Coinbase and Circle begin Hyperliquid operations.
Both companies are following through with their earlier announcements in May to support the Hyperliquid stablecoin ecosystem. USDC has started to be deployed across new addresses, with Circle focusing on the technical assistance and Coinbase on the treasury management.
Hyperliquid is continuing to grow in popularity.
The protocol for trading is becoming the place to trade different 24/7 markets, including various traditional macro and new markets, such as commodities and pre-IPO indications.
It is also bringing in trading revenue and rakes in a high amount of fees in contrast to other older protocols and blockchain networks, with around $882M for the former and $1B for the latter (both annualized).
As it stands, the agreement between Hyperliquid and the two companies appears to likely result in more annual revenue being added from USDC processed on its platform.
