Apollo Crypto has made Hyperliquid its largest altcoin holding due to strong product-market fit, transparent tokenomics, and growing market adoption. Head of research Pratik Kala praised Hyperliquid for its effective exchange, straightforward revenue-linked token model, and simple buyback structure that uses nearly all platform revenues to repurchase its token. Kala contrasted this with more complex and opaque token models seen elsewhere in crypto. He highlighted that significant trading volumes, institutional usage, and innovative features such as HIP-3—which enables trading of various assets, including private-market names and commodities, around the clock—further distinguish Hyperliquid. Kala cited instances where HIP-3 allowed profitable trading on breaking news when traditional markets were closed. He noted that HIP-3 has quickly attracted notable market volume and serious participants, with revenue shared between Hyperliquid and market deployers and flowing back into token buybacks. Upcoming expansions like HIP-4 (prediction markets and options) and possible US-compliant versions are expected to further boost the platform. Kala acknowledged competitors, but argued Hyperliquid already commands trader attention, liquidity, and loyalty. As of the latest data, HYPE traded at $30.485.