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Following
HYPE Hyperliquid plans to triple HIP-3 fees to boost agreement revenue and HYPE repurchase efforts.
Critics have warned that higher transaction costs could reduce user adoption and weaken trading activity. HYPE needs to regain its footing at the $60 mark to confirm a stronger bullish trend.
Hyperliquid has once again sparked widespread discussion in the cryptocurrency market. The project plans to increase fees for HIP-3 tokenized perpetual assets in future upgrades. Proponents expect this to lead to stronger agreement revenue and larger HYPE buybacks. Critics worry that traders may switch to lower-cost alternative platforms. Given that HIP-3 contributes most trading activity, this decision carries significant weight. Market participants are paying close attention to whether higher fees will enhance long-term value or slow down platform growth.
Higher fees may enhance revenue and HYPE repurchase
Hyperliquid plans to triple HIP-3 fees in future network upgrades. The price increase will only apply to certain listed assets. Project founder Jeff Yan confirmed that the change will not affect all markets. Currently, HIP-3 deployers enjoy a 90% discount because the area is still in growth mode. The team now believes that the time is ripe to gradually reduce this discount as adoption increases. The exact launch date has not yet been announced.
Several analysts welcomed the proposal. Ryan Watkins, founder of Syncracy Capital, expects this to boost agreement revenue. In the current revenue allocation mechanism, half of the transaction revenue goes to the deployer, and Hyperliquid receives the remaining half through agreement fees. Almost all of the agreement revenue goes to support the aid fund, which buys back HYPE from the open market. There is also a small amount of money to support Hyperliquidity Providers. Analyst Tobias Reisner believes higher fee income is expected to strengthen repurchase activity over time. Watkins also pointed out that if trading activity remains healthy, gradually increasing fees can significantly improve HIP-3 's revenue. This growth will benefit both the Agreement and HYPE holders.
Markets are watching closely, adoption rates remain the focus
Not everyone supports this proposal. Some analysts believe that higher costs could undermine Hyperliquid's competitive advantage. Analyst Wazzz believes the price increase could prompt traders to choose lower-cost platforms. This concern is noteworthy because HIP-3 contributes more than 60% of total trading volume. TradeXYZ remains the largest contributor in this category. Any slowdown in trading activity could affect trading volume and agreement revenue. Recent financial data highlights this challenge.
Hyperliquid generated $57.5 million in revenue in June, its strongest monthly performance since November. HYPE also outperformed the broader cryptocurrency market with a 79% increase, once approaching an all-time high. However, the situation in July was different: revenue fell to about $38 million. Slowing revenue has also slowed the pace of HYPE's buybacks. Market participants are currently waiting for stronger trading activity to emerge before returning to full-blown bullish. HYPE has recently risen 13%, showing preliminary signs of recovery. Even so, buyers still face an important technical challenge: Prices must regain the $60 mark, which coincides with the 50-day index moving average. Successful breakthroughs in the region will strengthen short-term prospects. Until then, the market will continue to weigh the pros and cons of higher revenue against potential adoption risks.
