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Key Takeaways
- More than 609,000 traders joined Hyperliquid in 2025 amid accelerating global usage.
- The protocol generated around $844 million in revenue over the year.
Hyperliquid’s growth trajectory accelerated through 2025, as the platform quickly became one of the most active venues for decentralized trading.
According to ASXN Data, the platform posted impressive milestones across all key metrics, from user growth and trading activity to revenue and total value locked.
Hyperliquid onboarded more than 609,000 users during the year, expanding its footprint among both retail and institutional traders. Alongside user expansion, the platform recorded $3.8 billion in net inflows as demand for decentralized derivatives rose.
On trading activity, its total trading volume climbed to $2.9 trillion. The platform handled nearly $199 billion in executed trades, underscoring robust market participation.
Hyperliquid ended the year with around $4.1 billion in total value locked. The platform generated about $844 million in revenue, placing it among the most profitable exchanges in DeFi.