Hyperliquid recorded its highest-ever revenue and trading volume in August.
According to data from DefiLlama, the platform’s monthly revenue hit $106 million, a 23% increase from July’s total of $86.6 million. This was driven by a perpetual trading volume of nearly $400 billion.
In recent months, Hyperliquid has consistently captured a significant share of the decentralized perpetuals market, with its volume exceeding that of other major DeFi protocols. The Block’s data dashboard shows that Hyperliquid led 70% of the market share among leading perpetual trading platforms, others including Jupiter and Orderly Network.
The platform’s growth is often attributed to its on-chain architecture, built on its own Layer-1 blockchain HyperEVM, which attracts traders with high performance and cheaper transaction fees. Hyperliquid’s fast growth has also attracted institutional interest, as seen in the recent launch of 21Shares’ Hyperliquid exchange-traded product on the SIX Swiss Exchange.
However, the platform also faced scrutiny and criticism last month after a whale investor allegedly manipulated a newly launched futures market for the XPL token, profiting from a sudden spike that resulted in substantial losses for other traders. Hyperliquid traders have seen a similar incident in March involving the Jelly memecoin futures market.
The incident led the platform to introduce new updates to safeguard traders, including a 10x price cap relative to the 8-hour exponential moving average and integration of external market data to improve price stability.
“The sustainability of this growth trajectory will likely depend on Hyperliquid’s ability to maintain its technical edge while scaling to accommodate increasing user demand without compromising the performance that initially attracted traders from centralized platforms,” The Block’s Brandon Kae and Ivan Wu previously stated.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
