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The market values Hyperliquid as if it belongs in the same conversation as the biggest companies on earth.
The numbers below show how much investors pay for one dollar of annual revenue for each company:
→ @HyperliquidX: 19.0x
→ @nvidia: 15.5x
→ @Mastercard: 13.1x
→ @Visa: 12.4x
→ @Apple: 9.6x
→ @Microsoft: 9.0x
→ @Meta: 6.6x
→ @amazon: 3.6x
Hyperliquid trades at a higher revenue multiple than Nvidia and Apple, while its market cap is hundreds of times smaller.
For reference:
→ NVIDIA market cap: ~$5T
→ Hyperliquid: ~$12.8B (nearly 400x smaller)
Also, the rest of the companies on the list have hundreds of thousands of employees and decades of building behind them.
Hyperliquid got there with no outside investors and only a fraction of the employees.
If they keep executing at this pace, the valuation gap won't look crazy for long. We're clearly looking at a giant in the making.