Hyperliquid’s third-quarter protocol revenue rose 22 percent from the previous quarter to 190,9 million dollars, while the platform’s support fund spent about 149 million dollars on HYPE buybacks during the same period.
According to Hyperliquid Research Collective data reported by Wu Blockchain, the platform recorded its highest quarterly revenue of 2026. Despite this, revenue was about 37 percent below the same quarter last year.
About half of the revenue increase came from USDC reserves
The 17,3 million dollars in USDC reserve yield accumulated since August 27 accounted for about half of the revenue increase from the previous quarter. Priority trading fees rose to 9,6 million dollars, 3,3 times the previous quarter’s figure. The platform’s number of daily active traders exceeded 65,000 during the quarter.
Support fund allocated 149 million dollars to HYPE buybacks
Hyperliquid’s support fund, called the Assistance Fund, spent about 149 million dollars on HYPE buybacks over three months. This amount is separate from the revenue reported by the protocol.
Not investment advice.