- Hyperliquid records $1.57T in annual perpetual futures volume and $310M in cumulative revenue.
- The DEX now leads on-chain perpetual futures with a monthly volume of $208B.
- HYPE token hits new ATH of $45.57 after surging 946% since November 2024 launch.
Decentralized exchange Hyperliquid has achieved $1.571 trillion in perpetual futures trading volume over the past 12 months. The platform has established itself as a major player in the on-chain derivatives trading space.
The exchange generated $56 million in revenue this month alone, contributing to its cumulative revenue of $310 million. Data from Sealaunch on Dune Analytics reveals that Hyperliquid processed $248 billion in perpetual futures volume during May.
Current month trading activity shows $208 billion in volume, placing Hyperliquid ahead of its competitors. Combined volume from other on-chain perpetual exchanges reached $140 billion during the same period.
Hyperliquid’s Growth Trajectory Accelerates
The platform experienced quick expansion in on-chain perpetual trading volume throughout late 2024. Volume doubled from $75 billion in November to $150 billion in December 2024, coinciding with the platform’s airdrop of $1.2 billion worth of HYPE tokens.
Technical capabilities set Hyperliquid apart from traditional exchanges. The platform offers sub-second finality and processes over 100,000 orders per second through its fully on-chain order book system.
“Hyperliquid offers sub-second finality and handles over 100,000 orders per second, powering a fully on-chain order book that delivers unmatched speed and transparency,” said Min Jung, research analyst at Presto Research.
The exchange has expanded beyond perpetual futures trading with the launch of HyperEVM earlier this year. This Ethereum-compatible network allows developers to deploy smart contracts and decentralized applications on the platform.
HyperEVM connects to HyperCore, the foundational software that supports Hyperliquid’s Layer 1 blockchain infrastructure. This expansion aims to create a comprehensive ecosystem for both trading and development activities.
Technical Edge and Token Performance Boost Platform Momentum
Current market data shows the platform maintaining strong performance metrics across multiple timeframes. The 30-day period reflects a 27.9% increase in activity, while recent price action indicates the token trading 12.5% below its all-time high of $45.57 reached on June 16, 2025.
The exchange’s fee model has proven effective in generating consistent revenue streams. Trading fees account for the majority of the $310 million cumulative revenue, with the platform capturing value from both maker and taker transactions across its perpetual futures markets.
The platform’s native token HYPE, has experienced major volatility since its launch. From an all-time low of $3.20 in November 2024, the token has gained 946.8% to current levels.
Related: Can Any DeFi Platform Catch Up to Hyperliquid’s $1.6T Surge?
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