Hyperliquid Revenue Tops $1.4B as HYPE Momentum Weakens
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Hyperliquid’s cumulative revenue has passed $1.4 billion, and more than $1.26 billion has gone to HYPE buybacks. Builder Codes has also linked third-party wallets and applications to Hyperliquid’s trading infrastructure, with Phantom and MetaMask described as having earned millions through that setup. OpenETF is testing tokenized investment funds on the network, while open interest has been falling and HYPE is quoted near $84.41.
Key claims & sources
What it means
Users and wallet providers are the most visible group touched by this update today, because Builder Codes has already tied third-party wallets and applications into Hyperliquid’s trading infrastructure. That reaches beyond Hyperliquid’s own interface and includes Phantom and MetaMask, which are described as having earned millions through the setup.
In practice, the network now has a large revenue pool behind it, with more than $1.26 billion spent on HYPE buybacks and cumulative revenue above $1.4 billion. The other concrete change is that Builder Codes has connected outside wallets and applications to the trading stack, while OpenETF is testing tokenized investment funds on the network.
Market reaction i
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
Crypto News Flash
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 34 days ago | Hyperliquid’s USDC Yield Program Gets $14.6 Million for HYPE Buybacks event | 1 actors in common · 2 news media |
| 39 days ago | Wintermute Holds $93 Million in Hyperliquid Short Positions event | 1 actors in common · 2 news media |