Dragonfly Capital partner says Hyperliquid is expanding, not taking CEX market share

Haseeb Qureshi, managing partner at crypto venture firm Dragonfly Capital, said Hyperliquid (HYPE) is expanding the overall market rather than taking share from centralized exchanges, according to Odaily. Qureshi said Hyperliquid serves as a primary venue for some users who face difficulties with know-your-customer requirements or cannot use major exchanges. Even as Hyperliquid’s share has grown, trading volume on centralized exchanges has not declined, Qureshi said. He added he is positive on demand for the crypto market and pre-IPO stock trading over the next six to 12 months. Looking further ahead, Qureshi said the line between crypto venture capital and traditional venture capital will blur by 2030 as crypto technology is adopted in fintech, digital banks, stablecoins, and consumer products. He said investment firms including Dragonfly are likely to increase investments in fintech, emerging technology, and AI companies. Qureshi also said an investment firm’s competitive edge depends not only on industry knowledge, but also on market understanding, networks, and the ability to help founders solve real-world problems.