The open lane that the narrative power of $HYPE needs to capitalise on is not the supply weighted P/E ratio being that is peddled by enthusiasts on this app.
It's the existence of Sonnet Biotehrapeutics, that will be renamed to "Hyperliquid Strategies Inc.", that will be in the business of raising money to buying HYPE and legitimising Hyperliquid in the eyes of Institutions with an undeployed 300m warchest and the existence of Lion Group Holdings with a 600m credit line.
The expected close of the Sonnet Biotherapeutics merger is in the second half of 2025, which will fuel the reignition of the Hyperliquid narrative after supply is gobbled up by believers and the AF sub $50.
This is what fuels the next positive feedback loop, and the next exponential jump in metrics across the board.
Novogratz dominance is going up in crypto mindshare
Novo has previously shilled an onchain perp dex on national television, becoming the first person to legitimise the protocol in TradFi
This provides an open lane for said onchain perp dex to reignite it's narrative power, which has been weak in the past few weeks
Time to shine, Jeff
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