Hyperliquid's emergence is a complete disaster for the 'old crypto world.' First, blockchain technology has truly been implemented and is actually profitable now, breaking out of the circle after shouting about it for years. Second, Hyperliquid didn’t play the old 'governance token' game—project profits are completely tied to the token, and profits mean pumping. Hype has redefined the standard, leaving other altcoins with no chance. Altcoins will feel even more hopeless—this is definitely a disaster for the 'old crypto world.'