Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
HYPE Surpasses TRX in Fee Generation; Questions Arise About Long-Term Dominance

HYPE Surpasses TRX in Fee Generation; Questions Arise About Long-Term Dominance

CoinotagCoinotag2025/04/25 16:00
By:Crypto Vira

In a surprising market shift, Hyperliquid’s HYPE has swiftly surpassed Tron (TRX), marking a pivotal moment in the ongoing crypto evolution.

  • After an extended streak of generating the most fees, TRX has been overthrown by HYPE in the past 24 hours.

  • A comparison of both assets shows that Hyperliquid can lead Tron further.

In the past 24 hours, Hyperliquid [HYPE] surged, with its price jumping 4.03%, while Tron [TRX] bowed to sell pressure, losing a meager 0.12%.

Market activity across the Hyperliquid protocol drove this surge in HYPE’s value, pushing it above TRX in terms of fees generated. Insights show HYPE could likely maintain this level, but not without a condition.

How HYPE overtakes TRX, generates more fees

In the past 24 hours, Hyperliquid generated the most fees in the market, surpassing Tron—a level the latter had maintained week in and week out.

HYPE Surpasses TRX in Fee Generation; Questions Arise About Long-Term Dominance image 0

Source: Artemis

According to Artemis data, Hyperliquid generated $2 million in fees, while Tron generated $1.9 million.

While the $100,000 difference remains slim, analysis shows the gap could widen over time in favor of HYPE as market sentiment begins to shift.

COINOTAG analysis explained why Tron slowed down and how HYPE stepped up to claim this new position. The number of transactions—an indication of on-chain activity—shows a distinct difference.

HYPE Surpasses TRX in Fee Generation; Questions Arise About Long-Term Dominance image 1

Source: Artemis

In the past 24 hours, HYPE’s transaction count rose significantly, increasing from 296.3 million to 424.5 million. On the other hand, Tron’s transactions fell by 100,000, from 8.5 million to 8.4 million.

This also impacted decentralized exchanges (DEXs). Tron maintained a flat trading volume for two days at $163.6 million, while Hyperliquid climbed from $153.9 million to $169.4 million, surpassing Tron.

HYPE Surpasses TRX in Fee Generation; Questions Arise About Long-Term Dominance image 2

Source: Artemis

In fact, the general spot market HYPE’s volume jumped from $6.6 billion to $9.9 billion, nearing the double-digit threshold.

Interestingly, analysis shows that a major contributor to its success is its ability to attract new on-chain users, with unique users reaching 22.1k, compared to Tron’s average monthly retention of just 4%.

HYPE Surpasses TRX in Fee Generation; Questions Arise About Long-Term Dominance image 3

Source: Artemis

If these key metrics continue to rise, Hyperliquid stands a strong chance against Tron.

However, other market indicators suggest it may not have a complete edge, raising questions about how long HYPE can sustain this lead.

Will HYPE maintain its position?

HYPE’s continued dominance may face a threat from its rising supply. Currently, the staked Native which tracks the total amount staked in HYPE has continued to decline.

From a high of 429.7 million, it has dropped to 416.7 million, meaning 13 million HYPE has entered the market. If this trend continues, the asset could face a price decline.

Interestingly, the amount of stablecoin deployed on Tron has reached an all-time high of $71.4 billion, signaling massive interest. This gives Tron a bullish edge that could enable a rally to the upside.

Conclusion

In summary, as Hyperliquid (HYPE) overtakes Tron (TRX) in fee generation, the market landscape could be witnessing a significant shift. HYPE’s impressive transaction volumes and new user growth set a high benchmark; however, moderated supply could hinder its potential. Both assets’ future will be pivotal as market dynamics evolve.

In Case You Missed It: CME Group to Launch XRP Futures, Expanding Trading Opportunities in the Cryptocurrency Market
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

VIPBitget VIP Weekly Research Insights

In 2025, the stablecoin market shows strong signs of growth. Research indicates that the market cap of USD-pegged stablecoins has surged 46% year-over-year, with total trading volume reaching $27.6 trillion, surpassing the combined volume of Visa and Mastercard transactions in 2024. The average circulating supply is also up 28% from the previous year, reflecting sustained market demand. Once used primarily for crypto trading and DeFi collateral, stablecoins are now expanding into cross-border payments and real-world asset management, reinforcing their growing importance in the global financial system. More banks and enterprises are starting to issue their own stablecoins. Standard Chartered launched an HKD-backed stablecoin, and PayPal issued PYUSD. The CEO of Bank of America has expressed interest in launching a stablecoin once regulations permit (via CNBC). Fidelity is developing its own USD stablecoin, while JPMorgan Chase and Bank of America plan to follow suit when market conditions stabilize. Meanwhile, World Liberty Financial (backed by the Trump family) has introduced USD1, backed by assets such as government bonds and cash.

Bitget VIP2025/04/25 06:05
Bitget VIP Weekly Research Insights