HyperVision v2

Hyperliquid Research Terminal

Sources live
Composite Valuation Signal

Slightly cheap

Current HYPE$77.93
Composite Value$95.33
Discount / Premium+18.3%
Revenue Multiple Value$90.7940% weight
Buyback Value$90.7940% weight
DCF Value$113.4920% weight
Confidence Engine

Low Confidence

16 observations18/100

Low confidence from 16 stored observations with 1 data quality penalty.

-12 Latest snapshot is older than 36 hours
Annualized Revenue$1.0B$2.4M 24h
Annual Buybacks$1.0B$2.4M 24h
Open Interest$9.7B177 active markets
24h Perp Volume$10.5B$884.7M HYPE volume
Overall GradeA+91.2/100
AQAv2 Est. Revenue$1.2B$3.2M daily
Valuation Model Stack

Independent Fair Values

Revenue Multiple Value$90.79
Buyback Value$90.79
DCF Value$113.49
Composite Value$95.33
Current Price$77.93
Discount / Premium+18.3%
Capital Allocation Metrics

Revenue And Buyback Efficiency

Revenue Yield5.8%
Buyback Yield5.8%
Payback Period17.2x
Revenue / Open Interest10.4%
Revenue / Stablecoin $14.6%
HYPE Retirement Engine

Supply Absorption

Annual HYPE Purchased12.9M
Supply Retired Per Year5.8%
Days To Retire 1%63
5 Year Remaining Supply70.9%
10 Year Remaining Supply41.7%
15 Year Remaining Supply12.6%
Growth Engine

No Fabricated Lookbacks

Revenue
7d+204.6%
30d+121.3%
90dn/a
Buybacks
7d+204.6%
30d+121.3%
Stablecoins
7d+11.9%
30d+10.8%
Open Interest
7d+37.4%
30d+24%
Volume
7d+342.1%
30d+564.4%
Time Series

Price, Revenue, And Liquidity

Valuation Models

Independent Fair Values

Historical Trend Charts

Revenue, Buybacks, Adoption, And Yield

HYPE Retirement Engine

Projected Supply Decay

AQAv2 Distribution

Incremental Fair Value Range

Forecast Attribution Engine

Deterministic Factor Stack

FactorRawScoreWeightContribution
Stablecoin Liquidity Scorestablecoin market cap / network market cap40%10020%20
Buyback Yield Scoreannual buybacks / network market cap5.8%10025%25
Revenue Multiple Scorenetwork market cap / annualized revenue; lower is better17.2x8120%16.2
Activity Score24h perp volume / network market cap60.7%10015%15
Growth Score30d annualized revenue growth when sufficient history exists121.3%10020%20
Exchange Comparison

Where Hyperliquid Sits

ExchangeRev YieldMultipleGrowthBuyback
Hyperliquid5.8%17.2xn/a5.8%
Coinbase3.2%31.3xn/an/a
CME4.1%24.4xn/an/a
Nasdaq2.8%35.7xn/an/a
Intercontinental Exchange3.3%30.3xn/an/a
AQAv2 Valuation Model

Incremental Network Value

Bear65% margin$100.0M$5.86
Base75% margin$292.0M$19.73
Bull80% margin$600.0M$43.24
Investment Thesis

Metric-Gated Cases

Bull CaseRevenue growth is accelerating at 121.3% over 30 days.Buyback yield is above 5% at 5.8%.Stablecoin base is expanding at 10.8% over 30 days.Revenue yield is above 5% at 5.8%.
Base CaseCurrent valuation is 17.2x annualized revenue.Composite model shows a discount of 18.3%.Low confidence based on 16 stored observations.
Bear CaseNo confirmed bear-case contraction triggers are available from current measurable data.
Fundamental Health

Grade Stack

Revenue HealthA-84.3/100
Buyback HealthA+93.9/100
GrowthA+100/100
ValuationA+90.2/100
LiquidityA87.8/100
Overall GradeA+91.2/100
Fundamental Signals

Research Signals

✓ Revenue accelerating30d revenue growth is 121.3%
✓ Buyback velocity increasing30d buyback growth is 121.3%
✓ Stablecoin base expanding30d stablecoin growth is 10.8%
✓ Revenue yield above benchmarkRevenue yield is 5.8%
How Fair Value Is Calculated
Revenue Multiple ValueAnnualized Revenue x Revenue Multiple / Circulating Supply
Annualized Revenue: $1,007,904,899.3Revenue Multiple: 20xCirculating Supply: 222,030,280.4
Revenue Multiple Value: $90.79
Buyback ValueAnnual Buybacks / Target Buyback Yield / Circulating Supply
Annual Buybacks: $1,007,904,899.3Target Buyback Yield: 5%Circulating Supply: 222,030,280.4
Buyback Value: $90.79
DCF ValueAnnualized Revenue x (1 + Growth Rate) x Terminal Multiple / (1 + Discount Rate) / Circulating Supply
Annualized Revenue: $1,007,904,899.3Growth Rate: 40%Terminal Multiple: 20xDiscount Rate: 12%Circulating Supply: 222,030,280.4
DCF Value: $113.49
Composite ValueRevenue Multiple Value x 40% + Buyback Value x 40% + DCF Value x 20%
Revenue Multiple Value (40%): $90.79Buyback Value (40%): $90.79DCF Value (20%): $113.49
Composite Value: $95.33
Data Quality Warnings

Model Boundaries

  • Some growth metrics are unavailable because local history does not cover the required lookback period.
  • Latest snapshot is older than 36 hours
  • Forecasts are valuation estimates, not investment advice or guaranteed outcomes.
Source Health

Data Integrity

hyperliquidContextslive
hyperliquidMidslive
hypePricelive
protocollive
revenuelive
feeslive
stablecoinslive

Captured Aug 24, 10:45 PM. Stored in SQLite via Prisma.