Hyperliquid Surpasses $1.57 Trillion in Trading Volume, HYPE Token Rises 946.8 Percent

Hyperliquid has achieved a significant milestone, surpassing $1.57 trillion in perpetual futures trading volume over the past 12 months. This accomplishment has solidified its dominance in the on-chain derivatives market. In June, the platform generated $56 million in revenue, bringing its total earnings to $310 million for the year.

Trading activity on Hyperliquid remains robust, with $208 billion already recorded this month. This follows May’s impressive volume of $248 billion, which significantly outpaced the combined $140 billion from other on-chain perpetual platforms during the same period. The platform's growth has been particularly notable in the last months of 2024, with trading volume surging from $75 billion in November to $150 billion in December. This surge coincided with a $1.2 billion HYPE token airdrop in December.

Hyperliquid's success extends beyond trading volumes. The platform has expanded its capabilities with the introduction of HyperEVM, which supports Ethereum-compatible smart contracts and decentralized applications. This technology allows developers to create applications directly on the framework that supports the Hyperliquid order book, further enhancing its appeal to developers and users alike.

Technically, Hyperliquid's infrastructure is designed for speed and efficiency, delivering sub-second finality and handling over 100,000 orders per second. The fully on-chain order book offers transparency and processing speed that gives it a competitive edge over traditional and decentralized competitors. The platform’s native token, HYPE, has also seen significant price movement, rising 946.8 percent since a low of $3.20 in November 2024. As of June 16, 2025, HYPE is trading within 12.5 percent of its all-time high of $45.57.

According to Min Jung, a research analyst at Presto Research, Hyperliquid's trading infrastructure allows for faster transactions with greater transparency. Its fee structure, which benefits from both maker and taker orders, has contributed to a steady increase in revenues. With a 27.9 percent rise in trading activity over the last 30 days, Hyperliquid continues to outpace its competitors in the on-chain trading sector.