Grayscale’s crypto-asset valuation review ranked HYPE first for token-holder yield and CAKE first for adjusted earnings yield, according to a BlockBeats report published Oct. 22.
Lists use yield and dilution-adjusted measures
The token-holder-yield top 10 were HYPE, LIT, CAKE, AERO, UNI, RAY, PENDLE, AAVE, JUP and CRV. The adjusted-earnings-yield list was led by CAKE and followed by LIT, HYPE, RAY, AAVE, JUP, SKY, UNI, AERO and PENDLE.
BlockBeats said token-holder yield compares staking rewards and buybacks, less new issuance, with circulating market value. Adjusted earnings yield compares protocol earnings with circulating market value after subtracting the effect of supply inflation. The flash did not provide the underlying calculations or ranking values.