ARK Invest CEO Cathie Wood compared Hyperliquid to the early potential of Solana, calling it "a newcomer in the blockchain space."
Cathie Wood stated in a recent Master Investor podcast interview, "This is exciting. It reminds me of the early days of Solana, which has proven its value and is now among mainstream crypto assets."
ARK Invest currently holds three main crypto assets in its public funds: Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The company gains exposure to Solana through Breera Sports, with Cathie Wood specifically noting that this exposure is related to the Solana treasury and has the support of Middle Eastern investors. She also mentioned that economist Art Laffer serves as an advisor for the project.
Cathie Wood did not disclose whether she holds a position in Hyperliquid, but she believes the protocol is worth watching. Her comments come as competition among decentralized exchanges (DEX) for perpetual contracts intensifies. After Aster launched its token earlier this month, its trading volume and open contracts have surpassed Hyperliquid.
Despite the increasing number of tokens in the market, Cathie Wood believes the future of cryptocurrency belongs to a few dominant networks. She stated, "We believe the number of cryptocurrencies will not be too many; in the pure crypto space, Bitcoin dominates."
Ethereum supports the DeFi ecosystem, and Cathie Wood emphasized Bitcoin's role as a monetary system, pointing out its fixed supply and resilience. She also mentioned the growing importance of stablecoins but clearly emphasized that Bitcoin remains the core of Ark's long-term investment philosophy.
Cathie Wood indicated that the fund also holds some derivatives, such as Uniswap and market protocols related to Solana, but the core focus remains streamlined. She said, "If you're talking about mainstream players, it's these three assets right now."
Jamie Elkaleh, Chief Marketing Officer of Bitget Wallet, stated, "Airdrop incentives, low fees, and fast transactions are driving the continued growth of decentralized exchanges (DEX) among retail and semi-professional quantitative traders."
However, institutions still rely on centralized exchanges (CEX) for fiat on-ramps, compliance services, and brokerage support. Elkaleh pointed out, "The performance gap is narrowing, and order book DEXs like Hyperliquid and dYdX v4 are now able to provide speeds and liquidity previously only available through centralized exchanges."
Related: Crypto Executives: Stablecoins Need Consumer Protection to Replace Existing Payment Giants
Original article: “Cathie Wood: Hyperliquid ‘Reminds Me of Early Solana’”
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