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EGCTRADE
Zero-sum and November on-chain contracts: Hyperliquid siphoning, retail losses of $280 million
The Hyperliquid platform took 67.6% of the monthly perpetual DEX fees (about $84.55 million),but on-chain data shows about 75% of trading addresses are in a loss.
Retail wallets on Hyperliquid have accumulated losses of about $280 million, with over half coming from fees; about 86% of new traders churn within three months, exiting after fees.
Correspondingly,about 86% of HYPE holders never trade
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