Hyperliquid's future growth is expected to be driven by its Layer 1 ecosystem, HyperEVM, the stablecoin USDH, and the upcoming HIP-3 proposal. These elements are anticipated to expand revenue streams and enhance the value of the HYPE token. However, potential risks include a decline in trading volume and market share, a significant drop in open interest, or USDH losing its peg, which could undermine its long-term advantages.