Multicoin makes case for HYPE $300+

Multicoin Capital published a full analysis and valuation of Hyperliquid, calling HYPE one of the largest positions in its liquid fund. The hook? Hyperliquid is not just another DeFi venue – it’s taking perp market share, pushing into real-world assets, and tying exchange economics directly to the token. With that, the fund expects HYPE to increase more than 400% in the next few years. Read the full report here →

After dropping more than 2% Tuesday on news that Meta was working on it’s own prediction market, DraftKings today came out swinging. The company officially launched DKeX, a “proprietary prediction markets exchange”, which utilizes the tech and CFTC license the company received from from it’s acquisition of Railbird Technologies. This would be different than how Robinhood and Coinbase currently offer prediction markets for example, in which the backend is just Kalshi. DKNG is up 4% on the news. Read more →

Kraken is reportedly exploring a major investment in Aave, but Aave’s founder is already pushing back on the details. CoinDesk reported that Kraken was in talks to invest 35,000 ETH for a package including AAVE tokens and a 15% equity stake in Aave Group, the company behind the DeFi lending protocol. But Aave founder Stani Kulechov disputed the report, saying there is “no way” the company would sell AAVE tokens at a steep discount. The wrinkle is that Kraken and Aave already have a working relationship through Kraken’s DeFi Earn product, which uses Aave under the hood. So there may be real strategic interest here – just not necessarily on the terms being reported. Read more →

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