$LIT and $ANSEM pumping proves the point again: narratives and attention matter more than product. $LIT is technically dogshit, but it's still 30x "cheaper" than $HYPE. $ANSEM is literally a useless memecoin, but Ansem is the biggest and still relatively credible CT account, and it's the newest, shiniest memecoin on $SOL. Sometimes you have to leftcurve things to make money, especially in crypto. One of the big narratives for the upcoming Variational TGE, at least for me, is that people will see $VAR as 50-100x cheaper $HYPE, so why not ape. Most people buying post-TGE will never touch the platform, same as with $LIT. I know maybe 3 people who actually use Lighter, but a decent amount who went long. Hyperliquid

Think there's confusion around $SPCX. People longing at $210 assume they're getting in at 2,1T$. Actual implied valuation is closer to $2.5T, since the perp prices off 11.87B fully diluted shares. Right now, the biggest $SPCX short on the platform is NMTD with his 1.72M$ short Hyperliquid

SpaceX perp volume today: HL xyz: $41.6m / $27m OI Lighter: $569k / $301k (73x smaller) Aster: $138k / $104k (300x smaller) One market is eating the entire pre-ipo order flow. Hyperliquid