Hyperliquid Outpaces Nasdaq and Robinhood, Poised for Further Growth
By: Isha Das
In a remarkable achievement for decentralized finance, Hyperliquid, a decentralized derivatives exchange, has consistently outperformed some of the biggest names in traditional finance. The latest data shows that Hyperliquid has exceeded Nasdaq's annual net income, marking a significant milestone in the crypto sector's capability to compete on a global scale. According to DefiLlama, Hyperliquid's annualized net income is estimated at $1.24 billion, surpassing Nasdaq's $1.12 billion for 2024. This impressive feat comes even with Hyperliquid operating with a team of just 11 members, highlighting the efficiency of its lean operational structure.
This decentralized powerhouse is also making headlines by outperforming the retail trading platform Robinhood. Hyperliquid's trading volume reached $420.3 billion for the month of August, significantly surpassing Robinhood's recorded volume of $227.5 billion. This marks the fourth consecutive month that Hyperliquid has maintained its lead over Robinhood, with a volume advantage of $170.5 billion in August alone. Robinhood’s trading included $199.2 billion from equities, $195.5 million from options, and $13.7 billion from crypto trading via its app, underlining the scope of Hyperliquid's achievement.
Hyperliquid's ambitious moves aren't limited to trading volume. The exchange is currently in a high-stakes race to launch its first native stablecoin, USDH. Notable players such as Paxos, Frax, and other financial heavyweights are vying to control USDH, promising high levels of liquidity and stability within the Hyperliquid ecosystem. A community vote is set to determine the winner, making this a heavily scrutinized decision in the DeFi community. Furthermore, stablecoin issuer Circle is contemplating deeper ties with Hyperliquid through a potential USDC launch on the exchange's native HyperEVM chain. This could strengthen Circle's presence in DeFi and fortify Hyperliquid’s ecosystem.
Hyperliquid's growth and initiatives illustrate the growing capacities and ambitions of decentralized finance platforms. By providing highly efficient, lean, and innovative solutions, platforms like Hyperliquid are increasingly positioning themselves as formidable competitors to traditional financial entities. As the space continues to evolve, the integration with stablecoins and potential new collaborations could further cement Hyperliquid's position as a leader in decentralized exchanges.
