- Hyperliquid, compared to its competitors, it stands out as the future of crypto fee generation.
- Thanks to its unique integration of spot and derivatives exchanges, Hyperliquide truly stands out from its competitors.
If there is one coin that has made December its flagship month, it is Hyperliquide (HYPE).
With an impressive 290% increase over the past month, HYPE has broken important psychological resistance levels to reach a new all-time high of $35.
This breakout comes from a mix of factors. On the outside, as the market turned away from Bitcoin (BTC) and other top altcoins, investors flocked to HYPE as a mid-cap to watch.
But what truly sets HYPE apart is its growing edge over its competitors, with clear advantages across various metrics.
Hyperliquidity, the dominant face in the generation of crypto fees?
As a newcomer to the layer 1 blockchain ecosystem, Hyperliquid has quickly 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, already are predict that Hyperliquid could soon become the dominant force in crypto fee generation by 2025.
Although this bold prediction is not yet fully supported by data, it has caught the attention of many people. To understand the potential of this vision, AMBCrypto took a deep dive into the narrative surrounding HYPE and its future.
A key element of the Hyperliquide 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 Hyperliquide, signaling growing adoption. However, despite all the initial hype, there is a twist in the story.
Source: Terminal Artémis
DEX volume on Hyperliquide saw a sharp decline. What once reached an impressive $952 million in crypto trading volume has now fallen to just $211.8 million, reflecting a staggering decline.
As a result, the platform’s revenue also fell by $1.5 million to $955,000, putting its operational expenses at serious risk.
Yet, in the midst of this turmoil, Hyperliquide’s resilience stands out. In a market full of turbulence, it manages to weather the storm better than many of its competitors – a light silver lining.
What to expect next?
There’s no doubt about it: HYPE is ending 2024 on an incredibly optimistic note. With growth of 780% since the start of the year, it has firmly positioned itself in the top 20 cryptocurrencies.
To top it all off, as the year draws to a close, HYPE has exploded in the crypto derivatives market, reaching an impressive half a billion open interest (OI) in just one month after its launch.
What’s even more exciting is that HYPE leverages Hyperliquid’s advanced technology, which could help it dominate crypto fee generation in 2025.
By combining the key areas of crypto and derivatives exchanges and blockspace (HyperEVM) – Hyperliquid sets up HYPE for long-term success.
Using this technology stack, HYPE can provide a seamless experience on spot exchanges and derivatives.
In other words, by combining the strengths of both, it offers its users unique convenience – a key factor that sets it apart from the competition.
Realistic or not, here is the HYPE market capitalization in terms of BTC
So, given its strategic focus on the very heart of the crypto ecosystem – exchanges – Hyperliquid has built a very profitable business, and that’s exactly why experts predict it could surpass its rivals in terms of fee generation in 2025.
With its unique business model and competitors’ DEX volume declining, this seems more likely by the day.
