Ryan Rasmussen

Hyperliquid (HYPE) is a breakthrough crypto network with strong tokenomics (99% of fees used to buy and burn HYPE), a growing ecosystem (perpetual futures, spot trading, prediction markets), and regulatory tailwinds. Bitwise is bullish long-term on HYPE, expecting significant price appreciation as adoption expands.

Chainlink is critical middleware infrastructure for tokenization, stablecoins, DeFi, and cross-chain interoperability. It has a dominant market share and a strong moat as the first mover. As tokenization and stablecoin usage grow, Chainlink's network will become more valuable.

Ryan Rasmussen stated Circle is a "pure play way to get exposure" to the stablecoin market, which is predicted to grow from $300B to $4T, and that it holds ~80-90% of the *regulated* stablecoin market. Institutional demand for regulated stablecoin exposure is growing. Circle's dominant positioning in the regulated segment, which is where most future growth from traditional finance is expected, gives it a structural advantage. LONG because Circle is uniquely positioned to capture disproportionate growth in the expanding and increasingly regulated stablecoin ecosystem. Regulatory delays (e.g., Clarity Act not passing) or increased competition eroding its market share in the regulated segment.