SpaceX Is Now the Most Popular Trade on Hyperliquid. That's Exactly Why I'm Buying HYPE.

SpaceX's IPO generated $1.4 billion in trading volume on Hyperliquid's decentralized exchange, making it the most-traded asset. The author argues this demonstrates Hyperliquid's value proposition: its permissionless perpetual futures market and fee-buyback mechanism that burns tokens and rewards holders. As more high-profile IPOs list on the platform, Hyperliquid's business model should continue generating value, though market sentiment cooling could slow the buyback engine.