Hyperliquid’s USDC supply has already surpassed Solana!🔥
On September 17, the USDC supply in the Hyperliquid ecosystem reached about $6.73 billion, exceeding Solana’s $6.72 billion. This change might seem like just a number, but behind it, on-chain liquidity is accelerating toward Hyperliquid.
What’s even more worth关注 is that these USDC liquidity aren’t simply sitting idle on-chain. According to related estimates, they can generate around $200 million in revenue each year, and this revenue can be further used to buy back HYPE.
In plain terms: Solana’s advantage is having a large amount of USDC liquidity, while Hyperliquid’s more interesting part is this loop—USDC liquidity → generates revenue → repurchases HYPE → forms an ecosystem value cycle.
This is the “vertically integrated DeFi” that more and more people are paying attention to: not only liquidity, but also real business and cash flow. Next, what’s truly worth watching is whether this flywheel can keep spinning, and how far the capital scale in the HYPE ecosystem can go.
Follow me and keep letting me break down DeFi in plain language, $HYPE , and the logic behind on-chain capital. $SOL
On September 17, the USDC supply in the Hyperliquid ecosystem reached about $6.73 billion, exceeding Solana’s $6.72 billion. This change might seem like just a number, but behind it, on-chain liquidity is accelerating toward Hyperliquid.
What’s even more worth关注 is that these USDC liquidity aren’t simply sitting idle on-chain. According to related estimates, they can generate around $200 million in revenue each year, and this revenue can be further used to buy back HYPE.
In plain terms: Solana’s advantage is having a large amount of USDC liquidity, while Hyperliquid’s more interesting part is this loop—USDC liquidity → generates revenue → repurchases HYPE → forms an ecosystem value cycle.
This is the “vertically integrated DeFi” that more and more people are paying attention to: not only liquidity, but also real business and cash flow. Next, what’s truly worth watching is whether this flywheel can keep spinning, and how far the capital scale in the HYPE ecosystem can go.
Follow me and keep letting me break down DeFi in plain language, $HYPE , and the logic behind on-chain capital. $SOL
