Delphi Digital: Lists HOOD, HYPE, and LIT as Speculative Trading Thematic Investment Targets

On October 21, a latest research report published by Delphi Digital titled “The House Always Wins: Why Speculation Is the Theme of the Next Decade” lists Robinhood (HOOD), Hyperliquid (HYPE), and Lighter (LIT) as core targets for investing in this theme.

The report notes that speculative activity is propelled by dual engines of technological advancement and strain on the macro monetary system. The most effective investment strategy is to “own the house,” which means positioning in platforms that provide trade matching and clearing infrastructure, rather than betting on highly volatile underlying speculative assets.

In its assessment of these targets, Robinhood showcases the advantage of a comprehensive broker bundling and distributing event contracts, options, and cryptocurrencies. Hyperliquid, leveraging permissionless on-chain perpetual contracts and extension protocols such as HIP-3 and HIP-4, is evolving into an on-chain clearing layer supporting round-the-clock multi-asset trading, while continuously repurchasing HYPE with protocol fees. Meanwhile, Lighter, which builds its order book based on zero-knowledge proofs, establishes competitive barriers through zero retail fees and cross-platform distribution partnerships, collectively forming infrastructure exposure to capture global speculative demand.

Related reading: “Speculation Is the Main Theme of This Decade: Don’t Bet on the Games Themselves, Buy the Casino Operators”