Daniel Cheung, co-founder of Syncracy Capital, says Hyperliquid’s native token 
HYPE is beginning to resemble Solana’s setup before its last major run, 
arguing that the protocol has become the clearest center of real trading 
activity in crypto. In a series of posts on X over the past month, Cheung laid 
out an increasingly aggressive thesis: Hyperliquid is not just outperforming 
within crypto, but could emerge as a broader financial trading platform with 
appeal beyond the sector. Cheung’s most direct comparison came this week. 
“HYPE at $35 feels similar to SOL at $20 before its last cycle rally,” he 
wrote, framing Hyperliquid as an early-stage winner before a broader market 
expansion. He tied that view to what he sees as the protocol’s current market 
position: “Hyperliquid is currently the main chain where trading activity is 
happening and the only chain bringing new users into crypto right now given 
its offering around 24/7 markets.” Related Reading: Arthur Hayes Predicts 
Hyperliquid’s HYPE Is Headed To $150 By August 2026 What Cheung appears to be 
invoking is Solana’s move from a battered late-2022 asset into one of the 
cycle’s biggest winners. After trading around $8 at the end of 2022 and still 
hovering near $23 in September 2023, SOL eventually climbed to a fresh all- 
time high of $295.83 in mid-January 2025. From a $20 reference point, that 
would imply a rally of roughly 1,379%. That argument is notable because it 
does not rest primarily on meme-driven activity, which has often powered 
attention cycles elsewhere. Cheung said Hyperliquid is “gaining significantly 
more media attention and respect” because its use cases are “centered around 
much more than dogshit memes.” In his telling, that gives the project a 
stronger foundation if speculative conditions improve again. Across several 
posts, Cheung repeatedly described Hyperliquid less as a single-app crypto 
trade and more as a category-defining trading venue. On Feb. 28, he wrote, 
“Becoming more clear by the day that Hyperliquid is the financial trading 
platform of the future and that generational wealth will be made longing this 
coin. Think this has a chance to flip Robinhood, Interactive Brokers etc… 
Hyperliquid is out innovating peers.” Related Reading: Apollo Crypto Explains 
Why Hyperliquid Is Its Top Altcoin Holding That is a large claim, and Cheung 
presented it as a product and market-structure thesis rather than a short-term 
price call alone. His view appears to hinge on two linked assumptions: first, 
that perpetual futures become a much larger category than the market currently 
prices in, and second, that Hyperliquid captures a disproportionate share of 
that expansion because it is already where users are trading. He made that 
point more explicitly on Feb. 12, when he said investors were missing “two 
things” in the current market. The first was that “HYPE is the most exciting 
startup not in AI and will eventually flip COIN and HOOD.” The second was that 
“the perps category will be bigger than anyone expects,” adding that another 
asset, LIT, looked deeply undervalued relative to HYPE on a fee basis. 
Cheung’s posts also make clear that timing matters. On March 9, he said “HYPE 
to $120+” would be “pretty easy once the crypto bull market comes back,” 
before adding: “We are close.” That suggests his target is not based on 
Hyperliquid operating in isolation, but on the idea that a renewed bull phase 
would amplify an already strong relative position. Notably, BitMEX founder 
Arthur Hayes recently argued that HYPE could reach $150 until August this 
year. At press time, HYPE traded at $36.16. Featured image created with 
DALL.E, chart from TradingView.com

Hyperliquid Looks Like Solana At $20 Last Cycle, Daniel Cheung Says

Crypto ATMs or kiosks are the “lowest-friction extraction channel available to 
scammers,” said cybersecurity firm CertiK.

Crypto ATM losses surge 33% in 2025 as AI superpowers scams: CertiK

XRP price failed to stay above $1.3950 and started a downside correction. The 
price is now holding the $1.3680 support but is at risk of more losses. XRP 
price started a downside correction and declined below $1.4050. The price is 
now trading near $1.3720 and the 100-hourly Simple Moving Average. There is a 
new bearish trend line forming with resistance at $1.3910 on the hourly chart 
of the XRP/USD pair (data source from Kraken). The pair could start another 
increase if it stays above $1.3680. XRP Price Corrects Gains XRP price failed 
to stay above $1.4120 and started a downside correction, like Bitcoin and 
Ethereum. The price dipped below the $1.4050 and $1.4020 levels to enter a 
negative zone. The price even dipped below the 50% Fib retracement level of 
the upward move from the $1.3217 swing low to the $1.4430 high. Besides, there 
is a new bearish trend line forming with resistance at $1.3910 on the hourly 
chart of the XRP/USD pair. The price is now trading near $1.3720 and the 
100-hourly Simple Moving Average. If there is a fresh upward move, the price 
might face resistance near the $1.3840 level. The first major resistance is 
near the $1.3920 level, above which the price could rise and test $1.40. A 
clear move above the $1.40 resistance might send the price toward the $1.4140 
resistance. Any more gains might send the price toward the $1.4250 resistance. 
The next major hurdle for the bulls might be near $1.450. More Downside? If 
XRP fails to clear the $1.40 resistance zone, it could start a fresh decline. 
Initial support on the downside is near the $1.370 level. The next major 
support is near the $1.3680 level and the 61.8% Fib retracement level of the 
upward move from the $1.3217 swing low to the $1.4430 high. If there is a 
downside break and a close below the $1.3680 level, the price might continue 
to decline toward $1.340. The next major support sits near the $1.3250 zone, 
below which the price could continue lower toward $1.3120. Any more losses 
might call for a test of $1.3050. Technical Indicators Hourly MACD – The MACD 
for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative 
Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support 
Levels – $1.3680 and $1.3250. Major Resistance Levels – $1.3910 and $1.4000.

XRP Price Reversal Gathers Speed, Downside Pressure Intensifies

Metaplanet said the new firm would support Japan-based Bitcoin projects in the 
payments and lending space in addition to stablecoins and tokenization-focused 
startups.

Metaplanet forms new venture firm as it expands Bitcoin playbook

Mastercard moves to link traditional finance and crypto infrastructure through 
a sweeping global partner program, assembling dozens of industry players to 
accelerate blockchain-powered payments, remittances, and settlements across 
mainstream commerce networks. New Mastercard Crypto Alliance With 85 Firms 
Signals Powerful Blockchain Finance Shift Digital asset integration is 
expanding within traditional finance as Mastercard introduced a […]

Cryptocurrency price in USD