Cantor Projects $200 Billion HYPE Token Valuation on Hyperliquid, Fueled by Fee Economics | Crypto Analysis

Financial services firm Cantor Fitzgerald has released a valuation model suggesting the HYPE token, native to the Hyperliquid decentralized exchange (DEX), could reach a staggering $200 billion market capitalization. This bullish projection is based primarily on the platform's innovative fee-sharing economics and its rapid growth in perpetual futures trading volume. The analysis, highlighted in the Asia Morning Briefing, centers on Hyperliquid's unique mechanism where fees generated from trading are used to buy back and burn the HYPE token, creating a deflationary pressure. Cantor's model extrapolates this "fee economics" model against projected trading volumes to arrive at the high-valuation scenario. Hyperliquid has emerged as a leading DEX for perpetual futures, often surpassing $1 billion in daily volume, which forms the core rationale for this long-term valuation thesis. The report underscores the growing institutional interest in crypto-native economic models and their potential to generate substantial value for token holders.