When you think about the second and third order effects of trillions of dollars of assets, its very hard to be bearish on DeFi primitives like Hyperliquid, Lighter, Chainlink, Aave, Morpho, Aerodrome, Pendle, Uniswap, and many more. Especially those with cash-flows, and very strong token economics

When you think about the second and third order effects of trillions of dollars of assets, its very hard to be bearish on DeFi primitives like Hyperliquid, Lighter, Chainlink, Aave, Morpho, Aerodrome, Pendle, Uniswap, and many more. Especially those with cash-flows, and very strong token economics

That ~$10T figure is Pantera's from their note 'The Rise of Perps and Hyperliquid.' Worth reading in full: https://panteracapital.com/rise-of-perps-and-hyperliquid/