Around 70% of the DeFi Derivatives Market Revenue Comes From Hyperliquid — DeFiLlama

Around 70% of all revenue in the DeFi perpetual derivatives segment comes from a single protocol — Hyperliquid. This was highlighted by an X user known as The DeFi Investor, who cited data from DeFiLlama.

The data shows a high concentration of revenue within the sector, even though many DEXs offer perpetual trading.

According to the infographic presented in the post, the derivatives category has a clear leader — Hyperliquid — which accounts for the largest share of revenue. The remaining portion is divided among several major platforms and dozens of smaller protocols.

The chart divides the market into three segments: the leader’s share, the share of its closest competitors, and the combined share of all other projects.

The same pattern appears in other niches of the crypto market. In several categories — including NFT marketplaces, MEV services, wallets, launchpad platforms, and DEX aggregators — most of the revenue is also controlled by a single dominant player.

This post is for informational purposes only and does not constitute advertising or investment advice. Please do your own research before making any decisions.