As the CEO of a company built around creating value, accumulating HYPE, and generating revenue from the cryptocurrency, Hyperion DeFi's Hyunsu Jung has a vested interest in the token's success.
But when asked why he believes Hyperliquid's native asset (HYPE) can continue climbing, Jung argued investors are still underestimating the decentralized exchange's transformation into a broader blockchain ecosystem.
"If you compare it to a CME or IBKR or Robinhood, it's starting to get into that range if you consider the fully diluted valuation," Jung told The Block. "Hyperliquid is moving beyond that."
Jung compared Hyperliquid's fully diluted valuation, which approached $75 billion before HYPE's recent pullback, to the market capitalizations of exchange stocks CME Group, Interactive Brokers Group, and Robinhood.
HYPE recently hit an all-time high of over $76 amid a series of bullish catalysts, including strong inflows into newly launched exchange-traded funds tracking the token, robust revenue generation, and Hyperliquid's aggressive buyback program. HYPE was down 10% on Thursday, changing hands at $67.14 as of 1:55 p.m. ET, according to The Block Price Page.
