Hyperliquid Is the Best-Run DEX, Hayes Says, but Upside May Lag
His distinction is between the quality of the exchange and the returns its valuation leaves available to investors.
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His distinction is between the quality of the exchange and the returns its valuation leaves available to investors.
His distinction is between a DEX's operating strength and the potential returns available to investors buying it at its current scale.
A cluster of mid-2024 venture darlings have collapsed to fractions of their private-mark marks — a reminder that late-stage token entry prices were pricing in growth the underlying businesses never…