The Messari report shows that Hyperliquid's monthly transaction volume has increased by more than 4 times since October 2024, indicating the platform's rapid rise in the decentralized exchange market. Hyperliquid has cultivated a group of high-value, continuously active trading users, making it the only Layer 1 alternative in the market with a clear core user base. Its growth drivers include the introduction of new assets such as BTC in the cash market, expanding the trading ecosystem and competing with CEX; HyperEVM supports more third-party DeFi applications to enhance the ecological diversity of the chain; at the same time, the Assistance Fund (AF) reinvests HYPE tokens through transaction revenue to achieve structural value accumulation, a mechanism rare in most DeFi protocols. As the platform further optimizes the on-chain order book and attracts more users, its influence in the decentralized trading market is expected to continue to grow.