Hyperliquid: The Fastest Growing Exchange in Crypto?

The podcast explores the bull case for Hyperliquid (Hype), a purpose exchange gaining traction in crypto, questioning whether its token is currently over or undervalued. Michael Nadeau from the DeFi Report joins the conversation, highlighting Hyperliquid's significant revenue generation, with $3.5 million in daily fees and $409 million over the last six months, surpassing Ethereum and Solana. The discussion covers Hyperliquid's "fair launch" token inception, its product offering a centralized exchange-like experience on-chain, and its expansion into a Layer 1 ecosystem with the Hyper EVM. Risks are also considered, including the current level of centralization and regulatory uncertainty around AML/KYC.