Ethereum vs Hyperliquid L1

Compare Ethereum and Hyperliquid L1 on TVL, fees, revenue and activity to understand how these projects stack up.

$48.486B
Ethereum is the leading smart‑contract platform, now running Proof‑of‑Stake after the 2022 ‘Merge’ and gearing up for full Danksharding. Proto‑danksharding (EIP‑4844) activated blob transactions in March 2024, slashing rollup data costs by > 90 %. The upcoming Pectra upgrade will pair Verkle trees with wallet abstraction (EIP‑4337) to simplify UX.
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$1.534B
Hyperliquid is a performance‑tuned Layer‑1 that employs HyperBFT consensus—an optimised HotStuff variant—to finalise blocks in 400 ms. Its on‑chain order book matches > 100k orders per second without gas, made possible by an in‑memory state machine replicated across 32 validators. Launched in April 2024, the chain settles $4‑6 billion daily volume in perpetual futures and supports CosmWasm smart contracts for third‑party dApps.
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Key Metrics Comparison

Ethereum
TVL
$48.486B
24h Volume
$30.63M
24h Fees
$0
24h Revenue
$0
30d Fees
$0
30d Revenue
$0
7d TVL Change
-0.37%
Dominance
17.42%
Hyperliquid L1
TVL
$1.534B
24h Volume
$30.63M
24h Fees
$8.3K
24h Revenue
$4.2K
30d Fees
$4.03M
30d Revenue
$1.14M
7d TVL Change
-2.03%
Dominance
0.55%

Category Performance

Visual comparison across key categories. Ring fill represents relative strength or share between the two assets.

TVL Share

Share of combined TVL

TVL Share
Ethereum
96.9%
Hyperliquid L1
3.1%

Volume Share

Share of combined 24h volume

Volume Share
Ethereum
50.0%
Hyperliquid L1
50.0%

Fees Share

Share of combined 24h fees

Fees Share
Ethereum
1.0%
Hyperliquid L1
100.0%

Revenue Share

Share of combined 24h revenue

Revenue Share
Ethereum
1.0%
Hyperliquid L1
100.0%

7d TVL Performance

TVL change over last 7 days

7d TVL Performance
Ethereum
-0.37%
Hyperliquid L1
-2.03%

Dominance

Market dominance by TVL

Dominance
Ethereum
17.4%
Hyperliquid L1
0.6%
TVL Comparison
Ethereum
Hyperliquid L1