HyperEVM has achieved a new milestone. With 106,375 weekly active addresses recorded between September 1 and September 7. The figure marks a historical high for the Ethereum Virtual Machine-compatible network. This highlights its growing adoption. Data compiled by blockchain researcher @Mausefalle25 shows that user participation on the network. This has continued to accelerate throughout 2025. This reflects its strengthening ecosystem.
The surge in active addresses indicates a widening base of users engaging with decentralized applications built on HyperEVM. This expansion has also coincided with increasing capital commitments across its DeFi platforms. This is pushing the network into new territory in terms of total value locked (TVL).
DeFi Protocols Drive Growth
HyperEVM’s TVL currently stands at about $1.97 billion. It’s edging closer to the $2 billion mark. The increase underscores robust activity within its DeFi protocols. Particularly, HyperLend and Morpho. According to the latest data, HyperLend accounts for $567 million in locked assets. Morpho has secured $521 million. Together, these two protocols contribute more than half of the network’s total locked value.
Other projects across the ecosystem have also played a role in driving inflows. Though HyperLend and Morpho remain the primary engines of growth. Their ability to attract sustained liquidity highlights user confidence. Also, the competitiveness of HyperEVM within the broader DeFi landscape.
Market Dynamics and Token Price
The growth in network activity comes as the native token, $HYPE, trades around $47.03. Price stability has been notable, given the volatility in broader crypto markets during recent months. While HyperEVM’s token remains below its earlier peaks. The continued rise in adoption and TVL suggests an underlying demand. That could support price resilience in the medium term.
Dune Analytics data further illustrates the pace of development. With transaction volumes trending upward since February. Transfers on the network have grown steadily through spring and summer. This is culminating in a busy September. The pattern reflects developer interest and increasing user activity across applications.
Long-Term Positioning in DeFi
HyperEVM’s expansion underscores the network’s positioning as a competitive player in the DeFi space. By achieving over 106,000 active addresses in a single week. The network has demonstrated that its infrastructure can scale to meet higher demand. This success is notable given the crowded field of EVM-compatible chains. Each is vying for users, liquidity, and developer talent.
The network’s ability to attract nearly $2 billion in TVL. That strengthens its credibility with institutional players and long-term investors. Sustained growth in user addresses and liquidity also signals that HyperEVM is moving beyond its initial adoption phase. Additionally, into a period of consolidation and ecosystem maturity.
Outlook
The market sentiment toward crypto remains cautious. HyperEVM’s performance reflects a strong fundamental trajectory. Continued engagement from developers and users, combined with steady inflows into DeFi protocols. This provides a base for further expansion. If transaction volumes and active addresses maintain their current momentum. The network could establish itself as a key destination for DeFi activity. Challenges remain, particularly around competition from established ecosystems. Such as Ethereum and newer entrants with aggressive incentives.
But HyperEVM’s steady user growth and liquidity base suggest that it has carved out a durable niche. Currently, HyperEVM stands out as one of the few networks. It combines record breaking user activity with significant liquidity growth. With $2 billion in TVL within reach and active addresses at all-time highs. The project appears well-positioned to navigate market cycles and competitive pressures.
