MONK@defi_monk3D
bullishIn Q1 of 2026 when Dan Sundheim’s D1 Capital disclosed a position in $PURR, a ton of SM hedge funds, family offices, long onlys, etc. told their analysts to go figure out wtf Hyperliquid was.
Naturally some of these people found their way to us, as there is no Hyperliquid IR team and we were very public about our thesis.
At first, conversations with them were pretty elementary, and it felt like they were skeptical that our claims about $HYPE’s TAM, technical moat, margins, and execution quality were 100% true.
Three months later, I’d follow up with them and they’d know the story inside and out, and most eventually recognized that this was becoming the biggest story in financial services.
I’ve also been speaking to a leading FINS sell side analyst, who started to really accelerate his understanding of the protocol after the Coinbase deal, where every analyst covering COIN and CRCL started scratching their heads wondering how a relatively unknown protocol (to them) was able to carve out 80/90% of Circle’s economics.
It seemed like none of them knew what Hyperliquid was, until one day CME’s earnings calls was flooded with questions about perps and hyperliquid. To the point where it started to impact their stock price.
We’ve also had conversations from time to time, with bloomberg and wsj reporters who were trying to figure out the story. These peoole rapidly became more familiar with Hyperliquid’s narrative than most people in crypto.
The point is, Hyperliquid will become one of the largest financial narratives in the world. Until that happens we are still early. Some of these things are usually interpreted as top signals in crypto - but that flips on its head when the underlying fundamentals are actually just that good.
With regulatory clarity the earnings multiple people will be willing to pay to own the future is going to expand. With a prolonged bull market, revenue is going to make new highs.
The people buying through Bob Diamond, David Schamis and Grayscale do not care about your crypto ptsd.
Seems to me like a bazooka is coming and people here are still completely unaware.
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