Hyperliquid 24 Hour Revenue Rise Above Solana with Tron as Next Target

Hyperliquid has achieved significant growth by surpassing an established player, Solana on 24hour revenue in key performance metrics, with a performance record of $1.27M in comparison to Solana’s $1.24M.

Since its airdrop on November 29th, Hyperliquid has experienced an unprecedented influx of capital. Data from SpotOnChain reveals a staggering net inflow of over $1 billion in USDC stablecoin.

The figure highlights the substantial user engagement and confidence in the platform’s capabilities. Furthermore, the number of USDC held within the network’s deposit bridge has doubled in just 17 days, reaching a remarkable $2.09 billion. This explosive growth directly reflects the intense trading activity spurred by the token generation event (TGE).

Why is Hyperliquid Growth Amplified

A key differentiator for Hyperliquid lies in its innovative order book solution. Unlike many decentralized exchanges (DEXs) that rely on automated market makers (AMMs) and liquidity providers, often resulting in high slippage, Hyperliquid’s approach mirrors that of centralized exchanges.

Notably, this mitigates the risk of adverse price movements during trades, a significant advantage that has attracted a substantial user base. This strategic design choice addresses a long-standing pain point within the DEX ecosystem, enhancing user experience and fostering trust.

The strategic advantage, coupled with its robust infrastructure, has propelled Hyperliquid to the forefront of the DeFi space. In just four weeks, it has cemented its position as one of the leading decentralized perpetual trading platforms, based on both total value locked (TVL) and trading volume.

According to Defillama, Hyperliquid’s TVL has experienced a phenomenal increase of over 1000% in the past month, reaching $2.78 billion. This positions it as the second-largest DEX platform globally, trailing only Uniswap ($6.8 billion) and surpassing Solana-based Raydium. The network also recorded the third-highest TVL change among all cryptocurrencies in the past seven days, behind only Bitcoin and Ethereum.

The platform’s success is not solely confined to TVL; its trading activity has been equally explosive. Hyperliquid recently surpassed $10 billion in 24-hour trading volume, a milestone that eclipses Solana and establishes it as a major force in the perpetual swap market. The platform also achieved an all-time high open interest of $4.3 billion, demonstrating significant market confidence and substantial liquidity within the ecosystem.