Earlier reports highlighted Hyperliquid's robust performance, noting that the protocol was generating approximately $2 million in daily fees, surpassing the Ethereum mainnet at the time. The platform was praised for absorbing substantial token unlocks (valued around $9.5 billion) with a minimal price impact of just 0.41%, while directing 100% of fees to stakers. [Update 1] Recent data indicates a cooling in this momentum, with daily revenue declining to $1.08 million, marking the lowest level recorded in nearly two months. This contraction coincides with the HYPE token underperforming compared to the broader market recovery seen in Bitcoin and large-cap altcoins. Market observers attribute this price heaviness to continued selling pressure from token lock-up releases. Despite the current lag, analysts continue to view the asset as having equity-like properties, suggesting that supply dips might improve its valuation appeal in the long term.