Is Hyperliquid Actually Worth the Hype?

Asset manager Bitwise deposited and staked 1.775 million HYPE tokens, valued at approximately $114 million, into Hyperliquid. This action expands a position the firm has been building since launching a spot Hyperliquid fund in May. By moving these native tokens of the Hyperliquid exchange, Bitwise has executed a significant onchain bet. The firm continues to double down on its investment strategy through the staking of these assets to maximize its presence within the ecosystem.