Cantor Fitzgerald Projects HYPE to Exceed $200B Market Capitalization with $5B Revenue Trajectory

Valuation Framework for Hyperliquid: Cantor Fitzgerald outlined a valuation framework suggesting that Hyperliquid (HYPE) could achieve a market capitalization exceeding $200 billion based on a 50x multiple of a projected $5 billion annual revenue.

Coverage Initiation on PURR and RION: The firm initiated coverage on PURR and Hyperion DeFi (RION) with an “overweight” rating, indicating expectations for both assets to outperform sector benchmarks due to improving market conditions and user growth trends.

Revenue Modeling and Market Sensitivity: Cantor's analysis includes various revenue scenarios for HYPE, emphasizing that actual outcomes will depend on execution, user expansion, and market conditions, while also comparing HYPE's potential with peers in similar categories.

Monitoring Market Activity: The report stresses the importance of monitoring HYPE, PURR, and RION as the market evolves, highlighting the distinction between networks showing real activity and those driven by speculation.