炒作令牌：DEFI的生長催化劑準備爆炸了嗎？

Hype令牌有望主導Defi的下一個前沿。在穩定劑，機構採用和通縮模型的推動下，炒作可能是下一個大事嗎？

HYPE Token: DeFi's Growth Catalyst Ready to Explode?

炒作令牌：DEFI的生長催化劑準備爆炸了嗎？

The buzz around HYPE Token is deafening, and for good reason. With DeFi evolving beyond its experimental phase, HYPE is emerging as a major player, driven by stablecoins and deflationary economics.

炒作令牌周圍的嗡嗡聲震耳欲聾，這是有充分理由的。隨著Defi的發展超出了實驗階段的發展，炒作正在成為主要參與者，由穩定的經濟學和放流經濟學驅動。

The Stablecoin-Driven DeFi Revolution

穩定驅動的Defi革命

Stablecoins are the engine of DeFi, and Hyperliquid's HYPE token is strategically positioned to take advantage. By leveraging stablecoin liquidity, HYPE offers the speed of centralized exchanges with the transparency of blockchain. In August 2025 alone, Hyperliquid processed $357 billion in derivatives volume, generating $105 million in fees, which were funneled into automated buybacks, reducing the circulating supply.

穩定劑是Defi的發動機，超流動性的炒作令牌在戰略上可以利用。通過利用Stablecoin流動性，HYPE提供了集中式交流的速度，具有區塊鏈的透明度。僅在2025年8月，Hypliquid處理了3570億美元的衍生品數量，產生了1.05億美元的費用，這些費用被匯入自動回購中，從而減少了循環供應。

Arthur Hayes' Bold Prediction: 126x Upside?

亞瑟·海斯（Arthur Hayes）的大膽預測：126x上升空間？

Arthur Hayes' 126x projection might seem audacious, but the underlying fundamentals are solid. If Hyperliquid captures a significant share of the stablecoin-driven derivatives market, the math checks out. Stablecoin adoption continues to surge, and Hyperliquid's architecture remains competitive.

亞瑟·海斯（Arthur Hayes）的126倍投影似乎大膽，但基本的基本面是紮實的。如果超液體捕獲了斯塔黴素驅動的衍生品市場的很大一部分，則該數學會簽出。 Stablecoin的採用率繼續激增，超級流動性的建築仍然具有競爭力。

Weighing the Risks: Token Unlocks and Regulatory Hurdles

權衡風險：令牌解鎖和監管障礙

Of course, no investment is without risk. The November 2025 token unlock and regulatory uncertainty pose potential challenges. Hyperliquid's validator system and high-leverage features also introduce technical risks. However, the macroeconomic tailwinds, such as rising stablecoin issuance and DeFi's rebounding TVL, mitigate these concerns.

當然，沒有任何投資沒有風險。 2025年11月，令牌解鎖和監管不確定性構成了潛在的挑戰。 Hyperliquid的驗證器系統和高槓桿功能也引入了技術風險。但是，宏觀經濟的尾風，例如發行穩定的發行和Defi的反彈TVL，減輕了這些擔憂。

Altcoins to Buy for Next Bull Run

下一次公牛跑的山寨幣

Beyond HYPE, several other altcoins show promise for the next bull run. BlockDAG, TRX, XLM, and KAS each offer unique strengths and growth catalysts. Investors should diversify their portfolios to maximize potential gains.

除了炒作之外，其他幾個山寨幣對下一次公牛跑表示了希望。 BlockDag，TRX，XLM和KAS各自提供獨特的優勢和生長催化劑。投資者應多樣化其投資組合，以最大程度地提高潛在收益。

HYPE: A High-Conviction Play for the Future of DeFi

炒作：為Defi的未來有一個高定罪的戲劇

HYPE isn't just another token; it's a play on the convergence of stablecoins, institutional DeFi, and deflationary economics. It requires patience and a tolerance for volatility, but the potential rewards are transformative. If Hyperliquid executes its vision, HYPE could become a dominant force in decentralized derivatives.

炒作不僅是另一個令牌；這是關於穩定幣，機構偏見和放流經濟學的融合的戲劇。它需要耐心和對波動性的容忍度，但潛在的獎勵是變革性的。如果超流動執行其視力，炒作可能會成為分散衍生物的主要力量。

So, is HYPE the next big thing? Only time will tell, but with its strong fundamentals and strategic positioning, it's definitely one to watch. Get ready to ride the wave – it's gonna be a wild one!

那麼，炒作是下一個大事嗎？只有時間才能說明，但是憑藉其強大的基本原理和戰略定位，絕對是值得關注的。準備騎浪潮 - 這將是一個瘋狂的人！