According to VanEck’s latest report, Hyperliquid captured a massive 35% of all blockchain revenue in July 2025, outpacing giants like Ethereum, Bitcoin, and Solana.
This marks a seismic shift in on-chain fee dominance, as Hyperliquid rapidly rises from a niche player to a leading force in the crypto economy.
The data doesn’t lie — revenue is flowing where the users are.
