Layer 1 · HyperBFT proof of stake

Hyperliquid L1

Live data · updated every hour

Hyperliquid L1 is a chain built around a fully on-chain order book for perpetual futures and spot trading.

TokenHYPE $92.83TVL rank#8LaunchedFeb 2023Block time0.2 s

All networks

Total value locked$1.21B+0.9% in 24h · +0.3% in 7d

DEX volume · 24h$275M3.4% of all DEX trading

Stablecoins$7.47B2.4% of stablecoin supply

Fees · 24h$18KOct 5 · $613K over 30 days

Active addresses—No free data source for this network

Transactions · 24h—No free data source for this network

Protocols163Apps with value locked

HYPE price$92.83-0.3% in 24h · mcap $20.63B

Hyperliquid L1 TVL

Assets deposited in DeFi protocols on Hyperliquid L1, in US dollars.

Value locked$1.21B1.25% of all DeFi

Change · 1Y-$1.19B-49.5% over the period

Period high$2.41BOct 30, 2025

Period low$1.15BOct 3, 2026

Total value locked Touch the chart for valuesHover the chart for values

Network activity

Transactions, users, fees and trading over the past 90 days.

Transactions—

No free data source for this network

Active addresses—

No free data source for this network

Fees$18K+109.1% vs 30 days ago

DEX volume$275M+17.8% vs 30 days ago

Top protocols on Hyperliquid L1

Ranked by value locked on this network.

DeFi hub

#ProtocolValue locked here7d

1 HyperLendLending $410M +2.9% 2 HyperliquidDexs $367M +0.6% 3 MorphoLending $176M +0.2% 4 DeriveDerivatives $53.2M +7.7% 5 Project XDexs $40.6M +2.6% 6 Rysk FinanceOptions Vault $39.0M -3.8% 7 FelixCDP $32.6M +6.1% 8 nestDexs $26.5M +12.0%

Value locked on Hyperliquid L1 only, counted as in its TVL: bridges and deposits another app already counts are left out.

Stablecoins on Hyperliquid L1

Dollar stablecoins issued or bridged to Hyperliquid L1, and who issues them.

Supply$7.47BDollar stablecoins on Hyperliquid L1

7-day change-$136M-1.8%

1-year change+$1.44B+23.9%

By issuer

Share of stablecoin supply on this network.

USDC99% of supply$7.37B

USDT1% of supply$66.2M

FEUSD0% of supply$9.71M

USDe0% of supply$7.73M

USDH0% of supply$7.48M

Other stablecoins · 0%$7.36M

About Hyperliquid L1

How the network works, what it is used for and its main tokens.

Hyperliquid is a layer one blockchain that launched in February 2023. It is used mainly for trading: its decentralized exchange platform lets people trade crypto, commodities and indices, and its perpetual futures and spot markets run on the blockchain without taking custody of user funds. The wider ecosystem supports borrowing, lending and real world assets.

The network uses HyperBFT proof of stake for consensus and runs EVM smart contracts through HyperEVM. HYPE is its native token, used for staking, gas and trading fee discounts.

TypeLayer 1

ConsensusHyperBFT proof of stake

LaunchedFeb 2023

Block time0.2 s

Avg. TPS—

EVMYes (HyperEVM)

Top tokens

The native token and the largest ecosystem tokens by market cap.

HYPEHyperliquid L1 · native token$92.83-0.3% · $20.63B

PURRPurr$0.1536-8.8% · $91.4M

Hyperliquid L1 FAQ

Short answers to what people ask most.

As of 2026, apps on the network cover decentralized exchange trading, derivatives trading, lending and stablecoins minted against collateral. HyperLend, Hyperliquid and Morpho are among them.

HyperEVM is a layer that shares state and liquidity with other decentralized finance apps on the network.

According to its developers, Hyperliquid aims to upgrade the existing financial system with a transparent, efficient and resilient blockchain.

Hyperliquid L1 ecosystem news

The latest from the network and the apps built on it.

All news

Other networks

Networks ranked next to Hyperliquid L1 by value locked.