I legit think the easy $HYPE trade is over for average retail investors like us.. for few obvious reasons: - ICE backing Hyperliquid, Druckenmiller investing, even Elon tweeting publicly.. so now you’re buying a story thats already everywhere.. - and buying now means paying for US growth that still needs CFTC approval btw, plus a launch and US users actually using it - even if Hyperliquid pull it off, how much of that is already priced in ? the extra fees and buybacks need to beat what everyone’s expecting thats where i hesitate.. imo all this can be good for Hyperliquid without making $HYPE an obvious buy at any price.. i could be early on this call.. but it think the next leg will be harder to earn than the last.