Greyscale Review: Hyperliquid (HYPE) is still undervalued compared to the Financial Technology Unit

In a special study published on Tuesday by Grayscale Research, the original trade agreement Hyperliquid (coin HYPE) was valued and concluded that the current price of HYPE was still undervalued, as measured by the pricing standards of the Financial Science and Technology Unit. The Grayscale Research Manager, Zach Pandl, uses the “per dollar” valuation model to measure HIPE by analogy with the pricing logic of EPS per share of the stock. The report assumes that, as a result of the recovery in the volume of the encrypted trade, which added to the growth of the stable currency reserve in the framework of the Hyperliquid Unified Quoted Assets (AQA), Hyperliquid would have earned about $1 billion in 2027, an increase of about 20 per cent over 2025. Supply-end measurements indicate that the HYPE circulation supply is expected to reach between 270 million and 31 million at the end of 2027, corresponding to an expected gain of between $3.25 and $3.75 per currency. At current currency prices of about US$ 54, the forward earnings range is about 15 to 18 times, significantly lower than the valuation hub of traditional financial technology companies. In terms of price performance, this valuation is published at the HYPE stress phase. The cumulative decline of the HYPE over the past month was over 13 per cent, which contrasted with the trend of large-scale mainstream assets, which had been growing at the time of submission, at about $54, or 29 per cent higher than the historical high of mid-June. At the same time, the report points to two main core risks: lower-than-anticipated growth in network income and faster-than-forecast increases in the supply of tokens, all of which may lead to a downward revision of the valuation logic。