How Hyperliquid Is Quietly Beating Robinhood at Its Own Game

Source Beincrypto

Once a little-known player in 2023, Hyperliquid is now reshaping the DeFi industry in 2025, outpacing Robinhood in trading volume and challenging the dominance of centralized exchanges.

With an aggressive growth strategy and unique approach to liquidity, this decentralized exchange (DEX) is no longer flying under the radar.

Centralized Exchanges Beware: Hyperliquid Is Catching Up Fast

While many still believe that decentralized exchanges (DEXs) can’t scale like centralized exchanges (CEXs), Hyperliquid (HYPE) is forcing the entire industry to rethink. This DEX now leads the perpetual futures trading segment, outperforming many big names.

Perpetual platforms trading volume. Source: DunePerpetual platforms’ trading volume. Source: Dune

According to June 2025 data, Hyperliquid’s trading volume reached $231 billion, slightly down from $256 billion in May.

Meanwhile, Robinhood saw a sharper decline, from $192 billion to $150 billion in the same period. These figures show that the gap between a young DEX like Hyperliquid and the CEX giants is narrowing.

Volume comparison between Hyperliquid & Robinhood. Source: JonbmaVolume comparison between Hyperliquid & Robinhood. Source: Jon Ma on X

“Coinbase, Robinhood, Binance need to pay attention. Remember when people said DEXs couldn’t scale? Hyperliquid proves them wrong,” investor Lex Sokolin shared on X.

According to an in-depth analysis by Artemis Analytics, Hyperliquid is seen as a “rising star” of the new growth cycle. This highlights its rapid development and its potential threat to the dominance of traditional centralized exchanges.

“In just 2 years, Hyperliquid is quickly rising to become a similarly sized business as Robinhood,” noted Steven from Yunt Capital.

One of the standout features that sets Hyperliquid apart is its “Liquidity-as-a-Service” approach. According to an investor and DeFi expert, this strategy “increases its valuation and is probably one of the best trades one can take in size for the next few years.”

However, possibly due to its rapid growth, Hyperliquid recently experienced a brief user interface outage. This prevented users from placing, closing, or withdrawing orders, although front-end operations operated normally. Following the incident, Hyperliquid pledged to refund users affected by the short-lived API issue, which impacted trades and positions.

While it’s still too early to say that DEXs will completely replace CEXs, Hyperliquid’s growth is increasingly blurring the lines between the two models. Its stability and steadily increasing trading volume have made Hyperliquid a vivid example of the true potential of decentralized exchanges.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Experts Warn Fed Against Rate Cuts Despite 99% Market ConfidenceWhile Wall Street may be convinced the Federal Reserve (Fed) is about to slash interest rates, many experts argue the hard economic data says otherwise.
Author  Beincrypto
9 hours ago
While Wall Street may be convinced the Federal Reserve (Fed) is about to slash interest rates, many experts argue the hard economic data says otherwise.
placeholder
US Dollar Index (DXY) edges up above 98.00 ahead of key US releasesThe Dollar is trading with marginal gains on Thursday.
Author  FXStreet
10 hours ago
The Dollar is trading with marginal gains on Thursday.
placeholder
China doubles down on practical AI as America spends billions and burns energyAmerica is throwing billions of dollars and burning through massive energy reserves in an arms race to dominate AI before China gets there first.
Author  Cryptopolitan
10 hours ago
America is throwing billions of dollars and burning through massive energy reserves in an arms race to dominate AI before China gets there first.
placeholder
Trump Hosts Tech Titans — But Elon Musk Is Not on the Guest ListU.S. President Donald Trump is set to host a dinner on Thursday with more than two dozen tech leaders.
Author  TradingKey
10 hours ago
U.S. President Donald Trump is set to host a dinner on Thursday with more than two dozen tech leaders.
placeholder
ISM Services PMI Preview: US services sector expected to accelerate in AugustOn Thursday, we’ll get the latest read on the US services sector when the Institute for Supply Management publishes its August Services PMI.
Author  FXStreet
11 hours ago
On Thursday, we’ll get the latest read on the US services sector when the Institute for Supply Management publishes its August Services PMI.
goTop
quote