hyperliquid:native Many people are now discussing HYPE, and the conversation has started to go off track.

Once an interview is published, they start rushing toward conspiracy theories; at the core, it’s still about information cocoons and emotional amplification.
When I go to other groups to hype, many people's reactions are very direct:
“Isn’t it just a clone coin?”
They’re not bearish; they’re just too lazy to even research.
So you’ll find that the people who truly believe are increasing in number, while those who don’t believe won’t even open the first layer of information.
This is the current structure of information flow.
What you pay attention to, the system feeds you.
We stare at HYPE every day, watch more, talk more, naturally making many signals infinitely amplified.
But setting aside emotions, returning to investment itself, things are not that complicated.
Is HYPE expensive now?
Yes, it is. I admit that.
So I’m also reducing my dollar-cost averaging intensity.
But I won’t sell just because “it’s expensive.”
Because high valuation has never been a reason to sell, and if you can’t find a better place, selling itself is meaningless.
What truly determines whether an asset can continue to rise is not whether you like its PE, PS, or FDV today,
but whether its industry track is a ceiling high enough and the expectations can be continuously fulfilled.
When Tencent’s PE was 150 times back then, some people also said it was ridiculously expensive.
But later, it relied on revenue and profit growth to gradually digest that high valuation.
So the ultimate question still comes down to that old question:
If you sell HYPE now, where are you planning to put the money?
At least in my view,
looking at the entire crypto space now,
there really isn’t a project that clearly offers a better opportunity to absorb this part of the liquidity than HYPE.