Hyperliquid to onboard 10M Phantom users – Will HYPE hit $120 now?

Key Points

1. Hyperliquid partnered to onboard 10M Phantom users, potentially increasing its revenue and user base significantly.

2. Ryan Watkins of Syncracy Capital highlighted Hyperliquid's builder codes as a key feature enabling it to outcompete centralized exchanges (CEXs).

3. A Hyperliquid Improvement Proposal (HIP-3) could allow builders to share fees, incentivizing further adoption.

4. Hyperliquid has attracted nearly $400M in cumulative revenue with 40k daily users; Phantom's 10M+ users could boost this further.

5. Analysts project Hyperliquid's market cap could reach $70B-$120B within a year, implying a price target of $69-$120 for HYPE.