Bitwise Says Hyperliquid Is More Than a DEX, Calls HYPE Undervalued
Summary
- Bitwise said Hyperliquid’s HYPE token is one of the market’s leading undervalued assets.
- Matt Hougan said the structure that uses 99%% of trading fees for HYPE token buybacks is a strong model for supporting value.
- The market is watching how growth in decentralized derivatives platforms and token value-accrual models could affect structural changes in the digital-asset market.
Forecast Trend Report by Period
Bitwise has identified Hyperliquid’s HYPE token as one of the market’s most undervalued assets, arguing the platform is evolving beyond a decentralized exchange into a broader financial platform.
CoinDesk reported on May 19 that Bitwise Chief Investment Officer Matt Hougan said the market is making a “pricing error” by valuing Hyperliquid as little more than a perpetual futures exchange.
He described Hyperliquid as a global financial super app expanding beyond crypto into stocks, commodities, foreign exchange and prediction markets.
Hougan estimated the platform’s annual revenue at about $800 million to $1 billion.
He also highlighted Hyperliquid’s fee structure, under which 99% of trading fees are used for HYPE token buybacks, as a strong model for supporting value.
Hyperliquid has recently been rapidly gaining market share, led by perpetual futures trading.
Market participants are also watching how the growth of decentralized derivatives platforms and token value-accrual models could reshape the structure of digital-asset markets.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
