On HYPE Overvaluation and Undervaluation Short-term overvaluation: HIP-4 working on prediction markets is a strategic move, but even if it beats Polymarket, the trading volume and revenue it brings account for a very small proportion of current perpetuals, less than 10%. The current rise is heavily driven by FOMO and sentiment. Long-term undervaluation: The formation of on-chain Wall Street, with contracts, spot trading, prediction markets, and lending—all on-chain and fully integrated. The future overlord's biggest challenge will come from regulation.