GarrettZ @GarrettZ

Our June 2026 performance update is now live. Full report below ↓

So the protocol @re has been getting lots of attention, thanks to their $600M FDV token launch for RE, but I'm telling you the actual business behind this team is one of the most scalable to ever be built onchain. DeFi nerds will dig this, cuz it's proof what can be built onchain, with real yield, but better than its TradFi counterparts. Both of their offerings, reUSD and reUSDe, earn from real-world reinsurance premiums, but the reUSD has senior tranche protection (6% APY) vs reUSDe is the mezzanine tranche (12.3% APY). If either of these fit into your yield portfolio construction, consider locking in the fixed yields via their Pendle PTs for up to 160+ days. PT-reUSD = 9.4% APY PT-reUSDe = 15.4% APY Pendle links: app.pendle.finance/trade/markets?…

Kinetiq just completed it's single largest day of buybacks of $KNTQ directly on HyperCore since this was enacted a bit over ~2 months ago. >12% of cumulative purchasing just occurred in a single day, which now equates to just over $365k (+ $120k of $KNTQ burnt from HyperCore trading fees) This may not look like much, especially in light of $HYPE which has set a new standard for value accrual industry-wide, however.. The @Kinetiq_xyz protocol is purchasing a larger share of all circulating $KNTQ than $HYPE: $KNTQ: .0156% of circ daily (+80% higher than HYPE) $HYPE: .0086 of circ daily This is not only unique to the Hyperliquid ecosystem, or the entire liquid staking landscape.. but to that of the HIP-3 and builder codes as well. See for yourself in real time: kinetiq.xyz/kntq

VVV and Capital Measured by revenue, Venice has become the largest company at the intersection of AI and cryptoeconomics. Today, we announced Venice’s first round of outside capital, a $65m Series A led by @dragonfly_xyz, valuing Venice’s equity at $1 billion. Since we are an atypical company, this thread describes how this equity raise relates to the most valuable asset we have on our balance sheet, our capital token base:0xacfe6019ed1a7dc6f7b508c02d1b04ec88cc21bf

It seems that Arthur Hayes did it again. He shilled $CARDS 4 days ago (x.com/CryptoHayes/st…) and yesterday (3 days later) sold his entire stack through Fireblocks. This is not 100% confirmed since his address wasn't publicly disclosed, but based on the timing and the tokens he previously bought, it's very likely that it belongs to him. He bought/sold 6.818M CARDS tokens. He sent them to Fireblocks and then Fireblocks deposited 75% of the stack into OKX. Then a suspicious fresh wallet withdrew small batches of tokens and sold them onchain. Arthur Hayes' address: arkm.com/explorer/addre… Probable selling address (belonging to Fireblocks/Flowdesk?): arkm.com/explorer/addre… This is the 4th time in a row that he shills and then sells after a few days. One of the worst public figures in this space.

Arthur Hayes @CryptoHayes

2 weeks ago

The ticker is $CARDS degens. The thesis is solid. The price will be pamping! Yachtzee bitches 😘😘😘😘😘😘😘

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Is Bitmine buying $HYPE? This address received 8.45K $ETH ($14M) and 108K $HYPE ($7M) from FalconX with similar behaviour as other Bitmine addresses

Just want to point out a few things wrong/missing from this analysis to give a more informed take: The takes on being a bucket shop are silly so won't even respond to that. I don't believe there is some "Holy" level of leverage to offer that the CME has mastered. The key is safety and being able to properly liquidate positions. People trading on high leverage want high leverage, period. Crypto Share of Volume: Share relative to Binance is making fresh highs. Still at just 15%. Keep in mind since this is a % of Binance rather than a % of the whole, this can go above 100% in best case scenario (not saying this is likely). AQAv2: 90% of the yield from USDC is being used to buy back HYPE. This is known but the flows don't start until October. Addition of $150-200M to ARR. HyperCore Priority Fees: This was essentially 0 two months ago and a $20M ARR currently. This has a lot of room to grow potentially and is yet another signal that when this team ships, there is immediate uptake and boost to revenue. HyperEVM network fees: burning around $1M HYPE/month Ticker auctions: burning around $2.5M/year HIP-4: brand new, currently no significant contribution. Kalshi and Polymarket have demonstrated PMF for Prediction Markets. I personally am not very bullish on this sector but maybe I'm wrong. HIP-5 and beyond: the team continues to ship and most things they ship see real uptake. I could imagine them eventually launching options among other things. The Regulatory Fork: Most serious money is still not allowed to use Hyperliquid. Hedge Funds are locked out because of LP agreements, and MMers for regulatory reasons. Opening up the market to America and to serious professionals like HFs/MMers. This would be tremendously bullish on volumes and liquidity. I call it a "fork" because the downside case is they get lawfared out forever. If this is your thesis, I implore you to watch this recent interview that I will link below with the CFTC chair. Hyperliquid as a Liquidity Backend: we have already seen large uptake of builder codes as consumer-facing products such as Phantom and Fomo offer perps to users in their frontends via their builder codes. The best case scenario for Hyperliquid is that it becomes one of the liquidity backends for traditional brokers and MMers. If Hyperliquid can continue offering better pricing than CME (as they do on BTC/ETH/SOL futures), this could become a large source of future volume in the good regulatory scenarios. Staking Rewards and Community Tokens: Lazy analysis values HYPE at its fully diluted value. More careful analysis realizes 1) most emissions go directly to existing token holders 2) future community emissions (nearly 40% of fully diluted supply) may never happen, partially happen, or be redirected to stakers over N number of years. If 1 HYPE staked today = 2 HYPE staked in N years, the price is effectively halved today (ignoring tax distortions). The circulating cap is around $17B today, and this isn't backing out any supply, including that owned by Hyperliquid Strategies DAT, which is presumably off the market. Hyperliquid.

@blknoiz06 Yeah but they dont want capitalists to control our politics and institutions. There's def a middle ground possible

@onchainbeliever Very stretched indeed

$RE goes live on June 18, 2026. A global capital ocean supporting the real world. govern.re.xyz

weekly collector crypt blockworks stats just updated. all time highs in almost every single metric volume, profit, pack openings, revenue. higher, $cards

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Hyperliquid reached new all-time highs in both daily and weekly new wallet creation. • 44,393 new wallets in a single day, including 34,978 that traded on @tradexyz. • 76,361 new wallets over the past week. The surge was notably driven by the $SPCX IPO.

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[ ZOOMER ] CFTC CONSIDERS BLOCKING CME’S 24/7 OIL TRADING PROPOSAL, FOLLOWING CME RAISING CONCERNS OVER HYPERLIQUID: BBG

By community request, 10 new dashboards are live on hl.eco: Hyperliquid vs Robinhood: volume, revenue and capital efficiency, head to head. HL clears 92% of Robinhood's entire quarterly trading volume, and 8x its crypto volume. Coinbase $HYPE Buybacks: implied daily and monthly HYPE buy pressure from the USDC reserve-yield deal, across a range of yield assumptions. Prediction Markets: HIP-4 weekly volume next to Kalshi, Polymarket, Limitless, Opinion and Predict.fun. HYPE Holders: holder analysis across both HyperCore and HyperEVM, and retail vs whale counts over time. European HYPE ETPs: fees, staking yield, backing and size for every European HYPE product from 21Shares, VanEck, Bitwise and CoinShares. HIP-4 Governance: validators propose new prediction markets and vote how they resolve. See every live proposal and its quorum. All TWAPs: every active TWAP order across perp, spot and HIP-3, sliced over time. HIP-3 Oracle Health: per-feed price deviation and staleness across every HIP-3 market. Outcome Markets: Hyperliquid now runs four recurring daily binaries, BTC, ETH, SOL and HYPE. Each family tracked cycle by cycle with live YES and NO flows. Builder Analysis: a dedicated page for every builder code, with revenue and active-trader curves, coin mix, user concentration, and top traders by volume. Hyperliquid.

@Markets_xyz Lets gooooooo

Money printer goes burrrrr with Markets app. Now live on both Android and iOS. Trade, follow, earn 24/7. Download & copy the best traders in the world. 👇

3Jane is now open to the public Mint USD3 to earn $JANE Liquidity mining details below

1/ The Sekai public testnet is now live. Sekai is a liquid staking protocol for Hyperliquid where anyone can launch their own LST - with instant exit liquidity via Sekai DEX from day one. Sekai brings a few things new to HyperEVM liquid staking - tradeable unstaking positions, holder-governed LSTs, a shared exit DEX, and staking-enabled primitives (HIP-3 exchanges, quote assets, etc.) managed directly from our frontend. This thread walks through all of these components, and who Sekai is for.

Practically every major reinsurance broker in the world now points business toward Re. Cover Re has $431.1M on the books as of June 2026. Over $247.4M in new business this year, against a $400M full-year stretch target. @karnsaroya breaks it down on @therollupco with @andyyy:

Citrini's thematic update has a significant writeup on Hyperliquid "Hyperliquid is the non-custodial antidote to FTX's failure"