Multicoin Says $HYPE Could Hit $319 as Hyperliquid Moves Beyond Perps

Hyperliquid's HYPE token (CRYPTO: $HYPE) is drawing an institutional valuation call after Multicoin said the market is still pricing the network too much like a fast-growing perpetual futures exchange and not enough like a broader onchain financial venue.

The investment firm said HYPE could reach about $319 by 2028 in its base case, implying more than 400% upside from the roughly $63 level cited in its report. That forecast assumes Hyperliquid can generate about $8 billion in annual earnings by 2028 and trade at a 20-times earnings multiple.

Multicoin disclosed that it has been buying HYPE aggressively since February, calling the token one of the largest positions in its liquid hedge fund. It argues Hyperliquid's market value still underestimates how quickly the platform is expanding from crypto-native perps into a wider exchange stack.

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Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/crypto/articles/multicoin-says-hype-could-hit-033900862.html)