Bitwise Says Hyperliquid's HYPE Is Crypto's Most Undervalued Token — Even After a 77% Rally. Here's Why
(135 days ago) · 1 source · Summarized by CryptoBipto
Asset manager Bitwise has labeled Hyperliquid's HYPE token as the 'most mispriced' cryptocurrency in the market, despite the token already surging 77% year-to-date. The firm believes the token's current valuation still doesn't reflect the protocol's fundamentals and growth trajectory.
WHY IT MATTERS
Imagine a stock analyst at a major Wall Street firm publicly saying a company's shares are way too cheap — that tends to get people's attention. That's essentially what Bitwise, a well-known crypto investment firm, just did for the HYPE token. Hyperliquid is a decentralized exchange — think of it like a stock exchange, but run by code instead of a company — where people trade crypto derivatives. Bitwise believes the token powering this exchange is worth much more than its current price, even though it's already up 77% this year. For newcomers, this is a good example of how institutional analysis is starting to extend beyond Bitcoin and Ethereum into newer, more specialized crypto projects.
Read the full analysis with a CryptoBipto membership
Members can read the full analysis of every story, not just the headline.
Get startedSOURCES
- Source
RELATED
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.
- What is DeFi, and how does decentralized finance work?Decentralized finance explained: liquidity pools, yield farming, impermanent loss, DAOs and governance tokens, each with its own definition page.
- How do you buy cryptocurrency safely?How crypto exchanges, verification, on-ramps and order types work, so you understand each step of a first purchase before you make one.
- What is cryptocurrency, and how does it work?A simple explanation of cryptocurrency, blockchains, coins, tokens, mining and staking, with a definition page for every term used.