Hyperliquid's USDC deal could supercharge HYPE, pressure Circle, Coinbase margins, analysts say
60-second summary
Hyperliquid's USDC deal is expected to supercharge HYPE, shifting an estimated $160 million in revenue from Coinbase and Circle into its ecosystem, according to Compass Point analysts. This significant revenue influx could bolster HYPE's growth, pressure Circle's and Coinbase's margins, and intensify competition in the stablecoin market, potentially reshaping the industry landscape.
The revenue share deal could shift an estimated $160 million in revenue from Coinbase and Circle into Hyperliquid's ecosystem, Compass Point analysts said.