Hyperliquid’s biggest risk is regulation, says Ran Neuner
Crypto Banter founder Ran Neuner said regulation is the biggest risk to Hyperliquid, especially the prospect that governments will next target decentralized exchanges after tightening rules on centralized exchanges. He noted that frameworks such as MiCA show regulators are already building oversight for CEXs, and warned DEXs could face similar scrutiny later. He was more optimistic about Hyperliquid’s competitive position, arguing that its strongest defense is network effects and deep liquidity, which are hard to copy. Users tend to concentrate on the busiest exchange because it offers better execution and easier trade entry and exit. Hyperliquid leads perpetual DEXs by 30-day volume, with about $223 billion, and its HYPE token has risen sharply this year. US officials have also suggested a compliant path into the country may be possible, though no formal proposal or launch plan has been announced.
