Hyperliquid Reports $844M Revenue and 600K New Users in 2025
Hyperliquid, a decentralized exchange operating on its proprietary blockchain, closed 2025 with $844 million in revenue and a staggering $2.95 trillion in total trading volume. The platform onboarded over 600,000 new users, underscoring accelerating adoption of decentralized trading infrastructure.
Perpetual contracts dominated fee generation, contributing $848.33 million, while spot trading and HLP transactions yielded $40.61 million and $19.10 million respectively. Daily averages reached $8.34 billion, with hourly throughput hitting $347.34 million—figures that rival traditional financial markets.
The exchange recorded $3.87 billion in net inflows, achieving $4.15 billion in total value locked. These metrics position Hyperliquid among the top-tier DeFi protocols by liquidity and user growth.