter is going to zero I'm just dumping all of mine. I think it can absolutely hold up above $1.5-2.5bn. even if it stays at $4-5bn I'm incredibly happy to derisk the portion of my portfolio that just became 30% liquid float to a market that looks much weaker. So many perps traders I know have a majority of their net worth in Lighter points after 10/10"
X Link 2025-12-13T13:27Z [---] followers, [--] engagements
"@0xlykt Him selling made me stop hedging. His risk of getting liqed was too high"
X Link 2025-12-13T13:28Z [---] followers, [---] engagements
"@0xleegenz Think it's more likely Lighter TGE ends the perp dex meta than reinvigorates it. What's your target on PRJX points"
X Link 2025-12-13T14:41Z [---] followers, [--] engagements
"@skewga_hyper You shut your mouth before you ruin it 😂 agreed though HYPE long pair trades look great here imo. Tbf I also thought that higher"
X Link 2025-12-13T17:56Z [---] followers, [---] engagements
"Starting to realize that people don't actually realize how different the $LIGHTER/ $LIT and $HYPE trades are. Longing Lighter post TGE is a bet on Vlad plugging in with the right VCs and liquid token funds to crime the token up. I don't even mean this as a bad thing but alignment with Coinbase and Robinhood and many big players IS the bull case. Longing $HYPE is a bet on Jeff and team building an entire financial ecosystem OUTSIDE of the current regime. There's a reason HYPE still isn't on Coinbase and it took months to get native USDC and custodial support. This isn't inherently a good thing"
X Link 2025-12-13T18:46Z [---] followers, 51.5K engagements
"Gating LLP deposits by staked Lighter would be a massive own goal to their own liquidity and highly unlikely. Other than that it's just strictly less utility than HYPE Lower buyback percentage not a gas token not used/burned for listing auctions not as useful for fee discounts"
X Link 2025-12-13T19:09Z [---] followers, [--] engagements
"Gating LLP deposits by staked Lighter would be a massive own goal to their own liquidity and highly unlikely. Other than that it's just strictly less utility than HYPE Lower buyback percentage not a gas token not used/burned for listing auctions not as useful for fee discounts"
X Link 2025-12-13T19:10Z [---] followers, [---] engagements
"@BigCheds $BTC sentiment is nowhere near ATL. Altcoin sentiment probably is close. Reminds me of [----] BTC sentiment where people genuinely had no idea if it was ever coming back"
X Link 2025-12-13T19:19Z [---] followers, [---] engagements
"@reisnertobias [--] years Probably the BTC tbh Go look at the CMC from [--] years ago and tell me how your Peercoin is doing 😂"
X Link 2025-12-13T19:33Z [----] followers, [---] engagements
"People are likely using polymarket to hedge points and OTC purchases which would have a slightly negative skew to expectations. I'd assume points OTC price and polymarket are very close but 10-15% discounted. Unlikely it launches over $4bn imo especially in these market conditions"
X Link 2025-12-13T20:02Z [---] followers, [---] engagements
"My views are always nimble you might see me making posts about a $LIT / $HYPE L/S pair trade if Lighter is sub $1.5bn in a few weeks. I just think there are two possible paths and I'll let you guess which one of them is MUCH more likely. Path 1: Lighter does amazing token pumps to $10+ all other perps dex points rerate much higher everyone is happy and makes money. Race to the bottom of fee compression ends with everyone winning a participation trophy and all of CT rejoice in an infinite money glitch being discovered Path 2: $100m of monthly subsidies drying up tanks Lighter volume 60-70%"
X Link 2025-12-13T22:44Z [---] followers, [----] engagements
"@noob33993 So you're of the opinion that risk on/risk off is a binary switch and if we're risk on go for the most risk on asset possible So if fundamentals don't really matter why not long $FARTCOIN then"
X Link 2025-12-13T23:03Z [---] followers, [---] engagements
"@noob33993 Not sure why you're attacking me personally Attack my points. Why choose Lighter as the long leg Why choose HYPE as the short leg "Ideally I'll short the top of a rally that might not happen" is also hilarious as your overarching thesis"
X Link 2025-12-13T23:26Z [---] followers, [--] engagements
"@0xmjt . I'm literally not a .HL I just posted about shorting millions of HYPE on chain 😂 I feel like you're using my post to argue against a community of people that I'm not really in making points that I'm not making"
X Link 2025-12-14T03:25Z [---] followers, [--] engagements
"@bbzzzbbzzz @noob33993 I've explained already the fees I pay are the exact same as on Hyperliquid. Around 2bps taker 0.2bps maker. After points are over there will be very little keeping me there. Portfolio margin on Hyperliquid would be considerably more valuable for the capital efficiency"
X Link 2025-12-14T10:53Z [---] followers, [--] engagements
"@Looberr @Bybit_Official @ethena_labs Cash and carry just too attractive to Tradfi. 10%+ risk "free" rate in crypto was bound to go down eventually"
X Link 2025-12-14T14:08Z [---] followers, [----] engagements
"@Tudmotu @Bybit_Official @ethena_labs Oh I definitely agree that we will and have seen more attempting to tokenize these types of carry/basis trades. That's kinda the bear case though 😂"
X Link 2025-12-14T14:35Z [---] followers, [----] engagements
"The core purpose of USDe was regulatory arbitrage and tokenizing a very lucrative cash and carry trade to give access to people who didn't have the accounts or expertise to run it themselves. Every value prop of it is diminishing as the venues in which the trade is being run are getting into the competition. Their moat is decreasing. USDe specifically also sits in the unhappy middleground of not being GENIUS compliant and also not providing the most curated/highest returns as some of these new yield bearing stables are. Once Hyperliquid and Lighter have portfolio margin enabled the onchain"
X Link 2025-12-14T14:47Z [---] followers, [----] engagements
"Co-founder at Delphi Digital @ZeMariaMacedo commented on my ENA post calling it "FUD" and then deleted his response. I find it intellectually dishonest to not respond to his points but first some context: Delphi Digital Ventures was one of the seed round investors in $ENA for their first $6.5m raise. You can see him bullposting Ethena here in April 2024: Now I'm sure that since $ENA was "one of our (Delphi Digital Ventures) highest conviction bets" that they and the other seed round VC investors like Dragonfly and Malestrom must love $ENA even more now that it's down 70%+ from when this post"
X Link 2025-12-15T00:40Z [---] followers, 21.3K engagements
"@catwychan @Bybit_Official @ethena_labs I caught this after I posted but you are 100% correct. I see a $1.88bn supply not sure how accurate that is though. But a material % of USDe supply"
X Link 2025-12-15T03:13Z [---] followers, [---] engagements
"Exactly and this hypothetical wasn't even meant to paint a base case necessarily. My point was that we know when Hyperliquid makes a dollar we're getting a $0.97 buyback. Say Robinhood pays Lighter a licensing fee buys out the equity etc. What happens with tokenholders It's the same old same old where there's a huge chance for misalignment between equity holders and token holders"
X Link 2025-12-15T10:03Z [---] followers, [--] engagements
"@kropts None of the instantaneous asymmetrical returns that made memecoins attractive. No crazy dopamine hit"
X Link 2025-12-15T10:34Z [---] followers, [---] engagements
"I can't take it anymore. The boredom. I swear if $HYPE stays between $27-30 any longer. I'll just keep printing LP fees. There always a bull market somewhere. Would not be opposed to $HYPE staying between $27-30 between now and the end of the year 👀 I will say with how badly $KNTQ has performed I'm internally writing these @prjx_hl points to zero. But the delusional bull in me is hoping @prjx_hl is the first HyperEVM runner. https://t.co/EV11Nhb9b2 Would not be opposed to $HYPE staying between $27-30 between now and the end of the year 👀 I will say with how badly $KNTQ has performed I'm"
X Link 2025-12-15T12:37Z [---] followers, [----] engagements
"I'm not sure USDe being able to be sold is a feature and not a bug in this context. USDe is currently trading at a 5-7bps discount on CEX. It's just added friction vs 1:1 redeemability. It's actually a much worse pain point than it sounds because when USDe yields are high there's higher demand for it and it tends to trade at a premium (as high as 25bps). So when you want it it's expensive and when it's no longer worth holding (like right now) there's an orderly exit and you end up losing on both sides of the trade. 1:1 redeemability lets a trader like me be way more nimble. I was"
X Link 2025-12-15T13:11Z [---] followers, [---] engagements
"Why @Eugene_Bulltime is so wrong about Lighter's valuation Why are we using TVL That might unironically be one of the most useless stats for a perps dex. Volume is bad OI is better fees is probably best (fees directed to tokenholders better still). Justin Sun just added $100m of TVL to LLP in the last week did that magically increase Lighter FDV by $500m From Nov [--] to now @Lighter_xyz has generated $29.4m in fees. Hyperliquid has done $137m and Aster has done about $75m. Using these ratios $LIT would be valued at $6.2bn vs $HYPE fees/FDV and $2.75bn if you use $ASTER fees/FDV. Why is $ASTER"
X Link 2025-12-15T14:08Z [---] followers, [----] engagements
"Exactly. This is why I mentioned Lighter and Hyperliquid allowing for onchain basis trade at scale too. Ethena's whole edge was that it was regulatory arbitrage; people without CEX accounts could access CEX capacity for the basis trade. Hyperliquid especially has a ton of reason to want to promote their own stablecoin $USDH and portfolio margin for this trade further eating into the value prop of $USDe"
X Link 2025-12-16T15:52Z [---] followers, [--] engagements
"Very good post. Do want to clarify that I wouldn't even say I'm a Lighter bear I think the product and team are exceptional. I'm specifically a TGE bear. I think there's definitely a situation where buying $LIT at the bottom of a post TGE/current bear market dump will be a kingmaker trade for [----]. I think your lines are spot on though. Will be buying in size as we approach the previous VC round valuation of $1.5bn and selling everything I get if we launch higher"
X Link 2025-12-16T15:54Z [---] followers, [----] engagements
"@playrisk @SpecialistXBT Mind you $XPL and $MON fit this exact same argument 😬"
X Link 2025-12-16T16:03Z [---] followers, [---] engagements
"@playrisk @SpecialistXBT They haven't actually announced their tokenomics yet right I'm waiting for that before betting on polymarket for FDV"
X Link 2025-12-16T16:13Z [---] followers, [---] engagements
"@SpecialistXBT @playrisk 100% agreed but it's also launching in a considerably more dumpster fire market especially than $XPL. $MON PA wouldn't shock me which isn't the best picture either 😅"
X Link 2025-12-16T16:27Z [---] followers, [---] engagements
"@0x_antifragile @SpecialistXBT @playrisk Probably not at TGE but could definitely see it getting there after especially if the market remains this bearish. $MON price action would be believable (launch at $3bn pump to $5bn bleed to $2bn)"
X Link 2025-12-17T01:03Z [---] followers, [---] engagements
"These @Lighter_xyz points better be worth way more than I've been arguing they should be 😂 $LIT to $100 Staying in this one for now though. Tom Lee send help"
X Link 2025-12-17T02:10Z [---] followers, [---] engagements
"I think the market already perceived these $HYPE as burned/out of circulation so in theory it should be mostly priced in. Really watching the markets reaction to this "news" is much more important. If we don't start testing $30 soon might be a sell the news type of event"
X Link 2025-12-17T03:18Z [---] followers, [----] engagements
"@MaxBid24 I think the optics of FDV reflecting the buyback is definitely non-zero. Removes one piece of FUD too. But ultimately probably not the bull catalyst people think it is"
X Link 2025-12-17T03:54Z [---] followers, [---] engagements
"379% Funding rate is not what you love to see right now with all this open interest getting added on nothingburger news 🙃 Going to have a lot of people underwater from $27.50-$29 if things go south. Breaking through that resistance is probably the sign for go time on $HYPE"
X Link 2025-12-17T04:14Z [---] followers, [----] engagements
"@aaalexhl This is pretty much the only bullish point about the announcement I agree with. Means nothing to short term tokenomics/float dynamics and price. Means a ton when tradfi investors are doing due diligence down the road. Might have even been necessary for ETFs"
X Link 2025-12-17T04:23Z [---] followers, [---] engagements
"I'm pretty explicitly saying this isn't really that good short term. It's definitely a good and necessary longer term optics cleanup though. Removes one concern tradfi investors might have had. FDV comparisons for multiples reflect the reality of the situation. It's strictly good just not that good and definitely not that impactful short term"
X Link 2025-12-17T04:26Z [---] followers, [---] engagements
"Some of you guys are absolutely exposing yourselves as having never had a conversation with non-crypto native tradfi guys. There's skepticism on every part of our industry. You wouldn't believe the questions and concerns I've heard during a pitch. The nebulous treatment of the assistance fund coins was absolutely a concern for real investors. The asterisk next to FDV was absolutely going to be increasingly missed. This change is obviously more for optics than anything but come on. It's strictly positive for $HYPE. Just not that positive especially not short term. @aaalexhl bc I think it's"
X Link 2025-12-17T04:43Z [---] followers, [----] engagements
"Strong disagree. If you want an insurance fund have a clearly marked insurance fund preferably in USDC (which exists). Surprised to see how many people treated these as out of circulation but want them kept around to possibly be.put into circulation Removing the uncertainty is the whole point"
X Link 2025-12-17T07:17Z [---] followers, [----] engagements
"The assistance fund would be 3x the size of Bybits insurance fund and approximately the same size as Binances for a fraction of the OI of both. Insuring the protocol with the asset most correlated with a black swan event on said protocol is insane. Why are people trying to retroactively repurpose the assistance fund https://twitter.com/i/web/status/2001195350095245521 https://twitter.com/i/web/status/2001195350095245521"
X Link 2025-12-17T07:38Z [---] followers, [--] engagements
"Oh it was never going to last for that exact reason I wasn't worried about that. I was worried about the fact that it's a sign a bunch of people just fomo longed and are immediately underwater on this announcement. A lot of those people will be looking to close at breakeven when they realize it's not that bullish=strong resistance $28+"
X Link 2025-12-17T12:06Z [---] followers, [---] engagements
"If today's change was accurate I'd be approaching breakeven on the year. Hopefully it's not a UI glitch and just @prjx_hl taking into account the value of my points Don't think I can hit $1000000 in LP fees earned by EOY but who knows with $HYPE forever being stuck $27-30"
X Link 2025-12-17T15:20Z [---] followers, [---] engagements
"Relative strength in the recent bear regime has just been people hiding/delayed capitulation. It's not strength it's just not your turn yet. Sub $4bn for $LIT on Polymarket looking real attractive especially with the kicker of winning if we don't launch by EOY"
X Link 2025-12-17T16:27Z [---] followers, [---] engagements
"Whales keep trying to 10x long the pico lows on $HYPE which sets new liq hunt targets. No point bidding until leverage overhang is removed. No chance this guy doesn't get run unless he takes immediate action. $HYPE at $255 wow What went wrong guys $HYPE at $255 wow What went wrong guys"
X Link 2025-12-17T17:54Z [---] followers, 19K engagements
"Update: Just keeps closing his long out the minimum amount when he's $0.20 away from liq. Play stupid games win stupid prizes. Still seeing funding elevate on dips. Rip the band aid off. These idiots are giving you generational entries on $HYPE. Just be patient. Whales keep trying to 10x long the pico lows on $HYPE which sets new liq hunt targets. No point bidding until leverage overhang is removed. No chance this guy doesn't get run unless he takes immediate action. https://t.co/ikhjVC39jP Whales keep trying to 10x long the pico lows on $HYPE which sets new liq hunt targets. No point bidding"
X Link 2025-12-17T23:58Z [---] followers, [----] engagements
"Vehemently disagree with this take and for all the people coming after $HYPE buybacks (and now burn). It's impossible to say exactly how much impact $1bn of buys had on $HYPE price this year but to say it's zero is insane. As bad as recent PA is $HYPE is one of the few coins not meaningfully down YTD. Obviously in the short term $2-3m/day don't impact price much but the long term impact is undeniable. Outside of the practical effects on price I'd argue that this type of mechanism is absolutely necessary for long term alignment. We're seeing the impacts of equity vs token misalignment with"
X Link 2025-12-18T14:38Z [---] followers, 14K engagements
"Think we're getting to the zone on $HYPE where you just close your eyes hold your nose and bid. Could be underwater between now and EOY but it's a reasonable double from this point on even a bear market rally with some legs in Q1 26'. OI has dropped a good bit and many of the overleveraged whales have been fully or partially wiped. I think one more high volume leg down in a capitulation/liquidation cascade is definitely possible and I'd want more capital ready to bid that but keeping my hedges here no longer feels +EV. If you think $HYPE is a $100 coin in the next two years don't miss bidding"
X Link 2025-12-19T03:15Z [---] followers, 13.4K engagements
"@0xfanatic I will say that a little more clarity from the team would be very bullish and probably dispel a lot of FUD"
X Link 2025-12-19T14:55Z [---] followers, [----] engagements
"Are we seriously talking about Gains GMX Jupiter dYdX as competition Coinbase devs only just got 4hr candles and are probably another few years from 1D candles being ready to ship. Lighter and Hyperliquid will gain more ground on CEXs than alt DEXs will gain on them in 26' List of Hyperliquid competitors (so far): Lighter Aster EdgeX Apex Gains GMX Paradex dYdX Jupiter Avantis. Now Throw in Coinbase and Robinhood. There's virtually no moat for Perps and the UX is only improving across the board. Where does this leave $HYPE List of Hyperliquid competitors (so far): Lighter Aster EdgeX Apex"
X Link 2025-12-20T19:44Z [---] followers, [----] engagements
"Absolutely agree. Markets hate uncertainty. But you get paid for the risk you're willing to take. The team has been incredibly ecosystem friendly and aligned with tokenholders up to this point and I'm comfortable taking the risk that they'll continue that. But it's strictly net positive to have better transparency on vesting schedule. Funnily enough I consider this to actually be part of the current bull case. The market is pricing in the worst case scenario due to uncertainty and a simple post from Jeff/team could dispel that uncertainty instantaneously. Imagine the rally on Jeff locking his"
X Link 2025-12-20T22:46Z [---] followers, [--] engagements
"What are people's thoughts on $LIT price action so far on pre-markets Looks to be coming in exactly as expected/predicted via OTC/Polymarket ($3-4bn). Hyperliquid premarket seems a lot less volume/interest than I would have expected tbh. Slightly bearish slant to that imo. Current base case for me is mostly down from TGE but lots of sidelined money waiting to buy lower which usually means people get greedy and bid too low don't get filled and then chase. Hard to envision a world where a 30% supply unlock is bullish in this current market though. Volume for all perps platforms is seasonally"
X Link 2025-12-25T19:01Z [---] followers, [----] engagements
"End of S2 $LIT points final weekly stimmy check of $10k. Time to switch back to a free account. I assume lots of other whales switch accounts back to free accounts over the coming weeks. Will be very curious to see the drop in % of premium vs free accounts"
X Link 2025-12-27T02:54Z [---] followers, [---] engagements
"If @Lighter_xyz really starts S3 of points immediately at TGE as this implies I think you just have to dump it. Way too easy to spiral into the reflexive negative feedback loop that so many other tokens have fallen into. [--]. Need emissions to keep TVL/DAU/rev sticky [--]. Emissionsbuybacks (Lighter needed around $4 of points per $1 of revenue generated pre TGE very likely would be worse post TGE) [--]. Token price down only [--]. Emissions worth less and less need more to keep metrics up. This is exactly why $ENA is on S5 with a down only token price. $ASTER in a similar boat right now. I love the"
X Link 2025-12-27T16:26Z [---] followers, 21.5K engagements
"@bbzzzbbzzz @Lighter_xyz Hyperliquid has a massive war chest reserved but isn't tapping into it yet. Think they are just going to let the competition destroy themselves for free first"
X Link 2025-12-27T16:44Z [---] followers, [---] engagements
"I feel like $LTC is highly likely to get a $SLV or $ZEC style run of 5x in a month on a "digital silver/privacy coin" catchup trade to $BTC It'll probably just be from $20 to $100 in [----] and mark the pico top of that market. On the watchlist nonetheless"
X Link 2025-12-27T18:05Z [---] followers, [----] engagements
"@JackyGekko @Lighter_xyz Much more lucrative trading/investing. "Show me the incentive I'll show you the outcome". Just connecting the dots for people"
X Link 2025-12-27T18:37Z [---] followers, [---] engagements
"Different protocols can use the same playbook (sacrifice token price for market share). Different tokens can have the same outcome (down only). Thank you though I always make sure to FUD my biggest bags so I'm either right or rich 😂 But no seriously I try to put out unbiased takes. My take on the situation is that Lighter is too reliant on incentives and this will end poorly for tokenholders. Fwiw this is my same take for 99% of the industry. Happy to be proven wrong though the industry needs more viable tokens"
X Link 2025-12-27T19:22Z [----] followers, [---] engagements
"Progressively decentralizing ownership might not even be top [--] in their list of reasons to continue with emissions 😂 I think the argument goes both ways though. Doing emissions via points before a live token is easy nobody really feels the pain. Doing emissions with a live token ($ASTER and $ENA) probably ends much worse because people will actually feel the dilution in price. It'll be apples to oranges vs pre-TGE competition. I'm also not sure there's any competitor that's terribly worth worrying about outside of HL"
X Link 2025-12-27T21:03Z [---] followers, [---] engagements
"@ruggedpikachu Great analysis no moon math. I think regardless of the first week of PA we're going to get an opportunity to buy $LIT at $2-3 in Q1. Same thoughts essentially dump TGE maybe add back in later if it gets oversold"
X Link 2025-12-27T22:55Z [---] followers, [---] engagements
"Still a bit early but everything about the $LIT launch and @Lighter_xyz tokenomic reveal feels a bit.underwhelming and poorly executed Stealth launched at 2am EST Immediately crashes withdrawals Lower airdrop % than expected (25% vs 30%) No $LIT perps on launch (@HyperliquidX likely to dominate volume and price discovery) "Buybacks depending on market conditions" is a massive red flag imo. You're openly communicating to the market when you think your token is overvalued. @Lighter_xyz services being gated by staked $LIT Much higher investor allocation than expected (24% which means the $69m"
X Link 2025-12-30T15:41Z [---] followers, 18.5K engagements
"@ClBlockchain It sounds good on paper to try to game buybacks when token price is lower and to raise cash when it's higher. But it becomes a self fulfilling prophecy where you communicate to the market when you think your own token is mispriced and then you fall out of alignment"
X Link 2025-12-30T16:24Z [---] followers, [---] engagements
"Anyone know the exact tax situation for the $LIT airdrop Potentially very big deal. Airdrops are taxable as ordinary income when you "take dominion over them" (today). So everyone who got an airdrop has a taxable liability for [----]. But what's the cost basis/price when we took dominion If it's [--] like it was for $HYPE then most people are sitting on a very small ordinary income bill and a much larger unrealized cap gain. (generally ideal unless you want to realize the gain in 2025) If it's defined differently like end of day price then everyone is on the hook for a massive ordinary income tax"
X Link 2025-12-30T17:45Z [---] followers, [----] engagements
"@Mr__Gollum Pretty huge difference but thank you that was my understanding as well"
X Link 2025-12-30T17:53Z [---] followers, [---] engagements
"@beingivish I've actually been incredibly positive on @Lighter_xyz the platform (minus the very poorly timed downtimes). I just think $LIT the token isn't a great hold. This is very common in crypto imo"
X Link 2025-12-30T18:56Z [---] followers, [---] engagements
"I'm pretty neutral on $LIT here and generally focused on finding the next big thing/trade but if I was bullish on $LIT one metric would be scaring me the most right now. Since the local peak in volume (mid to late November using 11/16-11/23 stats specifically) volume has fallen from $75bn to $31bn this last week of December for a decrease of 60%. Not really a massive concern volume is cyclical this is a lull of low trading volume it'll come back. In the same time frame @HyperliquidX is down from $63.4bn to $26bn for a nearly identical 60% drop. Aster in a similar boat slightly worse. Long"
X Link 2025-12-30T19:50Z [---] followers, [---] engagements
"I'm pretty neutral on $LIT here and generally focused on finding the next big thing/trade but if I was bullish on $LIT one metric would be scaring me the most right now. Since the local peak in volume (mid to late November using 11/16-11/23 stats specifically) volume has fallen from $75bn to $31bn this last week of December for a decrease of 60%. Not really a massive concern volume is cyclical this is a lull of low trading volume it'll come back. In the same time frame @HyperliquidX is down from $63.4bn to $26bn for a nearly identical 60% drop. Aster in a similar boat slightly worse. Long"
X Link 2025-12-30T20:18Z [---] followers, 12.3K engagements
"@Hy_Purr_liquid I don't really ask why the point of this post is to say that way more volume was being put through paid accounts than people probably thought and therefore generating revenue from free accounts is much less promising/harder than it looked a month ago"
X Link 2025-12-30T21:34Z [---] followers, [---] engagements
"Ding ding ding I've written pretty extensively about this dilemma. Sacrifice token value to boost metrics or sacrifice metrics and token value by extension. Both are bad but seeing how sensitive revenue is to incentives it's probably the lesser of two evils to keep the incentives rolling"
X Link 2025-12-30T22:15Z [---] followers, [---] engagements
"@CryptoMtnDrew Yeah the timing is a HUGE part of my more bearish slant. I fully would subscribe to the notion that if $LIT launched when $XPL did it'd probably be trading several multiples higher. But you can only really trade the situation you're given"
X Link 2025-12-31T00:24Z [---] followers, [---] engagements
"Without buybacks it's just another token with zero alignment and value accrual. We thought there would be buybacks and the uncertainty around that (and the falling revenue in general) is what is now being priced in. It's not really bullish vs bearish so much as falling short of expectations. https://twitter.com/i/web/status/2006523703236952453 https://twitter.com/i/web/status/2006523703236952453"
X Link 2026-01-01T00:31Z [---] followers, [---] engagements
"@loraclexyz on $HYPE right now Looking to get filled heavily if we retest the lows around $22. https://hypurrscan.io/address/0x8def9f50456c6c4e37fa5d3d57f108ed23992dae https://hypurrscan.io/address/0x8def9f50456c6c4e37fa5d3d57f108ed23992dae"
X Link 2026-01-01T16:16Z [---] followers, [---] engagements
"So many bad takes regarding the @Lighter_xyz drama Justin Sun buying $LIT isn't really that bullish (see $XPL or CZ "setting the floor for $ASTER at $0.90) Incentivized liquidity deals aren't really bearish though the comms (or lack thereof) aren't a great look the D in FUD means "disinformation" not information that was immediately confirmed. Just say it's NBD instead None of this really matters that much. Market only cares about revenue and more information on buybacks and S3. Unless the comms over buybacks are similarly mishandled I think you could see a small $LIT pump on a good"
X Link 2026-01-01T17:37Z [----] followers, [----] engagements
"@Najdorf250 @Lighter_xyz You know I've heard it as disinformation but doubt does seem to be more common"
X Link 2026-01-01T18:27Z [---] followers, [---] engagements
"It's a much better trade because you're also protected against a prolonged lull in perps volume too. Anything is possible with CZ/Binance/Aster but it's hard to see Aster remaining as relevant in the current environment between Lighter/Hyperliquid and new point subsidized perp dexes. https://twitter.com/i/web/status/2006798821523861954 https://twitter.com/i/web/status/2006798821523861954"
X Link 2026-01-01T18:44Z [---] followers, [---] engagements
"@Najdorf250 @Lighter_xyz Yeah my point was really just that you can't call objectively good reporting FUD when it's immediately confirmed 😂 I just don't think the narrative matters much"
X Link 2026-01-01T18:45Z [---] followers, [--] engagements
"@pondermint @Lighter_xyz Yeah I could see as many bearish arguments as bullish tbh but net nothingburger imo. I think him getting to put in uncapped LLP deposits was kinda fishy though"
X Link 2026-01-01T19:10Z [---] followers, [---] engagements
"@krsmece77699 @Lighter_xyz I learned today it's all of the above 😂 But seems doubt is most common. Point remains that someone shedding light on a situation isn't really FUD just because you don't like it"
X Link 2026-01-01T19:16Z [---] followers, [---] engagements
"A more fair and transparent "credibly neutral" system does not entail some communist ideal of equal outcomes for all. In fact it generally leads to the opposite. Early risk takers get disproportionate rewards. Been that way from Phoenician traders to the pioneers of quant arbs. why The House of All Finance should have own network token the Internet doesnt have equity and own cryptocurrency a credible neutral technology wouldnt have 54.8% of supply owned by early points holders and the core contributors its no different than the financial world why The House of All Finance should have own"
X Link 2026-01-01T19:52Z [----] followers, [----] engagements
"This is deflecting blame from where it really deserves and from what has made $JUP a value trap in [----]. Your perps product is derivative of the old $GMX style collateral pool. Fees funding rates and liquidity are all worse than newer CLOB style perp dexes like @HyperliquidX and @Lighter_xyz. The killer product for @JupiterExchange this entire time has been $JLP and that's where most value accrual went. I'd know because I've been max long looping it for [--] years. $JLP has massively outperformed it's basket components from fees and this is emblematic of the fact that both Jupiter and GMX are"
X Link 2026-01-03T15:53Z [----] followers, [----] engagements
"@DustinTrade 200000k $LIT to sell into [-----] $HYPE"
X Link 2026-01-03T16:03Z [---] followers, [---] engagements
"@sssionggg @HyperliquidX I've wanted to long $JUP for so long but this is the reason I haven't. If you guys had a perps offering that was competitive would probably be one of the best DeFi superapps with a token worth holding"
X Link 2026-01-03T16:06Z [---] followers, [---] engagements
"@CryptoMtnDrew @HyperliquidX Exactly. Buybacks in the face of being fundamentally doomed is just propping up token value for vestoors to get out. $70m into a Hyperliquid competitor would probably see $JUP multiples higher right now"
X Link 2026-01-03T16:08Z [---] followers, [---] engagements
"I was today years old when I learned that most of the founders in this industry are absolutely brilliant software devs but have sub-room temperature IQ with regards to tokenomics and incentive structures. The state of the industry and discourse we're seeing today can be summed up as: Develop a protocol that's probably a fork or slight derivative of another (frequently unnecessary) protocol Your protocol is facing fee compression increased competition tech obsolescence or poor PMF so you add buybacks to pump your token (frequently into team/investor unlocks 🤡) Your balance sheet is now"
X Link 2026-01-03T18:27Z [---] followers, [----] engagements
"Not sure why people are painting $LIT as a candidate for a "hated rally". Maybe a few very loud detractors on here but generally feels people are pretty well positioned for upside to it. $XPL is probably a much better "hated rally" candidate"
X Link 2026-01-06T15:40Z [----] followers, [----] engagements
"The 10:1 ratio must be respected. $HYPE to $30 or $LIT to $2.80 Small size for now. I think S3 $LIT announcement might provide a better short entry on $LIT. Any deviation in revenue ratio to price is probably a longer term trade opportunity"
X Link 2026-01-06T17:31Z [----] followers, [----] engagements
"@kdotcrypto HLP has been pretty transparently turned into a vestigial organ for Hyperliquid. It was always intended to be phased down as primary liquidity provider"
X Link 2026-01-06T17:46Z [---] followers, [---] engagements
"A final note on the buybacks FUD to those who say that teams are better off investing that money back into "growth". What does growth entail in [----] @infinex has a team 5x the size of @Hyperliquid. With Claude etc we're likely to see much leaner teams with much lower headcounts going forward. One cracked dev with the proper blend of peptides nootropics and AI assistance can likely output the same as [--] devs from a few years ago. Paying for listings is likely to get cheaper and easier as perps DEX's like $HYPE and $LIT disrupt the CEX listing model. Marketing to the masses has proven"
X Link 2026-01-06T19:22Z [----] followers, [----] engagements
"Off to a good start on $HYPE long $LIT short. $LIT long and $ASTER ratio short is also up quite a bit since I mentioned it. One of the good things about these protocols being valued on real metrics is that you have very tradeable alpha. Eventually that'll decay as more people pay attention. The 10:1 ratio must be respected. $HYPE to $30 or $LIT to $2.80 Small size for now. I think S3 $LIT announcement might provide a better short entry on $LIT. Any deviation in revenue ratio to price is probably a longer term trade opportunity. https://t.co/qUU4tU7WE7 The 10:1 ratio must be respected. $HYPE"
X Link 2026-01-07T02:59Z [----] followers, [----] engagements
"All of that is highly speculative. If you want to bet that every dollar of revenue that Lighter generates is more valuable than Hyperliquid and that they are a better growth story you absolutely can. Not a crazy trade I'll just be taking the opposite in that their revenues will be closely correlated to price. https://twitter.com/i/web/status/2008740811375042688 https://twitter.com/i/web/status/2008740811375042688"
X Link 2026-01-07T03:21Z [---] followers, [--] engagements
"I don't like to FUD unless I see it as a community service but why would anyone use @ryskfinance especially for selling $HYPE options They are quoting premiums at 50-80% lower than what they should be. Selling 500x Jan30 $30 $HYPE calls gets you $120.56 in premium on Rysk: But you'd get $494 in premium on @DeriveXYZ. Selling $24 cash secured puts for Jan30 would get you $272 in premium on Rysk vs $696 on Derive. Derive doesn't have amazing liquidity yet (I have [--] affiliations with either btw) if you're trying to do larger size (neither does Rysk tbf) but selling vol this cheap on $HYPE makes"
X Link 2026-01-08T16:29Z [----] followers, 16.9K engagements
"@0xmjt @ryskfinance Which brings me to my other point maybe we shouldn't make one of the most complicated instruments with infinite downside more user friendly to access 😂"
X Link 2026-01-08T16:33Z [---] followers, [---] engagements
"@WuppertFutures @0xmjt @ryskfinance Derive absolutely it's a great platform just totally lacking liquidity. Rysk absolutely not I think they are predatory in nature. They try to package selling vol as "earn yield" and they don't let you buy calls because then it'd expose their outrageously predatory spreads"
X Link 2026-01-08T17:58Z [---] followers, [---] engagements
"@canikizu @ryskfinance Right like I said liquidity isn't amazing on Derive but at least they are trying to be a real options book. Notice Rysk doesn't let you buy calls because it'd expose their practices when you can sell a $30 call for $0.40 and buy one for $4"
X Link 2026-01-08T18:35Z [----] followers, [---] engagements
"I'd agree 99% of the time. I think the HyperEVM suffers explicitly as a result of the strength of $HYPE fundamentals. But I also think that consistent underperformance has given at least a slightly interesting asymmetry. $KNTQ specifically gives exposure to Tradfi perps liquid staking HYPE ETF infra etc so it's differentiated enough that it's at least a little interesting at a $80m FDV (0.3% of $HYPE FDV compared to 0.5% for $JITO / $SOL with much more interesting utility imo) This is absolutely a short/medium duration trade though. Over a 3-5 year time horizon I'd absolutely rather hold the"
X Link 2026-01-08T19:09Z [----] followers, [----] engagements
"@escotradingg Yes $KNTQ is exposure to how profitable @kinetiq_xyz is as a HIP-3 deployer"
X Link 2026-01-08T21:36Z [---] followers, [---] engagements
"@Versace_Trader There may have been a TWAP or two 👀"
X Link 2026-01-08T22:11Z [---] followers, [---] engagements
"@0xdataxbt Sometimes you need to be okay with being super underwater on this stuff. "Early but not wrong" type of vibe. I'm prepared if we crash back down to [----] but eventually hit 0.40"
X Link 2026-01-09T10:14Z [---] followers, [--] engagements
"Debating what will have a higher ROI in [--] years @HyperliquidX tradfi spot tickers or Venezuelan beach front property NEW SPOT TICKER The ticker $OPENAI bought for [------] $HYPE or 13055$ https://t.co/Ze3bnDjEKd NEW SPOT TICKER The ticker $OPENAI bought for [------] $HYPE or 13055$ https://t.co/Ze3bnDjEKd"
X Link 2026-01-09T16:45Z [----] followers, [----] engagements
"Thank you to everyone who liked and commented but didn't sell me any cheap $KNTQ and instead decided to front run me 🙃 Also looking to OTC buy 2m+ $HYPE please also front run me there Anyone want to OTC me some $KNTQ Looking to do 2m+ KNTQ size I'm currently at the depths of the Marianas Trench underwater on my initial buys but looking to take a punt here. Probably one of only a few $HYPE betas I could see outperforming over a longer time horizon. The https://t.co/K7mi8iYl5V Anyone want to OTC me some $KNTQ Looking to do 2m+ KNTQ size I'm currently at the depths of the Marianas Trench"
X Link 2026-01-09T16:51Z [----] followers, [----] engagements
"@jaysu @ryskfinance An illiquid platform trying to build a real on chain options book is better than a predatory platform offering 100% -EV quotes imo"
X Link 2026-01-09T21:02Z [----] followers, [--] engagements
"@jaysu @ryskfinance This is a very bizarre way to frame it. I'm also not promoting Derive I'm showing their pricing because it's very similar to the pricing I pay OTC. But if you want to sell vol at a 75% discount go for it"
X Link 2026-01-09T21:20Z [----] followers, [--] engagements
"I've slightly revised my $LIT thesis and am closing this $LIT short leg out here. I don't think the potential fundamental issues with @Lighter_xyz are short term catalysts for more downside and I can recognize that I could easily get my face ripped off on this if we get a bullish impulse. Not worth playing with fire at what feels like a fair valuation. One update in my views on @Lighter_xyz is also that it is meaningfully "growing the pie" in perps volume. A lot of traders and trading/hedging strategies are only possible/profitable in a no fee environment. Lighter obviously takes volume away"
X Link 2026-01-10T17:15Z [----] followers, 18.3K engagements
"@bitcoinduke @Lighter_xyz I'm in no rush if we get price discovery in the opposite direction things can probably get ugly fast. I like stink bids here a lot though some bad Justin Sun/Techno Revenant news and you could probably snag sub $2 fills"
X Link 2026-01-10T22:48Z [----] followers, [---] engagements
"@muddyhl @bitcoinduke @Lighter_xyz $2bn isn't even a crazy move from here. Would only take a BTC move back into the mid 80s and a couple more bad revenue days"
X Link 2026-01-11T03:39Z [---] followers, [--] engagements
"I agree with not over indexing on very recent revenue but it feels like moving the goal post to say the clear downtrend doesn't matter. I think this would make sense if token price was down but they were directing revenue to growth and metrics were up. But metrics are down competition is intensifying and their ability to capture market share and monetize it is increasingly in question. https://twitter.com/i/web/status/2010304700755718398 https://twitter.com/i/web/status/2010304700755718398"
X Link 2026-01-11T10:56Z [---] followers, [---] engagements
"This is a ludicrous analogy. LLP isn't a decade early to stat arb or some esoteric trading strategy. It's artificially propped up yield by creating your own internal latency arb. Even if this were the analogy you want to go with charge 50% performance fees like the Medallion Fund charges and direct that to LIT stakers if you want to strengthen alignment or value accrual. The medallion fund doesn't gate your deposits on how much meme stock you hold"
X Link 2026-01-15T03:06Z [----] followers, 11.8K engagements
"@vnovakovski Every counterparty vault in crypto is high Sharpe. That doesn't address any aspects of the points I'm making. How high will the Sharpe be when the return on capital includes the capital inefficiency of needing to hedge or hold a volatile altcoin"
X Link 2026-01-15T03:13Z [----] followers, [---] engagements
"Most $LIT stakers will just delta neutral hedge their $LIT on perps and perps funding will just be structurally negative like it was for $CRV in the past or $SOL due to JLP (or most yield bearing coins with 15%+ yield). If they don't hedge LLP (inclusive of the requisite $LIT) will be nowhere near [--] Sharpe anymore. Completely disingenuous analogy. This does nothing to induce buying pressure you're just killing your TAM. @koolkrypto223 If you could have kept your stake in Medallion Fund operated by Renaissance Technologies in [----] would you have @koolkrypto223 If you could have kept your stake"
X Link 2026-01-15T03:19Z [----] followers, 13.1K engagements
"@lukecannon727 @vnovakovski Yeah I didn't even want to get into the rest of this. Sharpe over [--] without an ability to leverage is pretty meaningless anyway. And Renaissance was making WAY more than recent LLP performance. It transcends arrogance into delusion to compare them"
X Link 2026-01-15T03:27Z [----] followers, [----] engagements
"Vlad really did give us all access to an outsized returns opportunity. The Medallion Fund"
X Link 2026-01-15T04:21Z [----] followers, 20.4K engagements
"@linkmaxxi I trade based on the world in front of me. The news today was bearish. A lot can change in [--] months"
X Link 2026-01-15T05:16Z [----] followers, [---] engagements
"100% said this elsewhere. Sharpe over [--] is a vanity metric without the ability to lever. Annualized returns are what matter here and they are dwarfed by Medallion. Sharpe isn't even really fair because of the inherent black swan risk of DeFi and in the event of another 10/10 (where LLP lost 5% in a day). https://twitter.com/i/web/status/2011670555519238227 https://twitter.com/i/web/status/2011670555519238227"
X Link 2026-01-15T05:23Z [----] followers, [----] engagements
"@linkmaxxi Why wouldn't I want to deposit into a high return counterparty vault"
X Link 2026-01-15T05:24Z [----] followers, [--] engagements
"Yeah this is the point I made and agree with something had to give and it being their outperformance on all in execution makes sense. At a certain point it's just over engineering a solution to self inflicted problems. If all in fees and execution get close to Hyperliquid what are we even doing here"
X Link 2026-01-15T05:32Z [----] followers, [--] engagements
"@RealAZKicks 😬 I bear posted TGE pretty relentlessly tbh. I dumped hour [--]. I was bullish the actual UI/UX of the product it's the only one I find close to Hyperliquid. Very bearish the token though"
X Link 2026-01-15T05:35Z [----] followers, [---] engagements
"The times you fade consensus are usually the trades with the most asymmetry. Everyone has been conditioned that HyperEVM tokens are a dump. @kinetiq_xyz is the first real token launch. Will bid with size sub $100m expecting $150-250m. $KNTQ launching with $USDH pair is big too"
X Link 2025-11-27T08:45Z [----] followers, [---] engagements
"Anyone want to OTC me some $KNTQ Looking to do 2m+ KNTQ size I'm currently at the depths of the Marianas Trench underwater on my initial buys but looking to take a punt here. Probably one of only a few $HYPE betas I could see outperforming over a longer time horizon. The chart looks bottomed out and ready to send to $0.20+ on a risk on move. Could see $KNTQ to do a 4-6x ($0.30-$0.50) if $HYPE even approaches $40+ again. https://twitter.com/i/web/status/2009332688667415018 https://twitter.com/i/web/status/2009332688667415018"
X Link 2026-01-08T18:33Z [----] followers, 36.1K engagements
"Feels like time to pull my money out of the Medallion Fund (being short $LIT) Don't think the $1.5bn FDV $69m raise number actually translates into much meaningful support but enough people probably think it does to make this short unattractive now. For reference under @Lighter_xyz new staking requirement for LLP (1 $LIT per $10 in LLP) if you had $100k in LLP since the announcement you would have made $150 in LLP (11% annualized Simmons would be jealous) but lost $4600 on the requisite $LIT stake. Fundamentals haven't changed (arguably gotten worse) and it's just not my style to "long for a"
X Link 2026-01-19T23:23Z [----] followers, 14.9K engagements
"I find it interesting that everyone thinks that once this precious metals rally ends on gold and silver that we'll see a rotation back into crypto. This capital is explicitly looking for a safe haven to erratic US policy. The downside of the current admin being so outwardly aligned with $BTC and crypto is that it also hurts it's credible neutrality globally. Rather than betting on a risk on impulse from precious metals to $BTC might just be cleaner to bet on the token that directly benefits from $1.5bn in 24hr volume for silver 👀 The HIP-3 bull case for $HYPE has never looked stronger and"
X Link 2026-01-27T19:20Z [----] followers, [----] engagements
"@DigitMission I'm not seeing any reason to bet that they would. Maybe much further down the line but I think HL disrupts CEX/Tradfi incumbents before Lighter disrupts HL"
X Link 2026-01-27T20:02Z [----] followers, [---] engagements
"Revising my thesis on $ENA a lot has changed in the last few days. Probably circling the drain too. With @Bybit_Official launching $BYUSDT and Binance having $FDUSD they are effectively internalizing the funding rate basis trade. Whatever privileged treatment @ethena was getting they'll obviously prioritize themselves and essentially cut Ethena out. A huge reason for the massive increase in $USDe circulating supply was looping and collateralizing on CEX. With 1:1 redeemability and 100% collateralization ratios USDe is obsolete. I thought that @hyenatrade could be a bullish catalyst but now"
X Link 2025-12-13T22:34Z [----] followers, 76.9K engagements
"@postparadis @Cbb0fe @vnovakovski Why am I catching strays 😂 I've been pretty transparent and unbiased in thinking Lighter is a good platform with a bad token"
X Link 2026-01-15T18:50Z [----] followers, [---] engagements
"@blade_ Definitely considered this and watching closely but it's too early to tell. I can see bull and bear cases for it. Derive has been fairly Hyperliquid aligned as well"
X Link 2026-02-03T17:55Z [----] followers, [---] engagements
"@CryptoZer0_ Absolutely but growth mode fees definitely conflate that equation a lot. I don't think I can get behind hip3 volume replacing crypto volumes enough in a bear winter but definitely helps"
X Link 2026-02-06T03:54Z [----] followers, [---] engagements
"@icedark778 Yeah I hedged some of my HYPE higher and longed BTC in anticipation of the current PA; the entire market bouncing but HYPE being flat/down"
X Link 2026-02-07T01:55Z [----] followers, [---] engagements
"Back on my @prjx_hl grind early KNTQ yield too high to pass up. Hoping to get a Porsche [---] worth of $PRJX too. Take notes from the $KNTQ airdrop guys"
X Link 2025-11-27T15:40Z [----] followers, [---] engagements
"@bbzzzbbzzz @skyiszen This is just incorrect though spot BTC doesn't count as margin on HL as of now. The basis trade is no more capital efficient on HL than on Lighter with CBBTC sitting in your wallet. uBTC is also not a significant portion of HL TVL"
X Link 2025-11-28T16:30Z [----] followers, [--] engagements
"As someone else pointed out I mistakenly used $FDUSD when I really meant their yield bearing stable $BFUSD which looks to be around $1.25-1.75bn. Even if Bybit $BYUSD did end up being 1/3 of that it's still meaningfully (10%) eating into USDe market share. These were just specific to CEX too. Every month new yield bearing stables are launching that are crowding out the basis trade and other forms of on chain yield. I don't see how this dismisses the reality that Ethena has very little moat decreasing market share increasing competition and a less powerful lever to pull for incentives as $ENA"
X Link 2025-12-16T15:35Z [----] followers, [---] engagements
"People are really letting comparison be the theft of joy with @Lighter_xyz vs @HyperliquidX. @Lighter_xyz built an $ETH aligned ZK verifiable transparent no fee performant (usually) perp dex and allocated 50% to the community with a 25% initial airdrop. By industry standards this is better than 99.9% of launches. Regular people earned [--] [--] [--] even some [--] figure airdrops for being glorified beta testers for a protocol that went from a near [--] to a $2.5bn entity in a year. I wouldn't really malign @Lighter_xyz much for making some MM deals with Jump etc back when they were much smaller. I'm not"
X Link 2025-12-31T17:15Z [----] followers, 29.3K engagements
"Bought $DRV at $0.04 Had poked around with the platform since the Lyra days but now with $HYPE options live it's been great to use. I think this environment for $HYPE is particularly well suited to options and you can get filled competitively in size with their RFQ platform. I'm a big believer in trying everything early and owning what I like find actually useful which has led me to a lot of gems early in the past ( $GMX $PENDLE $HYPE). @DeriveXYZ has a very close UI/UX to Deribit a wide variety of yield bearing collateral and interest on USDC collateral portfolio margin. Key to getting"
X Link 2026-02-03T16:50Z [----] followers, [----] engagements
"$ETH and $SOL don't bottom until $HYPE is top [--] mcap. The only bull catalyst for most coins is printing such obscene lows that bears and $HYPE bulls think it's worth taking a punt to rotate some profits back in. [-----] $ETH [---] $SOL Waiting for big volume blow off on ratios"
X Link 2026-02-04T17:58Z [----] followers, [----] engagements
"Finally put this trade on after noticing several instances of $HYPE massively outperforming to the downside but then not keeping up to the upside. This is to be expected when it's a consensus long. We all know it's the only serious project so we diamond hand it on the way down but then there's less bid due to the lack of discount on the way up. I currently denominate my portfolio in $HYPE rather than $BTC but it's just hard to pass up $60k $BTC. All profits find their way into $HYPE eventually though. Also as I posted before having a very good experience trading options for $HYPE on"
X Link 2026-02-07T01:42Z [----] followers, 19.6K engagements
"There's a lot of alpha to be gleaned from determining if the hate directed at the Coinbase ad is coming from crypto natives (bullish) or normies who just associate it with crypto (very bearish). One thing is certain; the association with $BTC and the current political administration was once seen as bullish and that anticipation has turned into the very somber realization that it might actually be very bearish. $BTC losing it status as a credibly neutral reserve asset/settlement layer and being seen as USA/Trump beta conflicts with the whole bull case of Russia getting kicked off SWIFT. The"
X Link 2026-02-10T00:50Z [----] followers, [----] engagements
"Well you'd assume they'd do a 20% airdrop so you'd need to 5x for FDV. But those are good stats to know. I don't think on chain dexes really have high TAMs or value though. Hyperswap is only trading at $2-3m. I think PRJX is way better but a 25-50m FDV sounds realistic if not optimistic so that'd only be 0.015-0.03 per point at a 20% airdrop. I have over [--] million points though so trust me I'm on your side of wanting higher 😂 https://twitter.com/i/web/status/2018829525388272069 https://twitter.com/i/web/status/2018829525388272069"
X Link 2026-02-03T23:30Z [----] followers, [--] engagements
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