# Fees Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Fees", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Hyperliquid Trading Volume Soars, So Why Are Profits Falling?

Hyperliquid, a leading decentralized perpetuals trading platform, has seen its open interest surge to a record high above $11 billion, capturing roughly 9% of the global market share. Trading volume remains robust, nearing $178 billion over 30 days, driven largely by the explosive growth of third-party markets offering tokenized real-world assets (RWAs) like stocks and commodities. Despite this growth, the platform's protocol revenue has declined for four consecutive quarters, falling 43% from its Q3 2025 peak of $357 million to approximately $202 million in Q2 2026. This divergence is primarily attributed to the HIP-3 governance proposal, which allows external developers to launch their own markets and keep up to half of the generated fees. These third-party markets now account for nearly 50% of total volume. Consequently, the share of revenue redistributed to developers, market makers, and the treasury has tripled from 6% to 18% in a year. This directly reduces the funds allocated to the platform's buyback-and-burn mechanism for its native HYPE token, weakening a key price support. HYPE's price has fallen 28% from its all-time high. The platform's growth is also heavily concentrated, with a single entity, Trade.xyz, responsible for over 90% of HIP-3 open interest, introducing systemic risk. Additionally, the ecosystem lacks diversity beyond HYPE, faces ongoing token unlocks adding sell pressure, and is encountering increased regulatory scrutiny and new competition from platforms like Robinhood Chain. While still a major revenue generator in crypto, Hyperliquid's model of sharing fees to fuel expansion is currently compressing its own earnings and token economics.

marsbit34m ago

Hyperliquid Trading Volume Soars, So Why Are Profits Falling?

marsbit34m ago

The Launch Event Became a Make-up Ceremony? Why Hasn't Pools.trade Spawned a High-Market-Cap Meme Coin Yet?

Uniswap's new token launchpad, Pools.trade, debuted on Robinhood Chain but was overshadowed by pre-launch trading, raising fairness concerns. Despite generating over $150M in pre-launch volume and becoming a top platform by daily trade volume, it has failed to produce a high-market-cap meme coin. Key features include Instant and Crowd Launch modes, with a low 0.25% transaction fee (vs 1% on rivals), most of which is auto-reinvested into liquidity. However, its top two tokens by market cap, FRONG (~$7M) and POOLS (~$1.8M), were both minted days before the official announcement, leading to accusations of insider advantage ("sniping") and dampening community enthusiasm. The article concludes that while Pools.trade has Uniswap's infrastructure and Robinhood Chain's hype, a perceived lack of a fair launch has prevented a breakout meme coin. Success may hinge on the next token with a compelling narrative and a clean, uncontested launch.

marsbit08/07 02:36

The Launch Event Became a Make-up Ceremony? Why Hasn't Pools.trade Spawned a High-Market-Cap Meme Coin Yet?

marsbit08/07 02:36

Historic Changes Are Coming for Established Altcoin Solana (SOL)! Two Important Proposals Have Been Prepared! Here's What Awaits Us

A proposal has been submitted to bring significant changes to the altcoin Solana (SOL). Validators are putting forward two governance proposals, SIMD-0550 and SIMD-0553, aimed at reducing the supply and increasing the burn rate of SOL tokens. If approved, these changes could substantially alter Solana's current economic model. The goal is to increase the network's daily burn from the current 650 SOL (~$47,000) to 9,000 SOL (~$650,000). This acceleration could shift the target for Solana to reach a 1.5% inflation rate from the year 2032 to 2029, reducing the supply by approximately 18.9 million SOL over six years. However, some experts argue that even with the increased burn to 9,000 SOL per day, achieving a deflationary shift may remain difficult as this figure would still be below the 60,000 SOL newly issued to the market daily.

cryptonews.ru08/04 19:16

Historic Changes Are Coming for Established Altcoin Solana (SOL)! Two Important Proposals Have Been Prepared! Here's What Awaits Us

cryptonews.ru08/04 19:16

XRP Ledger v3.3.0 Release Brings Five Amendments Into Focus

The upcoming XRP Ledger v3.3.0 release, scheduled for early August, focuses on five key amendments: Confidential MPT, Batch, Permission Delegation, Sponsored Fees and Reserves, and Dynamic MPT. This bundle aims to enhance the ledger's infrastructure for advanced use cases like tokenized assets and improve operational flexibility and user experience. Notably, Sponsored Fees could reduce onboarding friction by allowing third parties to cover transaction costs, while Confidential and Dynamic MPT features provide more control for institutional asset tokenization. Batch transactions and Permission Delegation add operational efficiency for applications. However, these features do not activate automatically upon release; they require approval from 80% of network validators. The upgrade represents a significant step in XRPL's roadmap for enterprise and developer utility, with practical impact dependent on subsequent validator consensus and builder adoption.

bitcoinist08/03 05:46

XRP Ledger v3.3.0 Release Brings Five Amendments Into Focus

bitcoinist08/03 05:46

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

Bitcoin miners are capitulating as evidenced by a sustained drop in network hash rate and a record-steep 19.9% decline in mining difficulty, signaling the shuttering of unprofitable machines. However, in a significant divergence from historical patterns, the stocks of publicly traded mining companies have soared, with one major player gaining over 430% in the past year, even as BTC's price fell roughly 46%. This surge is largely attributed to these companies pivoting toward the more lucrative AI narrative. Simultaneously, miners face a structural squeeze. Daily block reward revenue in BTC terms has hit a new all-time low following the latest halving, with current dollar-denominated daily revenue around $30 million compared to a longer-term average of ~$40 million. Fee revenue remains negligible, covering less than one block's subsidy over a 28-day average and accounting for only about ten minutes of the network's daily security budget. This capitulation cycle is unique: miner stress and crypto price weakness have decoupled due to alternative revenue streams (AI), while the long-term reliance on increasing bitcoin prices to offset shrinking subsidies continues, with fee income still far from filling the impending gap.

marsbit08/03 02:10

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

marsbit08/03 02:10

Bank of Italy Finds No Systemic Advantages of Stablecoins in Transfers

A study by the Bank of Italy found that stablecoins do not offer a consistent advantage in cost or speed for cross-border money transfers. The research compared sending 200 USDC in 10 bilateral corridors (Italy to Brazil, Argentina, Japan, UAE, and South Africa) against standard money transfer services. While the final cost of stablecoin transfers ranged from 0.3% to nearly 9%, and were often cheaper than the global average cost of 6.65%, they only outperformed services like Wise in three out of seven comparable corridors. Key costs and delays were attributed to fees for converting to and from fiat currency and the quality of local payment infrastructure, not blockchain fees. Transfer times varied from under 20 minutes in corridors with instant payment systems to one or two business days where such infrastructure was lacking. The authors concluded that stablecoins' benefits would be more significant if they could be spent directly without conversion and noted that overly restrictive regulations complicate retail use without eliminating demand.

cryptonews.ru08/02 21:17

Bank of Italy Finds No Systemic Advantages of Stablecoins in Transfers

cryptonews.ru08/02 21:17

Research: Bitcoin Miner Capitulation Has Dragged On for 287 Days

Research indicates that the capitulation phase for Bitcoin miners has extended for 287 consecutive days, marking one of the longest periods of declining network hash rate. This has led to a 19.9% drop in mining difficulty from its peak. Typically, miner stocks are highly correlated with Bitcoin's price, but recently they have diverged. While Bitcoin lost about 46% of its value over the past year, stocks of major public mining companies like Hut 8, Riot Platforms, and HIVE Digital saw significant gains. Analysts attribute this to the industry's pivot towards providing computing infrastructure for artificial intelligence, shifting investor focus away from pure Bitcoin exposure. Miners' revenue is under pressure. The daily block reward revenue has hit a historic low, partly due to the hash rate decline delaying block times. The Puell Multiple indicator shows daily revenues around $30 million, below the yearly average of ~$40 million. Transaction fees remain minimal, contributing only about $200,000 daily. Currently, fees collected over 28 days do not cover the reward for a single block, meaning fees fund only about ten minutes of the network's daily operation. This is a stark contrast to past cycles where fee revenue occasionally spiked to significant levels. The report concludes that the current mining downturn lacks a clear, singular cause like past events, such as China's mining ban.

cryptonews.ru08/01 19:25

Research: Bitcoin Miner Capitulation Has Dragged On for 287 Days

cryptonews.ru08/01 19:25

Michael Saylor: 110 Reasons to Oppose BIP-110

Michael Saylor presents 110 arguments against Bitcoin Improvement Proposal (BIP) 110, a soft fork aimed at restricting certain non-monetary data storage uses (like inscriptions) on the Bitcoin blockchain. He acknowledges the proponents' valid concerns—such as node costs, fee pressure, and preserving Bitcoin's monetary focus—but fundamentally disagrees with the proposed solution. Saylor argues that BIP 110 represents a dangerous precedent of using consensus rules to enforce value judgments on transaction validity, moving away from Bitcoin's core principles of neutrality and permissionless innovation. His key objections are organized into eleven categories: 1) It violates neutrality and hard consensus by banning currently valid transactions. 2) It fails to meet the high burden of proof required for a consensus change, lacking concrete data on the alleged crisis. 3) Its seven bundled technical restrictions are overly broad, targeting generic script functionalities and blocking future upgrade paths. 4) It sacrifices compatibility and future optionality by closing off designed upgrade hooks. 5) Its temporary rules add significant complexity (grandfathering, expiry states) without sufficient justification. 6) The economic and security impacts, particularly on miner revenue and fee markets, are uncertain and unmodeled. 7) Superior, market-based tools (fee markets, relay/mining policies) already exist to manage blockchain load. 8) It stifles innovation by creating a chilling effect for developers. 9) Its modified activation mechanism (55% threshold, forced signaling) is aggressive and risks network splits. 10) The precedent it sets—using consensus to suppress disliked but legal uses—is more dangerous than the problem it aims to solve. 11) A better path exists: improving measurements, refining resource-based policies, and allowing market forces to work. Saylor concludes that Bitcoin's strength lies in its neutral rules, open markets, and hard consensus. Changing these foundational elements to target specific use cases is an unnecessary and risky "iatrogenic" intervention. He advocates for guarding Bitcoin's neutrality rather than acting as its redeemer.

marsbit07/22 00:06

Michael Saylor: 110 Reasons to Oppose BIP-110

marsbit07/22 00:06

Hyperliquid Opens Prediction Market Deployment: Stake $30 Million HYPE Tokens for Up to 50% Fee Share

Hyperliquid, a decentralized exchange, is opening its prediction market infrastructure to public deployment following its HIP-4 upgrade. To launch a market, deployers must stake 500,000 HYPE tokens (approx. $30M), which can be slashed if validators rule the market was poorly defined or settled incorrectly. In return, creators can earn up to 50% of the market's trading fees. This "skin in the game" model contrasts with curated platforms like Polymarket and Kalshi. The move comes as prediction markets see record volumes, surpassing $50B in June. While Hyperliquid's current share is small ($176M), its permissionless approach could significantly disrupt the sector. The feature will launch first on testnet before moving to mainnet. The article also includes brief market updates: major cryptocurrencies posted weekly gains; prediction markets had a record summer; Bitcoin and Ethereum ETFs saw net inflows; and notable movements occurred in memecoins and NFTs.

marsbit07/21 09:37

Hyperliquid Opens Prediction Market Deployment: Stake $30 Million HYPE Tokens for Up to 50% Fee Share

marsbit07/21 09:37

Vlad Follows Pons, Pons Seizes the Throne of the Robinhood Chain Launchpad?

Robinhood CEO Vlad Tenev recently followed Pons founder @MEADGod and an active Pons user, drawing market attention to the new launchpad on Robinhood Chain. Despite this social buzz not being an official endorsement, it has fueled interest in Pons, which has rapidly grown to lead in token launches and trading volume within a week since its launch. Pons functions as a token launch system on Robinhood Chain, enabling one-click token creation with an Uniswap V3 liquidity pool. Unlike some competitors, it avoids bonding curves and direct migrations. Its key feature is a fee-sharing model where creators earn most trading fees, while a portion of protocol fees is used to buy back and burn its native PONS token. However, Pons faces challenges. While it has a high launch count, the success rate of tokens reaching significant market capitalization is low, raising questions about its ability to generate lasting wealth effects and retain users. Competitors are approaching the market with different strategies, and Vlad Tenev's attention, while a short-term boost, may not guarantee sustained growth if it only triggers speculative trading. Pons currently holds a leading position in launch volume, but its long-term success depends on evolving from a high-frequency launch platform to one that consistently cultivates high-value projects and fosters user loyalty.

Foresight News07/21 04:07

Vlad Follows Pons, Pons Seizes the Throne of the Robinhood Chain Launchpad?

Foresight News07/21 04:07

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