Bitwise’s Matt Hougan says Hyperliquid’s token is not priced as if it is tied to a “global super-app,” arguing the platform is more than just a crypto platform.
Crypto asset manager Bitwise has called Hyperliquid “one of the most mispriced assets in crypto today,” despite its outperformance so far this year.
“Hyperliquid is one of the most important crypto projects to emerge in years,” Bitwise investment chief Matt Hougan said in a note on Tuesday.
“Its native token, HYPE, is the best-performing large-cap crypto asset of 2026, up 77% YTD [year to date]. And yet I still think investors are underestimating its impact and its value.”
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