X @Ansem 🧸💸

Market Analysis - $PUMP and $HYPE are identified as crypto's biggest revenue generators, allocating approximately 100% of their revenue to token buybacks [1] - $PUMP is buying back nearly 3% of its unlocked supply monthly, while Hyperliquid is buying back approximately 0.7% [1] - $PUMP is effectively removing 34% of its current market cap from circulation annually, while Hyperliquid is removing about 8.4% [1] - The industry anticipates $PUMP to re-rate higher, with multiples converging, although $HYPE is expected to trade at a premium [1] Competitive Positioning - $PUMP has established itself as the launchpad leader, maintaining market dominance as competitors struggle to retain volumes and market share [1] - $PUMP's market dominance allows for easier participant buy-in and valuation expansion, enabling the company to pursue larger ambitions beyond being just a dominant launchpad [1]