Arete Capital (@Crypto_McKenna) just released their 2026 $HYPE valuation outlook: 1. Revenue - Q3’25 annualized: $1.13B - Growth drivers: HyperCore (+$415M), Builder Codes (+$154M), Aligned Stablecoins (+$88M), HIP-3 markets (+$80M) -> EOY ’26 annualized revenue: $1.87B (+65%) 2. Supply dynamics - HIP-3 operators: 4–12 exchanges × 500K HYPE → 2–6M HYPE staked - Aligned stablecoins: 1–3 issuers × 1M HYPE → 1–3M HYPE staked - Assistance Fund: 100% of annual revenue used for buybacks (~41.6M HYPE) - Hyperliquid Strategies Inc: $305M in cash allocated (~6.8M HYPE) -> Ready-for-sale float projected to shrink to ~220M HYPE 3. Valuation - FY26E Revenue: $1.87B - Circulating Mkt Cap (@$45): $17.3B - P/E: 9.1x (circulating) / 5.3x (ready-for-sale) -> At $45, $HYPE trades below 10x forward earnings. A market re-rating to 15–20× implies $75–$100 range. 4. Takeaway - As Builder Codes, HIP-3, and USDH revenues kick in, $HYPE enters its profitability era: ~$1.9B rev / <10× P/E / $23–33B mkt cap range looks entirely reasonable. - packed with alpha. if you’re following Hyperliquid, it’s a must read.

The rocket came back from space at hypersonic speed and then hovered at a precise position

This is what #Bitcoin looked like when it almost died. From $17 to $0.01 on Mt. Gox, total chaos. No one was bullish that day. Everyone thought it was over for $BTC. But it was only the beginning. 💪

Someone has been buying $30 worth of #Bitcoin daily for the last 8 years, turning $86,000 to $1 MILLION 🤯 WHAT A LEGEND!

Why do the Japanese use chains instead of pipes?

#Bitcoin HODLer built different. 💎

Rain Storm in Alabama outside this factory door looks like a portal to another world

Bitcoin final boss…

Donald Trump just crashed crypto

Hands down the greatest video you'll see today!😂😂😂😂😂😂😂😂 Turn it up!

Relax

Aiming for Sunday

🤐🤐🤐

Some Formula 1 🏎 impressions ahead of the Qatar GP

Seb, king of the dad jokes 👑🦔😂 #MonacoGP 🇲🇨 #F1

🤩😁🏆🏎 @LewisHamilton #epic #legend #f1 #f1istanbul #weraceasone

182 wins between two of the undisputed greatest F1 drivers of all time 🤝 @LewisHamilton and Michael @schumacher: 9️⃣1️⃣ wins apiece #EifelGP 🇩🇪 #F1

Just a bit of mirror tweaking from @danielricciardo 🔧 At 300 km/h 😮 #RussianGP 🇷🇺 #F1

Crucible final; Sheffield; Da Rude Sandstorm (Gatecrasher legendary tune) and Oasis Rock n Roll star... Happy awesome memories in all of that 😃 #Goosebumps #Snookerworldchampionships