Multicoin Capital identifies Hyperliquid as major holding after reassessment

CryptoBriefing Investment firm Multicoin Capital has identified Hyperliquid ($HYPE) as one of its largest holdings, based on a comprehensive reassessment of the protocol, according to a statement shared by Grayscale on social media. The firm attributes its high-impact assessment to significant growth in liquidity and developer activity surrounding Hyperliquid, a decentralized perpetuals exchange protocol. This development highlights continued institutional interest in Hyperliquid, which is currently around $80 with a 24-hour volume ranging between $1.1 billion and $1.2 billion, and a market cap estimated at $18 billion to $20 billion. Key Takeaways Multicoin Capital’s investment in Hyperliquid appears to indicate a positive outlook for the protocol’s future, suggesting confidence in its growth potential. Market pricing for Hyperliquid reaching $100 by December 31, 2026, stands at 51% YES, reflecting mixed sentiment in the short term. The reassessment by Multicoin may indicate increased institutional focus, consistent with scenarios where Hyperliquid is viewed as a high-liquidity, actively developed crypto asset. What to Watch Market participants will be closely monitoring any furth...