Grayscale: Hyperliquid Generates $105M in September Revenue as Income Sources Diversify
Grayscale estimates Hyperliquid generated about $105 million in September 2026 revenue, roughly flat year over year. Non-core income doubled to $38 million as core trading fees fell to about 64% of revenue. Grayscale points to regulated US market access, including ICE's Trade[XYZ] perpetuals partnership, as a possible growth driver.