Defi
Hyperliquid Captures 90% of USDC Reserve Revenue on $6 Billion Holdings
COINOTAG·October 31, 2026·1 min read
A Grayscale report says Hyperliquid's revenue mix has broadened, with 90% of reserve yield on about $6 billion in USDC returned through Coinbase. This diversification highlights Hyperliquid's growing reliance on stablecoin reserves for revenue, a shift from trading fees as its user base and asset base expand.
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