Ansem: Valuation does not depend solely on the purchase of a token, and the team trusts the premium or is more critical

On 17 July, encryption dealer Ansem stated that repurchases did not necessarily support the valuation of tokens. In the case of Hyperliquid and Pumpfun, for example, annualized income of approximately $800 million and $440 million respectively, both of which continued to buy off tokens with partial profit, while the total diluted valuation of HIPE and PUMP was approximately $65 billion and $1.4 billion, respectively. Ansem believes that the difference is mainly due to team implementation and community trust. Hyperliquid is less over-committed and distributes its benefits to its core users on an ongoing basis; while Pumpfun has a high income, previously promised user drops have not materialized, undermining its “trust premium”。