Hyperliquid reports over $1.4 billion revenue and $1.26 billion in HYPE token buybacks
The decentralized derivatives platform Hyperliquid announced cumulative protocol revenue exceeding $1.4 billion and said it has spent more than $1.26 billion on open‑market repurchases of its HYPE token. Castle Labs research estimates the protocol controls roughly 56 % of the on‑chain perpetual futures market by open interest. Third‑party wallets such as Phantom and MetaMask have each earned tens of millions of dollars through Hyperliquid’s Builder Codes program.
Why it matters
The large buyback amount ties fee generation directly to demand for HYPE, which could support the token’s price if buying pressure persists (the company notes 95 % of fees are allocated to repurchases). The protocol’s dominant market‑share suggests it remains the primary venue for on‑chain perpetual trading, influencing liquidity and price discovery for HYPE derivatives.
Key facts
- 1Cumulative protocol revenue surpassed $1.4 billion. tronweekly.com
- 2More than $1.26 billion was spent on open‑market HYPE token buybacks. tronweekly.com
- 3Castle Labs estimates Hyperliquid controls about 56 % of the on‑chain perpetual futures market by open interest. hokanews.com
- 4Phantom has generated over $25 million in cumulative Builder Codes revenue. cryptonews.net
- 5MetaMask has generated over $10.5 million in cumulative Builder Codes revenue. cryptonews.net
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.