Is Hyperliquid (HYPE) a shitcoin?
Partly. Real merit, but serious red flags.
Gold-meter
62/100
merit score
Shit-meter
54/100
red-flag score
Hyperliquid: Strongest on real usage (100); biggest red flag is admin powers (67).
— — Market Cap —
DeFi · Data confidence medium How much of the methodology had verified data behind this score. It says nothing about the project itself. Is this verdict fair?
Community opinion — never affects scores.
Every score is built from the indicators below. Select any line for the reasoning, raw data and source.
Goldcoin score breakdown Higher is better · total 62 Fair launch & distribution 16% of score 76
Genesis allocation to insiders measured 52 23.8% Launch method assessed 100 Fair mining / fair launch Top-100 holders' share measured ?
Unknown Supply soundness 14% of score 56
Current annual inflation measured 11 9% Supply policy assessed 100 Fixed hard cap Decentralization 16% of score 25
Consensus mechanism assessed 30 DPoS / small elected set Largest client's share measured 0 100% Nakamoto coefficient measured 46 ~4 (est.) Permissionless participation assessed 50 High stake minimum Reachable full / validating nodes measured 0 24 Usability as money 10% of score 95
Confirmation speed (L1) assessed 90 Under 10s Typical transaction fee (L1) assessed 100 Under $0.001 Full bear markets survived measured 0 0 Cost to attack measured 83 ~$3B (est.) Halts or rollbacks, last 5 years measured 75 1 Years in production measured 9 1.8 years Tech & development 12% of score 67
Programmability assessed 100 Full smart contracts (EVM or native VM) Open source assessed 0 Closed Originality assessed 100 Novel design or research Monthly active core developers measured ?
Unknown Security budget 10% of score 59
Fee share of security rewards assessed 15 Under 3% Real reward to securers assessed 50 Roughly break-even Security spend (rewards ÷ market cap per year) assessed 70 0.75% to 1.5% Security trend (hashrate or staked share, 1 year) assessed 100 Growing Real usage 10% of score 100
Annual fees ÷ market cap measured 100 4.5% Daily active addresses measured ?
Unknown TVL or non-speculative settlement ÷ market cap measured ?
Unknown
Shitcoin score breakdown Higher is worse · total 54 Unlock overhang 15% of score 61
FDV ÷ market cap measured 82 4.29× Unlocks in next 12 months measured 40 ~10% (est.) Admin powers 15% of score 67
Freeze or blacklist function measured 100 Yes Mint authority measured 0 None Upgrade path measured 100 Admin upgrade without timelock Function beyond speculation assessed 0 Money, gas or collateral Market cap ÷ annual economic throughput measured ?
Unknown Token needed to use the product assessed 50 Optional Insider control 20% of score 65
Team, investor and foundation holdings measured 60 ~30% (est.) Top-10 wallets' share measured ?
Unknown Who controls upgrades and governance assessed 70 Small multisig Hype dependence 10% of score 0
Celebrity, influencer or politician launch assessed 0 No Social mentions ÷ active addresses measured ?
Unknown Trading turnover measured ?
Unknown Track record 10% of score 17
Core-protocol exploits with user losses, last 5 years measured 34 1 Regulatory enforcement against the issuer measured 0 None Methodology v0.8 · computed 2026-09-29 