Good read. I’d add that it’s less “CZ vs HL” and more about structural flow. Perps bait over levered shorts, cartel supply makes the squeeze automatic.
So no Binance spot [yet], but you have to assume this is purposeful.
I had theorized that if they added perps first it would be for one main reason:
Jetfuel for scam pumps by baiting "doubters."
You must also understand that perps are not real.
They're sham contracts between market players betting on up or down, hence funding - wrt spot pricing.
That's why we tend to see big dislocations during massive liq cascades or enormous pumps.
Who are going to be the target audience for shorting this?
If you ask me:
1] CZ haters.
2] HL maxis.
Those shorting are essentially saying, "Your product sucks, Hyperliquid is superior."
A logical comparison.
And listen, it may very well be.
But does that really matter?
You don't think CZ co know this?
On these sort of coins,
It is far easier to pump prices w/ short sellers capitulating or getting liquidated than pumping with fresh dollar buys.
Spot sellers are irrelevant when this is supply cornered by the Binance cartel.
To time a top, you need to have knowledge of top supply holders and monitor when they sell.
Profiting on shorts is to do with timing their large spot selling and knowing you can get a free ride down to profit with that occurrence.
But when ASTER supply is in the hands of CZ,
How do you expect to short this and win?
90% of shorters DO NOT use x1 collateralized with A LOT of money to handle being underwater potentially.
They use ISOLATED and even x2 is a 50% move [which is nothing] to wipe them out.
Now think of x3 - 33% move [again even worse] and anything above that is essentially suicide.
Stop losses will continue to trigger, it's all planned.
👀
