X @Andy

Market Position - Hyperliquid is identified as the perps DEX category leader, suggesting a dominant position in its market segment [1] - The analysis suggests that owning the category leader is generally a sound investment strategy [1] Financial Performance - Hyperliquid is consistently buying back $3-5 million in tokens per day [1] - Revenue demonstrates a consistent, linear growth trajectory [1] Competitive Landscape - CZ's attempt to compete with Hyperliquid using Aster has not significantly impacted Hyperliquid's performance [1] - The emergence of new, attention-grabbing BSC coins is seen as a potential distraction, but not a fundamental threat [1] Investment Strategy - The analysis suggests that focusing on established leaders like Hyperliquid is preferable to investing in beta plays, which often underperform [1]