Hyperliquid surpasses Robinhood in trading volume for the third consecutive month.

Hyperliquid continues to lead Robinhood in trading volume for three consecutive months, with July recording the largest gap at 39.1%.

According to data from DefiLlama, this decentralized derivatives exchange has processed a total of 330.8 billion USD in spot and perpetual trades in July, while Robinhood reached 237.8 billion USD across all products. The structure of Robinhood consists of 209.1 billion USD from stocks, 195.8 million USD from options, and 28.7 billion USD from crypto.

The gap of 93 billion USD in July is the strongest leading of Hyperliquid over Robinhood since the start of the winning streak. Previously, according to data from Artemis, Hyperliquid reached 256 billion USD compared to 192 billion USD of Robinhood in May and 231 billion USD compared to 193 billion USD in June.

HyperliquidAs of August 25, Hyperliquid has approached the milestone of 2 trillion USD in total annual trading volume, with over 349 billion USD just in August, surpassing the 330.8 billion USD of July and 226.4 billion USD of June.

Maximum efficiency with a small team

CEO Jeff Yan stated that Hyperliquid operates with only 11 key members but generates an estimated annual revenue of $1.167 billion ( according to DefiLlama on 20/8), equivalent to $106 million per employee — surpassing major tech corporations and Tether (93 million USD/person). In comparison, OnlyFans achieves $37.6 million/person, Nvidia $3.6 million, Apple $2.4 million, and Meta $2.2 million.

This achievement occurs against the backdrop of crypto derivatives products attracting institutional capital, helping Hyperliquid gain market share from centralized exchanges and traditional trading platforms, demonstrating the competitive strength of DeFi compared to traditional fintech, especially in pure crypto trading products.