Hyperliquid Revenue Tops $1.4B as HYPE Momentum Weakens

Hyperliquid has generated more than $1.4 billion in cumulative protocol revenue, reinforcing its position in decentralized derivatives as its native HYPE token retreats from recent highs. An October 8 Castle Labs research report found that the protocol has spent over $1.26 billion on open-market HYPE repurchases. It also estimates that Hyperliquid controls more than 56% of the onchain perpetual futures market by open interest. The figures arrive alongside a less favorable short-term trading picture. HYPE was quoted at $84.41 on October 10, while derivatives open interest fell 1.95% over the preceding 24 hours.

Source: Crypto News Flash