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Threading on the Edge Threading on the Edge @threadingontheedge · 7.81K subscribers
Post #4738 415
$HYPE vs $PUMP made me rethink how much buybacks actually matter in valuations.

@HyperliquidX is doing $800M in annualized revenue. @Pumpfun is doing $440M. - both are extremely profitable businesses by crypto standards - both use substantial portions of their economics to buy their own tokens - both therefore have a relatively straightforward mechanism through which business activity creates recurring token demand

https://x.com/arndxt_xo/status/2093158326796419354
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