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曾嘉俊 Zeng Jiajun|8月 15, 2025 14:56

100% of the USDC liquidity of hyperliquid bridged from arbitrum but hyperliquid(15b) is 6x larger marketcap than arbitrum(2b). fat protocol thesis might still hold, but only apply to the most underlying protocol, like Ethereum. not the middleware.(曾嘉俊 Zeng Jiajun)

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