Is Hyperliquid Coming Back to Life? Analyzing the Rising RWA Volume and Market Revival in 2025

2025-07-14

After a relatively quiet stretch in the decentralized exchange (DEX) landscape, Hyperliquid is showing unmistakable signs of resurgence. In 2025, the protocol has re-emerged as a major force in the crypto trading arena—thanks to booming Real-World Asset (RWA) volumes, new infrastructure milestones, and bullish sentiment around its native token, HYPE.

With an ecosystem that bridges high-performance trading infrastructure and DeFi innovation, Hyperliquid’s recent growth metrics suggest that this is more than a short-term pump—it may be a fundamental turning point for the protocol and its broader impact on Web3 finance.

Hyperliquid’s Q2 2025 Surge: RWA Volume Hits $1.57 Trillion

One of the most significant signals of Hyperliquid’s revival is its record-breaking trade volume in Q2 2025. The protocol processed $1.57 trillion in trades over the quarter, claiming more than 60% of the DEX market share. This leap not only eclipses competing platforms but reflects the rapid institutional and retail embrace of RWAs—on-chain representations of tangible assets like real estate, bonds, and commodities.

RWAs are becoming a key growth vertical for DeFi, and Hyperliquid is positioning itself at the center of this narrative by offering deep liquidity, low latency, and EVM-compatible deployment environments. These capabilities make it an attractive venue for both traditional institutions exploring tokenized assets and crypto-native users seeking new yield sources.

Open Interest and Derivatives Strength

Adding to its comeback story, Hyperliquid’s open interest surpassed $10.6 billion as of July 13, 2025—a strong sign of capital engagement and user confidence in the platform’s derivatives offering. Open interest measures the total value of outstanding contracts and is a key indicator of platform activity and trader sentiment.

This positions Hyperliquid as not just a DEX, but a liquid and trusted environment for leveraged products, futures, and advanced trading strategies—an edge that few DeFi platforms have scaled effectively.

HYPE Token Performance and On-Chain Momentum

The native token, HYPE, has mirrored this momentum. Recently priced at $47–$49, HYPE hit new all-time highs with some analysts projecting it could cross $50 before the end of 2025, assuming current velocity continues. What’s more, Hyperliquid’s economic model includes strategic buybacks, airdrops, and token burn mechanisms, reinforcing price support and circulating supply control.

The demand for HYPE is also fueled by real platform utility—staking incentives, gas fee usage, and participation in governance decisions tied to network upgrades and treasury allocations.

Infrastructure Overhaul: HyperCore and HyperEVM Live on Mainnet

Underpinning Hyperliquid’s growth is a serious technological upgrade. The launch of HyperCore and HyperEVM on its mainnet marks a major milestone. This new framework offers:

Centralized exchange-level speed and reliability
Full EVM compatibility, making it easy for developers to deploy existing smart contracts
Low-cost transactions, ideal for real-time DeFi and trading apps
Cross-dApp liquidity, connecting multiple apps within the ecosystem under a unified layer

These upgrades are crucial for attracting developers, DAOs, and liquidity providers seeking performance without sacrificing decentralization. It also positions Hyperliquid as a Layer 1 alternative with a strong DeFi toolkit.

Strategic Community Growth and Developer Adoption

Hyperliquid’s comeback isn’t just technical—it’s also social. The protocol has leaned into community incentives, including high-impact airdrops, hackathons, grant programs, and real-time governance experiments that empower HYPE holders to shape the future of the network.

These strategies are paying off. Developer interest is climbing, community engagement is high, and the platform’s TVL (Total Value Locked) is expected to grow in tandem with its expanding dApp ecosystem and RWA integrations.

Is Hyperliquid Truly Back?

All indicators suggest Hyperliquid’s return is not only real—but strategic and sustainable. With unmatched trade volumes, robust infrastructure, and a strong derivatives presence, the platform is solidifying itself as a core pillar of the next DeFi cycle.

As tokenized assets, on-chain derivatives, and institutional-grade DeFi continue to gain ground in 2025, Hyperliquid may well be one of the few platforms able to scale alongside them—and thrive in doing so.

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FAQ

What is driving Hyperliquid’s resurgence in 2025?

Hyperliquid’s comeback is fueled by massive RWA trade volume, platform upgrades, and increased open interest in its derivatives markets.

How much trade volume did Hyperliquid process in Q2 2025?

The platform recorded $1.57 trillion in trade volume during Q2 2025, capturing over 60% of the DEX market.

Is HYPE token expected to rise further in 2025?

Yes, HYPE has reached $47–$49 and is projected to potentially exceed $50 by year-end, supported by utility and strong tokenomics.

What are HyperCore and HyperEVM?

HyperCore and HyperEVM are Hyperliquid’s upgraded mainnet infrastructure layers that combine centralized exchange speed with EVM smart contract compatibility.