Binance and Hyperliquid's current pump is, to put it bluntly, a battle for traffic and money.

Why is Hyperliquid so popular? The coins listed on it are rising sharply, attracting retail investors. Binance is getting anxious, providing liquidity to Alpha, and even created a Bonding Curve, allowing you to subscribe with BNB first and then resell, going through layers of challenges (Bonding Curve→Alpha→Contract→Spot), reaching the main site all depends on luck.

In simple terms, it means there is not enough liquidity. Relying on creating more new gameplay and launching more projects is just a gamble to strike it lucky with a hot Meme coin. However, this approach only addresses the symptoms, not the root cause. Bonding Curve seems lively, but when it drops, it could be harsher than anyone else.

Hyperliquid is flexible, while Binance relies on its scale. In the end, it's still us ordinary users who suffer, being tossed around like tools being pushed to run.

In the end, the cryptocurrency circle ultimately depends on who can retain real liquidity. However, if it relies on "tricks" instead of "real returns," then no matter how many flashy moves are made, it may still fail to win people's hearts.