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Hyperliquid

Flagship reporting on the most successful protocol in crypto.

Quarterly Q2 2026

Hyperliquid Quarterly Report Q2 2026

HIP-3 real-world assets reach a third of volume, the first HYPE ETFs go live, and cumulative protocol revenue passes $1B

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Hyperliquid Quarterly Report Q2 2026
Q1 2026

Hyperliquid Quarterly Report Q1 2026

Revenue, volume and buyback momentum to open 2026

FY 2025

Hyperliquid Annual Report 2025

A full-year review of Hyperliquid's 2025 milestones, financials and value accrual, co-authored by Four Pillars and GLC Research

Trade.xyz

Builder-deployed markets, powered by HIP-3

Quarterly Q1 2026

Trade.xyz Q1 2026 Report

The first quarterly review of Trade.xyz's permissionless markets, listing growth and the HIP-3 thesis

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Trade.xyz Q1 2026 Report
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Co-founded by Four Pillars and GLC Research.

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Independent research. Not affiliated with Hyperliquid.
Nothing herein is investment advice.