Should You Buy Hyperliquid (HYPE) After Its Recent Surge?

Hyperliquid (HYPE) has surged 194% in 2026, but analyst Dominic Basulto warns against buying after the recent spike. The main concern is increased competition from U.S.-regulated platforms like Kalshi, Coinbase, and Robinhood, which now offer perpetual futures trading legally in the U.S. market. As regulatory approval expands access to domestic competitors, Hyperliquid's competitive advantage as an offshore alternative is expected to diminish significantly.