- The revenue of the Hyperliquid platform in August exceeded $100 million, which is 23% more than in July.
- The trading volume of perpetual contracts approached $400 billion for the month.
- The platform attracts traders with its efficiency and low fees, but faces risks of market manipulation.
Hyperliquid Strengthens Its Position in the Decentralized Derivatives Market
In August 2025, the decentralized platform Hyperliquid achieved a historic monthly revenue peak, exceeding $100 million. Compared to July, this figure increased by 23%, when the revenue was $86.6 million. The significant trading volume of perpetual contracts, which reached nearly $400 billion during the month, was the main contributor to this growth.
This is reported by Business • Media
Hyperliquid confidently holds about 70% of the market among decentralized platforms for trading perpetual contracts, outpacing competitors such as Jupiter and Orderly Network. A key advantage of the service is its modern on-chain architecture, built on the HyperEVM layer-one blockchain, which ensures high transaction execution speed and minimal fees. These factors are encouraging traders to transition from centralized exchanges to Hyperliquid.
Risks of Manipulation and Platform Responses
The growing popularity of the platform has attracted attention not only from retail users but also from institutional investors. In particular, the company 21Shares recently launched an exchange-traded product based on Hyperliquid on the Swiss SIX exchange.
However, the platform has repeatedly faced criticism due to instances of market manipulation by large participants. For example, in August, the price of XPL sharply increased by more than 200% due to the actions of a single trader on Hyperliquid. Another notable incident occurred around the meme coin Jelly.
In response, Hyperliquid implemented new measures to protect traders, including a price limit of 10 times the 8-hour exponential moving average. Developers also integrated external market data to enhance quote stability.
Industry experts emphasize that the further development of Hyperliquid depends on the platform’s ability to maintain its technological advantage and scale without losing the high performance that has become one of the main reasons for its popularity among traders.
It is worth noting that the Phantom service recently also began trading futures contracts through Hyperliquid, indicating the platform’s growing influence in the decentralized derivatives segment.