Ansem: If they deliver on the airdrop promise and improve community relations, PUMP could surge 10 to 15 times

BlockBeats News, July 16th. Renowned crypto KOL Ansem posted, stating that he believes token buybacks alone may not effectively support valuation. Hyperliquid has an annualized revenue of around $800 million, Pump.fun has an annualized revenue of about $440 million, both continuously using part of their profits to buy back tokens. However, HYPE's FDV is around $65 billion, while PUMP is only about $1.4 billion.

He believes that the difference in valuation between the two projects is not mainly from revenue but from the "trust premium" formed by team behavior and market decisions. Hyperliquid rarely overpromises, consistently launches products, and rewards core users according to preset metrics, thereby maintaining high trust between the team and the community.

In contrast, Pump.fun has generated approximately $1 billion in revenue and raised $1 billion through an ICO, but the previously promised user airdrop has not been fulfilled. Ansem believes that if the project truly fulfills the airdrop and addresses core user concerns, PUMP's price could potentially increase by 10 to 15 times, while also boosting platform trading volume, visibility, and revenue growth.

He also used Bitcoin as an example, stating that Bitcoin has no revenue, but its market cap is around $1.3 trillion, deriving its value from a fixed supply of 21 million coins and the trust formed by the continuous operation of the network. In addition to tangible metrics like revenue, trust, the meme effect, and attention are also crucial factors influencing asset valuation.