Hyperliquid Overtakes Uniswap V3 in Daily Fees Amid HYPE Correction

Hyperliquid has taken over Uniswap V3 in daily protocol fees, generating approximately $2.6 million in fees over a recent 24-hour period.

This milestone is significant as it marks one of the most meaningful competitive milestones in DeFi this year and indicates that on-chain trading activity is concentrating within Hyperliquid Perps.

HYPE has corrected by more than 30% from its recent high, currently trading near $53.77 with a market cap of $13.58 billion and 24-hour volume of $370.43 million.

The drop from $77 to $53 represents a sharp correction but not unusual for a token that has moved as dramatically as HYPE has over 2026, according to analyst Crypto Patel who had flagged the $70-plus range as risky for new buyers before the correction materialized.