{"id":41158,"date":"2025-08-08T12:02:03","date_gmt":"2025-08-08T12:02:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41158"},"modified":"2025-08-08T12:02:03","modified_gmt":"2025-08-08T12:02:03","slug":"is-hyperliquid-hype-crypto-undervalued-dex-generates-record-revenue","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41158","title":{"rendered":"Is Hyperliquid HYPE Crypto Undervalued? DEX Generates Record Revenue"},"content":{"rendered":"
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In DeFi, Hyperliquid stands out due to its innovation. Coingecko data shows that HYPE, its governance token, is the most valuable DEX coin, with a market cap <\/span>more than twice<\/span><\/a> that of Uniswap (UNI). Currently, Hyperliquid has a market cap of $13.4 billion, and HYPE trading generated over $244 million in volume in the past 24 hours. While volume fluctuates, interest in the HYPE token suggests that Hyperliquid is closely monitored and may become one of the <\/span>next cryptos to explode<\/span><\/a> if it continues gaining market share.<\/span><\/p>\n

DISCOVER: <\/span>Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n

Hyperliquid Generates Record Revenue<\/span><\/h2>\n

On X, one analyst notes that Hyperliquid, the decentralized perpetual crypto exchange, could be one of crypto\u2019s most compelling stories. In the past month alone, the analyst observes that Hyperliquid generated over $90 million in fee revenue.<\/span><\/p>\n

\"HYPE<\/p>\n

(Source: Holosas on X<\/a>)<\/strong><\/p>\n

At this level, Hyperliquid outperformed Ethereum, Pump.fun, Ethena, Base, Ondo, and even Solana, which collectively generated just $88 million in the past month. For this reason, the analyst is convinced that HYPE is likely grossly undervalued at the current $13.4 billion market cap.<\/span><\/p>\n

If extrapolated, and the current fee revenue remains, Hyperliquid could easily generate over $1 billion in fees annually, positioning it as a leader among DeFi protocols. According to DeFiLlama, Hyperliquid generated over $19 million in fees in the past week. Cumulatively, the protocol has generated over $561 million in fees.\"HYPE<\/span><\/p>\n

(<\/span>Source: DefiLlama<\/span><\/a>)<\/span><\/strong><\/p>\n

In terms of trading volume, the decentralized perpetual exchange processed over $11.7 billion in the past 30 days, $2.1 billion in the last week, and over $296 million in the past day. At this level, Hyperliquid posted more than Gemini, which recorded nearly $237 million in the past day.<\/span><\/p>\n

\"HYPE<\/p>\n

(<\/span>Source: Coingecko Exchanges<\/span><\/a>)<\/span><\/strong><\/p>\n

This stellar performance by Hyperliquid is remarkable. It explains why HYPE, in the eyes of optimistic analysts, is just beginning its ascent. At spot rates, HYPE8 \u25b27.22%<\/span><\/span> is nearly 18% below its all-time high of around $50.<\/span><\/p>\n

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\n
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Hyperliquid<\/div>\n
Price<\/div>\n
Market Cap<\/div>\n<\/div>\n
\n
HYPE8<\/div>\n
<\/div>\n
$13.58B<\/div>\n<\/div>\n<\/div>\n<\/div>\n
24h<\/span>7d<\/span>30d<\/span>1y<\/span>All time<\/span><\/div>\n<\/div>\n

<\/canvas><\/div>\n

<\/span><\/p>\n

Despite the drop in late July, the uptrend remains intact. HYPE crypto has found support at around $36. If buyers break above $40, there is potential for more growth, building on gains from much of 2025. Since listing on major exchanges in late 2024, HYPE has soared from lows of around $8 to all-time highs of $50, before cooling to approximately $40.<\/span><\/p>\n

DISCOVER: <\/span>Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/span><\/a><\/strong><\/p>\n

Is HYPE Crypto Undervalued?<\/span><\/h2>\n

Traders anticipate a supply shock in HYPE. Hyperliquid uses 97% of its revenue to buy back HYPE from the secondary market. At an annualized rate of $1.1 billion, the decentralized perpetual DEX will use over $950 million to acquire more HYPE, reducing the circulating supply and creating sustained upward pressure. <\/span><\/p>\n

Currently, the Hyperliquid Assistance Fund has amassed over $1.1 billion worth of HYPE through buybacks alone.<\/span><\/p>\n

\"HYPE<\/p>\n

(<\/span>Source: Hypurrscan<\/span><\/a>)<\/span><\/strong><\/p>\n

At the current buyback rate, one analyst projects that this aggressive mechanism could see the DEX buy back its entire circulating supply<\/a> within four years.<\/span><\/p>\n

This aggressive buyback mechanism is unprecedented and far surpasses that of Binance, which aims to eventually <\/span>reduce<\/span><\/a> its circulating supply from 200 million to 100 million BNB.<\/span><\/p>\n

DISCOVER: <\/span>Top Solana Meme Coins to Buy in 2025<\/span><\/a><\/strong><\/p>\n

Should Hyperliquid further grow its user base and increase its perpetual DEX market share, the exchange may buy back HYPE faster than retailers expect. According to <\/span>Artemis<\/span><\/a>, Hyperliquid controlled over 75% of all perpetual DEX trading volume as of July 2025. During that time, despite Bitcoin reaching new all-time highs in mid-July, HYPE posted solid gains, adding over 50% compared to Bitcoin\u2019s 13%.<\/span><\/p>\n

Analysts say<\/a> the strong performance, record revenue, and buyback program align with the interests of traders and liquidity providers. Together, they create a sustainable and resilient model compared to traditional competitors like Robinhood, making it attractive for investors.<\/span><\/p>\n

Compared to public crypto companies such as Robinhood or Coinbase, Hyperliquid is lean. The team\u2019s token allocation, per <\/span>Messar<\/span><\/a>i, is less than 25% of the total supply. These tokens are locked until 2027\u20132028, with only 34% of the total supply of 1 billion in circulation. Messari analysts say this structure gives Hyperliquid an \u201cinfinite\u201d fully diluted valuation (FDV), unlike public companies serving similar clients.<\/span><\/p>\n

DISCOVER: <\/span>9+ Best High-Risk, High-Reward Crypto to Buy in 2025<\/span><\/a><\/strong><\/p>\n

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Is Hyperliquid HYPE Crypto Undervalued? DEX Generating Record Revenue<\/h2>\n