大肆宣傳牛市案：穩定劑助長了Defi的未來？

炒作是否是解鎖穩定驅動的Defi Revolution的關鍵？分析超流動性的Rise和Arthur Hayes的大膽預測。

HYPE Token Bull Case: Stablecoins Fueling DeFi's Future?

大肆宣傳牛市案：穩定劑助長了Defi的未來？

The DeFi landscape is buzzing, and HYPE token is at the center of it all. Riding the stablecoin wave, can Hyperliquid deliver on the hype? Arthur Hayes thinks so, with a bold 126x price target. Let's dive in.

Defi景觀嗡嗡作響，炒作令牌是所有的中心。騎穩定波，超流動可以在炒作上傳遞嗎？亞瑟·海斯（Arthur Hayes）這樣認為，其目標是126倍。讓我們潛水。

Stablecoins: The New Oil of DeFi

Stablecoins：Defi的新油

Stablecoins have exploded, becoming the lifeblood of DeFi with over $272 billion in liquidity. Hyperliquid is positioning itself as a major player, capturing a big chunk of the decentralized perpetual futures market. They're processing serious volume – rivaling even centralized exchanges on key pairs.

斯塔布萊辛（Stablecoins）爆炸了，成為多達2720億美元的流動性的Defi的命脈。 Hyperliquid將自己定位為主要參與者，捕捉了分散的永久期貨市場的很大一部分。他們正在處理嚴重的數量 - 即使是在關鍵對上的集中交流也可以抗衡。

Hyperliquid's Secret Sauce: Zero-Gas Fees and Stablecoin Integration

Hyperliquid的秘密醬：零氣費和Stablecoin整合

What's driving Hyperliquid's success? Their zero-gas fee model, subsidized by a clever deflationary tokenomics system. They burn a massive chunk of trading fees, creating scarcity and incentivizing growth. Plus, their integration with stablecoins, especially USDC, is a game-changer. Half of their trading activity is now stablecoin-driven!

是什麼推動了超流動的成功？他們的零氣體費用模型，通過巧妙的通縮令牌系統進行補貼。他們燃燒了大量的交易費用，造成了稀缺性和激勵增長。另外，它們與Stablecoins（尤其是USDC）的集成是改變遊戲規則的。他們的一半交易活動現在是由穩定的驅動的！

Tech That Matters: HyperCore and HyperEVM

重要的技術：HyperCore和HypereVM

Hyperliquid isn't just hype; they've got the tech to back it up. Their dual-layer blockchain, featuring HyperCore (super-fast order book) and HyperEVM (smart contract layer), unlocks new possibilities. Think tokenized perpetual positions and AI-driven trading strategies. The recent CoreWriter launch is blurring the lines between trading and DeFi even further.

超流動不僅僅是炒作；他們有技術來支持它。他們的雙層區塊鏈，具有HyperCore（超級快速訂單）和HypereVM（智能合約層），可以解鎖新的可能性。思考令牌的永久職位和AI驅動的交易策略。最近的Corewriter發射是模糊了交易和Defi之間的界限。

The 126x Bull Case: Hayes' Bold Prediction

126x公牛案：海耶斯的大膽預測

Arthur Hayes is betting big on HYPE, predicting it could hit $5,000 by 2028. His reasoning? If the stablecoin market hits $10 trillion (as he expects), and Hyperliquid captures just 1% of the trading fees, HYPE's market cap could skyrocket. Their recent $1.2 billion airdrop shows they can scale user adoption, and their revenue per employee is off the charts.

亞瑟·海斯（Arthur Hayes）押注炒作，預計到2028年可能會達到5,000美元。他的理由？如果Stablecoin市場上漲了100萬億美元（正如他所期望的那樣），而超流利市場僅捕獲了交易費的1％，那麼HYPE的市值可能會激增。他們最近的12億美元的Airdrop表明他們可以擴展用戶的採用，並且他們的每個員工的收入不在圖表上。

Risks and Realities

風險和現實

Of course, no investment is without risk. The JELLY Crisis highlighted vulnerabilities in their liquidation mechanisms. But Hyperliquid responded quickly, demonstrating a commitment to transparency and beefing up risk management. Regulatory scrutiny is another concern, but their EVM compatibility and focus on stablecoin-driven derivatives could help them navigate the landscape.

當然，沒有任何投資沒有風險。果凍危機突出了清算機制中的脆弱性。但是超流動迅速做出了反應，表明對透明度和加強風險管理的承諾。監管審查是另一個問題，但是他們的EVM兼容性和專注於Stablecoin驅動的衍生物可以幫助他們瀏覽景觀。

My Take: A Compelling Bet on DeFi's Future

我的看法：令人信服的賭注對Defi的未來

I think HYPE is a compelling play. Their deflationary model, stablecoin integration, and innovative architecture create a strong moat. If you believe in the future of stablecoins and decentralized trading, HYPE is worth a serious look. The team's quick response to the JELLY Crisis shows they can respond to unexpected challenges and adapt quickly. Consider this, as of June 2025, Hyperliquid already held a 74% dominance in the decentralized perpetual futures market, per the second article I reviewed.

我認為炒作是一部令人信服的戲劇。他們的溫和模型，Stablecoin集成和創新的體系結構創造了強烈的護城河。如果您相信Stablecoins和分散交易的未來，那麼炒作值得一提。該團隊對果凍危機的快速回應表明，他們可以應對意外的挑戰並迅速適應。根據我審查的第二篇文章，請考慮到這一點，截至2025年6月，超級流動性已經在分散的永久期貨市場中佔據了74％的統治地位。

Actionable Advice

可行的建議

• Position for Growth: Consider allocating a portion of your DeFi portfolio to HYPE.
• Monitor Stablecoin Trends: Keep an eye on USDC and USDT adoption on DEXs.
• Diversify Exposure: Explore pairing HYPE with staking protocols.

Final Thoughts

最後的想法

Hyperliquid isn't just a token; it's a potential blueprint for the future of DeFi. As stablecoins become more integral to global finance, HYPE's role as a key infrastructure provider could explode. So, are you ready to ride the HYPE wave? It could be a wild, profitable ride!

超流動不僅僅是一個令牌；對於Defi的未來，這是一個潛在的藍圖。隨著Stablecoins成為全球金融不可或缺的一部分，HYPE作為關鍵基礎設施提供商的作用可能會爆炸。那麼，您準備好騎炒作波嗎？這可能是一次狂野，有利可圖的旅程！