Hyperion DeFi CEO Hyunsu Jung argues Hyperliquid's native asset HYPE can continue climbing as investors underestimate the decentralized exchange's transformation into a broader blockchain ecosystem. HYPE recently hit an all-time high over $76 before pulling back 10% on Thursday to $67.14 as of 1:55 p.m. ET, according to The Block Price Page. Jung told The Block that Hyperliquid is moving beyond comparison to traditional exchanges like CME Group, Interactive Brokers Group, and Robinhood, despite its fully diluted valuation approaching $75 billion before the recent pullback. HYPE has climbed over 150% year-to-date compared to bitcoin, which is down nearly 30% in the same period, driven by strong inflows into newly launched exchange-traded funds tracking the token, robust revenue generation, and Hyperliquid's aggressive buyback program.
HYPE Records Strong Performance Amid Exchange Growth
HYPE hit an all-time high over $76 amid bullish catalysts including strong inflows into newly launched exchange-traded funds tracking the token, robust revenue generation, and Hyperliquid's aggressive buyback program. The token was down 10% on Thursday, changing hands at $67.14 as of 1:55 p.m. ET, according to The Block Price Page. HYPE is up over 150% year-to-date, compared to bitcoin, which is down nearly 30% in the same period. Citrini Research pointed to the exchange's ability to generate significant cash flow while funding a large-scale token buyback program. Hyperliquid's HIP-3 perp for SpaceX shares recorded $1.4 billion in volume on its IPO debut day, as the pair accounted for 30% of all HIP-3 volume that session. Despite the exchange executing a monthly token unlock, HYPE's price has continued to climb in recent months.
Jung Compares Hyperliquid to Layer 1 Blockchain Ecosystems
"If you compare it to a CME or IBKR or Robinhood, it's starting to get into that range if you consider the fully diluted valuation," Jung told The Block. "Hyperliquid is moving beyond that." Jung compared Hyperliquid's fully diluted valuation, which approached $75 billion before HYPE's recent pullback, to the market capitalizations of exchange stocks CME Group, Interactive Brokers Group, and Robinhood. Jung pointed to Ethereum, where applications such as Uniswap, Aave, and Lido generate millions of dollars in daily revenue. "Most Layer 1 blockchains like Ethereum, Solana, XRP, even Cardano, they have that L1 premium," Jung said. "We expect the same thing to happen in Hyperliquid."
Hyperion Generates Revenue Through HYPE Holdings
Hyperion holds two million HYPE tokens. The company began earlier this year providing collateral for the writing and settling of options so it can earn revenue on premiums and fees. Hyperion also earns revenue from staking its HYPE tokens. As the CEO of a company built around creating value, accumulating HYPE, and generating revenue from the cryptocurrency, Jung has a vested interest in the token's success.
Hyperliquid Foundation Established Policy Center in February
In February, Hyperliquid Foundation helped create a policy center tasked with seeking "meaningful impact in favor of clear regulations for decentralized finance." Jung referenced the Clarity Act in discussing potential future participation by registered investment advisers, insurance funds, and pension funds in the Hyperliquid ecosystem.
FAQ
What price did HYPE reach on Thursday?
HYPE was down 10% on Thursday, changing hands at $67.14 as of 1:55 p.m. ET, according to The Block Price Page, after recently hitting an all-time high over $76.
How much volume did Hyperliquid's SpaceX HIP-3 perp record on its IPO debut day?
Hyperliquid's HIP-3 perp for SpaceX shares recorded $1.4 billion in volume on its IPO debut day, accounting for 30% of all HIP-3 volume that session.
What did Hyperliquid Foundation do in February?
In February, Hyperliquid Foundation helped create a policy center tasked with seeking "meaningful impact in favor of clear regulations for decentralized finance."
