- Hyperliquid, when stacked against its rivals, it stands out as the future of crypto fee generation.
- With its unique integration of spot & derivatives exchanges, Hyperliquid is truly setting itself apart from its competitors.
If there’s one coin that turned December into its breakout month, it’s Hyperliquid [HYPE].
With an impressive 290% surge over the past month, HYPE shattered major psychological resistance levels to claim a new all-time high of $35.
This breakout comes from a mix of factors. Externally, as the market turned away from Bitcoin [BTC] and other top altcoins, investors flocked to HYPE as the mid-cap to watch.
But what truly sets HYPE apart is its growing edge over competitors, with clear advantages across various metrics.
Hyperliquid, the dominant face in crypto fee generation?
As a newcomer to the layer-1 blockchain ecosystem, Hyperliquid has rapidly made its mark. Its impressive rise is evident on the daily chart.
But that’s not the whole story. Industry heavyweights, like Ryan Watkins, co-founder of Syncracy Capital, are already predicting that Hyperliquid could soon become the dominant force in crypto fee generation by 2025.
While this bold prediction is not yet fully backed by data, it’s caught the attention of many. To understand the potential behind this vision, AMBCrypto took a deep dive into the narrative surrounding HYPE and its future.
A key component of the Hyperliquid platform is its decentralized exchange (DEX). In this context, crypto fees are generated when users trade currencies on the platform.
So, when you see higher fees, it means more traders are flocking to Hyperliquid, signaling growing adoption. However, despite all the initial hype, there’s a twist in the tale.
Source : Artemis Terminal
The DEX volume on Hyperliquid has seen a sharp decline. What once soared to an impressive $952 million in crypto trade volume has now fallen to just $211.8 million, reflecting a staggering drop.
As a result, the platform’s revenue has also dropped from $1.5 million to $955K, putting its operational expenses at serious risk.
Yet, amid this turmoil, Hyperliquid’s resilience stands out. In a market full of turbulence, it’s managing to weather the storm better than many of its competitors – a clear silver lining.
What to expect next?
There’s no question about it – HYPE is wrapping up 2024 on an incredibly bullish note. With a 780% YTD growth, it has firmly claimed a spot in the top 20 cryptocurrencies.
To top it off, as the year comes to a close, HYPE has surged in the crypto derivatives market, hitting an impressive half a billion in open interest (OI) within just one month of its launch.
What’s even more exciting is that HYPE is powered by Hyperliquid’s advanced technology, which could help it dominate the crypto fee generation in 2025.
By combining key areas of crypto—spot & derivatives exchanges and blockspace (HyperEVM) – Hyperliquid is setting up HYPE for long-term success.
With this tech stack, HYPE can provide a seamless experience across both spot and derivatives exchanges.
In other words, by combining the strengths of both, it offers its users a unique convenience – a key factor that separates it from the competition.
Realistic or not, here’s HYPE market cap in BTC’s terms
So, given its strategic focus on the very core of the crypto ecosystem – exchanges – Hyperliquid has built a highly profitable business, and it’s exactly why experts are predicting it could surpass its rivals in fee generation in 2025.
With its unique business model and the declining DEX volume of its competitors, it’s looking more likely by the day.
