Hyperliquid's Rise Challenges Robinhood as BitGo Backs Institutional Access

BitGo has expanded its custodial services to support HyperEVM, the Ethereum-compatible smart contract layer for the Hyperliquid ecosystem. Institutions can now securely custody and interact with HYPE, the native token of Hyperliquid, through BitGo’s infrastructure, which offers both qualified custody and self-custody options for hot and cold wallets [2]. This move enables clients to access Hyperliquid’s high-performance trading and DeFi opportunities while maintaining direct control over their assets through BitGo’s customizable policy features, such as whitelists and spending limits [2]. BitGo’s support for Hyperliquid reflects its ongoing commitment to enabling institutional participation in innovative blockchain ecosystems, particularly as DeFi adoption continues to grow [2].

Hyperliquid has demonstrated strong growth and market traction, with its decentralized derivatives platform outperforming traditional trading platforms. For the third consecutive month, Hyperliquid’s trading volume surpassed Robinhood’s, with July recording the largest gap at 39.1%. According to DefiLlama data, Hyperliquid’s combined spot and perpetual volume reached $330.8 billion in July, compared to Robinhood’s $237.8 billion across all products [5]. The platform’s efficiency is further highlighted by its high revenue per employee—$106 million as of August 20, far outpacing traditional tech firms such as Apple and Meta [5]. Institutional adoption of crypto derivatives appears to be a key driver, as Hyperliquid continues to capture market share from centralized exchanges and traditional financial platforms [5].

The HYPE token has also shown significant price movements in recent weeks, with a 4% gain in 24 hours and reaching a peak of nearly $50 in July [4]. The token’s performance aligns with a broader increase in activity on the Hyperliquid network, including all-time highs in total wallet equity, open positions, and transaction fees. Artemis Terminal data indicates that Hyperliquid’s 24-hour chain fees surpassed those of Ethereum and Tron, highlighting the platform’s growing user base and liquidity [6]. Moreover, Coinglass data shows that bullish sentiment on HYPE remains strong, with a long-to-short ratio of 1.20—the highest in a month—suggesting that traders are increasingly positioning for further price appreciation [6].

Notable figures in the crypto space have expressed optimism about Hyperliquid’s future. Arthur Hayes, co-founder of BitMEX, predicted a 126x price increase for HYPE over the next three years during a conference in Tokyo, citing the potential for stablecoin expansion and the DEX’s projected annualized fee revenue of $258 billion [4]. This forecast adds to the growing momentum around Hyperliquid, which has already surpassed $2 trillion in year-to-date cumulative trading volume as of August 25 [5]. The platform’s ability to attract both retail and institutional traders, combined with its low fees and high-speed execution, positions it as a formidable competitor in the decentralized trading space [5].

BitGo’s integration with HyperEVM enhances the security and operational flexibility for institutions looking to engage with the platform’s ecosystem. By providing custodial and non-custodial options, BitGo ensures that clients can manage their HYPE assets in a manner that aligns with their risk preferences and compliance requirements. The launch of HyperEVM support underscores BitGo’s role in facilitating access to next-generation blockchain infrastructure, particularly as the DeFi landscape evolves to support more sophisticated financial applications [2]. As Hyperliquid continues to scale and attract a global user base, its partnership with BitGo reinforces the platform’s credibility and long-term viability in the competitive decentralized exchange market [2].

Source:

[1] title1 (https://www.reddit.com/r/stocks/comments/1mzwfjs/nvda_up_35_into_earnings/)

[2] title2 (https://www.bitgo.com/resources/blog/bitgo-launches-hyperevm-support/)

[3] title3 (https://www.barchart.com/story/news/34397787/4-ways-to-profit-from-nvda-stock-if-earnings-miss)

[4] title4 (https://cointelegraph.com/news/hyperliquid-hype-spikes-arthur-hayes-predicts-126x-upside)

[5] title5 (https://cryptoslate.com/hyperliquid-surpasses-robinhood-in-monthly-trading-volume-for-the-third-consecutive-month/)

[6] title6 (https://www.mitrade.com/insights/news/live-news/article-3-1069003-20250826)

[7] title7 (https://bitbo.io/news/willy-woo-whales-bitcoin/)

[8] title8 (https://www.coingecko.com/en/categories/decentralized-perpetuals)

[9] title9 (https://cryptodaily.co.uk/2025/08/stablecoins-get-their-first-big-latin-american-stage-as-bitgo-ripple-solana-outset-pr-and-polygon-head-to-mexico-city-conference)