According to @ThinkingUSD, Hyperliquid’s Equity Perpetual swaps have surpassed 200 million dollars in traded volume (source: @ThinkingUSD on X, Nov 19, 2025). The product is described as one of the fastest-growing in crypto despite previously higher fees (source: @ThinkingUSD on X, Nov 19, 2025). Hyperliquid has introduced a new “Growth mode” that reduces trading fees by 90 percent (source: @ThinkingUSD on X, Nov 19, 2025). Based on this fee cut, the author states that volumes could exceed 2 billion dollars by the end of the year (source: @ThinkingUSD on X, Nov 19, 2025).