A Multiple, Not a Moral: Reading Grayscale's Per-Token Valuation of Hyperliquid
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Fear
Market Sentiment
Improves data availability sampling efficiency
Circulating supply increases by about 2%
Independent validator client goes live on mainnet
92 million ARB released
Block reward halving event
Team and early investor shares released
Raises validator limit and account abstraction
Block reward reduced to 3.125 BTC
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