news 
Hyperliquid Leads Onchain Perps Space With Record-Breaking Growth
In a remarkable display of growth and momentum, Hyperliquid has smashed records in the on-chain perpetuals space, eclipsing all other DeFi derivatives platforms combined. According to recent analytics, the protocol has successfully processed an astonishing $1.57 trillion in perpetual futures trades within a span of just 12 months, firmly establishing its dominance.
The platform’s incredible ascent began with a staggering surge in volume, skyrocketing from $75 billion in November to $150 billion by December, coinciding with the launch of Hyperliquid’s $1.2 billion HYPE token airdrop. This marked the beginning of a new era for the platform, as the influx of fresh participants and liquidity providers helped propel its order book into uncharted territories.
Hyperliquid’s performance has not slowed down since, with a remarkable monthly milestone achieved in May by surpassing $248 billion in perpetuals volume, setting a new high watermark. The momentum continued unabated, with June witnessing an astonishing $208 billion in just the first few weeks, further solidifying its position as the leading player in the on-chain perpetual futures market.
Notably, this unparalleled growth has come hand-in-glove with substantial fee generation, as Hyperliquid collected a staggering $56 million in trading fees alone in June. This revenue surge is no small matter, as it now boasts lifetime earnings exceeding $310 million, an achievement rivaling that of some of the largest layer-1 networks.
But Hyperliquid’s vision goes beyond perpetual futures alone. The protocol has recently launched HyperEVM, a fully Ethereum-compatible network fueled by its custom layer-1 software, HyperCore. This ambitious expansion into smart contracts, decentralized apps, and community-driven buybacks marks a seismic shift in the company’s trajectory, as it seeks to transcend mere derivatives trading and instead become a thriving DeFi ecosystem.
In light of these developments, it is clear that Hyperliquid has redefined the competitive landscape for on-chain perpetual futures trading.
Source: crypto-economy.com
