Grayscale Says HYPE Token Cheap vs Coinbase, Robinhood, Circle

Grayscale Research has issued a note arguing that Hyperliquid's native token, HYPE, remains undervalued relative to major crypto industry players such as Coinbase, Robinhood, and Circle. The analysis suggests that HYPE's current market pricing does not fully capture its position within the decentralized exchange ecosystem.

The comparison highlights that while the referenced companies command significant valuations in public markets, HYPE’s token price has not kept pace with its underlying network activity and user base. Grayscale’s report frames this disconnect as a potential opportunity for investors who seek assets with room for price appreciation.

Such assessments often signal that the token may have upward potential if market participants adjust their perceptions. The endorsement from a prominent asset manager could draw additional attention to Hyperliquid and its market dynamics, especially among institutional investors.

Grayscale continues to expand its research coverage across the crypto sector, offering institutional-grade analysis on emerging tokens. The HYPE call aligns with its broader strategy of identifying assets that appear mispriced relative to traditional finance counterparts.