Hyperliquid tops Nasdaq’s 2024 net income, beats Robinhood’s trading volume 4 months in a row
John: Hey everyone, I’m John, a veteran writer for our crypto blog where we break down Web3, virtual currencies, and blockchain news in simple terms. Today, we’re diving into Hyperliquid, a decentralized derivatives exchange that’s making waves by outperforming big names like Nasdaq and Robinhood in net income and trading volume—based on the latest from CryptoSlate and other trusted sources.
Lila: Hi, I’m Lila, John’s curious assistant always eager to learn more about crypto. John, what’s a decentralized derivatives exchange anyway? It sounds complicated—can you explain how Hyperliquid is beating these traditional giants?
What is Hyperliquid?
John: Great question, Lila. Hyperliquid is a decentralized platform built on its own blockchain, allowing users to trade derivatives like perpetual futures without a central authority. Think of it as a high-speed trading floor where anyone with a crypto wallet can join, powered by blockchain for transparency and efficiency.
Lila: Derivatives? Like betting on price moves without owning the asset? That makes sense for crypto volatility.
John: Exactly! It launched its mainnet in 2023 and quickly grew, focusing on speed—handling up to 200,000 orders per second. (And here’s a light aside: it’s so fast, it might make your morning coffee run feel sluggish by comparison.)
Background and Launch
Lila: So, when did Hyperliquid start turning heads?
John: In the past, Hyperliquid began as a lesser-known player in 2023, but by 2024-01-01, it had launched its own Layer 1 blockchain, enabling seamless DeFi trading. According to Cointelegraph reports, it was designed for perpetuals trading, which are like ongoing bets on asset prices without expiration dates.
Lila: Perpetual what? Sounds eternal!
John: Perpetuals are contracts that let you speculate on prices indefinitely, similar to futures but without a set end. Hyperliquid’s team, with just 11 core contributors, built this from the ground up, emphasizing low fees and high throughput, as noted in TradingView news from 2025-09-09.
Current Performance Metrics
John: As of now, on 2025-09-13, Hyperliquid’s performance is impressive. DefiLlama data shows its annualized net income at $1.24 billion as of 2025-09-12, and it’s captured 35% of blockchain revenue in July 2025, driven by derivatives demand, per AInvest reports.
Lila: Wow, those numbers are huge. How about trading volume?
John: Spot on—Hyperliquid handled $330.8 billion in trading volume in July 2025 alone, with its HYPE token hitting an all-time high of $57.30 on 2025-09-12, up 760% since launch, as reported by CryptoSlate. It also set a revenue record of $106 million in August 2025, according to CoinMarketCap.
Lila: And it does all this with only 11 employees? That’s efficiency on steroids!
Comparison to Nasdaq and Robinhood
John: Let’s compare: Hyperliquid’s $1.24 billion annualized net income tops Nasdaq’s full 2024 net income of $1.12 billion by 11%. It’s beaten Robinhood’s trading volume for four months straight, with July 2025 seeing a 39.1% lead—$330.8 billion vs. Robinhood’s $237.8 billion, based on Unchained Crypto and CCN.com data.
Lila: So, a DeFi upstart is outpacing Wall Street icons? What’s the secret sauce?
John: Decentralization plays a big role—no middlemen means lower costs. Hyperliquid processes trades faster than traditional exchanges, holding $6.2 billion in user assets and dominating 75% of the decentralized perpetuals market, as per AInvest’s 2025-08-26 update. (Aside: If TradFi is a lumbering elephant, Hyperliquid is the speedy cheetah in the race.)
Why It’s Beating the Giants
Lila: Beyond speed, what else is driving this?
John: High efficiency is key—with 11 employees, it achieved $106 million in revenue per employee as of 2025-08-20, surpassing even Apple and Meta, according to AInvest. Incentives like low fees and the HYPE token rewards draw users, and its tech handles massive volumes without hiccups, as highlighted in BitcoinEthereumNews.
Lila: Any tips for beginners interested in trying it?
John: Sure, here’s a quick list of starting points:
- Connect a compatible wallet like MetaMask to the Hyperliquid app.
- Fund it with USDC or other supported tokens for trading perpetuals.
- Start small—test with demo modes if available to understand leverage.
- Monitor official updates on their site for security best practices.
Risks and Considerations
John: While exciting, remember the risks. Crypto derivatives involve high leverage, which can amplify losses—always use what you can afford to lose. Regulatory landscapes are evolving; for instance, no major crackdowns as of 2025-09-13, but stay informed via sources like CoinDesk.
Lila: Yikes, sounds risky. How do users protect themselves?
John: Use two-factor authentication, avoid over-leveraging, and diversify. Hyperliquid has strong security, but DeFi hacks happen—think of it like locking your digital doors. No speculation here, just verified facts from regulatory news.
Looking Ahead
Lila: What’s next for Hyperliquid?
John: Looking ahead, with steady growth, it could expand features like more asset pairs by late 2025. If trends continue, it might challenge more TradFi players, but watch for market shifts—volumes have been rising since 2025-07-01, per CryptoRank.io.
Lila: Exciting times! Any final thoughts?
John: This shows how DeFi is maturing, blending innovation with real-world performance. It’s a reminder that blockchain can rival traditional systems when done right—keep learning and stay curious, folks.
Lila: Totally agree—Hyperliquid proves crypto isn’t just hype; it’s delivering results. Thanks for the breakdown, John!
This article was created using the original article below and verified real-time sources:
- Hyperliquid tops Nasdaq’s 2024 net income, beats Robinhood’s trading volume 4 months in a row
- Hyperliquid Surpasses Robinhood in Trading Volume for Three Months Straight – Unchained
- How Hyperliquid hit $330B in monthly trading volume with just 11 employees — TradingView News
- Hyperliquid Overtakes Robinhood in Trading Volume, Quietly Redefining DeFi Efficiency