HyperLiquid now controls nearly 90% of daily active users (DAU) in the perpetual futures trading market, according to recent platform activity data.
The chart highlights HyperLiquid’s overwhelming lead compared with competing decentralized derivatives platforms, including dYdX, GMX, Jupiter, Vertex Protocol, and Gains Network.
The platform’s rapid growth reflects increasing demand for decentralized perpetual trading solutions, driven by low fees, deep liquidity, and fast execution speeds. HyperLiquid has emerged as one of the dominant players in the on-chain derivatives sector over the past year.