the only real utilityの‌価格hype

I didn’t like @pumpdotfun much, mainly because before launching $PUMP, it was the biggest web3 extractor. Before releasing their token, they generated $4.5M SOL in revenue, which is almost $1B, that left the ecosystem. But since PUMP, 100% of the revenue has been used for buybacks, and that changes everything. The revenue is now reinvested into the ecosystem and benefits more people. That’s exactly what makes PUMP one of the most undervalued and easiest altcoins to analyze. PumpFun and @HyperliquidX are the top recent Dapps, both generate massive revenue, have large user bases, and are driving crypto adoption. They also use 100% of their revenue to buy back their native tokens. So it makes total sense to compare them. If we look at the revenue generated in the last 30 days, PumpFun made $56M, which annualizes to $672M. Hyperliquid generated $82M, which annualizes to $984M. The FDV/Revenue ratio is 51 for $HYPE and 10 for PUMP. PumpFun is buying back 26% of its circulating supply each year compared to 6% for Hyperliquid. That can only mean two things: Either HYPER is overvalued. Or PUMP is heavily undervalued. Honestly, I think it’s a bit of both. And the crazy part is that PUMP is doing all this at a time when no one is trading memecoins. I’m not a big memecoin trader, but it feels like the narrative is dead. Know that in November, 23% of HYPE’s supply will start entering circulation. We don’t yet know exactly where it will go, but it will certainly cause significant dilution. The next PUMP unlocks are scheduled for July 2026, so there’s no dilution risk in the short term. PUMP strongly reminds me of HYPE in its early days. HYPE was also very undervalued considering the volume on Hyperliquid. It took some time before the price corrected. In April 2025, HYPE had a $10B FDV while its 30-day revenue was $40M, that’s $480M annualized. The FDV/Revenue ratio was 20, close to PUMP’s current 10. The price later skyrocketed to $50, it was inevitable. There’s also a strong similarity between HYPE and PUMP in terms of price evolution. PUMP is following the same trajectory. The different phases of evolution are: Post-launch growth, driven by excitement Profit-taking from weak hands, healthy correction Strong growth toward a level that better reflects revenue PUMP is currently at the beginning of phase 3. And it makes sense, the token launch, whether HYPE or PUMP, creates the same flywheel effect: more attention → more activity → more volume → more revenue → more buybacks → price goes up → more attention, and the cycle repeats. And PumpFun hasn’t finished building new products yet. In the long run, they aim for a much larger target than what they already have. They’re already revolutionizing streaming by rewarding streamers 50x more than Web2 giants. With only a few dozen average viewers, streamers on PumpFun make between $10K and $100K. It would take hundreds of millions of views on Web2 platforms to reach such earnings. They also have an almost unlimited development budget with $2B in the bank from their last fundraising. That’s attracting attention even outside crypto, @ARKInvest described PumpFun as the “TikTok of crypto,” highlighting its ability to innovate and evolve in a unique way. Always DYOR and size accordingly. NFA! 📌 Follow @Bluechip for unfiltered crypto intelligence, feel free to bookmark & share.

$ASTER momentum came out of nowhere. Honestly, I thought it was just another hyped-up project at first until I watched the price climb from under $0.6 to $1.5, with trading volume even beating $HYPE That’s when I realized this wasn’t just noise. When $ASTER got listed on Bitget spot, I knew it was the right moment to get in early, especially considering how well Bitget’s listings usually perform after launch. Before $ASTER futures went live, I’d already positioned myself and that move turned out to be worth it.

$REX The Sei team announced a staked SEI ETF submitted by Rex Shaees and Osprey Funds, which is part of a digital asset ETF group that includes LINK, SUI, and HYPE, aimed at enhancing consumer applications on the Sei Blockchain.

current bags (all spot and relatively inactive): $FARTCOIN $BTC $HYPE $MNT $BNB (bought a call option) eyeing more perps positions but just waiting

(LONG rant): Kind of interesting how class of 2017 mostly missed Hyperliquid despite being more educated and experienced with perps than younger generations of CT traders. (I pretty much missed $HYPE as well and only had a small airdrop). I think it's more due to our class