Contributor
Most people track PURR (previously called Hyperliquid Strategies or HSI) for one reason: it’s one of the HYPE DATs (actually the biggest one) accumulating HYPE. So the mental model is simple: “PURR still has many millions to hold or pump the price.” That model is useful. It’s also incomplete.
Over the last two months, HYPE fell from the $45–50 range to ~$20. That move wasn’t random, and it wasn’t just “market conditions”. It was the result of three very specific sources of sell pressure, all of which were visible on-chain and are now either resolved or close to exhaustion. This article breaks down what actually happened and why the setup going forward is structurally different from what it was two months ago.
Perps have dominated crypto since 2016, yet TradFi adoption remains limited. The gap isn’t the product but likely education and language. This article explains CFDs, options, and perps in TradFi terms, and why perps might be the cleaner tool for retail traders.
