| This study investigates the role of linguistic strategies in the cryptocurrency market, specifically within the Hyperliquid community on X, positioning it as an example of narrative economics where sentiments drive economic fluctuations. While the impact of Key Opinion Leaders (KOLs) on market sentiment is acknowledged, the specific linguistic mechanisms used to construct these sentiments remain underexplored. Adopting a qualitative case study approach, this research used Critical Discourse Analysis and Pragmatics to analyze 217 tweets posted by four selected KOLs between March 1 and July 8, 2025. The findings reveal a significant dominance of jargon (85%) over metaphors (15%), with “Concealment” identifying as the primary pragmatic function of jargon (75%). This function is employed to obscure technical complexities and mitigate market fear, while “Identity” serves to reinforce community exclusivity. Conversely, metaphors were predominantly used for “Intensification” (57%) to heighten social hype, although official project accounts notably avoided figurative language entirely to maintain institutional neutrality. The study concludes that value in the Hyperliquid ecosystem is actively manufactured through discursive power, where linguistic strategies mutate market volatility into narratives of resilience and innovation. |