Analyst: Hyperliquid's per capita revenue is approximately $56.42 million, far exceeding traditional trading platforms like CME

Odaily Planet Daily News, on-chain analyst il.hl of the Hyperliquid ecosystem released a data comparison stating that Hyperliquid's per capita revenue has reached approximately $56.42 million, significantly higher than traditional financial and crypto trading platforms. The comparison data shows:

1. Hyperliquid: Approximately $790 million in revenue, approximately $20.6 billion valuation, 14 employees, close to 100% profit margin;

2. Robinhood: Approximately $4.47 billion in revenue, approximately $97.2 billion valuation, approximately 2,400 employees, approximately 42% profit margin;

3. CME Group: Approximately $6.52 billion in revenue, approximately $88.5 billion valuation, approximately 3,800 employees, approximately 62% profit margin;

4. Nasdaq: Approximately $8.26 billion in revenue, approximately $46.5 billion valuation, approximately 9,200 employees, approximately 22% profit margin.

The analysis shows that Hyperliquid achieves extremely high efficiency under the "protocol-level infrastructure" model: revenue is almost equivalent to net profit, and operating costs are close to extremely low levels, reflecting the structural characteristic that "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 realized. If compliance pressure increases in the future, the profit margin may narrow.