60 billion US dollars pouring into 'New Era FTX', Hyperliquid Bull Market comprehensive gold mining guide

Author: Ah Ray's New World

With the consecutive launch of high FDV projects such as Magic Eden and Movement on international first-tier exchanges, the market's listing rhythm has shown a resonance similar to that of April this year. Usually at this time, the market will generate redundant supply, and the demand for shanzhai coins will outstrip the supply, resulting in the phenomenon of Bitcoin and Ethereum reaching new highs while the shanzhai coins in CEX are languishing. These shanzhai coins that have already been listed on CEX are expected to welcome a 'bear market' with a market value of 100,000 US dollars.

The picture comes from the Internet

In the face of the awkward situation between BTC and altcoins, the Hyperliquid ecosystem stands out. Even the newly launched memecoin HYENA has surged to the point of causing Hypurr Fun Bot to crash.

Hyper ecology is booming, and top-tier capital is entering the market at an accelerated pace

Today, HYPE broke through $28. Since opening at $6 on November 29th, HYPE has gone through almost no callbacks in the main uptrend, smoothly surpassing Layer1 such as Fantom and Aptos, reaching a circulating market value of about $9 billion and an FDV of $27 billion, directly breaking into the top 30 of the cryptocurrency market value.

Image source: CoinGecko

The epic airdrop of HYPE is the turning point for the Hyperliquid ecosystem. Before the TGE, although Hyperliquid also had a strong wealth effect, there were few discussions about the Hyper ecosystem in the Chinese community, and most people still simply classified Hyperliquid as similar to dYdX on PerpDEX; but after the airdrop was completed, the market was attracted by the rise of HYPE 'stand-alone currency', and Hyperliquid had already transformed from PerpDEX to a high-performance trading public chain in the public view. This is also the reason why the valuation ceiling of Hyperliquid continues to rise (from DEX valuation logic to public chain valuation logic).

In addition, blue-chip assets on Hyperliquid and newly listed coins are also favored by the market's top funds.

Blue-chip assets hit new highs

Recently, although Hyperliquid as a whole has ushered in a spring of liquidity, some leading assets in the Hyper ecosystem have seen gains that exceed the average, including PURR, HFUN, and JEFF, in addition to HYPE.

PURR

PURR is a memecoin airdropped to early users by Hyperliquid, and now it has become the strongest meme consensus of PURR, without a doubt. PURR is also seen as the official mascot of Hyperliquid. Since December 11th, the increase has exceeded 200%, and the market value has reached 3.7 billion.

PURR's K-line chart

HFUN

Hypurr Fun is the fastest Telegram trading robot on Hyperliquid, and HFUN is the platform token of Hypurr Fun. Discovered in value after December 5th, it has since reached new highs, with a 10-day increase of up to 1500%.

HFUN's K-line chart

At the same time, according to blogger Arthur's on-chain tracking, GCR bought $HYPE at a price of $10, bought $PURR at a price of 0.30, bought $JEFF at a price of $19, and bought $HFUN at a price of $39.

Stunning Upcoin Effect

Unlike the opaque listing rules of CEX, Hyperliquid adopts the Dutch auction rules. The starting price of the Dutch auction is higher than the market expectation, and then it continuously reduces until a deal is made at the first acceptance of that price. The project team competes for the listing rights on Hyperliquid through the auction mechanism. This Dutch auction listing mechanism has many benefits.

One is that the auction price of Ticker will continue to increase. For example, after SOLV was traded for $128,000, the next auction will start at a price higher than $128,000. Because if the starting price is lower than the previous price, it is likely to be immediately sold, so it will motivate the starting price to continue to rise.

Hyperliquid Auction History

Indeed, following the 128,000 USD transaction of SOLV, there was a subsequent auction price of 180,000 USD for FARM, as well as the recent sky-high transaction of MON for 480,000 USD. The auction prices have followed the same trend as the HYPE market value, quadrupling in just 10 days, reaching new heights.

The auction mechanism will screen out higher quality projects. To recover the listing cost, the listing effect will be significantly enhanced for the project party.

The latest tokens auctioned, such as SOVRN and MON, are worth noting that these tokens were not initially launched on Hyperliquid, but have pools on other chains themselves. After the auction was completed at 10:00 on December 14th, SOVRN rose by over 100%. Similarly, after the listing auction was completed at 14:00 on December 15th, MON also saw a 50% increase.

Both SOVRN and MON have shown significant gains after the auction.

The purchasing power of the market is all bustling to join in, so how should we get to the table?

To stay at the table, what gameplay should you understand?

Dealing: Preparations before entering the field

First of all, before the troops move, we must ensure the food and grass are ready. If you are a newcomer who is new to this, you need to register an account and familiarize yourself with the trading mechanism of Hyperliquid.

Account registration

After entering the Hyperliquid official website, click on the 'connect' link for the wallet. Then click on 'Portfolio' and 'Deposit' to switch the wallet to the Arbitrum chain, and deposit USDT/USDC into Hyperliquid. Please remember to keep a small amount of ETH for GAS fees.

Trading

You can start trading after registering and depositing. Hyperliquid's main trading assets are divided into 'Perp' (contracts) and 'Spot' (spot), among which spot can be further divided into 'Strict' and 'All'. Strict spot mainly consists of blue-chip assets in the Hyperliquid ecosystem, such as PURR, JEFF, HFUN, CATBAL, etc. It is worth noting that GCR has also purchased these core assets.

Purchase of Hyper ecological blue chip assets with GCR address

If you are Degen enough, you can also participate in Hyperliquid's HLP. HLP allows all users to participate by depositing USDC to provide liquidity for all assets listed on the exchange. Participants can earn a portion of trading fee revenue and profit from market-making strategies on the HLP market.

View Token

In addition to the skyrocketing blue-chip assets, one of the wealth creation myths of Hyperliquid comes from its listing effect. Readers can learn about the detailed auction process on Hyperliquid's official auction website and follow the latest listing auction dynamics through the Hyperliquid blockchain explorer introduced later.

Bidding: How to Participate Efficiently

Secondly, to do a good job, one must first sharpen one's tools. Just as playing Sol meme cannot be separated from GMGN, we also need a series of tools to unlock various gameplay in the Hyperliquid ecosystem.

Research and Analysis

Efficient investment research and analysis are essential before participating in trading on the Hyperliquid ecosystem.

(1) ASXN: ASXN is a data dashboard in the Hyperliquid ecosystem, similar to Dune in Hyperliquid. You can use ASXN to query relevant data, such as recent auctioned token tickers and prices, trading volume share, and other information. Click on the website to see the collection of Hyperliquid data dashboards in the bottom left corner.

At the same time, ASXN's official Twitter account @asxn_r will continuously update some key data related to the Hyperliquid ecosystem. If you don't want to directly use ASXN to dig for information, you can also follow their official account. Personally, I think ASXN's UI is very well done, and it's also very smooth and comfortable to use.

Image source: ASXN

(2) Velo: Velo is also a data visualization dashboard website, but it can be used to query other data, and it is not a vertical Hyperliquid-related data website. I often use it to compare the differences between Hyperliquid and CEX data.

Image source: Velo

(3) Hyperdash: Hyperdash is a trading analysis dashboard. Users can track trading addresses with higher win rates or returns in Hyperliquid through Hyperdash, which refers to smart money on Hyperliquid.

Image source: Hyperdash

(4) HypurrScan: HypurrScan is a Layer1 block browser on Hyperliquid, where users can query all first-hand data related to Hyperliquid.

Image source: Hypurrscan

Trading Bot

After completing the investment research analysis, we can start charging!

(1) Hypurr Fun Bot: Hypurr Fun Bot is a bot specifically designed for trading within the Hyperliquid ecosystem. The ecosystem is divided into internal and external markets. Currently, only tokens available for direct trading on Hyperliquid are considered external, while tokens not directly available for trading on Hyperliquid can be traded on the internal market. Users only need to deposit USDC from their Hyper account to the bot to use it, and the method of use is similar to that of the Pump series of bots.

But it is important to note that the auction price of the Hyperliquid external disk is ridiculously high now, with the recent auction reaching as high as 480,000 US dollars. The difficulty of listing the token on the internal disk will increase sharply in the future, so risks need to be considered when rushing into the internal disk.

Image source: Hypurr Fun Bot

(2) Hypercopy: Hypercopy is a copy trading robot in Hyperliquid, users can input the address of Top Traders to select specific smart money for copy trading.

Image source: Hypercopy

(3) PVP BOT: PVP BOT is a Telegram trading bot in the Hyper ecosystem. After entering the Telegram group, it will synchronize the members' positions in real time and allow PvP battles within the group.

Information Dynamics

Hyperliquid News: If you want to keep up with the latest Hyperliquid information, such as knowing the latest auction prices, timely understanding of listing information, and quickly tracking ecological trends, following @HyperliquidNews is your best choice. This Twitter channel will promptly push any information related to the Hyperliquid ecosystem, which can be understood as Hyper's Blockbeats!

Follow the card: Follow-up gameplay of the Hyper ecosystem

Finally, based on the present and looking to the future. The spot on Hyperliquid has skyrocketed, with the core set of Hyper series targets such as HYPE reaching a market value of 8 billion, PURR reaching nearly 400 million, and HFUN also reaching 2.5 billion. If you feel that even if you look at the current entry and exit profit and loss space according to Layer1's valuation, it will be relatively limited, we can skip the fish head and eat the fish body.

The opportunity of Hyperliquid's fish body is also in the launch of 'HyperEVM' afterwards. The technical architecture of Hyperliquid is very unique, with a stack consisting of Hyperliquid L1 and HyperEVM (EVM) chains. These two chains exist as a unified state under the same consensus mechanism (HyperBFT), but operate in independent execution environments. Hyperliquid L1 is specifically designed for running high-performance trading permissioned chains such as perpetual contracts and spot order books. All high TPS native components can be implemented through L1. HyperEVM is an EVM-compatible chain that can support common tools of Ethereum and enable developers to deploy smart contracts. Smart contracts deployed on HyperEVM can directly access perpetual contracts and spot markets on L1, and the specific launch time has not yet been determined.

Hyperliquid technical architecture diagram, the picture is from the Internet

After the launch of HyperEVM, Hyperliquid will no longer be the logic of PerpDEX, but rather an "application + trading platform". At that time, various EVM applications and ecosystems will flourish, and new financial games based on perp and HLP will inevitably emerge. Here are some of the ecosystem projects summarized by the author:

HyperSwap: Hyperliquid's native DEX on the testnet of Hyperliquid EVM, is now live.

Kinetiq: An LSD project that provides liquidity locking support for Hyperliquid.

HyperLendX: The project is the first lending platform on Hyperliquid, which is now live on the testnet.

Keiko Finance: a permissionless lending protocol with dynamic interest rates and liquidation ratio.

HyBridge: HyBridge is a cross-chain application of HyperLiquid that can quickly and seamlessly bridge EVM and SOL networks. (Note that this project does not have 'per' in its name)

Hyperliquid Names: Hyperliquid ecosystem domain name project.

Felix Protocol: Hyperliquid stablecoin project, where HYPE can be used as collateral to borrow feUSD against mainstream assets.

Vegas GamebleFi: The first GamebleFi project that combines practicality and playability using a proof-of-fairness system.

Due to the limited length of the article, readers can refer to the more detailed Hyperliquid tools and ecological panorama below for a more in-depth study after organizing.

Hyperliquid ecological panorama, picture from the Internet

How to do risk control in the midst of FOMO?

Although the development of the Hyperliquid ecosystem is in full swing, and it is striving to achieve 'overtaking SUI and surpassing SOL' at full speed, there are also some potential risks in Hyperliquid. For example, there is a centralization risk, also known as the 'data center chain'. According to ASXN data, there are currently 76 validators in Hyperliquid, but only 23 of them are active, and the ordering is also relatively centralized. However, this problem will gradually improve in the future. At the same time, HYPE has low circulation and high FDV. Currently, the circulating market value of HYPE has reached about 9 billion US dollars, while the FDV has reached about 27 billion US dollars.

However, instead of rushing to pick up the currency that is being launched one after another, it is better to give yourself a chance to embrace the new ecology.