CoinGecko says Phantom is the largest builder on Hyperliquid, accounting for 31.8% of cumulative revenue among the top 10 builders.
Phantom has generated more than $20.6 million in cumulative revenue through the Hyperliquid builder program, according to CoinGecko. The data identifies Phantom as the largest builder on Hyperliquid, with a 31.8% share of total revenue produced by the platform’s top 10 builders. The figures suggest strong activity around Hyperliquid’s builder ecosystem, where third-party applications and services can capture revenue tied to user engagement and trading flows.