Decentralized derivatives exchange Hyperliquid has consistently outperformed traditional finance giants in terms of volume and net income.

DefiLlama data estimates Hyperliquid’s annualized net income at $1.24 billion as of Sept. 12, exceeding Nasdaq’s $1.12 billion net income for the entirety of 2024 by 11%.

The comparison positions the DeFi platform ahead of one of the world’s largest stock exchanges in net income, despite operating with just 11 team members.

Additionally, data from ASXN shows Nasdaq employed 9,162 people in 2024, producing a net income per employee ratio of $123,335.52.

Hyperliquid’s 11-person team generates approximately $113 million per employee, establishing the highest net income-to-employee ratio in global financial markets.

Volumes surpass Robinhood

The trading protocol posted $420.3 billion in total trading volume during August, extending its winning streak against Robinhood to four consecutive months.

Robinhood published August trading figures on Sept. 11, revealing $227.5 billion in total volume across all products.

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The breakdown included $199.2 billion from equity trading, $195.5 million from options contracts, $13.7 billion from crypto trading in the Robinhood App, and $14.4 billion from crypto trading on the Bitstamp exchange.

Hyperliquid processed $398 billion in perpetual contracts and $22.3 billion in spot trading during the same period, creating a $170.5 billion volume advantage over the retail trading platform. The August performance marks the platform’s strongest monthly showing since beginning its winning streak against Robinhood.

The volume comparison traces back to May, when Hyperliquid first overtook Robinhood with $256 billion versus $192 billion, according to data shared by Jon Ma from Artemis.

June volumes reached $231 billion for Hyperliquid compared to Robinhood’s $193 billion, followed by July’s $330.8 billion versus $237.8 billion performance. Its July advantage represented its largest monthly gap at 39.1% before August’s results widened the margin further to nearly 85%.

Amid these results, Hyperliquid’s HYPE token registered a new all-time high of $57.30 on Sept. 12, up roughly 760% from its launch price of $6.51 on Nov. 28, 2024.

The platform continues to demonstrate how decentralized exchanges can compete directly with established retail trading platforms while maintaining lean operational structures that generate outsized returns per employee.

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Stablecoin issuer Tether is one of the largest corporate accumulators of Bitcoin over the last 12 months, adding more coins to its treasury than nearly all spot exchange-traded funds (ETFs).

On Sept. 8, Tether CEO Paolo Ardoino shared data showing that the stablecoin issuer secured more than 27,700 BTC in the past year.

Of that amount, around 7,900 BTC were placed directly into the reserves backing USDT, while an additional 19,800 BTC were allocated to Twenty One Capital (XXI), a digital asset treasury fund to which Tether contributes.

The purchases put Tether ahead of several mid-tier ETF inflows, including VanEck’s HODL, Bitwise’s BITB, Ark 21Shares’ ARKB, and WisdomTree’s BTCW.

Yet the stablecoin operator’s buying remains modest compared with heavyweights like BlackRock’s IBIT, which absorbed 394,600 BTC, Grayscale’s mini Bitcoin trust, which added 44,200 BTC, and Fidelity’s FBTC with 27,900 BTC.

Ardoino’s breakdown highlights how the company has divided its Bitcoin strategy between backing its stablecoin and building longer-term investment positions.

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Tether’s Bitcoin embrace

Tether began its structured Bitcoin acquisition in May 2023, pledging to allocate 15% of quarterly profits to the asset. That commitment established the company as one of the few major corporate actors with a standing policy to direct profits into Bitcoin.

However, its strategy has also faced scrutiny. Recently, YouTuber Clive Thompson claimed Tether had sold more than $1 billion worth of Bitcoin to help fund a $1.6 billion gold purchase, citing changes in the company’s public asset disclosures.

Ardoino responded by saying the decline in visible Bitcoin reserves was tied to transfers into XXI, not liquidations. He reiterated that Tether plans to maintain a diversified reserve strategy that includes Bitcoin, gold, and real estate.

Despite the debate, Tether’s holdings now total 100,521 BTC, valued at roughly $11.36 billion at current market prices.

Data from Bitcoin Treasuries ranks the company as the third-largest corporate holder of Bitcoin worldwide, trailing only Strategy, which recently rebranded as Strategy, and Block.one.

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TL;DR: Enjoy high-quality sound and a stylish look thanks to Kim Kardashian’s signature Beats Pill, now on sale for $89.99 (reg. $149.99).

With warmer days ahead, it’s time to even out last summer’s tan lines. Whether you’re going on a hike or lounging on the beach, you’re going to need a trusted companion, and what could possibly be better than the new Beats Pill curated by Kim Kardashian herself! This stylish, crystal-clear speaker is on sale just in time for summer for only $89.99 (reg. $149.99).

The new Beats Pill is designed with summer adventures in mind. This portable speaker’s waterproof and dustproof design, paired with its compact size, makes it easy to toss in a beach bag without a ton of added weight. Bring the vibes wherever you go and leave the chaos of extra cables in a forgotten tin at home. 

With that said, even though it’s a wireless device, the Pill supports both wired and wireless connections for peace of mind. Connect to your phone via Class 1 Bluetooth to start streaming your favorite tunes all summer long, thanks to its 24 hours of battery life.

And if your phone is running on low battery, get the added benefit of the Pill’s built-in USB-C charging port so you can get back to 100% in no time!

An iconic speaker in an iconic style 

Summer is all about aesthetics, and so are these speakers. Designed in Kim Kardashian’s signature neutral palette and clean aesthetic, this collaboration turns a simple speaker into a statement piece, befitting of any summer fit.

Besides an updated look, these Beats feature a new sound that pushes out 90% more air, releasing a deeper bass, even at high volumes. Enjoy crisp high notes and rich mid-range tones against new material and structure. They also feature two listening modes: Amplify or Stereo Mode, to elevate your listening experience. 

Keep the good vibes going all summer long with the Beats Pill x Kim Kardashian Collab Bluetooth Speaker, now on sale for $89.99 with $5.99 shipping.

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What you need to know

• At MWC Shanghai, Honor announced that the “world’s thinnest” foldable, the Magic V5, will launch on July 2 in China.
• The device is said to bring the company’s intelligent AI software and rival Samsung’s Fold 7 as a “compelling alternative.”
• Honor unveiled its major shift into AI at MWC in March, known as the “Alpha AI Plan,” for human-centric software.

Honor is preparing to turn some heads with its next foldable launch that claims it sits atop the thin hill.

In a press release, Honor announced during MWC Shanghai that its next-generation foldable, the Magic V5, is on deck for a launch on July 2 in China. The company says it plans for the Magic V5 to continue the legacies left behind by the V2 and V3 devices. As you might’ve guessed, Honor is staking its claim that the newest phone is the world’s thinnest (foldable) device.

In Honor’s keynote at the event, it stated that it has implemented a suite of AI technology features. As such, Honor says these features will drive the Magic V5’s capabilities up to near PC-like levels. More information on these features will likely surface a little closer to launch.

However, Honor is shying away from the market, as it looks at direct competition with Samsung.

The post calls out Samsung’s upcoming Galaxy Z Fold 7, labeling its upcoming Magic V5 as a “compelling alternative.” Honor says its foldable leans on “cutting-edge design aspects, performance, and portability.”

Human-centric AI

While we await the Magic V5, Honor’s recently started down its Alpha AI path, which saw the company invent ~$10 billion. During MWC in March, Honor announced Alpha AI Plan, a three-step strategy that highlights intelligent phones, AI ecosystem, and AGI (Artificial General Intelligence). Honor said it wants to facilitate devices with human-centric AI to maximize our potential.

The intelligent AI software Honor plans for its Magic V5 foldable likely leverages the company’s R&D with its Alpha AI Plan. Honor’s Magic series is also the first area it already foresaw as the origin for this intelligent AI future.

Additionally, the Magic V3 was 12.1mm when it launched in 2024, combating the Galaxy Z Fold 6. Honor says this next iteration will be the world’s thinnest yet, and we won’t have long to wait to see just how much thinner we go.

XRP is one of the most popular coins on the market, and there is a cult-like community that has supported it for many years. The bullish sentiment surrounding it has made Altcoin work very well and continues to encourage support. The latest development for XRP was ETF filing, suggesting that it could be the next AltCoin to get SEC NOD after Ethereum. The number of filings is also available in Solana, Solana, and Dogecoin Running for next ETF approval.

XRP ETF filing increases to 10

The submission of the XRP ETF has come out of the market for the past year, particularly with approval from the Ethereum Spot ETF. These ETFs are expected to provide institutional investors with a formal tool to obtain appropriate market exposure. With Bitcoin and Ethereum ETFs being made and packed with dust, the issuer is aiming to bring it to the market for other big cap altcoins.

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The next favorite on the list is XRP, along with heavy hitters such as Solana, Dogecoin and Litecoin. However, in the race, XRP is clearly differentiated in terms of interest, boasting twice as much filing as other Altcoins.

According to data from Kaito Research, there are currently 10 XRP ETF filings with pending approval or rejection from the SEC. In contrast, there are five Solana ETF filings, three Litecoin filings, and three Dogecoin filings. This clearly shows that XRP as the next Altcoin to get ETF approval is the best.

Additionally, the SEC accepts XRP ETF submissions from industry leaders such as Grayscale. There are also filings from Proshares, Franklin Templeton, Bitwise, 21 shares, and more. However, BlackRock has not made the move to submit XRP ETF files despite leading the Bitcoin and Ethereum ETF campaigns.

Nevertheless, applications for the XRP ETF are a major issue for Altcoinm, and their approval could cause another wave of price increases.

Conclusion of the battle between ETF and SEC

For many, the major obstacle to the SEC approval of the XRP ETF was the ongoing battle between Crypto companies and regulators that began in 2020. However, in March 2025, Ripple CEO Brad Garlinghouse announced that the incident had officially ended.

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This development raises high expectations that regulators will appear to be positive about the XRP ETF. If ETFs are approved, even with a small portion of the Bitcoin ETF volume, the XRP price is expected to explode accordingly, with some analysts predicting that Altcoin’s price could rise to double digits.

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Bitcoin’s four-year compound annual growth rate (CAGR) has dropped to its lowest point ever, now at 14.45%.

CAGR measures the average annual return an asset generates over a specified period. It is calculated by assessing the return on investment (ROI) between two points and determining the annualized compounded return.

For BTC, a four-year holding period now results in an average yearly return of 14.45% — the lowest on record.

Despite the significant drop, Bitcoin continues to outperform traditional financial assets.

Data from Checkonchain reveals that gold, the S&P 500, Nasdaq, silver, and the US dollar have CAGRs ranging from 4% to 13%, making the top crypto a stronger long-term investment.

However, Bitcoin’s CAGR falls behind several leading digital assets. Solana (SOL) leads the sector with an impressive CAGR of 118%, followed by XRP at 49%. Ethereum (ETH) currently has the lowest CAGR among major cryptocurrencies, at just 8%.