Hyperliquid Dominates 80% of DeFi Perpetuals Market with $30B Daily Volume

Hyperliquid has emerged as a dominant force in decentralized finance, capturing over 80% of the perpetuals market and processing $30 billion in daily trading volume. The platform's rapid ascent, achieved within just one year, positions it as a formidable competitor to centralized exchanges.

RedStone's report highlights Hyperliquid's on-chain order book as a key differentiator, delivering centralized exchange-like speed and price execution while maintaining full decentralization. The platform's technical architecture, including HyperCore and HyperEVM, enables novel financial primitives like tokenized perpetual positions and risk-balanced strategies.

Growth accelerated following the implementation of HIP-3, a permissionless market creation system that redistributes revenue to developers. This incentive structure has fostered one of DeFi's most innovative builder communities, with some developers reportedly earning more than the protocol itself.