I smell a new $HYPE ATH coming in the next few weeks/months, possibly three figures.
Already fully recovered from the recent market crash, now sitting at $46, just 20% away from ATH.
The quick recovery was caused by a few catalysts - HIP-3 going live, Robinhood listing, equity perps, and DATs deployment worth over $300M expected soon.
On the fundamental side, the protocol continues to deliver. Protocol revenue is around $281M quarterly with 97% used for buybacks (over $645M already done this year with supply being burned).
Also, @HyperliquidX handled $317B in October volume alone and leads DeFi perps with roughly 60% of on-chain open interest.
Many are yet to clock that HIP-4 for prediction markets isn’t out yet which will put them up against Polymarket + the $1B SPAC merger with Rorschach that should close before year end which could also send $HYPE higher.
When you put all this together, you know that $70- $80 by Q4 looks very realistic.
$ASTER on the other hand is sitting at $1.15 down ~53% from its $2.42 ATH. One of the worst performers in the top 100 last week.
Their buyback plan (70-80% of Season 3 fees projected at $200M) sounds weak imo when you consider that TVL keeps bleeding and little volume on the DEX (mostly fabricated). Also, they’re still nowhere near regaining liquidation levels.
Put these two side by side, and $HYPE dominates every metric: stability, ecosystem, community, and performance.
Wouldn’t fade CZ but right now $HYPE is the conviction hold. However, watch out for November unlocks, and avoid leverage.

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