Hyperliquid Could Become The Most Important Asset In Crypto

**Crisan** (0:00)
Hyperliquid, they've literally become, shall we say, the Google or the ChatGPT of weekend trading. They've literally invented this whole 24-7 trading aspect, and everyone now is being forced, whether they want to or not, they're going down this road.

**LGD** (0:16)
What's up, everybody? It's LGD who's set here, and welcome to The Milk Road Show, the daily crypto show where we're asking if Hyperliquid is the future of finance or just a shiny new toy for us to obsess over. Today is June 10th, 2026 We're recording on June 9th. Hyperliquid just had its first real pullback after becoming one of the hottest trades in crypto in 2026 One of the only trades, you could say. But under the hood, the story is bigger than one token chart. Oil, stocks, commodities, prediction markets, and perps are all starting to trade on chain 24-7. This is a really big deal. Today, we're breaking down whether hype is just another crowded alt or the first real everything exchanging crypto with Elie and Crisan from 21Shares. Also, as you know, the market is going completely insane last week, and our analysts, and I'm not kidding, I know I've said this a few times, they made literally 20 trades last week, a record week at Milk Road Pro. Some are buying the blood, others are waiting it out. You can see what they sold and what they bought for just a dollar in Milk Road Pro. You get seven days in there and you can cancel anytime you want. Today's episode is brought to you by Cape, the privacy first mobile carrier.
Let's get them in here. Elie, Crisan, Elie, welcome back to the show. First of all, Crisan, welcome to the show for the first time.

**Crisan** (1:23)
Thank you very much. Pleasure to be here.

**Eliezer Ndinga** (1:26)
Pleasure is ours. Great to be here.

**LGD** (1:28)
Well, we have a lot to talk about. We are going to talk about Hyperliquid, but the first thing I always want to ask our guests, especially right now, as we are talking, Bitcoin is taking another little stroll downwards downhill, sitting around 61K, which as you know, maybe five, six years ago would have been wonderful.
But by today's standards feels a little bit horrible. Crisan, I want to know from you, especially as a newcomer to the show, how are you visualizing the market right now? Do you feel like we're in for more pain? Are these necessary corrections in crypto? How do you see it?

**Crisan** (1:58)
Right now, at the 60k mark on BTC, I think at the moment, all eyes seem to be on tomorrow's inflation print. It's pretty much going to dictate at least the next three to four months on where things go from there. Any, shall we say, 4.3, 4.4 above, is definitely going to start repricing where interest rates go.
That may also have a negative effect on crypto, etc.
But in terms of the long-term, I'm still bullish overall. And one can argue this is definitely slowly becoming an entry point on that side. I think the market's definitely changed from where it was, shall we say, 3, 4 years ago to where it is now. There's definitely more merger between crypto and TradFi. It's no longer the case of crypto's a kind of magic ball which will disappear. I think there's recognition that there's definitely going to be a use case of blockchain and crypto in TradFi space and we'll get on to Hyperliquid itself. So I don't necessarily think you can reference from 3, 4 years ago to where it is now. But having said that, as I mentioned, the market is definitely a testing point, not just for crypto, but overall. In terms of cash market, we also have the SpaceX AI trade going on at this moment in time. So there's a lot of narratives going on. Crypto is trying to fight its way through there. But yeah, long term, I'd definitely argue that slowly this becomes a nice entry point going forward if you're a long-term believer on this space. Not to say that it can't go low.
I know this sounds almost like I'm sitting on the fence. I don't want to go one way or another. I try and avoid that. So I try not to go down that road. But you just have to look at where basis is. There's a lot of leverage that's been taken out of the system ever since October the 11th, 10th, 11th, shall we say, it's been on a downward spiral. The leverage has pretty much gone. Basis is almost cheap. Funding is almost at a cheap level. So one can argue narrative wise, slowly, if you look at projects and coins that you have firm belief on, and again, that requires a lot of due diligence on that part. But those projects which you have firm belief on definitely slowly becomes a good entry point on that side.