$HYPE has been plummeting crazily these past few days. Is Hyperliquid about to collapse? Is the DEX track about to be disproven? Sure enough, Jeff Yan is also a fraud. Are they all just animals issuing tokens to harvest retail investors? The market's plunge these past few days is due to 2.6 million HYPE being unstaked by the team, which, based on the current market price, estimates a selling pressure of about 80 million dollars, with the account belonging to Hyper Labs. There is a 7-day lock-up period for unstaking, so this batch of HYPE will really enter the market around November 28. This is the team's first time unstaking HYPE. The team has not started selling, but due to the recent plunge in BTC triggering panic, retail investors are clearing their positions early. The current opposing viewpoints are: > Everyone speculates that there are off-market buyers who will conduct OTC transactions, so it won't affect the market. > Jeff and the team deserve to buy a Lamborghini to improve their lives. From the data perspective: > Hyperliquid has generated over 900 million dollars in fees. > In the past 24 hours, 4.5 million dollars worth of HYPE has been repurchased and burned. > The SWPE index has reached 1.34, currently at ATL (all-time low), and if it were to recover to the historical maximum SWPE, there is still 4.5 times room for growth. > Currently, there is a significant discrepancy between SWPE and protocol revenue, with a serious inversion. Many people don't understand whether a higher or lower SWPE is better? To conclude, it is currently severely undervalued, equivalent to buying a 43.5 trillion market cap Nvidia at a 5x PE. SWPE, or Supply Weighted Price-to-Earnings ratio, is a unique valuation metric for the HYPE token, comparing the market value adjusted for circulation with protocol revenue. SWPE vs traditional PE represents a valuation revolution in cryptocurrency. Traditional PE reflects the relationship between a company's profitability and its stock price, while SWPE not only measures profitability but also captures the unique supply and demand dynamics of token economics. ...