Market Share & Revenue - Hyperliquid captures 50% of all crypto perpetuals open interest [1] - Hyperliquid generates $90 million monthly fees from traders' losses [1] Trader Performance & Losses - Traders on Hyperliquid lose at an 86% rate [1] - Average daily loss per losing trader is $5,600 [1] Token Performance & Protocol Design - HYPE token is down 40% from launch [1] - The protocol is designed for wealth extraction rather than value accrual [1] Market Control - Five market making entities control 68% of open positions [1]