DeFi on-chain exchange GMX is severely undervalued

Compared to on-chain exchange HyperLiquid

GMX revenue (30 days): $10.8 million

HyperLiquid revenue (30 days): $7 million

GMX fully diluted market cap: $424 million

HyperLiquid FDV close to $4.07 billion

GMX's market cap = one-tenth of HyperLiquid's circulating market cap, severely undervalued $GMX