Hyperliquid's Revenue Reaches $960M on Custom Blockchain

Hyperliquid is gaining traction in the crypto space with its custom Layer 1 blockchain designed for high-speed onchain trading, capable of processing up to 200,000 orders per second.

The platform has generated around $960 million in revenue in 2025 and has expanded into S&P 500 and SpaceX-linked perpetual futures, including pre-IPO contracts.

One of the key features of Hyperliquid is its direct connection between trading activity and token demand, with 99% of fees from perps and spot markets going to the Assistance Fund, which uses them to buy HYPE tokens.