- Robinhood lists HYPE for U.S. spot trading amid growing exchange expansion.
- Hyperliquid reclaims top Perp DEX spot with $11.5B in daily volume.
- Year-to-date gain of 66% cements HYPE as a top DeFi performer.
Robinhood has officially listed Hyperliquid’s native token HYPE for spot trading in the U.S., expanding its growing roster of supported digital assets. The move comes as Hyperliquid reclaims the number one position among perpetual decentralized exchanges (Perp DEXs), overtaking CZ-backed Aster and Lighter in daily trading volume.
According to DeFiLlama, Hyperliquid recorded $11.5 billion in 24-hour trading volume and $6.9 billion in open interest — a strong comeback for the high-performance Layer 1 DEX that has been steadily capturing market share since Q2. The listing triggered an immediate market response, with HYPE surging over 10%, climbing from around $35 to above $40, breaking a critical psychological level.
Hyperliquid’s Dominance in Perp DEX Trading
The platform’s dominance is underscored by its consistent liquidity and growing derivatives market presence. While Aster leads in 7-day trading volume with $91.5 billion, Hyperliquid’s 24-hour activity indicates strong intraday demand and renewed capital inflows. Lighter, meanwhile, trails behind with $10.3 billion in daily volume.
Hyperliquid also ranks fourth in total protocol fees generated, behind Tether, Uniswap, and Circle — collecting $4.26 million in the past 24 hours and $24.6 million in the last week. These fees are partially redirected into HYPE buybacks, reinforcing the token’s utility and deflationary dynamics.
Strategic Moves and the $1 Billion Fundraise
Another catalyst fueling the rally is Hyperliquid Strategies’ proposed $1 billion capital raise, designed to strengthen liquidity provision and accumulate more HYPE tokens. This large-scale treasury build-up, combined with the Robinhood listing, positions HYPE as one of the most closely watched altcoins heading into Q4 2025.
Robinhood’s expansion — including recent listings of BNB, ASTER, XPL, and VIRTUAL — reflects a growing trend of U.S. exchanges embracing DeFi-native assets amid clearer regulatory signals under the Trump administration.
HYPE Price Outlook and Market Momentum
Despite a pullback from its $60 all-time high last month, HYPE remains up 66% year-to-date, making it one of the strongest-performing DeFi tokens of 2025. Technical analysts see $40–$42 as near-term resistance, with a breakout potentially paving the way back to the $50–$55 zone if buying momentum continues.
With Robinhood’s retail pipeline and Hyperliquid’s institutional-grade DEX traction converging, HYPE could be poised for renewed upside as Perp DEX volume and fee revenue accelerate.
