pvp.trade earned $8.68 million in commission revenue through Hyperliquid builder fees and used it to accumulate about 421,000 HYPE, according to the reported figures. At the cited valuation, that position grew to about $24.34 million from an average acquisition cost of $20.6 per token. The update also noted that the project redeemed 400,000 HYPE from staking, worth about $22.8 million, which may indicate preparation to take profit.