The decentralized exchange Hyperliquid (HYPE) is seeing a significant rise in its key metrics, establishing itself as a favored trading platform amid escalating tensions in Iran. This surge in activity has helped HYPE outperform leading cryptocurrencies, with a notable 23% gain over the past week. However, market analyst Ali Martinez suggests that investors may soon see a new buying opportunity emerge.
### A New Sell Signal for Hyperliquid
Martinez pointed out that on March 8, the TD Sequential indicator signaled a buy for HYPE, which was confirmed as the token’s price rose 28.23% from around $30 to a high near $38.53. As of March 13, however, the same indicator is now showing a sell signal. Martinez warns that increased selling pressure could lead to a short-term pullback to around $34.
Currently trading at $36.37, this would represent a decline of about 6.5%, on top of a recent 2.5% drop over the last 24 hours, according to CoinGecko data. Martinez views this potential dip as a strategic chance to buy before the expected upward trend resumes.
### Ambitious Projections for HYPE
Adding to the positive outlook, research firm DCo has released a new valuation model for HYPE. They analyzed four scenarios based on how much of the $1.74 trillion daily Total Addressable Market (TAM) Hyperliquid could capture through its HIP-3 protocol.
Using a three-year discounted cash flow (DCF) model, each scenario assumes a gradual market capture: 20% in Year 1 (2026), 50% in Year 2 (2027), and 100% by Year 3 (2028), reflecting the steady process of building market share.
In a bear case where Hyperliquid captures just 0.01% of the market, HIP-3 could generate $32 million in annual fees at full scale. Combined with a baseline revenue projection of $1.35 billion and the terminal value from Year 3, the DCF analysis estimates an enterprise value of about $18 billion, which could push HYPE to a new record of $60 per token.
Under a base case of 0.10% market capture, Year 3 revenue from HIP-3 would rise to roughly $322 million, leading to total revenue of about $1.7 billion and an enterprise value near $22 billion. This would imply a token price around $72.
### $190 in the Most Optimistic Case
In a bullish scenario with a 0.50% capture, Year 3 HIP-3 fees would reach $1.6 billion, contributing to total revenue of $3.0 billion. This would result in an enterprise value of $38 billion, corresponding to a token price of about $124.
The most optimistic case, with a 1.00% capture, projects total Year 3 revenue of $4.6 billion, an enterprise value of $59 billion, and a potential HYPE price of $190.
DCo’s analysis indicates that, even after applying a default 20% discount and a 20x multiple, the current price of $37 is well below the bear case valuation of $60. This suggests the market has not yet fully priced in the potential of HIP-3 and may be undervaluing Hyperliquid’s core exchange business.
Frequently Asked Questions
Of course Here is a list of FAQs about the potential for Hyperliquid to reach a price of 190 framed in a natural and informative way
Beginner General Questions
1 What is Hyperliquid
Hyperliquid is a decentralized exchange built for highspeed lowcost perpetual futures trading Its native token HYPE is used for governance fee discounts and securing the network
2 I heard HYPE could hit 190 Is that true
Its a speculative prediction not a guarantee This price target is based on a hypothetical scenario where Hyperliquid captures a major share of the perpetual futures market under ideal conditions
3 What does capturing a significant share of the market mean
It means Hyperliquid would need to become one of the top platforms for trading perpetual futures contracts handling a volume of tens of billions of dollars daily
4 What are favorable conditions for this to happen
This typically refers to a strong overall crypto bull market increased demand for decentralized trading major technological advancements by Hyperliquid and potential regulatory clarity that benefits DeFi
5 Is investing in HYPE a safe bet to make money
No Crypto assets especially tokens for newer platforms are highly volatile and risky The 190 target is a bestcase scenario and the price could also fall significantly
Advanced MarketRelated Questions
6 What specific metrics would signal Hyperliquid is gaining that market share
Key metrics would be a consistent and rapid increase in Total Value Locked daily trading volume number of active unique traders and open interest on the platform compared to competitors
7 Whats the main competition and how does Hyperliquid stand out
Its main competitors are other perps DEXs like dYdX GMX and Gains Network Hyperliquid differentiates itself with its own custom blockchain designed for maximum speed and low cost aiming for a seamless trading experience
8 What are the biggest risks to this 190 price prediction
Major risks include intense competition outexecuting Hyperliquid a prolonged crypto bear market critical smart contract vulnerabilities or hacks and adverse regulatory changes targeting DeFi derivatives