Bitcoin 
Ethereum 
Tether 
BNB 
XRP 
USDC 
TRON 
Lido Staked Ether 
Dogecoin 
Figure Heloc 
Cardano 
WhiteBIT Coin 
Bitcoin Cash 
Wrapped stETH 
Wrapped Bitcoin 
Wrapped Beacon ETH 
USDS 
Binance Bridged USDT (BNB Smart Chain) 
Wrapped eETH 
Chainlink 
Monero 
LEO Token 
WETH 
Zcash 
Stellar 
Ethena USDe 
Coinbase Wrapped BTC 
Hyperliquid 
Litecoin 
Avalanche 
Sui 
Hedera 
sUSDS 
Dai 
USDT0 
Shiba Inu 
World Liberty Financial 
Toncoin 
PayPal USD 
Uniswap 
Canton 
Cronos 
Ethena Staked USDe 
Mantle 
USD1 
Polkadot 
Rain 
Bitget Token 
MemeCore 
Tether Gold 
Aave 
OKB 
Falcon USD 
Bittensor 
NEAR Protocol 
Ethereum Classic 
Binance-Peg WETH 
Jito Staked SOL 
BlackRock USD Institutional Digital Liquidity Fund 
Pi Network 
Pepe 
Aster 
PAX Gold 
Internet Computer 
Ethena 
Provenance Blockchain 
syrupUSDC 
Global Dollar 
Wrapped SOL 
Circle USYC 
HTX DAO 
Sky 
Jupiter Perpetuals Liquidity Provider Token 
KuCoin 
Ripple USD 
Midnight 
BFUSD 
Binance Bridged USDC (BNB Smart Chain) 
Worldcoin 
Aptos 
Rocket Pool ETH 
Gate 
Kaspa 
Binance Staked SOL 
Ondo 
Wrapped BNB 
Arbitrum 
POL (ex-MATIC) 
Kelp DAO Restaked ETH 
Quant 
Pump.fun 
Algorand 
Janus Henderson Anemoy AAA CLO Fund 
Cosmos Hub 
Official Trump 
Function FBTC 
Solv Protocol BTC 
Lombard Staked BTC 
XDC Network 
VeChain 
NEXO 
Filecoin 
Flare 
USDtb 
Liquid Staked ETH 
OUSG 
USDD 
Superstate Short Duration U.S. Government Securities Fund (USTB) 
WrappedM by M^0 
Beldex 
Polygon Bridged USDC (Polygon PoS) 
Sei 
Arbitrum Bridged WBTC (Arbitrum One) 
clBTC 
Ondo US Dollar Yield 
Mantle Staked Ether 
Render 
Bonk 
MYX Finance 
USDai 
Renzo Restaked ETH 
Morpho 
Polygon PoS Bridged DAI (Polygon POS) 
Jupiter 
Wrapped Flare 
Kinetiq Staked HYPE 
L2 Standard Bridged WETH (Base) 
PancakeSwap 
StakeWise Staked ETH 
Jupiter Staked SOL 
Pudgy Penguins 
Curve DAO 
syrupUSDT 
Spiko EU T-Bills Money Market Fund 
Usual USD 
tBTC 
c8ntinuum 
Arbitrum Bridged WETH (Arbitrum One) 
Tezos 
Optimism 
First Digital USD 
GHO 
TrueUSD 
Dash 
Story 
Artificial Superintelligence Alliance 
Lido DAO 
GTETH 
Merlin Chain 
pippin 
Injective 
Stacks 
SPX6900 
Virtuals Protocol 
Ether.fi 
Aerodrome Finance 
Stader ETHx 
AB 
Ether.Fi Liquid ETH 
Marinade Staked SOL 
USDB 
Wrapped ApeCoin 
DoubleZero 
Celestia 
Swell Ethereum 
Starknet 
sBTC 
The Graph 
FLOKI 
Maple Finance 
BitTorrent 
Steakhouse USDC Morpho Vault 
JUST 
Coinbase Wrapped Staked ETH 
Conflux 
Telcoin 
Bitcoin SV 
Sun Token 
Ethereum Name Service 
Chiliz 
IOTA 
EURC 
Olympus 
AINFT 
Cap USD 
Trust Wallet 
Kinesis Gold 
Pyth Network 
Avalanche Bridged BTC (Avalanche) 
Resolv USR 
crvUSD 
Resolv wstUSR 
Kaia 
Decred 
Gnosis 
Basic Attention 
USX 
Binance-Peg Dogecoin 
dogwifhat 
Binance-Peg BUSD 
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.
