Is HYPE Really a Bargain at $40? Expert Reveals Shocking Market Insights!

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Is <a href="https://bbg-news.com/hype-usd/">HYPE</a> Cheap at $40? Expert Thinks the Market Is Pricing This Wrong

HYPE is currently trading at $39.29, making it the 10th largest cryptocurrency by market capitalization, which stands at $10.06 billion. The price has jumped almost 35% in the last month, and some investors believe it’s becoming too expensive. However, David Schamis, CEO of Hyperliquid Strategies, disagrees with that assessment.

He recently told The Rollup that if this were valued like Ethereum or Solana, the price – currently around $40 per token – should be much higher.

His argument is not based on sentiment.

Hyperliquid’s Numbers Make the Case

Hyperliquid generated $14 million in fees last week, a significant jump of 56% compared to the previous week. The platform is currently on track to earn $53 million this month, which would translate to over $600 million in fees annually. Hyperliquid dominates the perpetual decentralized exchange (DEX) market, controlling over 70% of open interest, and has processed $208 billion in trades over the last 30 days.

These figures represent a protocol that’s grown into one of the most popular financial platforms in the cryptocurrency world.

The Case for a Bigger TAM

Schamis believes a strong investment opportunity exists because he sees three separate markets that are currently undervalued.

Hyperliquid is gaining traction in the perpetual futures market, attracting users away from traditional, centralized exchanges.

As I’ve been observing the market, it’s clear that Binance‘s CZ seems quite concerned about the increasing competition – he and others he respects in the crypto space are feeling the pressure. What’s particularly interesting is that Hyperliquid is expanding beyond just crypto; currently, only 7 out of their 30 most popular markets are actually crypto pairs. This suggests a broader appeal and growing interest in other asset classes within their platform.

Everything else falls into the categories of basic goods and stocks. When tensions with Iran increased earlier this month, traders turned to Hyperliquid – a platform that’s always open – and its crude oil trading reached a high of $1.7 billion in a single day.

The second is real-world assets.

According to Schamis, Hyperliquid could potentially list any asset with a publicly available price feed. He believes the potential market for this is enormous.

Hyperliquid’s volume surged 100x in six months, driven largely by growing RWA trader interest.

HIP-4 and the Market Nobody Is Talking About Yet

HIP-4 is now available on the test network and offers a new way to predict future outcomes and trade options without the risks of leverage or liquidation.

According to Schamis, a veteran with more than 25 years of experience in the insurance industry, the combined market for structured products and insurance is worth trillions of dollars, and cryptocurrency has only begun to make an impact. Currently, applications are pending with the SEC from Grayscale, Bitwise, and 21Shares for exchange-traded funds (ETFs).

Could Hyperliquid be the future of on-chain trading, similar to the Chicago Mercantile Exchange (CME)? Recent activity includes trading of S&P 500 perpetual contracts, a surge in users, and developments around the Grayscale ETF – here’s a closer look.

The Bear Case

Unclear regulations might hinder growth, and the financial industry is always competitive. As Schamis pointed out, lasting brand loyalty is rare – customers tend to choose whoever offers the best price and the most readily available funds.

Whether $40 is a good price really depends on what version of Hyperliquid the market expects to see.

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2026-03-28 14:08