$LIT is currently valued at around ~$650 million circulating market cap (circulating mcap) (price ~$2.7) and $2.6 billion FDV, with an annualized revenue of about $60 million and is trending downwards.
Meanwhile, $HYPE is trading at around $6 billion circulating market cap (price ~$25.5) and $25 billion FDV, with an annualized revenue of about $700 million.
Based on the valuation multiples, HYPE is trading at ~8x P/E (based on circulating market cap) and ~28x P/E based on FDV, while LIT is trading at ~10.5x P/E based on circulating market cap and ~43x P/E based on FDV.
With these figures, LIT currently surpasses HYPE on both measures of circulating market cap and fully diluted, despite having weaker fundamentals. Additionally, 100% of Hyperliquid's revenue is used for buyback activities, while the revenue distribution mechanism and value accumulation for LIT's token remain unclear. Fundamentally, LIT lacks a clear catalyst, and the sell pressure/churn related to airdrops is likely to persist for some time.
90% of the top 100 tokens are currently experiencing a decline over the past 90 days.
Most of these will never recover.
However, the tokens that may rebound will be projects with sustainable revenue models, sufficient to create value and return benefits to token holders.
At the current price levels, in my personal opinion, $ETH $UNI and $MORPHO are buying opportunities.
$BTC guys, “Sell silver, buy Bitcoin cause imagine how tough it is to move Silver around”
They misunderstand why silver is rising.
Silver is the element on the periodic table for conducting electricity. It is a critical industrial metal for electronics. There is a shortage. Silver has no replacement for industry.
The silver mines around the globe have been in deficit for 5 years, not meeting global demand. That means above ground reserves have been filling the gap. The vault supply is getting tight.
The only way to solve that problem is for price to rise to find the new level that balances supply and demand.