HYPE’s 50% Revenue Drop Exposes the Limits of Hyperliquid Treasury-Fueled Momentum

The Hyperliquid (HYPE) token trades at around $55, up roughly +5% in 24 hours, a bounce that still leaves it well off the highs that once made it one of crypto’s standout performers. The uncomfortable truth is that the rally was never built on earnings power, and the market is now seemingly pricing that in.

HYPE’s price surge was engineered by concentrated treasury buying, not by accelerating DeFi revenue or expanding protocol fundamentals, and once that bid stopped, unwinding was inevitable.

This drawback has left investors wondering whether HYPE really is the future of decentralized finance or if it will become the latest casualty in this brutal bear market, which has seen many utility-backed projects fall more than 90% from their all-time highs.

Hyperliquid is about to unlock a whole new wave of American hedge funds.

Lazersays explains how Perp platforms have mostly been fighting over the same crypto-native whales.

And how Hyperliquid is bringing regulated perpetuals onshore to the US—especially with the rise of Real… https://t.co/8ch0QQS23l pic.twitter.com/RVWskdi3lh

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