Hyperliquid tops $319B July volume, a Record for any DeFi Perp DEX

Trading volume on decentralized exchange Hyperliquid surged to a new monthly all-time high in July, marking a record for decentralized finance (DeFi) perpetual futures exchanges as more traders flocked to them.

Hyperliquid hit $319 billion of trading volume during July, marking a new monthly record high across all DeFi perpetual futures exchanges, according to DefiLlama data.

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).