Svmuu News: Crypto venture capital firm Pantera Capital stated in a post that Hyperliquid’s potential addressable market size is approximately $10 trillion in notional daily trading volume, including approximately $200 billion in 0DTE options and leveraged ETF trading, approximately $2 trillion in commodity derivatives trading, and approximately $8 trillion in foreign exchange derivatives trading.
Pantera noted that if Hyperliquid can consistently capture a low single-digit market share in these markets, its revenue potential could reach five times its current level. According to estimates, if the HIP-3 market’s annualized notional trading volume reaches 36,500 trillion dollars and Hyperliquid secures a 1% market share—assuming a combined fee rate of 2 basis points and a 50% revenue share for Hyperliquid—the platform’s revenue could reach approximately $3.7 billion.
However, Pantera notes that regulation remains the greatest risk facing Hyperliquid. Currently, perpetual contracts are not fully available in the United States; if the U.S. moves to legalize such products and introduce regulated platforms in the future, Hyperliquid may face more intense competition, and some U.S. users’ trading volume could shift to compliant trading venues. Pantera believes that Hyperliquid may also launch a regulated version for the U.S. market in the future.