News linked to both this project and an event.
According to TechFlow Research, UBS pointed out in its research report on July 29 that SK Hynix's stock price has fallen 52% from its high on June 22, with a current price-to-book ratio of only 1.66x, implying a long-term ROE of 18.9%. However, UBS predicts the average ROE from 2027 to 2031 will reach 40.2%, a difference of 21 percentage points between the two. DRAM bit demand growth is expected to increase from 22% in 2026 to 36% in 2027, HBM capacity will increase from 230,000 wafers/month at the end of 2026 to 270,000 wafers/month at the end of 2027, and SK Hynix will maintain a 48% shipment share in the HBM industry in 2026. UBS believes the market valuation downward revision lacks basis, AI agents are driving accelerated memory demand, 10 long-term agreements have been signed, and although LTAs suppress ASP in the short term, they benefit profit margins in the long term. UBS maintains a Buy rating, lowering the target price from 3.2 million Korean won to 3 million Korean won, expects to launch a share buyback of about 12 trillion Korean won in the second half of 2026, and will use 50% of free cash flow for shareholder returns in the long term.
Grayscale stated HYPE's forward P/E ratio is approximately 15 to 18 times. Hyperliquid possesses real cash flow and can therefore be valued like a stock, but the valuation is based on earnings per token rather than earnings per share. Based on this, compared with fintech peers such as Coinbase, Robinhood, and Circle, HYPE still appears inexpensive. Market data shows that HYPE is currently trading at $55.32, down 1.5% in the past 24 hours.
Odaily News, CryptoQuant analyst Darkfost stated on platform X that currently, active Bitcoin investors are floating at a loss of about 20% on average, and market sentiment is in a "devaluation" phase, but has not yet reached the deep pressure levels typical of historical bear markets.Darkfost pointed out that the True Market Mean (TMM) is currently around $76,700. This indicator reflects the average cost basis of active circulating BTC supply (excluding coins that have been dormant for a long time, potentially lost, or illiquid). Historically, this level acted as a significant resistance zone in May, where some investors chose to exit the market without incurring losses or with minor losses. Meanwhile, the AVIV Ratio (Active Value to Investor Value) is currently around 0.8, meaning active investors are down approximately 20% from their cost basis. In contrast, during historical bear markets, this indicator typically drops to 0.5–0.6, corresponding to a deeper drawdown of about 40%–50%.Analysis suggests that in this cycle, the entry of institutional funds and ETFs has not changed Bitcoin's cyclical nature; the market continues to operate within its own structural framework. Although significant devaluation pressure is already evident, it may not necessarily need to fall to historical bear market extreme levels to trigger a rebound. Overall, cautious judgment regarding cyclical fluctuations remains necessary.