Perp DEX Trading Volume Reaches $423 Billion in 30 Days, Hyperliquid Holds 58% Market Share
The trading volume of the top 8 perpetual futures decentralized exchanges (Perp DEX) has been recorded at $423 billion over the past 30 days. Among them, Hyperliquid maintained its lead with a market share of 58%. According to CryptoRank data, the trading volume of the top 8 Perp DEXs increased by 9.1% compared to the previous 30 days. Hyperliquid's trading volume was approximately $248 billion, reflecting a 21% increase during the same period. Aster recorded about $50 billion, while Lido accounted for approximately $37.8 billion. The combined share of Hyperliquid, Aster, and Lido platforms reached about 79% of the trading volume of the top 8 Perp DEXs. Perp DEXs are markets that trade perpetual contracts in a decentralized manner, allowing users to open and close positions on-chain or via their own networks without depositing assets in centralized exchanges. Trading volume is merely an indicator of platform usage scale and does not directly explain token prices, profitability, or user gains and losses. Hyperliquid's trading volume share illustrates the central axis of the Perp DEX market, revealing that differences in figures from various aggregators make it difficult to assess platform competitiveness based solely on a single trading volume metric.
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