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Hyperliquid | dYdX | Drift | GMX | Orderly
Hyperliquid 🌊
👥 Aishat Suleiman | Website | Dashboard
📈 Hyperliquid Hits $21B Daily Trading Volume, Securing 64.8% Perps Market Share
On Jan. 19, 2025, Hyperliquid, a decentralized perpetual protocol hit an all-time high, with $21B in daily trading volume, capturing 64.8% of the perpetual market and 72.3% of the top 10 apps. Just two years ago, dYdX dominated with over 80% market share. Things changed in February 2023 when Hyperliquid launched with just 0.3% market share — by April 2024, the platform had nearly caught up to dYdX, with 19.5% of total volume versus dYdX's 19.6%, marking the start of its extraordinary rise to dominance.
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