Hyperliquid Surpasses Robinhood & Major CEXs in Crypto Trading Volume—Here’s Why It Matters

Move over, legacy platforms—Hyperliquid just flipped the script. The decentralized exchange (DEX) has quietly outpaced Robinhood and centralized giants in crypto trading volume, proving DeFi’s grip is tightening.

How? Zero middlemen, lower fees, and traders voting with their wallets. Meanwhile, traditional CEXs are stuck playing catch-up—when they’re not busy settling SEC lawsuits.

One takeaway? The ‘if you can’t beat ’em, regulate ’em’ playbook isn’t working. Hyperliquid’s rise screams what crypto natives already know: decentralization isn’t a feature. It’s the whole damn product.

According to data on Artemis, Hyperliquid’s Spot and Perpetuals trading volume in June 2025 stood around $231 billion, slightly lower than $256 billion in May. Meanwhile, Robinhood’s volume fell more sharply, from $192 billion to $150 billion. This shows the gap between this fast-growing DEX and big CEXs is getting smaller.

Investor Lex Sokolin shared on X: “Coinbase, Robinhood, Binance need to pay attention. Remember when people said DEXs couldn’t scale? Hyperliquid proves them wrong.”

An analysis by Artemis Analytics calls Hyperliquid a “rising star” in the new growth phase. Steven from Yunt Capital also posted on X, “In just 2 years, Hyperliquid is quickly rising to become a similarly sized business as Robinhood.”

Hyperliquid’s Dominance in DeFi Trading

One key to Hyperliquid’s success is its “Liquidity-as-a-Service” model. A DeFi expert said this approach “increases its value and is probably one of the best trades to hold for the next few years.”

Hyperliquid also recently had a short API outage due to large traffic which affected some users. At the time, Users were not able to place, close, or withdraw orders for a brief time, but the backend quickly got back functional. However, the company has promised to refund users affected by this API issue.

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