《Hyperliquid Valuation Breakdown: Is the Pricing Too High Amid High Growth Expectations?》 (Author: Donovan; Translated by: AididiaoJP, Foresight News) uses reverse DCF and bottom-up model analysis to point out that at a market cap of approximately $9 billion, HYPE's current price already reflects extremely high growth expectations: requiring over 100% annual compound growth for several years, reaching revenue in the tens of billions, and maintaining a leading share in the highly competitive perpetual contracts market. While Hyperliquid boasts high efficiency and strong product capabilities, the entry of CEXs puts pressure on both profit margins and market share. Overall, the current valuation has largely priced in most of the positives, leaving limited margin of safety, with investment returns more reliant on optimistic scenarios playing out. Read the full article: https://(wublock123.com)/articles/article-58810