Hyperliquid’s HYPE one of crypto’s most undervalued assets, says Bitwise
CoinDesk
Bitwise identifies Hyperliquid's HYPE token as undervalued, noting its evolution from a derivatives exchange into a comprehensive financial super-app.Summary
Bitwise CIO Matt Hougan argues that the HYPE token is significantly undervalued because the market views Hyperliquid merely as a derivatives exchange rather than a multi-asset financial super-app. By expanding into equities, commodities, and prediction markets, the platform has seen strong growth, with annualized revenue estimated between $800 million and $1 billion. Hougan emphasizes that 99% of trading fees are used for HYPE buybacks, creating a direct link between platform activity and token value, while favorable regulatory conditions and new stablecoin partnerships further support its potential.
(Source：CoinDesk)