Grayscale Announces Crypto Asset Yield Rankings: HYPE Holders Lead in Yield, CAKE Ranks Highest in Adjusted Earnings Yield

According to BeInCrypto, Grayscale released a crypto asset valuation ranking evaluated based on two metrics: "Token Holder Yield" and "Adjusted Earnings Yield". HYPE topped holder yields at 8.0%, with Lighter (LIT) following closely at 7.9%, and PancakeSwap (CAKE) ranking third at 2.6%, followed sequentially by AERO, UNI, RAY, PENDLE, AAVE, JUP, and CRV. In terms of adjusted earnings yield, CAKE led at 14.4%, with LIT at 14.1% and HYPE at 9.8%, followed sequentially by RAY, AAVE, JUP, SKY, UNI, AERO, and PENDLE. The report showed that five assets on the list had negative holder yields, including AAVE, JUP, and CRV, with CRV at -5.5% and JUP at -2.6%. Grayscale calculates holder yield as staking rewards plus buybacks minus new token issuance, so holders face dilution when new issuance exceeds total yields. While JUP's adjusted earnings yield stands at 3.5%, its holder yield remains negative.