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深潮 TechFlow 消息,9 月 26 日,BCHDE 聯創 Du Jun在X平台發文表示:“最近和幾個老朋友聊到HYPE,普遍認爲回購模型支撐不起 450 億的 FDV,風險和收益不對等。通俗講就算 Hyperliquid 超越 BNB,理論收益不過 3 倍;可 Perps DEX 賽道競爭白熱化,強者環伺,虎視眈眈。更關鍵的是,Hyperliquid 還沒經歷過‘大型合規+安全事故’的考驗,一旦踩雷,下跌通道會非常大。”