Cathie Wooden: Hyperliquid ‘jogs my memory of Solana within the earlier days’

ARK Make investments CEO Cathie Wooden has in contrast Hyperliquid to Solana’s early-stage promise, calling it “the brand new child on the block.”

“It’s thrilling. It jogs my memory of Solana within the earlier days, and Solana has confirmed its price and is, you recognize, there with the massive boys,” Wooden stated throughout a current interview on the Grasp Investor podcast.

ARK Make investments presently holds three principal crypto belongings in its public funds, together with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The agency’s publicity to Solana is thru Breera Sports activities, which Wooden clarified is tied to the Solana treasury and supported by Center Jap buyers. She additionally famous advisory ties to the undertaking by way of economist Artwork Laffer.

Wooden didn’t verify any place in Hyperliquid however described the protocol as one to observe. Her remarks come as competitors between perpetual futures DEXs has been heating up after Aster launched a token earlier this month and noticed its buying and selling quantity and open curiosity surge previous Hyperliquid.

Associated: Aster can flip HYPE by market cap and rally one other 480%: Analyst

Bitcoin is the true cryptocurrency

Regardless of the rising variety of tokens available in the market, Wooden believes the way forward for crypto belongs to a small set of dominant networks. “We don’t assume there are going to be very many cryptocurrencies,” she stated. “Bitcoin owns the cryptocurrency house in the case of pure crypto.”

Whereas Ethereum powers the DeFi ecosystem, Wooden identified Bitcoin’s function as a financial system, citing its mounted provide and resilience. She additionally famous the rising significance of stablecoins however clarified that Bitcoin stays on the core of Ark’s long-term thesis.

Wooden acknowledged that the fund additionally holds some derivatives akin to Uniswap and market protocols associated to Solana, however stated the core focus stays slender by design. “If you happen to’re speaking in regards to the huge boys or ladies, these are the massive three proper now,” she stated.

Associated: Bitwise recordsdata for spot Hyperliquid ETF amid perp DEX wars

Retail and quants flock to DEXs

Decentralized exchanges (DEXs) are seeing rising adoption amongst retail merchants and semi-professional quants, pushed by incentives like airdrops, low charges, and quick execution, in accordance with Bitget Pockets chief advertising officer Jamie Elkaleh.