I have gone black, I have developed hatred out of love: Hype may be the next ETH The reasons are as follows. -Many people believe in it, but the vast majority are early holders of low cost products -I couldn't find enough mid curve connections, so the possibility of breaking the circle is weak for on chain use -The price was discovered too quickly, with high multiples in the short term and insufficient long-term deep market washing The price discovery of Hype is based on the narrative premium brought by the repurchase of transaction fees and the popularity of CT volume, but the transaction fees are based on the long-term operation of this platform and have a direct correlation with the platform coin price. Now it's a dilemma: -If the leverage is down, why do gambling dogs come to play on the so-called on chain Binance? -If we set aside the narrative, what are the advantages of Hyperliquid compared to second tier platforms such as Gate and Bitget? Especially in the secondary market, which is essentially no different from the dark forest, once the giant whale funds expose their traces on the chain, they may inevitably be targeted for positions, which restricts the objective upper limit of the platform's overall fund capacity. If I need the best liquidity, why don't I go to Binance? If Hype is now benchmarking against the evergreen tree Gate in the second tier, it is actually a premium of too much (Gate's establishment was even earlier than Binance and OKX) Related interests: Lost a medium amount of money on HYPE, lost a large amount of money on ETH, and did not establish any cooperative relationship with Gate