Hyperliquid reported a 250% quarterly surge in net income to $30.95 million, with adjusted EBITDA jumping 175% to $53.65 million. The protocol’s gross HYPE holdings rose 87% to $132.64 million, while whales now control 56% of the total token supply. Trading volume increased 37% to $264 million, with 75% of market exposure in long positions. The network also introduced a new HIP-1 function for tokenized stock corporate actions.
Hyperliquid is gaining momentum after reporting robust Q2 financials that bolster its recent bullish trend. The protocol’s net income grew 250% quarter-over-quarter to $30.95 million, while adjusted EBITDA surged to $53.65 million from $19.51 million.
These figures indicate growing underlying profitability that provides fundamental support for the HYPE token. The protocol’s gross HYPE holdings jumped 87% to $132.64 million, strengthening its balance sheet.
The financial release coincides with the rollout of the HIP-1 scaleWei Function, which supports corporate actions for tokenized stocks. Hyperliquid founder Jeff said HIP-1 will add a deployer-controlled scaleWei function that can atomically distribute tokens in proportion to users’ holdings of a reference token.
On-chain metrics reflect the bullish fundamentals. Data shows whales own about 56% of the HYPE token’s total circulation, indicating significant exposure from large holders. High whale concentration could amplify the token’s price movements.
Most holders and traders are long, with 75% of total market exposure in long positions. Trading volume rose 37% to approximately $264 million, showing increased capital flow through the token’s markets.
With HYPE holding above its 20-day EMA and defending a key $50-$55 imbalance zone, the token’s on-chain and fundamental metrics point to sustained buyer interest.
