Hyperliquid Surpasses Robinhood in Trading Volume by 39.1% in July 2025

Hyperliquid, a decentralized exchange, has outperformed Robinhood in trading volumes for May, June, and July 2025, marking a pivotal moment in the evolution of the crypto and retail trading landscape. In May, Hyperliquid reported $256 billion in trading volume, compared to Robinhood’s $192 billion. The gap slightly narrowed in June, with Hyperliquid recording $231 billion against Robinhood’s $193 billion. However, the trend accelerated in July, where Hyperliquid’s volume surpassed Robinhood by 39.1%, signaling a sustained shift in user behavior toward decentralized platforms [1].

This development is attributed to Hyperliquid’s high-speed Layer-1 infrastructure and the use of HYPE token incentives, which have driven increased participation in both spot and perpetual trading. Analysts note that these features enhance efficiency and appeal to traders seeking performance and reward mechanisms that traditional platforms may not offer [2].

Industry observers have highlighted the broader implications of Hyperliquid’s success. The data, verified by on-chain analytics and project contributors, reflects a growing trust in decentralized finance and its ability to challenge traditional fintech models. Jon Ma, a crypto analyst at Artemis, stated that Hyperliquid’s sustained outperformance is a sign of DeFi’s maturation and increased adoption [3].

The trend has been widely reported through platforms like MEXC, CryptoRank, and X, with John Morgan of the crypto community noting Hyperliquid’s three-month dominance in monthly trading volume. MEXC and AInvest also confirmed the sustained performance across spot and derivatives trading, emphasizing the significance of Hyperliquid’s infrastructure in capturing market share [4].

While Robinhood has not publicly refuted the data, its lack of response may indicate an internal acknowledgment of the growing competition. Analysts suggest that legacy platforms must adapt to maintain relevance in a market increasingly driven by decentralized solutions. Hyperliquid’s performance underscores the potential for DeFi to redefine liquidity dynamics and trading strategies [5].

The shift also reflects historical patterns where increased decentralized exchange volumes have led to heightened activity in related tokens and technologies. This suggests the market may continue to invest in Layer 1 and Layer 2 assets as DeFi’s influence grows [6].

Hyperliquid’s sustained dominance represents a new phase in the competition for trading volume and user attention. With continued advancements in infrastructure and token economics, the platform may further solidify its position, reshaping the retail and crypto trading landscape in the process.

Source:

[1] MEXC (https://www.mexc.com/news/hyperliquid-surpasses-robinhood-in-monthly-trading-volume-for-the-third-consecutive-month/73642)

[2] AInvest (https://www.ainvest.com/news/hyperliquid-surpasses-robinhood-spot-derivatives-trading-volumes-2508/)

[3] MEXC (https://www.mexc.com/news/hyperliquid-surpasses-robinhood-in-spot-derivatives-trading/73318)

[4] X · johnmorganFL (https://x.com/johnmorganFL/status/1960089077208002817)

[5] CryptoRank (https://cryptorank.io/news/based-social)

[6] AInvest (https://www.ainvest.com/news/stock-analysis-citigroup-outlook-technical-weakness-optimistic-analyst-sentiment-2508/)