# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is measured as the number of unique addresses that initiate transactions on HyperEVM. This metric is utilized to evaluate the scale of the user base and the level of engagement with the HyperEVM execution layer. Activity is aggregated over 30-day rolling windows to provide a consistent monthly measure of network participation.

## 2. Data sources

- **Blockchain events**: Transaction data from HyperEVM

## 3. Step-by-step calculation

### Component A: HyperEVM transaction sender identification

- **Purpose**: Identify the unique addresses responsible for network activity on HyperEVM.
- **Logic**: The `from_address` field is parsed from all transaction records on HyperEVM. These addresses are categorized as "Transaction sender" entities. Data is standardized through safe casting to ensure address strings are valid for aggregation.
- **Key fields**: `from_address` (user identification), `block_timestamp` (timing)

### Monthly aggregation

- **Purpose**: Calculate the total number of unique monthly participants.
- **Logic**: Transaction timestamps are truncated to 30-day rolling window granularity in UTC. The number of distinct `from_address` values is calculated for each 30-day window. The resulting dataset is filtered to include only records starting from June 1, 2025.
- **Key fields**: `block_timestamp` (temporal grain), `user_address` (count basis)---

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique revenue-generating users over a rolling 30-day window.

Active users (monthly)

Blockchains (L1)

Hyperliquid generates revenue through on-chain perpetual futures and spot trading, facilitated by its HyperCore execution layer. Every order, trade, and liquidation occurs on-chain with one-block finality, enabling ultra-low latency and transparent trading. Liquidity providers and market makers earn supply-side fees from bid-ask spreads and transaction rebates, while network participants can earn governance and staking rewards via the HYPE token.

Hyperliquid is a layer-one (L1) blockchain purpose-built for trading and decentralized finance. It combines: HyperCore, the high-performance trading engine powering perpetuals, spot markets, and oracles; HyperEVM, a fully compatible smart contract layer enabling developers to build DeFi applications such as lending, vaults, governance, bridges, and stablecoins directly on-chain. Its consensus mechanism, HyperBFT, is a custom algorithm inspired by HotStuff, optimized for throughput (200k+ orders/sec) and deterministic finality. The HYPE token underpins the network, granting holders rights to participate in governance, staking, and securing the protocol — effectively letting users own a share of the Hyperliquid ecosystem.

HYPE tokenholders own, govern, and secure the Hyperliquid network through on-chain governance. The Hyper Foundation oversees community governance and ecosystem growth, ensuring decentralization and alignment of incentives across traders, builders, and validators. Hyperliquid’s investors include Tioga Capital Partners, Collab+Currency, Infinite Capital (San Juan), Optimista Capital, and RockawayX, all holding minority venture capital positions.

HyperEVM

Active users (monthly)

Active users (monthly)

Chain breakdown