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Hyperliquid’s USDC Deal Shakes Up Stablecoin Profits 💸🔄

Revenue Shift to Hyperliquid 📈
➡️ Hyperliquid made USDC its Aligned Quote Asset with Coinbase and Circle.
➡️ The protocol now captures up to 90% of reserve income from USDC deposits — revenue that previously went mostly to Circle and Coinbase.

Big Money for HYPE Buybacks 🔥
➡️ Analysts estimate the deal could channel $135M–$160M annually to Hyperliquid for buybacks, based on ∼$5B in USDC on the platform.
➡️ If deposits grow, yield-sharing alone could add $300M–$500M in annual revenue.
➡️ HYPE is up nearly 10% in a week despite broader market weakness.

Squeeze on Circle & Coinbase ⚠️
➡️ Compass Point says the arrangement could cut $60M–$80M from Circle and Coinbase’s combined annual EBITDA.
➡️ At cunue Shift to Hyperliquid 📈
➡️ Hyperliquid made USDC its Aligned Quote Asset with Coinbase and Circle.
➡️ The protocol now captures up to 90% of reserve income from USDC deposits — revenue that previously went mostly to Circle and Coinbarrent rates, the $5.1B USDC supply generates ∼$180M gross profit for them — now largely redirected to Hyperliquid.

Domino Effect Risk � domino
➡️ Analysts warn other DeFi protocols like Polymarket and Jupiter may demand similar yield-sharing deals.
➡️ It also signals consolidation around dominant stablecoins like USDC, with fewer standalone alternatives like USDH gaining traction.

Bottom Line 🎯
➖Hyperliquid flipped the script: stablecoin yield now flows to the exchange, boosting HYPE and pressuring Circle/Coinbase margins. Other DeFi platforms may follow suit.

#️⃣#Hyperliquid #Stablecoins #CryptoNews #TokenBuybacks #DeFiRevenue

$HYPE