What is HYPE's current revenue multiple?
At an official spot mark of 81.711, HYPE's reported circulating supply produces a calculated token value of $24.41B. The latest 30 complete DeFiLlama revenue days imply a simple annual pace of $567.09M, equal to 43x of circulating token value to revenue pace.
HYPE does not represent equity ownership or a contractual claim on Hyperliquid revenue. This ratio is research context, not a price target.
What does HYPE trade at relative to current revenue?
Choose a complete revenue window and supply basis. Edit the live inputs to test a scenario; HypeBasis keeps every assumption visible.
- Calculated token value
- $24.41B
- Annualized revenue pace
- $567.09M
- Value / revenue pace
- 43.0x
- Revenue pace / token value
- 2.32%
circulating supply x scenario price
30-day daily average x 365
Token value divided by annualized revenue pace
The reciprocal ratio, not a distributable yield
This is a token-value-to-revenue-pace comparison. HYPE does not represent equity ownership or a claim on protocol revenue, and DeFiLlama revenue does not equal Assistance Fund purchases.
How does the HYPE valuation calculation work?
The workbench joins two source families only after each required input passes its own coverage check.
- 01
Read price and supply
Use the official HYPE/USDC spot mark and the API's circulating-supply field. Maximum supply stays a separate basis.
- 02
Build a complete pace
Exclude the current UTC day, require every day in the selected window, average the observed revenue, then multiply by 365.
- 03
Compare like units
Divide calculated token value by the annualized revenue pace. The reciprocal shows revenue pace as a percentage of token value.
Is this HYPE's P/E ratio or buyback yield?
No. A price-to-earnings ratio assumes an equity claim and defined earnings. HYPE is a network token. This page compares a calculated token value with DeFiLlama's protocol-side revenue definition.
The reciprocal percentage is also not an official buyback yield. Hyperliquid's fee documentation describes the Assistance Fund mechanics, but it does not publish a dollar-for-dollar allocation that lets this site equate DeFiLlama revenue with HYPE purchases.
The maximum-supply view is not a forecast of the release schedule. Contributor releases, grants, staking emissions, reserve flows, and future activity may alter supply or revenue independently of the selected scenario.
Use the ratio as context
A lower multiple or higher reciprocal does not make HYPE cheap, safe, or likely to rise. Revenue may fall, token supply may expand or contract, and tokenholder economics may diverge from protocol revenue. Check the underlying revenue series and supply ledger before comparing this snapshot with any published valuation thesis.
Inspect the revenue and burn evidenceOpen Hyperliquid with the referral link
Use the valuation context as research, then review eligibility, fees, and trading risk before acting.
Continue the HYPE research loop
Hyperliquid revenue and HYPE burn
Inspect daily revenue estimates, fee coverage, and official Assistance Fund balance captures.
HYPE supply and tokenomics
Separate circulating, total, maximum, delegated, and burn-classified HYPE.
HYPE unlock evidence
Check official current supply and observed changes without treating modeled dates as protocol commitments.
HYPE staking calculator
Model gross and commission-adjusted rewards from current validator stake.
HYPE market brief
Check price, open interest, funding, execution, TWAPs, and public-position context.
How to read this data
- Where this comes from
- Official Hyperliquid spot price and supply, joined with separately labeled DeFiLlama revenue estimates.
- How fresh it is
- Inputs fetched Aug 26, 2026, 5:08 AM UTC. Revenue windows exclude the current UTC day and require consecutive coverage.
- Last reviewed
- 2026-08-25
- How to use it
- A valuation ratio is research context, not equity ownership, distributable yield, a price target, or financial advice.
Sources
- Hyperliquid Docs: Spot info endpointAccessed 2026-08-24Supports: Public spot token metadata, asset-context price and supply fields, tokenDetails maximum-supply definitions, and spotClearinghouseState balances.
- Hyperliquid Docs: FeesAccessed 2026-08-25Supports: Rolling 14-day volume tiers, perps and spot fee schedules, strict HYPE staking-tier thresholds and discounts, referral fee formula and limits, staking-account linking risks, fee-model caveats, fee distribution to HLP, the assistance fund, and deployers, the assistance fund system address, and burn recognition of assistance-fund HYPE.
- DeFiLlama: Hyperliquid fees and revenueAccessed 2026-08-25Supports: Third-party daily, 7-day, 30-day, and cumulative fee and revenue estimates for Hyperliquid, with DeFiLlama's adapter methodology. Complete daily revenue observations support the HYPE valuation pace comparison.