Ran Neuner explains why Hyperliquid's real float is way tighter than its $80 billion FDV suggests "The one thing that people don't realize about Hyperliquid, you say, wow, this thing's valued at $80 billion. But there's an old valuation on companies, FDV - number of shares in circulation times... the price. That's not a good measure for crypto." "Crypto is a function of scarcity times pressure. It's not shares in circulation times price. It's: how scarce is it, and what is the buying pressure? Think of it like pushing water up a tube. How tight the tube is and how high the pressure is, that's how high the price is going to go." "In crypto you've got staking, which makes things much tighter. To list a token on Hyperliquid you've got to put $55 million or $80 million into a staking contract. That creates a lot of scarcity. So even though Hyperliquid looks like it has an $80 billion fully diluted valuation, the buying pressure plus the staking pressure, divided by the number of tokens in circulation, creates insane pressure on the way up."show more

I hope you are not still partnering with that charlatan

Yea ok Eth would be at a million a coin

FDV is the wrong yardstick. Float plus staking pressure is what moves Hyperliquid.

FDV definitely doesn’t tell the whole story when a large part of the supply is locked or staked.

That's an interesting perspective on valuation! Scarcity and pressure really do play key roles in crypto.

That $55M listing bond is where the FDV math starts falling apart

Partly because the loudest timelines chase pumps. The people who just use it tend to stay quiet on purpose.

fdv has always been a meme

Float matters

FDV tells you the headline valuation. It doesn’t tell you how much supply is actually available to absorb demand. That’s where things get interesting.

Scarcity and buying pressure really matter

This guy Ran called the bottom at 100k then at 90k then at 80k then at 60k then at 57.7K and now he is right. Absolute genius 👏

This is where FDV math gets awkward.

Staking lockups make Hyperliquid’s real float far tighter than that $80B FDV

@cryptomanran But it's still $80B

He almost said something, but then he remembered he was clueless

lmao "we use a spreadsheet

Sounds like a classic case of numbers needing a reality check.