HyperLiquid’s Potential to Outpace Rivals in Fee Generation

Syncracy Capital co-founder Ryan Watkins recently expressed his bullish outlook for HyperLiquid, stating that the layer-1 blockchain and decentralized exchange (DEX) could become one of the biggest blockchain projects by fee generation in the coming year.

Watkins’ Bullish Outlook for HyperLiquid

Watkins, a former senior research analyst at market intelligence platform Messari, took to social media to share his thoughts on HyperLiquid’s potential. He believes that the DEX platform has strong potential to become the top blockchain by fees generated in 2025, citing its vertical integration of profitable businesses in the crypto space, including exchange (spot + derivatives) and blockspace (HyperEVM).

“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).”

Watkins also notes that the missing component that would see HyperLiquid “complete the holy trinity” and potentially dominate is a stablecoin. He believes that attempting to create a stablecoin would be a challenging but not impossible task, citing examples of other projects that have attempted similar initiatives.

HyperLiquid’s Current Performance

According to recent data, Hyperliquid has recorded $5.16 million in seven-day fees and revenue. While this is a significant amount, it still trails behind other top protocols such as Ethereum, Solana, and Tron. The top protocols by fees across the ecosystem are currently on Ethereum, led by the stablecoin giant Tether.

As the crypto space continues to evolve, it will be interesting to see how HyperLiquid performs in the coming year. With its strong potential and growing adoption, it’s definitely a project to keep an eye on.

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