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Found something really interesting about @variational_io potential valuation
Both $LIT and $HYPE are trading at almost the same P/E on both MC and FDV if you annualize last week revenue
Hyperliquid :12M × 52 = 624M annualized revenue
= 24,4× MC / 92,3× FDV
Lighter : 455k × 52 = 23,6M annualized revenue
≈ 24× MC / 93× FDV
Variational is currently generating around 700k/week, or 36.4M annualized
At the same multiples that would imply a valuation of $880M market cap or $3.3B FDV
If 30% of the supply is airdropped that's around $99 per point
I already know what you gonna say: "farmers will leave these numbers aren't real blablabla"
Maybe, but this doesn't include upcoming catalysts like Swaps, public API, OLP opening or Variational Pro
Math is mathing bro