Flood compares Hyperliquid to BNB

por Tufail: Changpeng Zhao

Flood gave his thesis for why Hyperliquid could reach BNB’s valuation in December 2024… HYPE is up over 5x since “Why can this trade at BNB valuation? If you think about what BNB is, BNB is a cult. BNB is like the ultimate cult meme token. It’s the CT meme token to basically get long CZ’s savageness” “BNB is a meme token at the end of the day. The cash flows are meaningless, the burns are meaningless but you own BNB because you believe in Binance” “I think there’s a pretty interesting comparison both on the exchange stuff. You always hear people saying, ‘Hey, this is onchain Binance.’ Use the product and tell me if you think it’s not, because it definitely feels that way to me” “Additionally, Hyperliquid has this token where the team owns a considerable amount of it and they’re buying more every day” “Every day they go out in market and buy more. You can look at it. It’s a top 4 holder. It’s called Assistance Fund and they basically bought $150M worth of the token” “What do you think CZ has done with BNB? You think there’s a ton of organic idiosyncratic bid for BNB? No. He takes $1B and he’s like, ‘I’m going to rip this because it makes everyone on my platform rich’” “What is the greatest marketing strategy on Earth? It’s a token that goes up. It’s a token that goes up and that’s what they understand” “CZ owns a lot of the float. The Hyperliquid team owns a lot of the float and I don’t think they’re sellers” “Hyperliquid has the ability to be better I would say because they’re starting with the greatest wealth event in crypto, which was airdropping $6B worth of capital to traders, organic users of the platform” “Tell me what team has done that? Can you give any example of a team that’s given away one tenth of the amount in an airdrop and then instead of dumping the token went out and bought?”