Hyperliquid captures 6.1% market share against CEXs, DWF Ventures reports
According to a new analysis released by DWF Ventures on August 15, 2025, Hyperliquid’s decentralized perpetual exchange has reached an all-time high market share of 6.1% against centralized exchanges (CEXs), becoming a major competitor to traditional futures trading platforms. The report from DWF Ventures, the investment arm of DWF Labs, charts Hyperliquid’s evolution from an Arbitrum-based PerpDEX to its current Layer 1 platform following migration to HyperEVM and the HYPE token airdrop. Community-first strategy DWF Ventures attributes Hyperliquid’s success to its absence of early-stage VC funding, instead focusing on refining UX and organically growing its community. This approach was rewarded…






