Overview
- Artemis figures show Hyperliquid handled about $2.6 trillion in 2025 notional volume versus Coinbase’s roughly $1.4 trillion.
- Hyperliquid frequently controls more than 70% of decentralized perpetuals open interest, which stood near $4.1 billion in early February.
- Recent 24-hour perpetual trading activity hovered around $3.9 billion, with surges during periods of market stress.
- Fees on the platform fund HYPE buybacks under initiatives such as HIP-3, and the token is up roughly 32% year to date.
- Non-crypto contracts like gold and silver now generate over 30% of Hyperliquid’s DEX volume, and the venue has been estimated to account for more than 6% of total CEX perpetual volumes.