this is mostly because of nft-esque shitcoin limit order book liquidity vs traditional standing passive amms
but is also generally an issue on chains where the team builds core infra itself - its a very funny comparison but could anyone name a token on canto besides canto
Spot markets have been the most disappointing part of Hyperliquid so far
Highest market cap for a native non-team token is HFUN at $29M
Every non-native token launch (outside of uBTC & uETH) has been disappointing: GOD, ORA, MON, SOVRN)
Hundreds of pumpfuns bond every day at twice the price of a Hyperliquid ticker
Stablecoin volumes (feUSD, USDXL) have been the lone bright spot, but unclear how that will translate to native token valuations
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