Perp DEX volume breaks $1 trillion to set a new record! Hyperliquid leads, followed closely by Lighter and Aster.

The trading volume of decentralized perpetual futures (Decentralized Perps) surpassed $1 trillion in October, breaking the record of $762 billion set in August, marking an unprecedented level of growth in the DeFi space. In this surge, Hyperliquid leads with a trading volume of $317.6 billion, followed closely by platforms such as Lighter, Aster, and edgeX. This strong momentum indicates that decentralized exchanges (DEX) are rapidly closing the market share gap with mainstream centralized exchanges (CEX) in the perpetual futures trading sector.

Volume Exceeds Trillion: DeFi Perptual Futures Market Welcomes Explosive rise

In October, the explosive rise in the trading volume of decentralized perpetual futures is a direct reflection of innovation and demand in the DeFi space, highlighting the enormous potential of DeFi in derivatives trading.

According to data from DeFiLlama, the trading volume in October has exceeded 1 trillion USD, setting a new high compared to 762 billion USD in August. At the current rate of rise, the total trading volume in October is expected to reach 1.3 trillion USD, almost double the previous record.

October 10th marks a record day for decentralized perpetual futures trading, with a single-day trading volume reaching 78 billion USD. This astonishing figure not only reflects the strong demand for decentralized derivatives in the market but also proves the reliability of DEXs in handling large-scale trading volumes.

The Appeal of Perptual Futures: High Leverage and 24/7 Trading

Perptual Futures, as a popular financial instrument, are driving a surge in decentralized trading due to their unique advantages, attracting a large number of traders seeking efficiency and flexibility.

Perptual Futures offer 24/7 trading, high leverage, and the opportunity to profit in both rising and falling markets, making them an ideal tool for speculative traders.

These features are particularly attractive to speculative traders seeking higher returns and minimal holding requirements, offering greater flexibility and opportunities compared to traditional financial instruments. In addition, the transparency and resistance to censorship of decentralized platforms have also become key factors in attracting users.

Hyperliquid Leading the Way: Successfully Achieving Scalability Innovation

Among many DEXs, Hyperliquid stands out with its technological innovation and user experience, becoming a market leader and proving that decentralized derivatives platforms can achieve high performance.

Hyperliquid contributed up to $317.6 billion in volume in October, capturing a significant market share. Infinex founder Kain Warwick emphasized that Hyperliquid is the first decentralized perpetual futures platform to successfully scale its operations, with its success attributed to its scalability and the user-friendly trading experience it offers.

In addition to Hyperliquid, other emerging DEXs such as Lighter, Aster, and edgeX also performed strongly, with trading volumes of $255.4 billion, $177.6 billion, and $134.7 billion respectively, collectively driving the overall rise of the decentralized Perptual Futures market.

DEXs Rapidly Approaching Mainstream CEX: Reshaping the Market Landscape

Although mainstream Centralized Exchanges still dominate the Perptual Futures market due to their deep liquidity, the rise of decentralized platforms is rapidly changing this market landscape, indicating that market share will undergo a structural shift.

DEXs are rapidly closing the gap, with their increasing popularity due to a series of innovations, including improved user interfaces and smoother trading experiences. While mainstream CEXs still maintain high trading volumes, the rise of DEXs is faster.

In a key strategic move, Hyperliquid completed its integration with one of the most popular crypto wallets, MetaMask, on October 8. This initiative significantly broadens its user base and accessibility, enabling millions of MetaMask users to easily access the decentralized perpetual futures market. As DEXs continue to evolve, they are expected to gain a larger market share.

Conclusion

The volume of decentralized perpetual futures trading surpassed 1 trillion USD in October, a strong testament to the robust demand and technological innovation in the DeFi sector. DEXs, led by Hyperliquid, are rapidly challenging the market dominance of traditional mainstream CEXs by offering efficient and flexible trading experiences. As DEXs continue to improve and enhance accessibility, the market expects them to further carve out a share of the perpetual futures market, signaling a qualitative leap in the core position of decentralized trading in the crypto financial landscape.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.