The native token of the DeFi ecosystem Hyperliquid (HYPE) demonstrated a rapid surge, recording a daily gain of 20%. In Thursday trading, the asset's price settled at $95.49, stopping one step away from its all-time high.
The large-scale rally was unexpectedly triggered by Elon Musk, namely his reaction to a tweet by Druckenmiller, which, no less unexpectedly, became the Wall Street legend's first-ever post on the former Twitter, now X, which Musk owns. The platform's owner quoted the post with the laconic word "Interesting."
Why a Wall Street legend needs decentralized finance
In his debut post, Stanley Druckenmiller, who managed billion-dollar funds in the traditional market, announced that he had become an investor in the fintech startup trade[xyz]. The reason for the deal was the project's agreement with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE).
The partners intend to launch regulated round-the-clock (24/7) trading of perpetual futures contracts (perpetuals) in the U.S. Druckenmiller emphasized that, as an active market participant, he plans to personally use this product in his trading processes to optimize investment decisions.
The news instantly brought HYPE's daily trading volume to $796 million, lifting Hyperliquid's capitalization above $24.2 billion (9th place in the global ranking). The project fundamentally stands out with its Zero-VC model (without the participation of classic venture funds), where more than 76% of the supply is distributed to the community.
The synergy of entering the U.S. market through ICE, Druckenmiller's authority and Musk's attention allowed the asset to test peak price values with an FDV of $90.7 billion.
What Elon Musk's artificial intelligence has to do with it
The founder of trade[xyz], under the pseudonym shadow, publicly responded to Musk's comment, proposing that the head of X combine onchain derivatives infrastructure with the algorithms of his AI company xAI. The developer stated that the emergence of strong AI (AGI) in capital markets is inevitable, and live trading will become its main benchmark.
According to shadow, a transparent distributed ledger in the style of Hyperliquid is the optimal mathematically secure environment for a superintelligent search for the fair price.
