HyperLiquid to Quadruple User Base by 2025, Trading Volume Also to Double

On the 6th, decentralized exchange (DEX) HyperLiquid released its 2025 performance report, revealing that its user base grew more than fourfold from 300,000 the previous year to 1.4 million.

Other key metrics on the platform also showed significant increases. The 24-hour trading volume reached a peak of $32 billion (approximately 4.7 trillion yen), more than doubling from $15 billion in 2024. The 24-hour protocol revenue recorded $20 million (approximately 2.94 billion yen), a nearly sixfold increase from $3.5 million in 2024.

This growth was achieved without any external funding, with all protocol...