Hyperliquid's Trading Volume Surpasses $1.571 Trillion in 12 Months

Hyperliquid's latest price was $39.56, down 0.5% in the last 24 hours. The cryptocurrency has achieved a significant milestone by surpassing $1.571 trillion in perpetual futures trading volume over the past 12 months, solidifying its position as a major player in the decentralized finance (DeFi) market. This substantial trading volume underscores the platform's growing influence and market engagement, particularly in the realm of on-chain derivatives.

The platform's growth trajectory has been marked by several key events, including a notable surge in trading activity following a $1.2 billion HYPE token airdrop. This airdrop, which occurred in December 2024, played a pivotal role in driving increased market participation and trading volumes, which rose from $75 billion in November to $150 billion in December.

Hyperliquid's technological advancements have been instrumental in its success. The platform's infrastructure is designed to deliver sub-second trade finalities and can handle over 100,000 orders per second. This high-speed order processing capability, combined with a fully on-chain order book, offers unmatched transparency and efficiency, setting Hyperliquid apart from both traditional and decentralized competitors.

The platform's leadership, while unspecified, is presumed to have extensive experience in blockchain and derivatives, which has contributed to its market reach and technological prowess. Hyperliquid's on-chain technologies, including its ability to support Ethereum-compatible smart contracts and decentralized applications through HyperEVM, further enhance its appeal to developers and traders alike.

Industry experts have recognized Hyperliquid's advanced on-chain execution capacity. Min Jung, a research analyst, noted that Hyperliquid's infrastructure allows for much faster and more transparent transactions compared to other platforms. This technological edge has helped Hyperliquid generate a steady increase in revenues, further cementing its market advantage.

Hyperliquid's impact extends beyond trading volumes. The platform has expanded its network 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, fostering innovation and growth within the DeFi ecosystem.

Historical precedents from platforms like Serum and Binance Smart Chain highlight Hyperliquid's unique influence in the perpetual futures market. The platform's success in delivering high-speed, transparent transactions has positioned it as a leader in the on-chain derivatives space, influencing market trends and token valuations.

Hyperliquid has demonstrated significant growth in the perpetual futures market, capturing a notable 10.54% share of Binance's perpetual futures volume. This market position underscores its expanding influence within the derivatives sector. The platform achieved remarkable trading volume milestones in 2025, reaching $248 billion during May alone, representing a substantial increase compared to preceding periods.

Platform activity saw sustained momentum, with figures indicating Hyperliquid processed $208 billion in perpetual futures trading volume through June 2025, surpassing the combined volume of several key competitors during the same timeframe. Cumulatively over the past year, Hyperliquid's total trading volume reached $1.571 trillion, further solidifying its leading role in the on-chain derivatives landscape. This scale of activity highlights robust trader engagement and platform utilization.

Beyond trading volume, Hyperliquid's ecosystem development gained traction with the expansion of HyperEVM, contributing to increased platform adoption and user base growth. Corporate adoption is also evident, exemplified by Nasdaq-listed Eyenovia acquiring an additional $10 million worth of Hyperliquid's native token, HYPE, in late June 2025. This strategic treasury acquisition brought Eyenovia's total holdings to 1,306,452 HYPE, signifying potential institutional interest and planned on-chain involvement with the protocol.