Aster

Daily

Hyperliquid

<p>Amid increasing attention to decentralized trading, Hyperliquid is holding the leading position in the perpetual DEX market, reporting $1.2 billion in annual profits. Its trading activity and liquidity levels are notably higher than its competitors: Aster and Lighter, showing a strong market presence.&nbsp;</p>
<p>As of October 2025, Hyperliquid had spent over $645 million repurchasing its native HYPE tokens from the secondary markets. Data highlighted by Hyperliquid Daily on X shows the exchange recorded $12.9 billion in daily trading volume and $9.76 billion in open positions on October 30, indicating strong trading activity on the platform.</p>
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   <p>CZ will not like this<a href="https://twitter.com/HyperliquidX?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@HyperliquidX</a> dominates the perpetual DEX arena, with 24-hour open interest surging to 3x that of Aster and 5x that of Lighter. <br><br>Hyperliquid has racked up over $1.2 billion in annual profits—and as of October 2025, it has already deployed $645 million to… <a href="https://t.co/dLhg8ZU3jt" rel="noopener noreferrer nofollow">pic.twitter.com/dLhg8ZU3jt</a></p>— Hyperliquid Daily (@HYPERDailyTK) <a href="https://twitter.com/HYPERDailyTK/status/1984098774638325945?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 31, 2025</a>
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<p>This puts it well ahead of other decentralized perpetual trading platforms, showing high user activity and strong liquidity. By comparison, Aster had the same level of trading volume but only $3.2 billion in active contracts. Lighter recorded $11.4 billion in trades and $1.8 billion in open contracts, indicating less overall market engagement.&nbsp;</p>
<h2 class="wp-block-heading" id="growing-market-share-and-trading-momentum">Growing market share and trading momentum</h2>
<p>DeFiLlama data shows the 24-hour perpetual trading volume across the market at $57.02 billion, with total open interest at $17.81 billion. Over the past 30 days, cumulative trading hit $1.32 trillion despite a minor 1.61% weekly decline. Hence, the figures confirm that perpetual products remain a major driver of on-chain activity.</p>
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   Source: <a href="https://defillama.com/perps" target="_blank" rel="noopener noreferrer nofollow">DefiLlama</a>
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<p>The long-term trend also supports this growth story. Trading remained steady through 2022 and 2023 before surging sharply from mid-2024 onward. Consequently, 2025 has become a breakout year for Hyperliquid, setting new highs in both user participation and volume.</p>
<h2 class="wp-block-heading" id="strong-buyback-and-liquidity-expansion">Strong buyback and liquidity expansion</h2>
<p>In a separate post on X, Hyperliquid Daily emphasized the project’s unique buyback approach. “While most projects hype buyback programs to drive price pumps… HyperliquidX is a standout exception,” it said. The platform’s $645 million in repurchases accounts for 46% of all crypto token buybacks this year.</p>
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   <p>While most projects hype buyback programs to drive price pumps—only for those gains to crash hard, as the repurchases pale in comparison to the massive token supply— <a href="https://twitter.com/HyperliquidX?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@HyperliquidX</a> is a standout exception.<br><br>This top-tier DEX is projecting nearly $1.2 billion in annual profits, and… <a href="https://t.co/ECe9J8ZL65" rel="noopener noreferrer nofollow">pic.twitter.com/ECe9J8ZL65</a></p>— Hyperliquid Daily (@HYPERDailyTK) <a href="https://twitter.com/HYPERDailyTK/status/1983738771809141122?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 30, 2025</a>
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<p>Token buyback programs involve a company repurchasing its own tokens from the market, typically to reduce supply, support price stability, and signal confidence in long-term value.&nbsp;</p>
<h2 class="wp-block-heading" id="hyperliquid-s-continued-growth">Hyperliquid’s continued growth&nbsp;</h2>
<p>According to <a href="https://dune.com/kambenbrik/hyperliquid" target="_blank" rel="noopener noreferrer nofollow">Dune Analytics</a>, $4.54 billion USDC has been bridged to Hyperliquid so far, accounting for 62.26% of all USDC deployed on Arbitrum. Deposits were increasing at a steady rate up until 2024 and then reached their peak between July and September 2025, indicating the fast-expanding role of the platform as one of the major hotspots of liquidity.</p>
<p>This week, <a href="https://www.cryptotimes.io/2025/10/29/21shares-submits-s-1-filing-to-sec-for-hyperliquid-etf/" target="_blank" rel="noopener noreferrer nofollow">21Shares filed for a Hyperliquid ETF</a> with the U.S. Securities and Exchange Commission (SEC), following Bitwise’s earlier proposal in September. HYPE token now ranks as the 11th largest crypto asset by market cap, currently trading at $44.55, as per <a href="https://coinmarketcap.com/currencies/hyperliquid/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> data.&nbsp;</p>
<p>Hyperliquid’s rise signals a noticeable change in the decentralized finance market. Its consistent profits, large buybacks, and expanding liquidity reflect a broader shift in how traders use perpetual DEXs.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read: <a href="https://www.cryptotimes.io/2025/10/30/ondo-integrates-chainlink-to-support-tokenized-securities/" target="_blank" rel="noopener noreferrer nofollow">Ondo Integrates Chainlink to Support Tokenized Securities</a></p>
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Hyperliquid Leads Perp DEX Market with $1.2B Annual Profit

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