Trade
Trading Type
Spot
Trade crypto freely
Alpha
Points
Get promising tokens in streamlined on-chain trading
Pre-Market
Trade new tokens before they are officially listed
Margin
Magnify your profit with leverage
Convert & Block Trading
0 Fees
Trade any size with no fees and no slippage
Leveraged Tokens
Get exposure to leveraged positions simply
Futures
Futures
Hundreds of contracts settled in USDT or BTC
Options
HOT
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Participate in events to win generous rewards
Demo Trading
Use virtual funds to experience risk-free trading
Earn
Launch
Investment
Simple Earn
VIP
Earn interests with idle tokens
Auto-Invest
Auto-invest on a regular basis
Dual Investment
Buy low and sell high to take profits from price fluctuations
Quant Fund
VIP
Top asset management team helps you profit without hassle
Crypto Loan
0 Fees
Pledge one crypto to borrow another
Lending Center
One-Stop Lending Hub
VIP Wealth Hub
New
Customized wealth management empowers your assets growth
Private Wealth Management
Customized asset management to grow your digital assets
Staking
Stake cryptos to earn in PoS products
BTC Staking
HOT
Stake BTC and earn 10% APR
GUSD Minting
New
Use USDT/USDC to mint GUSD for treasury-level yields
Soft Staking
Earn rewards with flexible staking
More
- Trending TopicsView More
38.8K Popularity
93.4K Popularity
214.1K Popularity
166.8K Popularity
16.7K Popularity
- Pin
Du Jun: The HYPE repurchase model is hard to support a $45 billion valuation, with risks far outweighing the benefits.
Odaily News ABCDE co-founder Du Jun published an article on the X platform stating that HYPE's buyback model is insufficient to support a Fully Diluted Valuation (FDV) of $45 billion, and the risks do not equate to the rewards. He pointed out that even if Hyperliquid's market capitalization surpasses BNB, the theoretical profit potential is only about 3 times, while the competition in the Perptual Futures DEX sector is fierce, with strong rivals lurking. Furthermore, Hyperliquid has yet to experience a "large compliance and security incident" test, and should problems arise, the downside risks could be quite significant.