- Hyperliquid recorded a 23% increase in August revenue of $106M and monthly perpetual trading volume of $400B.
- Hyperliquid fund expanded 3M to 29.8M HYPE tokens in 2024, currently with a valuation of more than $1.5B.
- Hyperliquid records $8B+ daily on-chain trades, with a total volume of over $2T since 2023.
Hyperliquid recently broke the record with a revenue of $106 million in August, powered by the trading volume of 400billion and a revolutionary fully on-chain system. Its own token HYPE reached new heights with whales coming in and trading fees soaring. Having projected a revenue that competes with those of tech giants, and a freshly launched ETP in Switzerland, Hyperliquid is rewriting the DeFi playbook, although potential token unlocks are set to disrupt the price trend.
Hyperliquid Records Highest Monthly Revenue
DefiLlama data shows that Hyperliquid posted its highest monthly revenue in August. It reached $106 million, a 23% increase from July’s $86.6 million. This surge can be attributed to its nearly $400 billion in perpetual trading volume.
A substantial portion of these earnings is funneled into Hyperliquid’s Assistance Fund. This fund automatically buys back HYPE from the open market. Since January, the fund’s holdings have increased from 3 million to 29.8 million tokens, valued at over $1.5 billion.
The growth comes mainly from the protocol’s Layer-1 blockchain, HyperEVM. This platform delivers high throughput and low-cost transactions. Hyperliquid has built a fully on-chain trading system that processes more than $8 billion daily by eliminating off-chain oracles and order matching. It has also surpassed $2 trillion in cumulative volume since its debut in 2023.
Furthermore, Hyperliquid’s revenue per employee ratio is higher than Tether’s, which is $93 million. Additionally, it exceeded OnlyFans’s $37.6 million, surpassing more established tech behemoths like Apple, Nvidia, and Meta. The platform is expected to generate $1.17 billion in annual revenue.
Hyperliquid also crossed another milestone with its Hyperliquidity Cluster. The trading volume was 3.4 billion in the 24 hours, with 1.5 billion of it coming in through Bitcoin only. This is what makes it the second-largest platform of trading Bitcoin spots in the world.
HYPE Price Rally Amid Rising Derivatives Activity
HYPE surged to a new all-time high and shot above 10 percent in a single day to $51.17, as reported earlier.This increase was driven by whale accumulation and high trading fees. As of now, the token is trading at approximately $44, representing a 1% decline over the past week.
Building on its bullish narrative, BitMEX CEO Arthur Hayes projected a 126x upside for HYPE. Hayes argues that the stablecoin supply is expected to hit $10 trillion by 2028. He also shared that the platform could capture over a quarter of the associated trading volume. His analysis forecasts protocol revenues surging from $1.2 billion today to $258 billion within three years.
It is also worth mentioning that 21Shares recently launched the first regulated Hyperliquid exchange-traded product (ETP) on the SIX Swiss Exchange. The product offers structured access to the protocol, which already powers 80% of decentralized perpetuals trading.
Analysts say Hyperliquid is one of the most interesting protocols in the DeFi space. They however, caution that its value is at high risk. A company is about to be worth billions of dollars but only a third of the tokens of Hyperliquid have actually become available. Future token releases in later this year could threaten its price stability.
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