Why is Hyperliquid on such a run?

Here are some catalysts
HIP3 OI ATH ($790M): https://x.com/HyperliquidX/status/2015812710483845519
HIP3 daily volume ATH ($1.5B): https://x.com/DegenerateNews/status/2015994150315827298
Hyperliquid more liquid then CEXes like Binance: https://x.com/chameleon_jeff/status/2015820241524379991
Hyperliquid overtaken OKX in futures OI: https://x.com/MacroMate8/status/2016071760534466623
HSI (PURR) DAT is buying: https://x.com/mlmabc/status/2011093888170410237
Eric's report: https://x.com/ericonomic/status/2015821606061572503
Kraken listing $HYPE: https://x.com/krakenfx/status/2016248665543774710
Citrini: https://x.com/Citrini7/status/2016003409325793292
Ark invest mentioned (pg 55-56) : https://www.ark-invest.com/big-ideas-2026
Fundstrat Client Update (Bullish HYPE): https://x.com/leeminceman/status/2016323031073743298

Bonus: Hyperliquid Merch Arrived (for top traders: Arcteryx branded merch): https://x.com/cryptohaha11/status/2016160340799848599

Fidelity Investments announced the launch of the FIDD stablecoin, based on Ethereum; the issuer is Fidelity Digital Assets; reserves consist of cash, cash equivalents, and short-term U.S. Treasuries, compliant with the GENIUS Act; supports 24/7 institutional settlement and on-chain retail payments; 1:1 USD redemption on Fidelity platforms; daily disclosure of issuance volume and reserves, with regular third-party audits. — link

JUST IN: Robinhood to enable 24/7 trading and "self-custody" with tokenized stocks.

@WatcherGuru

Hyperliquid Announces 140K Units To Be Distributed Next Months For Team Unlocks, Down From 1.2M Units The Previous Month: Discord

🔗 velo.xyz

On-chain investment vaults now manage over $6 billion in assets — link | AI comment

TETHER SIDES WITH BANKS, SUPPORTS STABLECOIN YIELD BAN IN MARKET STRUCTURE BILL: SOURCES TO BROGANLAW: INFINITYHEDGE

JUST IN: $770,000,000 worth of crypto longs liquidated in the past 30 minutes.

@WatcherGuru