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crypto.news 2024-12-27 20:25:00

Hyperliquid fee generation could explode in 2025, expert says

HyperLiquid, the recently launched layer-1 blockchain and decentralized exchange, could outpace rivals in terms of fee generation in the next year, Syncracy Capital co-founder Ryan Watkins says. The DEX platform for perpetual futures has, in the past few days, attracted attention amid speculation that hackers affiliated with North Korea-backed Lazarus Group were snooping for vulnerability. Hyperliquid Labs has since debunked the claims of potential vulnerability as linked to whale activity, which is said to be from North Korean hackers. But away from this, what does Ryan Watkins, the co-founder of venture capital firm Syncracy Capital and former senior research analyst at market intelligence platform Messari, say about Hyperliquid ( HYPE )? On Dec. 27, the Syncracy Capital co-founder took to X to express his bullish outlook for the DEX platform. According to Watkins , Hyperliquid could grow into one of the biggest blockchain projects by fee generation in the coming year. “Hyperliquid has strong potential to become the top blockchain by fees generated in 2025 in large part because it vertically integrates almost all the most profitable business in crypto’s history: exchange (spot + derivatives) + blockspace (HyperEVM).” You might also like: Here’s why HYPE fell 20% over the past day Observers say HYPE token’s potential to explode in the coming months is down to the industry’s adoption of the spot and derivatives offering as well as traction for the HyperEVM. In Watkins view, the missing component that would see Hyperliquid “complete the holy trinity” and potentially dominate is a stablecoin. “Stablecoin is harder to do in practice, but wouldn’t be surprised if it’s attempted. Terra in the past and Berachain + Ethena (soon) today are doing the same thing”. Ethena Labs recently launched USDtb , a stablecoin backed by Blackrock’s USD Institutional Digital Liquidity Fund. The initiative is in partnership with the tokenization platform Securitize. Per DeFiLlama data , Hyperliquid has recorded $5.16 million in seven-day fees and revenue. In comparison, Ethereum, Solana and Tron have generated more. The top protocols by fees across the ecosystem are on Ethereum, led by the stablecoin giant Tether. On Solana, DEX protocol Raydium, liquid staking platform Jito and meme launchpad Pump.fun lead in fees generation. You might also like: Frax Finance opens community voting until Jan. 1 to adopt BlackRock’s BUIDL for new stablecoin Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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