Hyperliquid's Q3, in three lines (per PANews via Binance News):
• Nearly half of incremental revenue came from yield on its USDC reserves
• Open interest rose 80% to nearly $17 billion
• Average daily active traders hit a record
Institutions also kept buying $HYPE, the report says.
The interesting part is the first line. A trading venue earning heavily from reserve yield benefits from higher rates. That's a different revenue profile from pure trading fees, and one worth understanding as rate-hike bets build.
Fees or float: which do you think drives DEX revenue next year?
Not financial advice.
#Hyperliquid #DeFi #DEX
• Nearly half of incremental revenue came from yield on its USDC reserves
• Open interest rose 80% to nearly $17 billion
• Average daily active traders hit a record
Institutions also kept buying $HYPE, the report says.
The interesting part is the first line. A trading venue earning heavily from reserve yield benefits from higher rates. That's a different revenue profile from pure trading fees, and one worth understanding as rate-hike bets build.
Fees or float: which do you think drives DEX revenue next year?
Not financial advice.
#Hyperliquid #DeFi #DEX
