DEX Trading Volumes Surge as Hyperliquid Sparks Market Shift

Trading on DEX platforms has jumped from just 2% to over 13% as more people choose faster and easier crypto options.

Hyperliquid’s huge 2024 token giveaway pulled in traders and proved that decentralized platforms can work just like big exchanges.

New DEXs like Aster and Avantis are making crypto trading smoother and quicker, helping more users switch from old-style exchanges.

Decentralized exchanges (DEXs) have witnessed one of their strongest growth phases in years. According to CryptoRank.io, the share of DEX futures trading volumes has skyrocketed from 2% in 2022 to over 13% by October 2025

The turning point came in late 2024 when Hyperliquid launched its massive airdrop of 310 million tokens on November 29. The event attracted liquidity and also proved that decentralized exchanges can match the performance of CEXs.

Following Hyperliquid’s success, new entrants like Aster DEX and Avantis Finance entered the market, accelerating growth and deepening competition within the DEX space.

Growth Momentum Reshapes Trading Activity

From July 2022 through mid-2023, DEX futures volumes barely moved, holding around 2% of total market activity. This period marked stagnation and low adoption among derivatives traders. However, by January 2024, a noticeable shift began. Volumes climbed above 5%, more than doubling the prior year’s average. Traders started showing confidence in decentralized platforms as technology and user experience improved.

Source: CryptoRank

Moreover, mid-2024 brought a brief pause in the rally as volumes stabilized near the 5% mark. This consolidation reflected short-term hesitation before renewed growth. By early 2025, trading activity accelerated again, reaching 7% in January. The upward curve steepened through the year, with October 2025 recording a historic peak above 13%—a more than sixfold surge from the 2022 baseline.

Newer systems like Aster DEX and Avantis Finance, in addition to Hyperliquid, have played a significant role in promoting innovation. DEX trading is now more competitive than ever thanks to their emphasis on deeper liquidity pools, enhanced user interfaces, and faster transaction speeds.

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