How Should We Value Hyperliquid?

Bullish:

• $HYPE - HyperLiquid (HYPE) is seen as a highly promising investment due to its unique value proposition of offering massive liquidity without fees, strong buyback program, impressive market performance, rapid adoption of HyperEVM, significant TVL growth, potential in spot trading, and overall bullish valuation metrics.

  • “There is literally no product on planet Earth right now that literally hands you $4,000,000,000 of liquidity, says, hey. We're not gonna charge you shit for this, and then you can go and make money on it.”

    Omnia·0:00

  • “If you can actually buybacks the entirety of your circulating supply, then then, yeah, that might be more effective than someone that's doing, like, 50 bps, like, every quarter.”

    Monk·54:04

  • “Look at what bounces the hardest from the bottom, and it's very clear that hype was that token this year.”

    Tolks·1:01:33

  • “The EVM has gotten a shit ton of traction, and I did not expect Solana trenchers to pop over anytime, you know, as quickly as they did.”

    Omnia·7:16

  • “Today, we're sitting at, I think, 1,600,000,000.0 in in TVL, looking at DefiLama. And that level of liquidity coming to, the system has has been a significant boon, in my opinion.”

    Max·8:38

  • “I think this team can execute its way there. But I think the real opportunity is actually on the spot side where you haven't really seen any performant on chain order books be able to take even on chain volumes from AMMs.”

    Monk·19:08

  • “I think that no matter what valuation metric you ascribe to or how you wanna value hype, it's pretty much all bullish.”

    Monk·1:11:25

Bearish:

• $CEFI - There's growing dissatisfaction with the high costs associated with listing on centralized exchanges, potentially leading to a shift away from these platforms.

  • “I don't know if teams are tired enough of getting rinsed for, like, a $5,000,000 cash fee and then 5% of their supply or something.”

    Omnia·22:24