Hyperliquid Perp hit a new monthly trading volume record of $248.3 billion in May 2025, according to DeFiLlama.
TVL doubled to $1.46 billion in May, showing growing user confidence and increasing liquidity on the platform.
May 2025 was the busiest and most striking moment for Hyperliquid. According to data from DeFiLlama, this decentralized derivatives platform managed to record the highest monthly trading volume since its launch: $248.3 billion.
This is not just a big number, it is a big step. Especially for a protocol that runs entirely on-chain, without traditional intermediaries. Moreover, they also pocketed $70.45 million in revenue just from trading fees and ticker auctions. Revenue that can even make many central exchanges jealous.
Hyperliquid Sees Surge in Locked Assets and User Activity
Behind these numbers, the community and user base also continued to increase. On May 30, the total value of locked assets (TVL) on Hyperliquid doubled in just one month, reaching $1.46 bill
