HYPE vs Cardano: fees and TVL comparison
Post32 words
Bullish call$HYPE+136%since this piece, moved with the callHow it played out ↓HYPE is still more than 2x away from flipping ADA on circulating market cap, while Hyperliquid generated 200-400x Cardano's daily fees over the past week and has 3.5x the TVL.
Key claims
Hyperliquid generates 200-400x Cardano's daily fees
Hyperliquid has 3.5x Cardano's TVL
$HYPE still >2x away from flipping $ADA on circulating mcap.
Hyperliquid has consistently generated 200-400x the daily fees of Cardano the past week, and has 3.5x the TVL.
We're not done. t.co/zHudlPjEA7
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How the call played out · since 23 May 2025
Prices as of 23 Oct 2026This piece takes a view on $HYPE, so that move is read against the call. Other assets it covers are shown as context, not as calls.
+136%
Moved with the call · over 17 months
- At publication
- $33.25
- Now
- $78.58
- vs BTC
- +223%
- After 1 month
- +1.4%
- After 3 months
- +22%
- After 1 year
- +65%
- High since
- +192% 23 Sep 2026
- Low since
- −37% 21 Jan 2026
Mentioned for context
Since then
Zero has written 40 more pieces on Hyperliquid and $HYPE since this one.
- State of Hyperliquid: two years after the airdrop (A1 Research report)Covers $HYPE
- Hyperliquid onshore: Payward and Bitnomial's permissioned HIP-3* venueBullish call on $HYPE
- Hyperliquid's US regulatory path: HyperCore, HIP-3 deployers and buildersOn Hyperliquid
- Hyperliquid ecosystem briefing: 14 days of regulation, HIP-3/4, RWAs, revenueBullish call on $HYPE
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.