Hyperliquid Tops Fees at $11M Weekly, Grabbing 43% Share Over Ethereum, Solana

Hyperliquid surged to $11 million in weekly blockchain fees, capturing 43% market share from futures trading, while Ethereum earned $3 million (13%) and Solana $2 million (10%), signaling a shift to specialized chains. Coverage began May 10 comparing Ethereum's $281B market cap and $164.1B stablecoins against Solana's 1.67M active addresses and volatility. Milestones included Solana's 696M weekly transactions (54% share) and BlackRock's $6.1B Ethereum fund despite Solana's edge, followed by combined $45B DEX volumes on May 13, now pressuring L1s for high-value use cases.