$HYPE Valuation -> $100+ is not a problem $12 billion market capitalization 7.1% of which is held by AF (this part will never enter the market) = $11 billion in market capitalization Since the introduction of the new fee structure a month ago, HL has generated an average daily revenue of $2.4 million (excluding HLP and HyperEVM) On an annualized basis, revenue is approximately $900 million This means that $HYPE is trading at around 12x earnings (which is a historically low even when compared to the average of the S&P 500) The current average price-to-earnings ratio of the S&P 500 is about 28x, which means that the fair value of HYPE is about $84 The current average price-to-earnings ratio of the top 7 tech stocks is around 35x, which means that the fair value of HYPE is about $105 Palantir's current price-to-earnings ratio is around 600x, which means that the fair value of HYPE is about $1,800 And this valuation only takes into account HyperCore and assumes no growth. The $HYPE is undervalued in terms of perpetual contracts decentralized exchanges alone, and it also has a full L1 blockchain that hasn't been factored into the token price yet.