# Hyperliquid Q3 Protocol Revenue Hits 2026 High at $190.9 Million

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/56595
Published: 2026-11-13T11:48:17.000Z
Updated: 2026-11-13T11:48:17.000Z
Section: Investing

> USD Coin reserve yield and priority fees together made up 14% of revenue, without requiring additional trading volume.

Hyperliquid generated $190.9 million in protocol revenue in the third quarter, a 21.7% increase from the prior quarter and its highest quarterly total of 2026.

USD Coin (USDC) reserve yield generated $17.3 million cumulatively from Aug. 27, accounting for about half of the quarter’s revenue increase. Priority fee revenue reached $9.6 million, increasing 3.3-fold quarter over quarter.

The two revenue streams together represented 14% of third-quarter protocol revenue and did not require additional trading volume.