Cantor Fitzgerald Unveils Bullish Forecast for Hyperliquid (HYPE)
A new in-depth report from leading asset management firm Cantor Fitzgerald paints a highly optimistic picture for the decentralized exchange (DEX) Hyperliquid (HYPE), projecting substantial growth for both the platform and its native token over the next decade. The 62-page analysis highlights Hyperliquid's strategic advantages and unique tokenomics, positioning it as a dominant force in the evolving crypto landscape.
Hyperliquid's Unique Edge and Impressive Performance
Hyperliquid operates as a specialized decentralized exchange focusing on perpetual futures, built upon a custom layer-1 blockchain. The report underscores HYPE's remarkable year-to-date performance in 2025, having already generated an impressive $874 million in fees from a staggering $2.947 trillion in trading volume. This strong showing comes despite its current fully diluted market capitalization hovering around $15.8 billion. A cornerstone of Hyperliquid's appeal, as detailed in the report, is its distinctive fee structure: approximately 99% of all fees generated by the protocol are dedicated to repurchasing and burning the HYPE token, an active mechanism designed to reduce its circulating supply and enhance value. This strategy has already seen roughly 2.6% of all projected HYPE tokens (or 5% of the current supply) removed from circulation in early 2025 alone.
Strategic Advantages and Ambitious Growth Projections
Cantor Fitzgerald confidently refers to Hyperliquid as "the exchange of all exchanges," anticipating its annual fees to skyrocket to $5 billion within the next decade. The report emphasizes that Hyperliquid's deep liquidity and superior trade execution will serve as powerful attractants, drawing even transient traders, dubbed "point tourists," back to the platform amidst fierce competition. The analysis suggests that even a modest 1% increase in market share from centralized exchange (CEX) competitors in the perpetuals sector could translate into an additional $600 billion in trading volume for HYPE. This, in turn, could generate an extra $272 million in annual fees, potentially boosting its market capitalization by $6.8 billion when applying a conservative 25x valuation multiple.
The Path to a $271 HYPE Token
With projected moderate market share gains—specifically, 17% in perpetuals and 18% in spot trading over the next ten years—Hyperliquid's annual fees are poised to exceed the $5 billion mark, potentially leading to a future market capitalization of approximately $125 billion. Crucially, when combined with the aggressive token burn mechanism, which could see the circulating supply dramatically decrease from 577.2 million to around 144.9 million within the same timeframe, the report forecasts an astonishing potential HYPE token price of $271. This projection is based on a fully diluted valuation of $125 billion, assuming 20% of the token float is repurchased. This bullish outlook arrives even as the HYPE token currently trades at $26.49, reflecting a recent 32% decline over the past month and a 55% drop from its all-time high of $59.30.
