Decentralized derivatives exchange Hyperliquid has been making waves in the financial world by consistently outperforming traditional finance giants in terms of volume and net income. According to data from DefiLlama, Hyperliquid’s annualized net income as of Sept. 12 is estimated at $1.24 billion, surpassing Nasdaq’s $1.12 billion net income for the entirety of 2024 by 11%.
What makes this accomplishment even more impressive is the fact that Hyperliquid operates with just 11 team members, while Nasdaq employed 9,162 people in 2024. This means that Hyperliquid’s 11-person team generates approximately $113 million per employee, establishing the highest net income-to-employee ratio in global financial markets.
In terms of trading volumes, Hyperliquid has consistently outperformed Robinhood, a popular retail trading platform. In August, Hyperliquid posted a total trading volume of $420.3 billion, extending its winning streak against Robinhood to four consecutive months. In comparison, Robinhood reported $227.5 billion in total volume across all products for the same month.
This trend of outperforming Robinhood started back in May when Hyperliquid first overtook Robinhood with $256 billion versus $192 billion in trading volumes. Since then, Hyperliquid has maintained its lead, with June volumes reaching $231 billion compared to Robinhood’s $193 billion, and July seeing $330.8 billion versus $237.8 billion in performance.
The platform’s strong performance is reflected in the price of its native token, HYPE, which reached a new all-time high of $57.30 on Sept. 12, up roughly 760% from its launch price of $6.51 on Nov. 28, 2024.
Overall, Hyperliquid’s success showcases how decentralized exchanges can compete directly with established retail trading platforms while maintaining lean operational structures that generate outsized returns per employee. This achievement highlights the potential of decentralized finance to disrupt traditional financial systems and pave the way for a more inclusive and efficient financial ecosystem.