In the cryptocurrency market, decentralized exchanges (DEX) are rising at an astonishing speed, challenging the dominance of traditional fintech giants and centralized exchanges. Recently, the decentralized derivatives exchange Hyperliquid has made history again: its trading volume has surpassed Robinhood for the third consecutive month, and on August 25, it set a new record for 24-hour spot trading volume at $3.4 billion, briefly surpassing the centralized exchange giant Coinbase's $3 billion. This series of milestone events not only proves the strong competitiveness of decentralized finance (DeFi) protocols but also indicates that the crypto derivatives trading sector is undergoing a paradigm revolution driven by efficiency and anonymity.
- Hyperliquid's Trading Volume "Soars": Continuously Crushing Robinhood, Surpassing Coinbase
Hyperliquid continues to create miracles in trading volume thanks to its efficient operations and low-cost advantages.
Continuously surpassing Robinhood: Hyperliquid's trading volume has exceeded Robinhood for the third consecutive month. In July, Hyperliquid's total trading volume for spot and perpetual contracts was $330.8 billion, while Robinhood processed a total trading volume of $237.8 billion across all products, giving Hyperliquid a lead of $93 billion, a gap of 39.1%. In May, Hyperliquid's trading volume was $256 billion, while Robinhood's was $192 billion; in June, Hyperliquid's trading volume was $231 billion, while Robinhood's was $193 billion.
Spot trading volume surpasses Coinbase: On August 25, Hyperliquid reported that its 24-hour spot market trading volume set a new record of $3.4 billion, mainly due to increased BTC trading activity. According to CoinMarketCap data, this means Hyperliquid briefly surpassed Coinbase, which processed $3 billion in transactions during the same period.
Derivatives market leader: Hyperliquid's derivatives market remains the undisputed leader among similar products, with a 24-hour trading volume of $19.7 billion.
Year-to-date cumulative trading volume: As of August 25, Hyperliquid's cumulative trading volume for spot and perpetual contracts year-to-date is approaching $2 trillion.
- Hyperliquid's "Maximum Efficiency": 11-Person Team Generates $1.167 Billion Annual Revenue
Hyperliquid's success is closely tied to its extreme operational efficiency.
Streamlined team: CEO Jeff Yan confirmed that the exchange has only 11 core contributors.
Stunning revenue: According to estimates from DefiLlama as of August 20, Hyperliquid's annual revenue is as high as $1.167 billion.
Revenue per capita: The platform achieved $106 million in revenue per employee as of August 20, surpassing the $93 million per employee of tech giant and previous record holder Tether Limited. In contrast, traditional tech companies lag far behind, with Nvidia's average employee salary at $3.6 million, Apple's at $2.4 million, and Meta's at $2.2 million.
- Hyperliquid's Competitive Advantages: Decentralization, Low Fees, and Anonymity
Hyperliquid's remarkable growth is primarily due to its unique competitive advantages:
Decentralization: Hyperliquid is a permissionless protocol that operates on a proprietary blockchain. This eliminates the risks of unilateral account blocking and restrictions typically associated with centralized alternatives. Additionally, it allows investors to maintain control over their assets when interacting with Hyperliquid through external wallets by holding private keys.
Anonymity: Hyperliquid does not require any type of KYC (Know Your Customer), allowing traders and investors to operate anonymously on its platform.
Low fees: Hyperliquid has low trading fees for both spot and futures transactions. This makes it more attractive to traders and long-term holders, who can use the platform for speculation through short-term or high-frequency trading (HFT) or simply buy and hold.
High performance: So far, the platform's execution speed has been fast enough and very reliable for months, with few forced liquidations and downtime incidents.
- The Rise of DeFi: Challenging Traditional Finance and Centralized Exchanges
Hyperliquid's continuous lead in trading volume over Robinhood demonstrates the competitiveness of decentralized finance protocols compared to established fintech companies.
Market share competition: The phenomenon of dominant trading volume has emerged during the institutional adoption of crypto derivatives, with Hyperliquid capturing market share from centralized exchanges and traditional trading platforms.
Industry transformation: This disparity is particularly evident in crypto-native trading products, where traditional platforms face regulatory and operational restrictions that limit their market scope. Hyperliquid's success indicates that, although it has a long way to go to surpass Binance, it indeed meets the criteria to be a strong competitor among decentralized platforms.
Conclusion:
The astonishing rise of the decentralized exchange Hyperliquid, with its trading volume continuously crushing Robinhood and spot trading volume briefly surpassing Coinbase, marks a strong challenge to traditional fintech giants and centralized exchanges by DeFi protocols with their unique efficiency, low costs, and anonymity. Hyperliquid's success not only proves the strong competitiveness of decentralized finance but also indicates that the crypto derivatives trading sector is undergoing a paradigm revolution driven by efficiency and anonymity.
Related Reading: $1.1 Billion Bitcoin (BTC) Whales Make Big Bets on Ethereum's Rise, Bottoming Out at $108 Million in Spot ETH
Original: “Hyperliquid Trading Volume Surpasses Robinhood, Spot Trading Briefly Outpaces Coinbase”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
