Hyperliquid (HYPE) Undervalued Despite High Revenues
The Most Important Points at a Glance
– Hyperliquid (HYPE) is considered undervalued compared to Ethereum (ETH) and Solana (SOL).
– The decentralized derivatives exchange holds over 60% market share.
– Despite high revenues and a strong market position, the price has dropped by 50%.
– Analysts see long-term potential through buyback programs and market growth.
Hyperliquid: An Underrated Blockchain Project?
According to Ryan Watkins, a partner at Syncracy Capital, Hyperliquid (HYPE) may currently be undervalued. The platform is a decentralized derivatives exchange (DEX) and Layer-1 blockchain with a market share of over 60%. Despite this dominant position, the HYPE token is currently trading at a lower multiple compared to other leading blockchains.
Strong Revenues but Falling Price
Looking at revenues, Hyperliquid is among the three most profitable blockchains. With annual fees of $577 million, the platform ranks just above Tron (TRX). However, since December 2024, the HYPE token has lost about 50% of its value and was recently trading at $17.
Growth Potential Through Buyback Programs
Watkins highlights that the platform’s high revenues allow it to conduct aggressive buyback programs. These are intended to reduce selling pressure and create stable demand for HYPE. Particularly in the perpetual contracts market, Hyperliquid has seen strong growth since late 2024, positioning itself as an alternative to centralized exchanges like Binance.
Market Development and Possible Scenarios
Technical indicators show that HYPE is currently under strong selling pressure. The Relative Strength Index (RSI) has been below the neutral range since February, indicating an oversold situation. If the overall market continues to weaken, the price could drop to $12–$14. However, a rise above $20 could signal a trend reversal.
Our Assessment
Hyperliquid offers a strong market position and high revenues, which could support positive long-term development. In the short term, however, the price remains volatile. Investors should closely monitor market trends and account for potential setbacks.
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Sources
– Syncracy Capital
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