Matt Hougan and Ryan Rasmussen from Bitwise broke down why they think Hyperliquid ($HYPE) could STILL be massively undervalued. Even though it's already become one of crypto's biggest winners this cycle. We get into the rise of "Gen 2" crypto tokens, why Hyperliquid's tokenomics are fundamentally different from previous cycles, and how onchain perpetuals could reshape global financial markets. The first generation of crypto tokens was mostly speculation. Gen 2 is starting to look a lot more like actual businesses. That changes how you value them. And what they're really worth.
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