navigating hyperliquid spot trading
hyperliquid is in fact the place to be
TL;DR:
Take some profits once PURR starts getting airdrops
If you’ve been reading my tweets, I have been almost exclusively trading on Hyperliquid since February. One of the key things about Hyperliquid is that the Perp/Spot DEX is already developed, and there are thousands of active traders.
People want to take advantage of this attention: there are going to be more tokens deploying on Hyperliquid soon.
Why? It solves so many problems with token deployment. Today, the Morpheus team couldn’t even add Uniswap V3 liquidity properly, resulting in a botched launch and people losing money.
Benefits of Deploying on Hyperliquid
Airdrop built into deployment
Unruggable liquidity
Automatic CLOB market making: there is ALWAYS liquidity
With Hyperliquidity, users don’t need to worry about being rugged, and protocols don’t need to worry about managing liquidity.
There are two reasons for PURR to appreciate as more Spot tokens are deployed: real protocols deploying on Hyperliquid, as well as memecoins.
Today, we saw an announcement from Rage Trade, a Perp Dex Aggregator, that described why they plan to deploy their token on Hyperliquid. This is proof of real interest from protocols that Hyperliquid is a viable L1 to deploy on, and belief in its future.
Real protocols are more likely to airdrop to HYPE token holders or point holders if the token is not live yet, and not PURR imo. However, PURR will serve as a beta if there is no HYPE token available.
Next, we have memecoins.
There are already many shitcoins pending deployment, and PURR will be getting airdrops from them. PURR is the easiest way to get future hyperliquid shitcoin exposure. I am planning to start selling once these airdrops start happening.
HYPE token doesn’t seem to be dropping for at least a few weeks, as the team is more focused on mainnet upgrades.
Overall, as new spot tokens start getting deployed, I expect PURR to accrue and appreciate in value as long as the HYPE token hasn’t been deployed.
Spot Trading docs: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips
Rage Trade tweet: https://x.com/crypto_noodles/status/1788170482836984202
JEFF memecoin: https://twitter.com/jeff_on_hl