Hyperliquid Makes Money in a Bear Market Without Anyone Trading, Grayscale Says

📌 The Rundown:
• Hyperliquid’s revenue model hinges on a 90% interest split from $6 B in USDC held by Coinbase, generating passive income even with minimal trading volume.
• The deal underscores a shift toward protocol‑centric yield generation, positioning Hyperliquid as a key player in the emerging “interest‑as‑service” niche within the DeFi ecosystem.

🎯 Strategic Outlook:
Hyperliquid’s model signals a broader trend where protocols monetize liquidity reserves rather than trading fees, potentially accelerating adoption of yield‑oriented platforms and redefining tokenomics for sustainable growth.

🚀 Top 24H Futures Outperformers:
• $IDOL (+73.3%) — Price: 0.0244
• $SOPH (+55.9%) — Price: 0.002206
• $BEAMX (+38.4%) — Price: 0.004621

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