Hyperliquid Crushes the Competition With $97.7M in Fees

Hyperliquid led all blockchain networks in charge technology over the previous 30 days.

Newest figures suggest that it recorded $97.7 million and accounting for 35% of whole charges throughout chains.

Hyperliquid Dominates Charge Charts

Hyperliquid often allocates a part of this income for HYPE token buybacks, contributing to upward value stress. Tron ranked second with $58.8 million in charges, adopted by Ethereum at $45 million, Solana at $41.1 million, Bitcoin at $16.3 million, and BNB Chain at $10.6 million.

Past charges, Hyperliquid emerged as a dominant power in Q2 2025, because it recorded $648 billion in buying and selling quantity for the quarter and $1.57 trillion over the previous 12 months, in line with CoinMarketCap’s latest report. The platform generated over $300 million in income in the course of the interval, and secured greater than 60% of the perpetual DEX market, a efficiency which CMC estimates to be roughly 10 instances stronger than its nearest rival.

Progress was pushed by a number of components, together with the HYPE token airdrop and honest level system in late 2024, which boosted consumer engagement. Merchants had been additionally drawn to Hyperliquid’s streamlined interface, API, deep liquidity, and regular arbitrage alternatives.

Excessive-profile figures comparable to James Wynn additional amplified consideration, whereas the platform’s HYPE token buyback and burn program supported value stability.

In the meantime, VanEck analysts just lately said that Hyperliquid has efficiently “poached” high-value customers from Solana, thereby difficult one of many latter’s long-standing strengths. For years, the bullish case for Solana rested on its sturdy ecosystem of builders using its industry-leading transaction processing capabilities, which had been anticipated to again sturdy buying and selling exercise.

Nonetheless, VanEck famous that Solana has didn’t ship significant enhancements to ramp up consumer expertise within the perpetual futures (perps) sector, which created a possibility for Hyperliquid to step in with a extra superior and user-friendly product.

HYPE Value Motion

Over the previous week, HYPE has seen a notable upward trajectory, beginning close to $39.27 on August 6 earlier than dipping barely in early buying and selling. Momentum picked up on August 8, which led to a gradual rally that pushed the value above $46 on August 11. This surge represented a acquire of practically 18% from the weekly low.

Nonetheless, the rally was adopted by a reasonable pullback, because the token consolidated across the $42-$44 vary. On the time of writing, HYPE is buying and selling close to $43.