Hyperliquid, a decentralized exchange (DEX), achieved a monumental milestone in July 2025 by reporting $330.8 billion in trading volume. This figure represents a 39.1% lead over Robinhood, which posted around $237.8 billion for the same month. The achievement positions Hyperliquid among the most influential players in global trading and underscores the growing shift toward decentralized finance (DeFi) platforms.
Hyperliquid’s rise has been fueled by its combination of low fees, lightning-fast execution, and deep liquidity pools. The platform has also benefited from new trading pairs and enhanced support for derivative products, including perpetual futures. One of the most striking aspects of Hyperliquid’s success is its lean operational model. With a team of only 11 members, the exchange has generated an annualized revenue of $1.167 billion, averaging over $100 million in revenue per employee.
On August 26, Hyperliquid revealed that spot volumes on its exchange reached a new record of $3.4 billion in 24 hours, largely driven by BTC and ETH pairs. This makes Hyperliquid the second-largest venue globally for Bitcoin spot trading. The platform’s total value locked has climbed to $685 million, the highest in six months. Despite a modest 1% dip over 24 hours, the HYPE token is holding firm at $45, with weekly gains of over 7% intact.