Hyperliquid drives $487B July surge in decentralized crypto trading
Hyperliquid processed $319B in trades last month, accounting for the majority of DeFi perpetual futures volume as decentralized exchanges gain traction.
Trading volume on the decentralized exchange Hyperliquid reached a new monthly high in July, setting a record among DeFi perpetual futures platforms as user activity continued to rise.
According to DefiLlama data, the platform processed $319 billion in trades during the month — the highest monthly volume ever recorded in the DeFi perpetual futures space.
Hyperliquid’s record is a sign of more traders using decentralized exchanges, which are starting to cut into the market share of centralized cryptocurrency exchanges (CEXs).
