looks cheap to me - buy buy buy
Hyperliquid hit $1.1B annualized revenue growing 40% MoM in July '25
We define revenue as fees that goes to the Assistance Funds used for buybacks + gas fees paid on HypeEVM.
As crypto markets and $HYPE price contracts, Hyperliquid revenue multiple is now 11.2x MC/revenue the lowest since March / April '25 when the low was 7.2x
Comparatively
- Best in class fintech trade for 7.2x growing ~32% YoY
- $COIN trades at 13.4x revenue / 11.6x GP
- $HOOD trades at 22.3x revenue / 23.4x GP
- $CRCL trades at 18.4x revenue / 42.6x GP



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