HyperEVM Revenue Surpasses $500K, HYPE Price Retreats From $83

The HyperEVM network recorded $500,000 in daily revenue on August 23, setting a new all-time high. The peak came during increased meme trading activity and gains across the decentralized exchange metrics.

The HYPE crypto price remained positive over 24 hours, despite a sharp reversal from $83. It retreated to $78.66, a decline of 5.3% from its session high.

Elysium, a Layer 2 network, will use HYPE as its gas token and split sequencer fees across three allocations: open-market KNTQ buybacks and burns (50%), ecosystem builders (25%), and Kinetiq's treasury (25%).