Bitcoin 
Ethereum 
Tether 
BNB 
XRP 
Solana 
USDC 
Lido Staked Ether 
TRON 
Dogecoin 
Figure Heloc 
Cardano 
Wrapped stETH 
Monero 
WhiteBIT Coin 
Wrapped Beacon ETH 
Wrapped Bitcoin 
Bitcoin Cash 
Wrapped eETH 
Chainlink 
USDS 
Binance Bridged USDT (BNB Smart Chain) 
WETH 
LEO Token 
Stellar 
Coinbase Wrapped BTC 
Zcash 
Sui 
Ethena USDe 
Avalanche 
Hyperliquid 
Litecoin 
Hedera 
Shiba Inu 
Canton 
USDT0 
World Liberty Financial 
Dai 
sUSDS 
Toncoin 
Cronos 
Ethena Staked USDe 
PayPal USD 
Polkadot 
USD1 
Uniswap 
Rain 
Mantle 
MemeCore 
Bittensor 
Aave 
Bitget Token 
Pepe 
OKB 
Tether Gold 
Internet Computer 
NEAR Protocol 
Falcon USD 
Jito Staked SOL 
Binance-Peg WETH 
Ethereum Classic 
Ethena 
PAX Gold 
BlackRock USD Institutional Digital Liquidity Fund 
Pi Network 
Aster 
Pump.fun 
Jupiter Perpetuals Liquidity Provider Token 
POL (ex-MATIC) 
Binance Staked SOL 
HTX DAO 
Worldcoin 
KuCoin 
Global Dollar 
Circle USYC 
Aptos 
Wrapped BNB 
Ripple USD 
Rocket Pool ETH 
syrupUSDC 
Sky 
BFUSD 
Binance Bridged USDC (BNB Smart Chain) 
Kaspa 
Kelp DAO Restaked ETH 
Ondo 
Cosmos Hub 
Arbitrum 
Gate 
Algorand 
Render 
Provenance Blockchain 
Filecoin 
Quant 
Official Trump 
Lombard Staked BTC 
Function FBTC 
MYX Finance 
Solv Protocol BTC 
Midnight 
VeChain 
Dash 
NEXO 
USDD 
Bonk 
Flare 
Liquid Staked ETH 
Mantle Staked Ether 
USDtb 
XDC Network 
Story 
OUSG 
Sei 
Polygon Bridged USDC (Polygon PoS) 
Pudgy Penguins 
Arbitrum Bridged WBTC (Arbitrum One) 
WrappedM by M0 
Janus Henderson Anemoy AAA CLO Fund 
Superstate Short Duration U.S. Government Securities Fund (USTB) 
Morpho 
clBTC 
Renzo Restaked ETH 
PancakeSwap 
Jupiter 
Jupiter Staked SOL 
Ondo US Dollar Yield 
StakeWise Staked ETH 
Beldex 
Optimism 
Stacks 
USDai 
Virtuals Protocol 
L2 Standard Bridged WETH (Base) 
syrupUSDT 
Wrapped Flare 
Artificial Superintelligence Alliance 
Polygon PoS Bridged DAI (Polygon POS) 
Tezos 
Curve DAO 
Chiliz 
Spiko EU T-Bills Money Market Fund 
c8ntinuum 
Usual USD 
tBTC 
Kinetiq Staked HYPE 
Arbitrum Bridged WETH (Arbitrum One) 
SPX6900 
GTETH 
Lido DAO 
Injective 
Aerodrome Finance 
First Digital USD 
A7A5 
GHO 
TrueUSD 
Marinade Staked SOL 
FLOKI 
Celestia 
Ether.fi 
Ether.Fi Liquid ETH 
Lighter 
Fasttoken 
Stader ETHx 
Coinbase Wrapped Staked ETH 
DoubleZero 
Decred 
Steakhouse USDC Morpho Vault 
Janus Henderson Anemoy Treasury Fund 
Wrapped ApeCoin 
The Graph 
sBTC 
Starknet 
Maple Finance 
Staked Aave 
AB 
BitTorrent 
River 
IOTA 
JasmyCoin 
JUST 
USDB 
Sun Token 
Ethereum Name Service 
Wrapped STX (Velar) 
Bitcoin SV 
Conflux 
Trust Wallet 
dogwifhat 
Gnosis 
Fartcoin 
Pyth Network 
Telcoin 
Cap USD 
Humanity 
Avalanche Bridged BTC (Avalanche) 
crvUSD 
Binance-Peg Dogecoin 
Pendle 
AINFT 
Kaia 
Key Takeaways
- More than 609,000 traders joined Hyperliquid in 2025 amid accelerating global usage.
- The protocol generated around $844 million in revenue over the year.
Hyperliquid’s growth trajectory accelerated through 2025, as the platform quickly became one of the most active venues for decentralized trading.
According to ASXN Data, the platform posted impressive milestones across all key metrics, from user growth and trading activity to revenue and total value locked.
Hyperliquid onboarded more than 609,000 users during the year, expanding its footprint among both retail and institutional traders. Alongside user expansion, the platform recorded $3.8 billion in net inflows as demand for decentralized derivatives rose.
On trading activity, its total trading volume climbed to $2.9 trillion. The platform handled nearly $199 billion in executed trades, underscoring robust market participation.
Hyperliquid ended the year with around $4.1 billion in total value locked. The platform generated about $844 million in revenue, placing it among the most profitable exchanges in DeFi.
