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The Secret Sauce of Hyperliquid

The Secret Sauce of Hyperliquid

It’s rare in the history of DeFi derivatives to see a single protocol claim over half the on-chain perps market, yet Hyperliquid has done precisely that. What's the secret?

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Stacy Muur
Mar 08, 2025
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Stacy in Dataland
Stacy in Dataland
The Secret Sauce of Hyperliquid
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In a 24-hour window, data shows total on-chain perpetual volumes sitting at $14.37 billion, with Hyperliquid capturing a staggering $9.30 billion; that’s 64.71% of the entire space, conveying Hyperliquid’s sheer market dominance

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