Hyperliquid Outshines Ethereum and Solana with Record Daily Revenue in 2025

Move over, legacy chains—Hyperliquid just flipped the script. The perpetual swaps platform raked in more daily revenue than Ethereum and Solana combined this week, proving DeFi's dark horse isn't just galloping—it's lapping the competition.

How? By doing what crypto does best: turning volatility into a revenue-generating machine while L1s struggle with scaling costs. Traders piled into Hyperliquid's low-fee environment as ETH gas fees hit quarterly highs—because nothing sparks innovation like avoiding $200 swap fees.

The kicker? This isn't some flash-in-the-pan altseason story. Hyperliquid's been quietly eating market share for months, proving that in crypto, sometimes the best horse isn't the one with the fanciest jockey (looking at you, VC-darling Layer 2s).

Will it last? Who knows. But for today, the numbers don't lie—even if the 'decentralization theater' crowd will try to explain them away.

Hyperliquid Leads in Daily Fees with $1.7 Million in 24 Hours

On July 7, Hyperliquid recorded an impressive $1.7 million in daily fees, outshining Ethereum, Solana, and even Bitcoin. This milestone underscores growing user interest in the platform and increasing transaction volume, which are crucial indicators of blockchain health and network utility.

While Ethereum is known for its strong DeFi infrastructure and Solana boasts high-speed transactions, Hyperliquid is proving that a newer protocol can not only compete but lead in actual economic output.

Total Value Locked (TVL) Surges by 147%

Another key metric signaling Hyperliquid’s rise is its Total Value Locked (TVL). Over the past few months, the protocol’s TVL has increased by a staggering 147.6%, climbing to $370.7 million. This figure represents the total amount of user funds deposited in the protocol, highlighting the trust and adoption it has built among DeFi users.

The surge in TVL suggests that users are not only transacting but also choosing to lock their assets in the protocol, whether for yield farming, staking, or liquidity provision.

Whale Activity and Influencer Attention Boost Visibility

One major factor behind Hyperliquid’s success is the influx of attention from high-profile traders and influencers. Prominent crypto traders like James Wynn and Qwatio have made headlines for executing highly Leveraged trades on the platform. While such trades come with risks, they have brought increased visibility to Hyperliquid.

Even controversial figure Andrew Tate has reportedly traded on the platform, experiencing losses but also contributing to the conversation around the protocol. This level of exposure, especially when amplified through social media, has played a critical role in user acquisition and brand awareness.

Dominating the Derivatives Sector with Over 81% Mindshare

According to data from Dexu, Hyperliquid now commands 81.09% mindshare in the crypto derivatives sector. Mindshare measures how much attention a project receives across digital channels, reflecting its influence and popularity. This level of dominance is rare and signals that the market is paying close attention to Hyperliquid’s performance and offerings.

The derivatives market is one of the fastest-growing segments of the crypto space, and Hyperliquid’s success here positions it as a major player in the next wave of DeFi evolution.

Innovative Hybrid Model Attracts Institutions

A key part of Hyperliquid’s appeal lies in its hybrid DeFi model, which combines aspects of centralized exchange convenience with decentralized control. This architecture allows users to benefit from fast trade execution and DEEP liquidity while maintaining ownership of their assets.

Institutional investors have taken notice. Major firms like Lion Group and Eyenova have started adopting Hyperliquid’s native token as a reserve asset. This endorsement adds credibility to the project and suggests that it may be carving out a long-term role in institutional crypto portfolios.

Challenges and Future Outlook

Despite its rapid rise, Hyperliquid faces the same challenges as other DeFi protocols: maintaining user interest, navigating regulatory scrutiny, and ensuring long-term sustainability. High daily revenue is impressive, but it must be supported by continued innovation and sound risk management.

Still, if Hyperliquid daily revenue continues to outpace more established networks, it could prompt a broader re-evaluation of where value is being generated in the DeFi ecosystem.

Conclusion

Hyperliquid’s ability to surpass Ethereum and solana in daily revenue is no small feat. With $1.7 million in daily fees, a 147% surge in TVL, and strong institutional backing, the protocol is quickly becoming a household name in DeFi.

Whether it can sustain this growth remains to be seen, but the momentum is undeniable. As crypto markets evolve, projects like Hyperliquid show that innovation and community engagement can rapidly reshape the leaderboard—even against giants.