The main reason I'm bullish on this is the structural demand sinks working across multiple layers. HIP-3, quote assets, aligned stablecoins and DATs have all functioned as effective mechanisms for removing HYPE from circulating supply. What's particularly interesting is how team unlocks have come in significantly under what traditional unlock tracking platforms were projecting. This divergence between expected and actual unlock schedules actually reduces near-term selling pressure more than most people realize.