Grayscale Research says Hyperliquid (HYPE) may be undervalued against fintech equities. The asset manager argues that the token can be valued based on cash flows, like a stock. On that basis, HYPE looks cheap. Grayscale builds its case on a 1 billion dollar Hyperliquid earnings assumption. The findings were published in a note on Tuesday by Grayscale’s Head of Research.
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