Today, @HyperliquidX launched pre-market trading for @megaeth_labs. Abstract opened high, reaching a market cap of nearly $6B. Note that @arbitrum's fully floated market cap has now fallen to $3B. I don't believe any L2 valuation will surpass $ARB in my lifetime. @megaeth_labs' new offering is being auctioned, with a maximum price of $1B. This clearly forces you to hedge early, but if you don't have sufficient financial resources, you'll likely be wiped out by your naked short position. This is no longer a game for the average person.