Grayscale Crypto Asset Valuation Analysis: HYPE and CAKE Top the Charts for Holder Yield and Adjusted Earnings Yield Respectively

BlockBeats news, October 22 — Grayscale released a crypto asset valuation analysis, listing the top ten in two rankings: token holder yield and adjusted earnings yield. The former, in order, is HYPE, LIT, CAKE, AERO, UNI, RAY, PENDLE, AAVE, JUP, CRV; the latter, in order, is CAKE, LIT, HYPE, RAY, AAVE, JUP, SKY, UNI, AERO, PENDLE.

Grayscale noted that many crypto assets can be valued based on cash flows. Token holder yield is calculated as staking rewards plus buyback amounts minus new issuance value, relative to circulating market cap. Adjusted earnings yield is the ratio of protocol earnings to circulating market cap, minus the circulating supply inflation rate, used to measure protocol profitability after accounting for token dilution.