The volume of trading on the decentralized exchange hyperliquid reached a new monthly summit in July, establishing a record among perpetual term platforms perpetual while the activity of users continued to increase.
According to Defilma Data, the platform treated $ 319 billion in trades during the month – the highest monthly volume ever recorded in the DEFI perpetual space.
The hyperliquidal file is a sign of more traders using decentralized exchanges, which are starting to reduce the market share of centralized cryptocurrency exchanges (CEX).
Hyperliquid has won 35% of all blockchain revenues in July, capturing significant value at the expense of Solana, Ethereum and BNB, said Vaneck researchers in a monthly Crypto summary report.
“Hyperliquid was able to capture a large part of Solana’s momentum, and probably the Solana market capitalization because it offers a simple and very functional product,” said the manager of digital asset research, Matthew Sigel and the other analysts Patrick Bush and Nathan Frankovitz, in the report.
The milestone comes in despite the fact that the hyperliquid suffers from a breakdown that saw the merchants sidelined for about 37 minutes on July 29. The derivative platform has reimbursed affected users a total of $ 2 million, receiving community praise for rapid response.
The future crypto perpetuals allow traders to speculate on the prices of cryptocurrencies without expiration dates.
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Defi perple of almost $ 500 billion in record volume in the middle of hyperliquidal growth
The rapid growth of hyperliquids pushed the volume of collective negotiation of perpetual DEFI exchanges to a new monthly summit of $ 487 billion in July, marking an increase of 34% compared to the $ 364 billion recorded in June, according to Defilma data.
Edgex was the second larger platform with a monthly negotiation volume of $ 21 billion, followed by Myx Finance with more than $ 9 billion in volume for the month of July.
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Hyperliquidal, the seventh scholarship in global derivatives by daily trading volume, reached more than 604,400 registered users – an increase of 488,000 recorded on June 6, according to Dune data.
Hyperliquid gained popularity in April 2024 after launching points trading with an aggressive quotation strategy and an easy -to -navigate user interface.
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