Key Points
- HYPE drops 9% after Arthur Hayes exits with $823K profit.
- Market dominance falls from 86% to 62% in under a month.
- Revenue surpasses $700M despite growing competition.
Hyperliquid’s HYPE token is under pressure after Arthur Hayes sold his entire 96,628 HYPE position worth $5.1 million. The trade, which closed with a $823,000 profit equal to a 19.2% gain, followed just a month of holding.
HYPE is now trading at $49.05, marking a 0.34% hourly dip, a 7.39% 24-hour fall, and an 8.29% weekly loss. The sudden selloff from Hayes, who once projected massive upside, has sparked doubts about near-term market sentiment.
Market Share Declines but Revenue Growth Holds
HYPE’s dominance in the perpetuals market has dropped sharply, sliding from 85.98% on August 27 to 62.36% by September 22. This 23.6-point collapse coincides with rising competition from Aster at 11.15% and MYX Finance at 8.44%.
Smaller platforms also gained traction, with APX capturing 2.90% and Avantis reaching 2.74%. Meanwhile, Jupiter held steady at 7.29% and dYdX maintained around 2.4%, reflecting broader diversification in market activity.
Despite weakening dominance, Hyperliquid continues to generate substantial revenue, surpassing $700 million in September 2025. Daily inflows frequently ranged between $2 million and $4 million earlier this year, with peaks above $6 million.
Since December 2024, cumulative revenue has accelerated, with notable surges in July and August boosting the platform’s monetization capacity. This steady growth highlights resilience, even as rivals gain ground and competitive pressures intensify.
Sustaining such revenue momentum may support Hyperliquid in navigating the evolving competitive landscape. However, investor confidence will depend on whether the platform can maintain scale while defending its market position.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/hyperliquid-hype-slumps-9-as-marketshare/