Hyperliquid is expanding beyond its initial focus as a decentralized perpetual exchange (perp DEX) by developing its Layer 1 (L1) blockchain and planning EVM integration, making comparisons to other perp DEXs insufficient. The ecosystem’s composable order book is poised to become a new DeFi primitive. Comparisons are made to a fully onchain equivalent of Binance and BNB. This evolution creates significant growth opportunities, particularly in the underdeveloped spot market, where early investment could yield substantial returns. The current OTC value of Hyperliquid points, at around $5, suggests the market may undervalue its potential, with our estimates placing points between $10 and $30 in value.
Advanced AI Digests with all of the features in Lite plus Key Developments for major protocol changes
