Futures
Hundreds of contracts settled in USDT or BTC
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to experience risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
$LIT is currently valued at ~$650m circulating mcap ($2.7) and $2.6b FDV, with revenues annualising around $60m and declining.
$HYPE, by comparison, trades at roughly $6b circulating mcap ($25.5) and $25b FDV, while annualised revenue sits near $700m.
On a multiples basis, HYPE trades at ~8x P/E (circulating) and ~28x FDV P/E, whereas LIT trades at ~10.5x circulating P/E and ~43x on an FDV basis.
Given this, LIT is currently more expensive than HYPE on both circulating and fully diluted metrics, despite weaker fundamentals. Additionally, 100% of Hyperliquid revenue is directed toward buybacks, while LIT’s revenue distribution and token value accrual remain unclear. Fundamentally, there is no clear catalyst for LIT, and airdrop-related churn is likely to persist for some time.