Hyperliquid, a decentralized perpetual futures exchange, has surpassed $1.57 trillion in trading volume over the past 12 months, generating approximately $310 million in cumulative revenue. In June 2025 alone, the platform recorded $208 billion in trading volume, exceeding the combined volume of all other on-chain perpetual platforms. Hyperliquid holds over 70% market share in on-chain perpetual trading and has recently achieved an all-time high daily revenue of $5.21 million. It has consistently outperformed Ethereum in daily fee generation, with recent fees reaching $5 million, which is 51.5% higher than Ethereum's. The platform's total value locked (TVL) recently grew by $1 billion in one week to reach $4.5 billion, with daily trading volume around $30 billion. Leading traders on Hyperliquid include institutional investors such as Arca, Borderless Capital, and Arrington XRP Capital, who have realized substantial profits within 24 hours. This growth underscores the increasing demand for decentralized derivatives and the platform's dominant position in the on-chain trading ecosystem.