Hyperliquid’s HYPE token has experienced a significant surge, soaring 25% in the past week to reach $48.70 as trading volume skyrockets. CoinMarketCap data reveals that daily trading volume reached an impressive $624 million and surged by 9.93% over the last 24 hours. This remarkable performance has positioned Hyperliquid at the forefront of protocol revenue generation, according to DefiLlama. The platform boasts the highest revenue in both daily and weekly earnings, generating approximately $3 million over the last 24 hours and a substantial $21.15 million throughout the week. Hyperliquid’s robust ecosystem further fuels this success. Hyperliquid L1 blockchain generated around $132,590 in a single day and $394,568 over the past week. The Hyperunit network’s Unit platform also earned $32,383 in a single day and $233,144 over the week, showcasing the growing momentum of the ecosystem. Other notable DeFi projects like Phantom garnered $69,897 in a single day and $480,932 for the week from trading fees, while BasedApp saw daily earnings of $58,096 and weekly revenue totaling $461,882, boosted by developer income tied to Hyperliquid trades. Market sentiment remains mixed among whales with major traders almost evenly divided between bullish and bearish bets. Their open positions stand at a staggering $7.2 billion, reflecting an even split of long (47%) and short positions (52%), suggesting a slight leaning towards bearish sentiment. However, recent market shifts have pushed long positions into profit of $182.6 million while shorts suffered losses of $222.7 million, showcasing a subtle shift towards bullish momentum. Robinhood’s listing on the platform has also played a significant role in boosting HYPE’s price, with the trading app creating a dedicated landing page before officially confirming the listing on Twitter (@RobinhoodApp). The token’s upcoming listing on Robinhood and Hyperliquid Strategies’ $1 billion fundraising effort to acquire more HYPE tokens are further fueling its popularity. With its impressive growth in revenue, active large trader involvement, and upcoming listing, HYPE is undoubtedly one of the hottest and most discussed crypto tokens this week.