Yesterday, checking DefiLlama, I saw that Hyperliquid is generating significant revenue. It took in US$ 3.27 million in a single day, the highest number since February. This is quite meaningful for a derivatives protocol.



It only trails Tether and Circle in revenue volume, but considering that these two are stablecoins with huge scale, Hyperliquid is in a very interesting position. According to DefiLlama data, competition among protocols is fierce.

The cool thing is that when you regularly follow DefiLlama, you see that these revenue peaks usually reflect periods of increased activity in the derivatives market. It seems the sector is gaining traction again.
HYPE2,05%
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