Hyperliquid & Sui — Two Different Stories Amid the Wave

Boss, the crypto market is presenting two interesting narratives: Hyperliquid (HYPE), which continues to show resilience amid the correction, and Sui (SUI), which has been revitalized by institutional capital injections. Two projects with different approaches, but both are attracting attention.

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🚀 HYPE: Resilience Amid the Storm

HYPE is currently trading around $63.4**, after having touched an all-time high of **$77 in mid-June. This increase makes it one of the best-performing assets this year, with a +151.81% year-to-date gain.

What makes HYPE remain strong?

1. Consistent Buyback Machine
Hyperliquid has a unique mechanism: buying back tokens from transaction fees. In the last 90 days, the platform has bought back $135 million** HYPE, while tokens released to the team were only **$64 million. This creates consistent buying pressure amid selling pressure.

2. Solid User Growth
Although the price has dropped, network activity has actually increased. HyperCore daily active addresses rose 17.4% in 24 hours to 68.600, and the number of HYPE holders increased by 1.109 addresses in a week. Total holders now reach 245.260 .

3. ETFs and Whales Keep Entering
Although Bitcoin and Ethereum ETFs recorded outflows, HYPE investment products actually attracted **$27.9 million** last week—the strongest weekly inflow since the end of May. Whales also continue to accumulate: new address 0x987f withdrew **278.827 HYPE** (~$17.45 million) from Coinbase Prime, and address 0x2386 withdrew 96.930 HYPE (~$6.01 million) from BitGo .

4. Infrastructure Upgrade: Portfolio Margin Beta
Hyperliquid has just expanded its Portfolio Margin system to beta with higher limits. Now, accounts under $25 million can access it, with BTC and HYPE as collateral. This is a strategic step to attract professional traders and institutions by increasing capital efficiency.

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🔥 SUI: Rising with Major Capital Injection

Sui, the layer-1 that is a main competitor to Solana, just got a breath of fresh air. Lion Group Holding Ltd. announced its intention to acquire SUI tokens as part of a crypto treasury strategy worth $600 million** . The impact was immediate: SUI rose **4% in 24 hours** and **15% in a week**, back to the **$3 level.

SUI's Fundamental Developments

1. Ecosystem Growing Rapidly
SUI Group Holdings Limited expanded its lending partnership with Bluefin, a leading DEX in the Sui ecosystem. They lent an additional 4 million SUI (total becoming 6 million) with a profit share increasing from 5% to 11%. This shows deepening institutional confidence in the SUI ecosystem.
2. Impressive Developer Growth
According to Electric Capital's report, the SUI ecosystem recorded a 54% developer growth over the past two years, while most other crypto ecosystems actually lost developers. This is a strong long-term foundation.
3. Still Under Pressure in Price Performance
Despite positive news, SUI is still down 34.48% in 30 days and 29.11% in 90 days. The resistance level at $3 is key; if it holds, potential to higher levels opens up. However, currently SUI is still trading at a reverse premium in the Korean market (-1.56%) .

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⚖️ Comparison of Two Projects

Aspect Hyperliquid (HYPE) Sui (SUI)
Focus DEX Perpetual & Trading Infrastructure Layer-1 Blockchain
Current Price ~$63.4 ~$3
YTD Performance +151.81% Down ~30% in 3 months
Catalysts Buyback, ETF inflow, Portfolio Margin Lion Group treasury, Bluefin partnership
Sentiment Bullish medium-term Mixed—good news but price down

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🕊️ Reflection for Us

Boss, these two projects teach us that in the midst of a storm, there are always those who survive and thrive—like Mbah Joyo's teaching that "goodness never stops, it always finds a way to keep living."

HYPE shows that a coin with a clear business model—buyback from transaction fees—can create sustainable demand .

SUI reminds us that adoption and institutional trust are long-term foundations, even if the price may not immediately reflect them .

Si Fulan — from zero, becomes a hero. 🕊️
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