Home / HYPE (August 2026)

Hyperliquid is a blockchain like Bitcoin or Ethereum but it has an exchange built on top of it so you can trade assets like cryptocurrencies, tokenized stocks, etc. Think of it like Fidelity but it's on a blockchain, so instead of a big company full of employees doing stuff it's digitized, and if other people want to build apps on the infrastructure, they can pay to do so without anyone's permission.

Hyperliquid is arguably the most profitable company per employee of all time. They are doing $1.2B in annualized revenue with 12 employees (this is fees on trades, not trading volume which is ~$10B a day), so about $100M revenue per employee. For comparison, many large software startups, which are among the highest margin businesses, aim for ~$1M in revenue per employee (Google is $2M).

The funny thing is that not a single one of my friends outside of crypto has ever heard of Hyperliquid and we're in a bear market, when crypto sentiment couldn't be lower. Perhaps this is a glitch, when a tiny team struck gold and it won't last. Or perhaps we'll look back and say I can't believe more people weren't paying attention to what was obviously going to one day become the future.