According to Odaily Planet Daily, BitMEX co-founder Arthur Hayes stated in a post that HYPE's current risk lies in "multiple compression." Although its annualized revenue is nearing its all-time high, its token price has fallen significantly.
Arthur Hayes noted that amid increasingly fierce competition in the perpetual swap decentralized exchange (DEX) market, speculators are no longer willing to pay high valuations for uncertain future revenue, leading to conservative market pricing for HYPE.


