Hyperliquid has emerged as a leader in the decentralized finance (DeFi) perpetuals market, capturing over 80% market share and processing daily trading volumes of approximately $30 billion. According to a report by data provider RedStone, this growth is attributed to several key factors: its fully on-chain order book that offers competitive execution speeds akin to centralized exchanges, the HIP-3 framework enabling permissionless market creation that fosters a robust developer ecosystem, and the innovative dual architecture (HyperCore and HyperEVM) facilitating novel financial instruments. The platform currently holds around $2.2 billion in total value locked (TVL) and achieved cumulative trading volumes of $330 billion in just the last 30 days. RedStone underscores that Hyperliquid's model of community-driven growth and technical excellence sets a new standard within the DeFi landscape, allowing it to effectively compete against venture-backed platforms.

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