HyperVision v2

Hyperliquid Research Terminal

Sources live
Composite Valuation Signal

Expensive

Current HYPE$60.26
Composite Value$28.64
Discount / Premium-110.4%
Revenue Multiple Value$27.2840% weight
Buyback Value$27.2840% weight
DCF Value$34.1020% weight
Confidence Engine

Low Confidence

14 observations18/100

Low confidence from 14 stored observations with 1 data quality penalty.

-12 Latest snapshot is older than 36 hours
Annualized Revenue$455.5M$1.4M 24h
Annual Buybacks$455.5M$1.4M 24h
Open Interest$7.8B177 active markets
24h Perp Volume$1.6B$176.8M HYPE volume
Overall GradeC58.5/100
AQAv2 Est. Revenue$173.1M$474.3K daily
Valuation Model Stack

Independent Fair Values

Revenue Multiple Value$27.28
Buyback Value$27.28
DCF Value$34.10
Composite Value$28.64
Current Price$60.26
Discount / Premium-110.4%
Capital Allocation Metrics

Revenue And Buyback Efficiency

Revenue Yieldn/a
Buyback Yieldn/a
Payback Periodn/ax
Revenue / Open Interest5.8%
Revenue / Stablecoin $7.3%
HYPE Retirement Engine

Supply Absorption

Annual HYPE Purchased7.6M
Supply Retired Per Year2.3%
Days To Retire 1%161
5 Year Remaining Supply88.7%
10 Year Remaining Supply77.4%
15 Year Remaining Supply66.1%
Growth Engine

No Fabricated Lookbacks

Revenue
7d-13.8%
30d-26.9%
90dn/a
Buybacks
7d-13.8%
30d-26.9%
Stablecoins
7d+3.7%
30d-3.2%
Open Interest
7d+9.1%
30d+24.9%
Volume
7d-24.7%
30d-78.5%
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 capn/an/a20%n/a
Buyback Yield Scoreannual buybacks / network market capn/an/a25%n/a
Revenue Multiple Scorenetwork market cap / annualized revenue; lower is bettern/an/a20%n/a
Activity Score24h perp volume / network market capn/an/a15%n/a
Growth Score30d annualized revenue growth when sufficient history exists-26.9%020%0
Exchange Comparison

Where Hyperliquid Sits

ExchangeRev YieldMultipleGrowthBuyback
Hyperliquidn/an/an/an/a
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$3.89
Base75% margin$292.0M$13.12
Bull80% margin$600.0M$28.75
Investment Thesis

Metric-Gated Cases

Bull CaseNo confirmed bull-case growth or capital-return triggers are available from current measurable data.
Base CaseComposite model shows a premium of 110.4%.Low confidence based on 14 stored observations.
Bear CaseRevenue growth is negative at -26.9% over 30 days.Buybacks are declining at -26.9% over 30 days.Stablecoin market cap is contracting at -3.2% over 30 days.Perp volume is declining at -78.5% over 30 days.
Fundamental Health

Grade Stack

Revenue HealthD41.5/100
Buyback HealthC+60.6/100
GrowthA89.9/100
ValuationD53.3/100
LiquidityD45/100
Overall GradeC58.5/100
Fundamental Signals

Research Signals

⚠ Revenue decelerating30d revenue growth is -26.9%
⚠ Buybacks declining30d buyback growth is -26.9%
⚠ Stablecoin base contracting30d stablecoin growth is -3.2%
How Fair Value Is Calculated
Revenue Multiple ValueAnnualized Revenue x Revenue Multiple / Circulating Supply
Annualized Revenue: $455,450,128.6Revenue Multiple: 20xCirculating Supply: 333,928,180
Revenue Multiple Value: $27.28
Buyback ValueAnnual Buybacks / Target Buyback Yield / Circulating Supply
Annual Buybacks: $455,450,128.6Target Buyback Yield: 5%Circulating Supply: 333,928,180
Buyback Value: $27.28
DCF ValueAnnualized Revenue x (1 + Growth Rate) x Terminal Multiple / (1 + Discount Rate) / Circulating Supply
Annualized Revenue: $455,450,128.6Growth Rate: 40%Terminal Multiple: 20xDiscount Rate: 12%Circulating Supply: 333,928,180
DCF Value: $34.10
Composite ValueRevenue Multiple Value x 40% + Buyback Value x 40% + DCF Value x 20%
Revenue Multiple Value (40%): $27.28Buyback Value (40%): $27.28DCF Value (20%): $34.10
Composite Value: $28.64
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 Jul 19, 1:58 AM. Stored in SQLite via Prisma.