Hyperliquid Dominates Blockchain Fees: $97.7M Revenue Reaches New High

Hyperliquid has emerged as the frontrunner in blockchain fee revenue, capturing a staggering 35% of all transaction fees and generating $97.7 million as of August 2025. This significant market share shift highlights a major turning point in decentralized finance (DeFi). Hyperliquid’s innovative gas-free perpetual futures trading model, built on high-speed Layer 1 architecture, has driven its success over platforms like Ethereum and Solana. The platform’s CEX-like experience within a decentralized context is attracting users, leading to increased user engagement and fee generation.