Hyperliquid Crushes Ethereum and Solana in Daily DeFi Revenue – Here’s Why It Matters

Move over, legacy chains—Hyperliquid just schooled Ethereum and Solana in the revenue game. The DeFi dark horse isn't just competing; it's lapping the so-called 'blue chips' while TradFi bankers still argue about blockchain use cases.

Numbers don't lie (but they do embarrass)

When a relative newcomer outpaces two of crypto's most capitalized networks, pay attention. No 'fluke' narrative here—just protocol economics hitting escape velocity while others tweak tokenomics PowerPoints.

The takeaway for degens and institutions alike?

Liquidity flows where incentives align. Whether this sustains or not, today's leaderboard proves DeFi's innovation cycle accelerates faster than a VC's pivot to 'AI-enabled blockchain.'

Hyperliquid Surpasses Ethereum and Solana in Daily Revenue

Artemis data reveals that Hyperliquid has come out on top in daily revenue, while Solana has trailed behind over the past three months. Impressively, this lead isn’t just a recent milestone. The protocol has also maintained higher weekly revenue levels since February.

Furthermore, Hyperliquid’s fees have mostly surpassed those of ethereum and Solana in the past three months, except for a few drops. In fact, yesterday, the platform’s generated fees surged to $1.7 million. 

“Hyperliquid generated $1.7M in fees in 24h, surpassing Solana, Ethereum, and Bitcoin in daily transaction fees,” analyst Mario Nawfal highlighted.

Hyperliquid generates 5000 US-Dollars in 2 Minutes and uses those fees to Buyback $HYPE. pic.twitter.com/jZ2ZpwDepM

Alongside its revenue success, Hyperliquid has seen a substantial increase in its total value locked (TVL) in the same time frame. TVL has surged by 147.6%, reaching $370.7 million. This growth further highlights the platform’s increasing appeal to users.

A significant factor contributing to Hyperliquid’s success is the heightened attention from whale activity on the platform. Notable traders like James Wynn and Qwatio have made headlines for their highly Leveraged trades. 

Their trades have led to handsome profits, yet the losses were equally huge. Even influencer Andrew Tate has recorded losses while trading on the platform.

While these examples serve as important lessons on the risks of high-leverage trading, they’ve undeniably propelled Hyperliquid into the spotlight. The increased visibility has also played a key role in Hyperliquid, capturing an estimated 81.09% mindshare within the crypto derivatives sector over the past three months.

Furthermore, Hyperliquid’s hybrid model is also a key factor, giving it an edge over other protocols and contributing to increasing investor adoption.

While Hyperliquid continues to attract users, its native token is also gaining momentum. Institutional investors, including Lion Group and Eyenova, have adopted the altcoin as a reserve asset, further bolstering its market credibility.