币界网报道：Lion Group Holding and Eyenovia, two U.S. listed companies, announced that they will include Hyperliquid's native token HYPE in their balance sheets, becoming the first traditional companies to list DeFi project tokens as strategic reserve assets. Hyperliquid's recent Builder Code revenue is close to $10 million. This mechanism allows developers to charge fees for user transactions. The cumulative revenue has reached $9.5 million, of which @pvp_dot_trade leads with $7.2 million. Analysis shows that if the valuation multiples of the payment industry are referred to, HYPE's implied valuation can reach $25.9 billion (about $76 per coin), up 72% from the current $44. Hyperliquid is transforming from a trading protocol to a digital asset financial infrastructure, and its Builder Code mechanism has attracted the attention of potential large platforms including Robinhood.