Crypto Scenario Insights
What happened
Hyperliquid's stock-linked HIP-3 markets have surpassed $18.8 billion in monthly trading volume, driven by speculation surrounding a potential SpaceX IPO.
What we think
The most likely scenario is a stabilization of HIP-3 trading volumes at a lower, more sustainable baseline (55% probability) as speculative incentives cool down.
Read the analysis
Hyperliquid's $18B Synthetic Equity Surge — Sustainable DeFi Innovation or Speculative Bubble?
We explain what happened and what could follow. We do not forecast prices.