🤔 Bitwise considers HYPE, UNI, and AAVE tokens undervalued
The main reason: the market has not yet fully priced in the link between real earnings of crypto projects and the value of their tokens. More and more protocols are using revenue to buy back and burn tokens.
For example, in Hyperliquid they spend on buying back HYPE ~99% of their commission income, and they have already bought back and burned tokens worth $1.3b.
At Uniswap, they use about ~$100m per year for this, and at Aave, Pump․fun, Lighter, and other projects they are rolling out similar mechanisms.
CIO Bitwise: If the connection between earnings and token value continues to strengthen, their valuations could double—or grow even more as the market comes to terms with the new reality.$UNI #criptonews
The main reason: the market has not yet fully priced in the link between real earnings of crypto projects and the value of their tokens. More and more protocols are using revenue to buy back and burn tokens.
For example, in Hyperliquid they spend on buying back HYPE ~99% of their commission income, and they have already bought back and burned tokens worth $1.3b.
At Uniswap, they use about ~$100m per year for this, and at Aave, Pump․fun, Lighter, and other projects they are rolling out similar mechanisms.
CIO Bitwise: If the connection between earnings and token value continues to strengthen, their valuations could double—or grow even more as the market comes to terms with the new reality.$UNI #criptonews