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Hyperliquid tops S.A.N.T.A in 24-hour revenue amid memecoin infrastructure competition

Protocol Fundamentals
28 Jun 2026
Crypto Briefing
View Source
Bullish
pluang ai news

Hyperliquid has surpassed S.A.N.T.A in 24-hour revenue, highlighting its strength in the memecoin infrastructure space. The platform, built on its own Layer-1 blockchain for perpetual futures trading, has generated over $1 billion in cumulative revenue, with annualized run rates between $676 million and $843 million. Hyperliquid's model redistributes up to 97% of trading fees into buybacks of its native token, HYPE, creating strong demand but limiting reserves. In contrast, S.A.N.T.A's revenue and operations remain less transparent, making Hyperliquid's verified on-chain data a key advantage for investors.

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