Hyperliquid's HYPE token projected at $128–$165 on 3–5% capture of global stock and futures trading

Decentralised says non-crypto trades made up 30% of Hyperliquid's volume in October 2026. Its model projects $128 per HYPE if Hyperliquid captures 3% of a projected $934 trillion global stock-and-futures trading market in 2029, and $165 at 5% capture. Both valuations use a 40x revenue multiple. Decentralised flags falling fees as a risk and discloses that it holds HYPE.