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Hyperliquid's Q3 protocol revenue hits $190.9M, up 21.7% led by USDC yield and priority fees.

Protocol Fundamentals
13 Nov 2026, 13:48 WIB
Tokenpost
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Bullish
Hyperliquid's Q3 protocol revenue hits $190.9M, up 21.7% led by USDC yield and priority fees.

Hyperliquid generated $190.9 million in protocol revenue in the third quarter, marking a 21.7% increase from the previous quarter and its highest quarterly total in 2026. The revenue growth was largely driven by USD Coin (USDC) reserve yield, which contributed $17.3 million since August 27, accounting for about half of the quarter's revenue increase. Additionally, priority fee revenue surged 3.3 times quarter over quarter to $9.6 million. These two revenue streams together made up 14% of the total protocol revenue without requiring extra trading volume, highlighting efficient revenue sources for Hyperliquid.

Hyperliquid's Q3 protocol revenue reached $190.9 million, its highest in 2026. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Nov 13, 2026 18:21 WIB: out of 50 assets, 14 rose and 35 fell. Notable movers include BAL at Rp16.297 with an 11.14% gain and EOS at Rp12.649 with an 8.13% increase.

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