TVL climbs beyond half a billion
Hyperliquid TVL has recently increased to $ 536 million, marking a historic summit. From nearly zero to the fourth quarter of 2024, the protocol witnessed a parabolic increase in just six months, which ceased its place among the best perpetual Dex.
Source: Defillama
After a brief slowdown in March, in early April, witnessed a new wave of capital entries, which causes a total locked value (TVL) beyond the milestone of $ 500 million.
This growth contrasts strongly with the stagnant TVL trends observed in the inherited decentralized exchanges (DEX) such as Dydx and GMX.
The overvoltage highlights a growing preference of the user for the high speed of hyperliquid, the intuitive user interface and the innovative EVM expansion.
Market share gains
In just six months, hyperliquidal captured 3.8% of the market share of aggregated perpetuates, creating a notable presence alongside the main centralized exchanges.
According to data, the main inflection points took place during the December-Janvier rally, followed by another wave in March-April 2025, both coinciding with increased user activity and a volume of trading.
Source: Hypeflows
This growth is not a temporary push but rather the reflection of a coherent organic moment, indicating a strong retention of users and a reliability of the products.
While many decentralized exchanges (DEX) are experiencing brief points in the volume of negotiation, hyperliquid has demonstrated a stable expansion of market share from one month to another.
This highlights its growing attraction as a lasting alternative to traditional centralized exchanges (CEX) in the perpetual commercial landscape.
The engines behind the ascent of hyperliquid
The highlighting of the hyperliquidal next to the Binance. He is now firmly among the main players like Bybit and OKX. This highlights a significant change, because users migrate centralized exchanges to a decentralized and more efficient alternative.
A major factor behind this growth is its exceptionally rapid EVM expansion. It is recognized as the EVM with the fastest growth on the market.
Another key force is its dedicated base of only 100,000 carriers. Their strong loyalty and their minimum dilution create a robust base. This foundation supports sustainable and organic growth, which is rare among protocols.
