Analyst: Hyperliquid's per capita revenue is approximately US$56.42 million, far exceeding traditional trading platforms such as CME Stock Exchange

Hyperliquid ecosystem analyst il.hl released data comparison saying that Hyperliquid's per capita revenue reached approximately US$56.42 million, which is significantly higher than traditional financial and crypto trading platforms. Its comparative data shows: 1. Hyperliquid: approximately US$790 million in revenue, approximately US$20.6 billion valuation, 14 employees, close to 100% profit margin;2. Robinhood: approximately US$4.47 billion in revenue, approximately US$97.2 billion valuation, approximately 2,400 employees, approximately 42% profit margin;3. CME: Approximately US$6.52 billion in revenue, approximately US$88.5 billion in valuation, approximately 3,800 employees, and approximately 62% profit margin;4. Nasdaq: approximately US$8.26 billion in revenue, approximately US$46.5 billion in valuation, approximately 9,200 employees, approximately 22% profit margin. Analysis shows that Hyperliquid achieves extremely high efficiency under the "protocol-level infrastructure" model: revenue is almost equal to net profit, and operating costs are close to extremely low levels, reflecting the structural characteristic of "revenue does not grow linearly with personnel." However, the current advantage is based on a stage where regulatory and compliance costs have not yet been fully reflected. If compliance pressure increases in the future, profit margins may converge.