Hyperliquid’s recent partnership with Phantom wallet has marked a significant milestone for the platform. This collaboration will power Hyperliquid’s perpetual markets for over 10 million users, setting the stage for potential exponential growth. Analysts speculate that Hyperliquid’s native token, HYPE, could surge by over 3x to reach $120 if the platform successfully realizes its ‘everything exchange’ vision.
The endorsement from prominent figures in the investment space, such as Ryan Watkins, the Founder of crypto VC Syncracy Capital, further solidifies Hyperliquid’s position in the market. Watkins emphasized the importance of builder codes in enabling Hyperliquid to outcompete centralized exchanges (CEXs) and attract a wider user base. These builder codes serve as referral tools that allow third parties to direct users or apps to the Hyperliquid exchange, earning a fee in the process.
One of the key features of Hyperliquid is its ability to seamlessly integrate with other protocols, apps, and wallets, such as MetaMask, by offering perpetual markets. This integration provides users with access to the Hyperliquid system without requiring them to navigate the complexities of the underlying infrastructure. Additionally, the introduction of HIP-3 (Hyperliquid Improvement Proposal) will enable other players to establish their own perpetual markets on top of the Hyperliquid layer, further expanding the platform’s reach and revenue potential.
With nearly $400 million in cumulative revenue and 40,000 daily users, Hyperliquid has already established a strong foundation for growth. The partnership with Phantom’s 10 million users is expected to drive additional revenue and user engagement, positioning Hyperliquid as a leading player in the decentralized exchange space. Industry experts like Simon Dedic of Moonrock Capital believe that Hyperliquid’s revenue potential will skyrocket as the platform attracts tens of millions of daily active users.
The growth projections for Hyperliquid are optimistic, with estimates suggesting that the platform could reach a market cap of $100 billion as perpetual markets gain popularity. A1 Research has forecasted a price target range of $69 to $120 for HYPE within a year, indicating a potential 2x to 3.5x growth from current levels. In conclusion, Hyperliquid’s ambitious vision of becoming an “everything exchange” holds immense growth potential, paving the way for a transformative journey in the decentralized finance landscape.