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Cathie Wood Says Hyperliquid Recalls Early Solana as DEX Competition Intensifies

ARK has concentrated its crypto exposure on Bitcoin, Ethereum and Solana without disclosing any HYPE holding.

Overview

  • Cathie Wood called Hyperliquid the “new kid on the block” on the Master Investor podcast and said its trajectory reminds her of Solana’s early phase.
  • Hyperliquid’s token rebounded over the past day to roughly $46.9, according to CoinMarketCap, after pulling back from an early-September all-time high near $59 and breaking a rising-wedge pattern flagged by analysts.
  • Institutional interest continues to build, with VanEck saying it participates in Hyperliquid governance and research, and Bitwise previously filing for a spot Hyperliquid ETF.
  • Rival Aster briefly topped Hyperliquid’s daily volume on Sept. 21 ($793 million versus $462 million), while latest DefiLlama readings show Hyperliquid at about $639.8 million in 24-hour volume and Aster near $206.7 million.
  • Recent ecosystem notes include a temporary depeg in Kinetiq’s staked HYPE that has been restored, a roughly $782,000 exploit at the Hyperdrive lending protocol, and a drop of 4,600 Hypurr NFTs to early HyperEVM participants.