Hype Whales Unstake Millions as Hyperliquid Revenue Tops $1.21 Billion

Hyperliquid, a protocol that has been generating significant revenue, is in the spotlight as large HYPE holders begin to unstake their tokens. According to recent activity, one wallet withdrew 1.02 million HYPE and another transferred 1.89 million HYPE worth approximately $105.9 million to institutional brokers, often associated with over-the-counter sales.

Despite this whale activity, the protocol continues to thrive, generating $1.18 million in daily fees and burning 18,180 HYPE tokens. This helped lift total revenue above $1.21 billion while removing 47.5 million HYPE from circulation.