Hyperliquid-linked ETFs have recorded more than $13 million in net outflows in July, putting them on track for their first negative month after attracting approximately $280 million since inception. The HYPE token has lost more than 13% in July, falling to around $54, roughly 30% below its mid-June record high of $76. Grayscale nonetheless considers the token undervalued, citing $1 billion in cumulative protocol revenue and estimated earnings per token of $3.25 to $3.75, trading at 15 to 18 times projected earnings versus 35 times for Coinbase and 40 times for Circle. Traditional-asset contracts generated 52% of weekly volume, or $25.1 billion out of $48.2 billion total, marking the first time these markets exceeded all other asset categories on the platform.
Source: Read the original article
