Grayscale: HYPE is still undervalued, with a forward P/E ratio of around 15–18x

PANews July 29, 2024: Grayscale said in a post on X that Hyperliquid (HYPE)’s forward price-to-earnings ratio is about 15 to 18 times. Grayscale noted that Hyperliquid has real cash flows and can be valued like a stock, but based on earnings per token rather than earnings per share. On this basis, compared with fintech peers such as Coinbase (COIN), Robinhood (HOOD), and Circle (CRCL), HYPE still looks cheap.
HYPE0.18%
COIN0.20%
HOOD-3.01%
CRCL-2.10%
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