Hyperliquid has marked the end of 2025 with $844 million in revenue from trading activities, alongside a total trading volume of $2.95 trillion. The decentralized exchange has also added more than 600,000 new users to its trading platform since January this year.
Hyperliquid, a decentralized crypto exchange platform that operates on its own blockchain, has concluded the year boasting 600k new users and $844 million in revenue. The exchange recorded inflows worth $3.87 billion and achieved a total trading volume of $2.95 trillion.
The DEX averaged about $8.34 billion per day and about $347.34 million every hour. Throughout the year, spot trading volume on the exchange reached $116.80 billion, while that of HIP-3 trading activities amounted to $11.01 billion.
Hyperliquid’s perps generate $848.33m in trading fees
Data from Hyperscreener, a Hyperliquid data dashboard and analytics platform, shows that perpetual contracts generated the most fees, amounting to $848.33 million. Spot fees totaled $40.61 million while HLP transactions yielded $19.10 million in fees for the ecosystem. Perpetual contracts still led the platform’s revenue streams, bringing $808.54 million, while Spot contracts generated $35.25 million in total revenue the entire year.
The exchange facilitated 198.9 billion transactions since January, with a daily average of 561.7 million transactions and 23.4 million transactions every hour. Perpetual contracts represented the majority of these transactions, accounting for $ 174.3 billion, while Spot contracts followed far behind with only $ 22.6 billion in transactions. HIP-3 transactions accounted for the least amount of executed orders, with only 1.9 billion transactions.
Data from the analytics platform shows that Hyperliquid’s builder ecosystem peaked at 289.8k users with $46.27 million in revenue and 187 active builders. BasedApp ranked first among the top builders on Hyperliquid, with a volume of $35.18 billion and 35.4k users, followed by Phantom and PVP.Trade with volumes of $23.05 billion and $13.27 billion, respectively. Phantom ended the year with about 81.7k users while PvP.Trade had 19.5k users. Bitget claimed the tenth position with a volume of $2.53 billion and a little over 10k users.
The data from Hyperscreener also highlighted that the DEX had introduced global equities such as Apple, Nvidia, Amazon, Google, and Tesla through its HIP-3 protocol. Nvidia was the most traded HIP-3 listing with $1.73 billion in trading volume. Tesla and Google followed with $1.15 billion and $1.04 billion, respectively.
Bitcoin tops the list as the most-traded cryptocurrency on Hyperliquid
Bitcoin was the most-traded digital asset on the platform, with a trading volume of $1.16 trillion. Ethereum and Solana trail behind with $824.61 billion and $269.94 billion in trading volume, respectively.
According to data from CoinMarketCap, Hyperliquid’s native cryptocurrency, HYPE, is currently trading at $25.86. The digital asset is up by 7.64% in the last seven days and ranks 14th on CoinMarketCap’s list of the largest cryptocurrencies by market cap.
The news comes after the DEX denied claims of insider trading on December 22 and urged that open short positions on HYPE originated from a former employee. The DEX also claimed that team members and current employees are banned from trading the DEX’s native token.
Cryptopolitan reported that the alleged insider position was valued at $25,140 and involved the short sale of 1,000 HYPE shares. The report emphasized that the position was too small to have a significant impact on the market by introducing additional volatility. The report also highlighted that the insider owns 2.5 million HYPE in the spot market and has consistently held despite HYPE’s poor performance and the overall crypto meltdown.
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Source: https://www.cryptopolitan.com/hyperliquid-wraps-up-the-844m/
