According to CoinMeta, the revenue of the hyperliquid protocol in the third quarter reached $190.9 million, a month-on-month increase of 21.7%, setting a new record for a single quarter in 2026. The reserve earnings of USDC have accumulated to $17.3 million since August 27th, accounting for about half of the revenue increment for this quarter. The priority transaction fee amounted to $9.6 million, a month-on-month increase of 3.3 times. These two sources of revenue together accounted for 14% of the total revenue of the protocol in the third quarter.