Hyperliquid EVM Surges to $1.7 Billion TVL with 337% Year-to-Date Growth

Hyperliquid EVM has had an extraordinary growth spurt this year, with its total value locked (TVL) shooting up to $1.7 billion. That is a mind-boggling 337% increase from the $400 million it had at the start of the year, and it puts Hyperliquid firmly among the top DeFi protocols in terms of TVL. What this growth reflects, what it is sourcing itself from, is certainly the desire in the market for innovative DeFi infrastructure that commands the attention of developers and users alike. Hyperliquid’s total value locked now makes it a top DeFi protocol by that metric. 1/ Hyperliquid EVM has reached $1.7B in TVL, representing a 337% YTD increase from $400M. Breaking down the Hyperliquid ecosystem protocols leveraging programmable finance primitives: builder codes, auctions, and Hypercore/EVM composability, only possible on @Hyperliquidx : pic.twitter.com/JZZvcWzeyy — Blockworks Research (@blockworksres) June 12, 2025 Hyperliquid is an ever-growing ecosystem that attracts a variety of projects. These projects develop new financial products and services, taking full advantage of Hyperliquid’s programmable architecture. There is a new surge in adoption that is resulting from this. More sophisticated DeFi building blocks are being demanded that go beyond what conventional smart contracts can deliver. Hyperliquid is a prime testing ground for what decentralized protocols can achieve. Innovative Protocols Powering the Ecosystem Hyperliquid’s success is built on a code architecture that allows protocols to do the kinds of things Hyperliquid needs them to do to succeed, like routing trades through Hypercore orderbooks, for instance. And this is quite modular; you could even say it’s a set of Lego bricks. So if you’re a protocol developer, or an orderbook developer, or mind-melding to do both, you can use it at varying levels of depth, like with good ol’ Lego. Pvptrade uses this same architecture, but through a Telegram bot interface, provides an accessible and innovative trading experience. Redacted similarly, Axiom Exchange has built a trading terminal that captures value by using Hyperliquid’s flexible infrastructure and providing users with an experience that is quite unlike that which is found at most other centralized exchanges. Another vital stroke of genius is the auction mechanism of HIP3, which currently resides in testnet, enabling builders to create bespoke markets with configurable fees not exceeding 50%. This framework has already pulled in dedicated projects like Hyperunit, testing leveraged equity products, and Ethena Labs, doing their work with USDe trading pairs. Allowing these sorts of structures and configurations is simply a giant leap in the path toward even more innovative DeFi applications catering to an ever-diverse set of trader needs. Cross-Layer Composability Unlocks New Financial Architectures One of the most groundbreaking features of Hyperliquid is the profound composability of the Hypercore and Hyperliquid EVM, which partake in the shared state of the protocol. This architecture allows reading and writing of data at the layer between the Hypercore and the Hyperliquid EVM with the same fluidity and coherence with which data is handled at the layer between two Hyperliquid EVMs. Why is that important? Because it permits seamless transactions that can span not merely multiple smart contracts but also multiple blocks. This composability’s power is demonstrated in several protocols already. Hyperlendx offers liquid perpetual positions by allowing users to borrow and lend against leveraged Hypercore positions. Felix Protocol extends capital efficiency by facilitating stablecoin borrowing against Hypercore positions. Liminal Money spotlights the cross-layer synergies available in the DeFi ecosystem. Liminal Money is an automated delta-neutral farming strategy. It operates from the EVM layer, accepting deposits in USDC. It interacts with Hypercore to do spot purchasing. And it uses the equivalent short positions to maintain market neutrality. You could say that Liminal Money is a dynamically layer-crossing strategy. But to be honest, it is also good practice to avoid buying the top and selling the bottom. The capabilities of builder codes, HIP3 auctions, and the composability of Hypercore/HyperEVM are enabling protocol architectures that, until now, were impossible within classical DeFi frameworks. Lending, options, liquid staking tokens (LSTs), and dApps are going to be integrated into an ecosystem where these primitives interact with Hypercore’s deep liquidity pools. The financial ecosystem that results from this integration will be both fully integrated and highly efficient. A borrowing and lending ecosystem doesn’t work if you can only borrow from one set of liquidity pools; it only works if you can borrow from many pools and many different kinds of lenders. Liquidity is the Cooper Union of financial investigations. Conclusion: Toward a Unified DeFi Financial System Decentralized finance has reached a new significant milestone with the rapid ascension of Hyperliquid EVM and its ecosystem. The rise of Hyperliquid EVM marks yet another step in the march of decentralized protocols toward providing programmable, permissionless, and composable financial services to all. What is happening around Hyperliquid EVM is no longer just an experiment; it is clearly a viable, real-world chapter in the DeFi universe. As adoption accelerates and fresh protocols appear, Hyperliquid is making itself into a base element of the pending next wave of DeFi innovation. The vision of a fully integrated financial system—where lending, trading, and asset management share liquidity layers and thus if not converge, then alternate seamlessly—is an emerging reality, one that with each passing day seems to promise to unlock new possibilities for traders, developers, and investors. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

Source: NullTx