The Bull Case For Hyperliquid w/ Jeff Yan

Watch on YouTube ↗  |  April 04, 2025 at 16:04  |  57:41  |  Steady Lads Podcast
Speakers
Jeff Yan — Co-founder & CEO, Hyperliquid
Jordi Alexander — Founder & CEO, Selini Capital

Summary

Steady Lads hosts Jeff Yan of Hyperliquid to discuss recent market turmoil, Trump tariffs, and Hyperliquid's evolution from a perp DEX to a broader onchain financial stack. Jeff explains Hyperliquid's HyperCore/HyperEVM architecture, HLP's reduced role, the JELLY incident, and why he believes long-term value accrues to Hyperliquid if finance moves onchain. The hosts also discuss HYPE's valuation reset and community dynamics. The episode ends with quick-fire thoughts on memecoins and stablecoins and pasta picks.

  • Markets are volatile after Trump tariffs; Bitcoin, Ethereum, and Solana are down.
  • Jeff Yan says Hyperliquid is building a broader onchain finance stack beyond a perp DEX.
  • HLP is now a backstop vault, with market makers handling most liquidation flow.
  • The JELLY incident exposed OI cap risks; validators settled and the foundation reimbursed longs.
  • HyperEVM is designed to make HyperCore programmable and connect external assets.
  • Jeff sees long-term value accrual for Hyperliquid if global finance moves onchain.
  • Jordi says HYPE looks attractive after its FDV reset to around $11-12B.
  • Quick-fire covers memecoins, stablecoins, and yield-bearing stablecoin demand.
Ideas
Jeff Yan Co-founder & CEO, Hyperliquid 47:51
Hyperliquid value accrues as finance moves onchain
Hyperliquid is not merely another exchange; it is building a single onchain financial system with high-performance native HyperCore primitives and a programmable HyperEVM layer that can plug global assets into deep liquidity. If substantial portions of global finance move onchain, value should accrue to Hyperliquid far beyond current levels, so short-term token price weakness is irrelevant.
HYPE HIGH
Jordi Alexander Founder & CEO, Selini Capital 48:55
HYPE attractive after valuation reset and revenue
HYPE was overvalued at its peak $35B FDV, but after falling to around $11-12B FDV, with substantial revenue and a more realistic fundamental case, the price is much more reasonable. He did not want to hold it at the highs but now thinks HYPE looks good here.
HYPE HIGH
Up Next
1:54:18
DOGE updates + Liberation Day Tariff Reactions with Ben Shapiro and Antonio Gracias
All-In Podcast · Apr 04
31:36
$2 Trillion Market Wipeout: Will New Tariffs Doom The Economy? | Michael Pettis
The David Lin Report · Apr 04
31:08
Markets Collapse On 'Liberation Day', Worst Is Yet To Come | Gareth Soloway
The David Lin Report · Apr 03
44:21
The Trump Tariff Dump
1000x Podcast · Apr 03
1:50:23
All-In Live from Austin: Colin and Samir, Chris Williamson, and Bryan Johnson
All-In Podcast · Apr 03

This Steady Lads Podcast video, published April 04, 2025, features Jeff Yan, Jordi Alexander discussing HYPE. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jeff Yan, Jordi Alexander  · Tickers: HYPE