Cantor Fitzgerald just threw down a massive bullish call: they see Hyperliquid’s $HYPE token blowing up to a *$200 billion market cap* over the next ten years. Their 62‑page report projects the protocol pulling in *$5 billion in annual revenue* (mostly from fees) and then slapping a *50× multiple* on that cash flow to get the $200 B valuation ¹ ². In other words, they’re treating Hyperliquid more like a core trading infrastructure—an “exchange of all exchanges”—than a speculative DeFi play. If the platform can keep its 15% volume‑growth trajectory and keep most fees flowing back to token holders via buybacks and burns, the upside could be huge. 🚀
_Disclaimer: Not financial advice._
