Post #2394

Hyperliquid capturing roughly 43% of all chain fees at around $11M weekly shows how dominant perpetual trading still is inside crypto’s revenue stack. Perps continue monetizing attention and liquidity more effectively than almost every other onchain activity category combined. What I find interesting is that this happened without the ecosystem size or developer count most L1s rely on. A single trading-focused venue is now competing directly with entire blockchain economies on fee generation alone.