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Hyperliquid Dominates Fees and Trading Volume, Leaving Giants Like Bitcoin, Ethereum in the Dust
Trading & Investment Tips

Hyperliquid Dominates Fees and Trading Volume, Leaving Giants Like Bitcoin, Ethereum in the Dust

by admin
written by admin


In just one year, Hyperliquid skyrocketed from $2.4 million to $41 million in fees.

Blockchain charts have evolved dramatically over the past year. Currently, the space is being dominated by Hyperliquid.

Meanwhile, traditional heavyweights like Bitcoin, Ethereum, and Solana are falling behind fast.

Hyperliquid Leads the Pack

CryptoRank’s latest data found a striking reshuffling in terms of blockchain fee leadership over the past year. Hyperliquid is emerging as the dominant force. The network’s fees skyrocketed 1,600% after surging from $2.4 million in October 2024 to a whopping $41 million in October 2025, driven by HIP-3’s launch, which paved the way for permissionless perpetuals and strategic fee reductions that fueled record trading volume.

This meteoric rise has left once-dominant networks like Ethereum and Solana in the dust, as Ethereum’s fees halved to $21.6 million and Solana saw a 34% decline to $6.6 million. This essentially reflected users’ shift to faster, cheaper alternatives and a cooldown in meme-driven activity.

Other chains like BNB Chain and Base also saw impressive growth, but none rival Hyperliquid’s explosive climb. Meanwhile, Bitcoin’s on-chain activity dwindled as fees plunged 73% during the same period amid fading Ordinals and Runes interest.

As reported by CryptoPotato earlier, Hyperliquid cemented itself as a dominant force in Q2 2025 as it registered $648 billion in trading volume for the period and $1.57 trillion over 12 months. Its revenues topped $300 million, while its share of the perpetual DEX market surpassed 60%, roughly ten times greater than the nearest rival.

This success can be attributed to the HYPE token airdrop and fair point system in late 2024, which drove massive user adoption. Meanwhile, popular traders, like James Wynn, added further attention, and the token buyback-and-burn program supported HYPE’s price stability during the said quarter.

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Even VanEck researchers noted that Hyperliquid effectively lured high-value users from Solana.

HYPE Faces Sell Pressure

Lately, however, HYPE has experienced considerable volatility. It started the week above $45 before tumbling sharply on October 11 and settling into a downtrend through October 17. Despite brief recoveries, the token failed to regain previous highs and wrapped up the period at $34.2, coinciding with the broader market plunge.

The latest downturn has pushed HYPE’s monthly losses to 38.36%.

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Cryptocurrency charts by TradingView.

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Ether
Trading & Investment Tips

Ethereum Crash Becomes BitMine’s Buying Spree — $1.5B Added Despite Warning

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

BitMine’s large buy and a string of public warnings have left markets watching Ethereum closely this week. Big moves were made during the sell-off, and firms and investors are now weighing whether those buys mean confidence or simply a bet on a rebound.

Large Scale Accumulation Continues

According to onchain data from Arkham Intelligence and the tracker ‘BMNR Bullz’, BitMine Immersion Technologies bought a total of 379,271 ETH in three separate purchases: 202,037 ETH after the weekend crash, 104,336 ETH on Thursday, and 72,898 ETH on Saturday.

Reports have disclosed the haul is worth almost $1.5 billion. The purchases have not been officially confirmed by BitMine, but the transfers were visible on public ledgers.

BitMine’s Position And Timing

BitMine is reported to hold more than 3 million ETH, which equates to about 2.5% of the entire supply, and that stash was valued at roughly $11.7 billion at recent prices.

Based on reports, the firm has set a goal of reaching 5% of supply and only began building the treasury in early July when Ether was near $2,500.

Tom Lee of Fundstrat has also been buying — he said he purchased $1.5 billion worth of Ether since the market crash — signaling that some large players see long-term upside.

ETHUSD now trading at $3,917. Chart: TradingView

Questions Raised About DAT Pricing

Reports say Lee warned that the hype around digital asset treasuries, or DATs, may be fading, with many DATs trading at or below their net asset value (NAV).

Research firm 10x Research reported that several major DATs were near or under NAV. That has led investors to ask whether the trading discounts reflect lasting trouble or a brief market reset.

Huobi founder Li Lin is reportedly raising about $1 billion to put into an Ether treasury, which shows some firms still want exposure despite the cheap trading levels.

Bullish Views Meet Market Stress

According to Lee, Ethereum could “flip” Bitcoin in a way he compared to how Wall Street and equities overtook gold after 1971. He also warned investors are still “licking their wounds” from a record leverage flush.

Markets are down 15% from the October 7 high, while gold has eased about 3% from its peak. Those moves are shaping where big holders place their bets.

Network Strain

Meanwhile, based on social posts and blockchain data, Kevin O’Leary sounded the alarm about congestion on Ethereum after fees spiked during the sell-off.

He wrote that simple transactions briefly carried fees of as much as $1,000, calling attention to limits in handling sudden demand.

Etherscan data showed average daily gas prices hit a nine-month high last Friday, which was confirmed by market trackers.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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Ethereum Kimchi Premium Spikes To New High — Sign Of Impending Sell-Off?
Bitcoin & Altcoins

Ethereum Kimchi Premium Spikes To New High — Sign Of Impending Sell-Off?

by admin
written by admin

The price of Ethereum appears to be recovering nicely over the weekend after a period of investor uncertainty. The “king of altcoins”, following what looked like an aggressive return above the $4,200 level earlier this week, is now lagging under the psychological $4,000 mark.

While the Ethereum price has been building some positive momentum over the past day, the shadows of the October 10 downturn still seem to be weighing on investor sentiment. A market phenomenon known as the “Kimchi Premium” suggests a few tedious weeks ahead for the second-largest cryptocurrency.

What Happened Last Time Kimchi Premium Saw A Similar Surge

In a recent post on the social media platform X, market analyst CryptoOnchain revealed that the Kimchi Premium has been on the rise over the past weeks. This observation is based on the movement of the on-chain indicator Korea Premium Index, which measures the price difference between South Korean exchanges and other global exchanges.

This metric, or the “Kimchi Premium,” shows how much extra Korean traders are willing to pay for a particular cryptocurrency (Ethereum, in this case). When the index is positive, it means that Korean retailers are willing to pay a premium for the crypto assets. Meanwhile, a negative Korean Premium Index signals that the retailers are only willing to buy the cryptocurrency at a discount.

According to CryptoOnchain, the Korea Premium Index for Ethereum recently saw a notable surge to around 8.2%, its second-highest level this year. The market analyst noted that this level of Kimchi Premium is a troubling sign, as it historically suggests extreme retail FOMO (Fear of Missing Out) and a potential price top.

Typically, whales tend to take advantage of the price gap by selling on Korean exchanges when the Korea Premium Index is on the rise. Due to increased selling pressure, the Ethereum price now faces a greater risk of correction.

For instance, the last time ETH saw a Kimchi Premium this high was in January, coinciding with the price fall to around $1,500. With this in mind, investors might want to tread with caution, as the odds of a sustained downward trend are significantly higher.

Ethereum Price At A Glance

As of this writing, the price of ETH stands at around $3,875, reflecting no significant change in the past 24 hours. In what was expected to be a bullish period for the cryptocurrency market, “Uptober” has not particularly lived up to the expectations of investors. After a positive start to the month, the Ethereum price is currently down by almost 10%.

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Ethereum Scalability Challenges: O’Leary Critiques ETH Fees
Crypto Regulations

Ethereum Scalability Challenges: O’Leary Critiques ETH Fees

by admin
written by admin

On October 17, 2025, Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, experienced a notable downturn, trading near $3,870 after losing almost 4% intraday. The decline coincided with a broader cryptocurrency market correction, which saw over $100 billion wiped from the market in just three hours. Amid this turbulent period, Canadian businessman and “Shark Tank” star Kevin O’Leary made headlines for criticizing Ethereum’s network scalability and high gas fees, sparking both debate and controversy across the crypto community.

O’Leary Slams Ethereum’s Scalability and Gas Fees

Kevin O’Leary, a prominent investor known for his outspoken views, argued that Ethereum’s network struggles under real-world usage, especially as adoption increases. He emphasized network congestion as a major hurdle for Ethereum, claiming that transaction fees are excessively high. Speaking on the issue, O’Leary jokingly remarked:

“It’s like paying a thousand-dollar toll to drive on a one-lane highway.”

While his figure was clearly hyperbolic, the statement highlights a long-standing concern within the crypto world: Ethereum’s ability to scale efficiently as more users and applications join the network. Ethereum’s current Layer-1 blockchain, though secure and widely adopted, faces limitations in transaction throughput, which can lead to increased fees and slower confirmation times during periods of high activity.

Community Pushback and Clarifications

Ethereum supporters were quick to respond to O’Leary’s critique. Many pointed out that typical gas fees for standard transactions are far lower than the $1,000 figure cited. For instance, simple token swaps or transfers generally cost around $20 to $30 under normal network conditions. Advocates argued that O’Leary’s exaggeration misrepresents Ethereum’s actual user experience.

Adriano Feria, a well-known Ethereum advocate, explained:

“Criticizing Ethereum’s gas fees is like complaining airplane wheels are too small. It misses the network’s purpose of providing security, neutrality, and auditability.”

The Ethereum community also highlighted ongoing Layer-2 solutions and scaling upgrades aimed at addressing congestion and reducing transaction costs. Technologies such as rollups, sidechains, and sharding are expected to improve throughput and affordability, ensuring Ethereum remains competitive as decentralized finance (DeFi), non-fungible tokens (NFTs), and other applications expand.

Market Context: Ethereum Price and Technical Analysis

O’Leary’s comments came at a critical juncture for ETH. The cryptocurrency’s recent price action shows a 3.92% decline, dipping from an intraday high of $4,076 to a low of $3,835. Technical indicators signal caution. The weekly Relative Strength Index (RSI) has dropped below the 14-day exponential moving average (EMA), a historically strong sell signal.

Historically, similar patterns near the $4,100 level have preceded significant declines for Ethereum, with past drops reaching 49% and 63%, touching or dipping below the 200-day EMA. If history repeats itself, ETH could potentially fall to $2,500—a 37.5% decline from current levels. However, the trendline support around $3,500 may provide near-term stabilization, limiting losses to approximately 12.5% in a milder pullback scenario.

This combination of technical weakness and heightened market volatility underscores the importance of monitoring Ethereum’s price action closely, particularly during periods of macroeconomic uncertainty. Investors and traders are watching ETH’s movement alongside Bitcoin (BTC) and broader crypto indices, seeking insights into potential trend reversals or further downside pressure.

O’Leary’s Crypto Strategy and Focus

Beyond Ethereum, Kevin O’Leary emphasized his broader crypto investment strategy. He revealed plans to focus exclusively on Bitcoin and Ethereum, excluding smaller altcoins from his portfolio. According to O’Leary, these two assets cover roughly 90% of the crypto market exposure he seeks, reflecting his belief in their dominant role in the digital asset ecosystem.

His strategy underscores a key trend in institutional adoption: major investors are increasingly concentrating on established cryptocurrencies with proven networks and liquidity, rather than speculative smaller tokens. This trend may influence market dynamics, as institutional flows into BTC and ETH continue to shape pricing, liquidity, and overall market sentiment.

Ethereum’s Role in the Blockchain Economy

Despite O’Leary’s critique, Ethereum remains foundational to the blockchain ecosystem. The network supports smart contracts, decentralized applications (dApps), decentralized finance (DeFi), NFTs, and tokenized assets, forming the backbone of the digital economy.

Ethereum’s scalability concerns, while notable, are part of the natural evolution of any growing network. The Ethereum Foundation and community developers are actively working on network upgrades, including Ethereum 2.0 sharding and improved Layer-2 solutions, to enhance throughput, reduce fees, and increase transaction efficiency. These innovations aim to ensure Ethereum can handle increased adoption while maintaining decentralization and security.

Balancing Criticism and Innovation

Kevin O’Leary’s remarks serve as a reminder of the scrutiny facing Ethereum as it navigates real-world adoption. High-profile critiques can influence market sentiment, especially among retail investors. However, the ongoing development and implementation of scaling solutions suggest that Ethereum’s challenges are not insurmountable.

The network’s growth trajectory, coupled with institutional adoption, underscores the importance of balancing short-term criticisms with long-term technological progress. Investors and developers alike are watching closely to see whether Ethereum can maintain its leadership position while addressing scalability and fee concerns.

Conclusion

Kevin O’Leary’s criticism of Ethereum’s network scalability and gas fees highlights ongoing debates in the crypto space about usability, adoption, and network efficiency. While his comments sparked community pushback, they also underscore the importance of scalability as Ethereum continues to grow as a core blockchain infrastructure.

Technical indicators show ETH is currently under pressure, and market participants are closely monitoring key support levels around $3,500. Meanwhile, Ethereum’s ongoing upgrades and Layer-2 adoption efforts may gradually alleviate congestion and improve fee structures.

For investors, O’Leary’s critique is both a cautionary note and an opportunity to assess Ethereum’s resilience. The network remains integral to the blockchain economy, and its ability to scale effectively will likely define its future role in the global digital asset landscape.


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Can Ethereum Reclaim $4,500 in October?
NFT Marketplace

Can Ethereum Reclaim $4,500 in October?

by admin
written by admin

Key takeaways:

  • Ether’s rebound from a key support confluence puts $4,500 back within reach.

  • MVRV bands show ETH price holding above support, and eyeing a rally to $5,000.

Ethereum’s native token, Ether (ETH), has rebounded by more than 15% two weeks after plunging to its two-month low of $3,435. Multiple indicators now hint that ETH may extend its recovery toward $4,500 by the end of October.

ETH price bull flag bounce in play

Ethereum’s rebound appears to be forming within a bull flag pattern, a structure that often signals the continuation of a prevailing uptrend following a brief consolidation.

In ETH’s case, the flag is represented by a descending parallel channel, developing after the sharp rally from its April low near $2,500 to the August high around $4,950, as shown below.

ETH/USDT daily chart. Source: TradingView

The latest bounce from the channel’s lower boundary near $3,500 coincides with support from the 200-day exponential moving average (200-day EMA; the blue wave), a level that has historically attracted dip buyers during bull markets.

ETH could target a breakout toward the channel’s upper boundary, around the $4,450-4,500 area in October, if the recovery momentum sustains.

The interim upside target aligns with analyst FOUR’s double bottom technical setup, which shows ETH’s price to hit the structure’s neckline resistance at $4,750 in the coming days.

Source: X

Trader Luca further anticipated ETH rallying toward $4,500 (the red area in the chart below), given it has held above its “weekly bull market support band,” represented via the yellow area.

ETH/USD daily chart. Source: X/@CrypticTrades_

Meanwhile, a breakout above the area could send the price toward the bull flag target above $5,200, a potential record high, by November.

ETH/USDT daily chart. Source: TradingView

A breakdown below the support confluence, the bull flag’s lower boundary and the 200-day EMA support (the blue wave) around $3,550, could invalidate the pattern, exposing ETH to deeper retracements toward $3,000-3,200.

Ethereum MVRV doubles down on $4,500 target

Ethereum’s MVRV Extreme Deviation Pricing Bands show that its recent pullback has been stabilizing near the mean band around $3,900, a level that has historically served as a springboard for new rallies.

Related: BitMine accumulates $1.5B in Ether since crash despite Lee’s treasury bubble fears

Each time ETH has bounced off this midpoint, including in early 2021, mid-2023, and early 2024, it has advanced toward the +1σ (standard deviation) band, currently hovering near $5,000.

Ethereum MVRV extreme deviation pricing bands. Source: Glassnode

This structure suggests ETH remains in the “healthy correction” phase of its ongoing bull cycle, rather than signaling exhaustion. A push toward the $4,500–$5,000 zone by late October appears statistically probable if the mean level continues to hold as support.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.