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A new RedStone report says Hyperliquid’s on-chain order book, HIP-3 market creation, and dual-chain design have propelled it to over 80% market share.
By Oliver Knight, AI Boost|Edited by Aoyon Ashraf
Aug 21, 2025, 7:00 p.m.
(Dragon Images/Shutterstock)
What to know:
Hyperliquid now controls more than 80% of the DeFi perps market, processing up to $30 billion daily.
CEX-level order books, HIP-3 market creation, and the HyperCore + HyperEVM design fuel its growth.
With $2.2 billion TVL, the lean, self-funded exchange is positioning itself as core infrastructure for on-chain finance.
Data provider RedStone has released a new report on Hyperliquid, the decentralized perpetuals exchange that has quickly become the category leader.
In just a year, Hyperliquid has grown to capture more than 80% of the decentralized perps market, with daily trading volumes now topping $30 billion, rivaling some of the largest centralized exchanges, according to the repor
