POPA ReconHYPE's Road to $100B FDV
HYPE's Road to $100B FDV Hyperliquid is $4B away from a $100B fully diluted valuation after its third all-time high in a week, with open interest at a record $17.79B. The catalyst is regulatory: Kraken's parent Payward will bring HIP-3 perps to US clients through CFTC-regulated Bitnomial – the first registered US venue on the chain, and it needs to stake 500K HYPE to do it. Underneath, the burn keeps running: 48.4M HYPE, 4.84% of max supply, already retired through the Assistance Fund, which takes ~99% of protocol fees. Only ~26% of supply circulates, so $100B FDV is a $28B market cap – and…
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