Hyperliquid Now Dominates DeFi Derivatives, Processing $30B a Day

Data supplier RedStone has launched a new report on Hyperliquid, the decentralized perpetuals alternate that has shortly grow to be the class chief.

In simply a yr, Hyperliquid has grown to seize greater than 80% of the decentralized perps market, with each day buying and selling volumes now topping $30 billion, rivaling a number of the largest centralized exchanges, in response to the report.

RedStone highlighted three structural benefits that underpin Hyperliquid’s surge.

The first is its totally on-chain order e-book that now delivers spreads and execution speeds on par with centralized platforms.

Second, HIP-3, Hyperliquid’s new permissionless market creation framework, has created one of the vital energetic builder ecosystems in DeFi, with revenue-sharing economics that pay builders greater than the protocol itself.

And third, its twin structure of HyperCore and HyperEVM permits totally new monetary primitives, together with tokenized perp positions, delta-neutral methods, and novel liquidity engineering instruments.

Hyperliquid’s rise is a sign of how a lean, self-funded workforce can outcompete venture-backed friends by specializing in technical execution and builder-first incentives. By coupling CEX-level efficiency with permissionless know-how, Hyperliquid is positioning itself not simply as a buying and selling venue however as a potential spine for the subsequent part of on-chain buying and selling.

The Hyperliquid community, on which the Hyperliquid DEX is predicated, at present has round $2.2 billion in whole worth locked, with the DEX notching $330 billion in cumulative buying and selling quantity previously 30 days, in response to DefiLlama.

“Hyperliquid is setting a new standard,” the RedStone report notes, arguing that the platform’s dual-layer design and community-driven development mannequin are creating “unprecedented alternatives for builders and establishments alike.”