Hyperliquid Captures 80% of DeFi Perp Market Share

Hyperliquid, a decentralized perpetuals protocol, has emerged as the dominant force in DeFi perp trading, achieving an 80% market share and enabling $248 billion in trading volume in May 2025.

This significant growth underscores a shift in market structure, attracting both institutional and retail traders to decentralized platforms, amid growing interest in Hyperliquid’s unique tokenomics.

Hyperliquid’s Unique Tokenomics Drive Rapid Growth

Hyperliquid’s rapid growth stems from its unique approach to launching its native token HYPE. By bootstrapping the protocol without venture capital, it avoids typical sell-off risks associated with post-launch VC unlocks. Alice Li from Foresight Ventures is prominent in promoting Hyperliquid’s achievements. She highlights their strategy of bridging East and West in crypto investments, reinforcing growth through solid research and partnerships.

As Alice Li, Investment Partner at Foresight Ventures, stated, “As crypto payments mature, they’re becoming more than just payment tools — they’re evolving into full-fledged financial operating systems, offering adjacent services that traditional finance cannot match.” Foresight Ventures Report

Trading Volume Surge Signals Decentralized Shift

The trading surge signals a massive influx of capital and user activity to decentralized platforms. Hyperliquid’s success resonates with traders interested in DeFi’s promises of enhanced liquidity and reduced risk.

Experts note that increased trading volume and market share point to potential regulatory scrutiny. Nevertheless, this rise also indicates a promising shift towards on-chain financial activities reflecting broader crypto adoption.

Post-FTX DeFi Perp Markets Boost Hyperliquid

DeFi perp markets have thrived post-crises like FTX’s collapse. Hyperliquid’s bootstrapped model stands apart, ensuring trader confidence and security, unlike previous iterations seen in the DeFi landscape.

According to Kanalcoin experts, Hyperliquid’s model could set a precedence for future DeFi launches. The combination of community-driven growth and lack of VC risks provides a robust framework for sustained development.

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