Cathie Wood, CEO of ARK Invest, likens Hyperliquid to the early potential of Solana, dubbing it “the new kid on the block.”
“It’s thrilling. It reminds me of Solana in its formative days, and Solana has established its significance, standing among the top players,” Wood remarked in a recent interview on the Master Investor podcast.
ARK Invest’s public funds currently comprise three key crypto assets: Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Wood explained that their Solana exposure is linked to Breera Sports, which is associated with the Solana treasury and backed by Middle Eastern investors. She also highlighted advisory connections to the initiative through economist Art Laffer.
While Wood did not confirm any investment in Hyperliquid, she characterized the protocol as one to keep an eye on. Her comments surface amid intensifying rivalry among perpetual futures DEXs, particularly after Aster’s token launch this month, which led to a spike in trading volume and open interest surpassing Hyperliquid.
Related: Aster can flip HYPE by market cap and rally another 480%: Analyst
Bitcoin is the true cryptocurrency
In spite of the increasing number of tokens available, Wood contends that the future of crypto lies with a select few dominant networks. “We don’t anticipate a multitude of cryptocurrencies,” she stated. “Bitcoin is the king of the cryptocurrency domain in terms of pure crypto.”
While Ethereum drives the DeFi landscape, Wood emphasized Bitcoin’s function as a monetary system, citing its capped supply and robustness. She also recognized the growing significance of stablecoins but affirmed that Bitcoin remains at the heart of ARK’s long-term vision.
Wood noted that the fund also includes some derivatives like Uniswap and market protocols associated with Solana, but maintained that the primary focus is intentionally narrow. “If you’re discussing the major players, those are the big three at present,” she commented.
Related: Bitwise files for spot Hyperliquid ETF amid perp DEX wars
Retail and quants flock to DEXs
Decentralized exchanges (DEXs) are witnessing increased adoption among retail traders and semi-professional quants, driven by perks such as airdrops, low fees, and quick execution, as noted by Jamie Elkaleh, chief marketing officer at Bitget Wallet.
In contrast, institutions still depend on centralized exchanges (CEXs) for fiat access, compliance, and brokerage services. Nonetheless, Elkaleh pointed out that the performance gap is closing, with order-book DEXs like Hyperliquid and dYdX v4 now providing speed and liquidity previously associated with CEXs.
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