Hyperliquid leads the perpetual DEX market with $35.4B weekly volume and strong user activity across the sector.
Hyperliquid leads the perpetual DEX market with strong weekly trading activity. The trading volume on the platform for the last 7 days was $35.4B. This performance puts Hyperliquid on top of other major decentralized trading platforms.
Hyperliquid Dominates Weekly Trading Volume Among Perpetual DEX Platforms
Perpetual decentralized exchanges enable traders to buy and sell futures contracts without an expiry date. These platforms are based on blockchain networks and do not have centralized custody. Therefore, users are in control of their funds while trading.
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Recent market data shared by Phoenix Group indicates that Hyperliquid is the leader in the sector. The platform had $35.4B in trading volume during the last 7 days. Because of this, it was first in the list of the top 15 perpetual decentralized exchanges.
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Hyperliquid also reported great user participation throughout its trading ecosystem. The platform had about 314.0K active addresses over the past 30 days. Meanwhile, the exchange has approximately $4.2B total value locked. These numbers indicate a high level of liquidity and constant engagement of traders.
Other decentralized exchanges also posted significant weekly trading activity. Lighter came in second with some $17.0B in weekly trading volume. The platform also had 248.1K active addresses in the last 30 days. And its total value locked stood at approximately $873.0M.
Aster was right behind at $16.4B of trading volume per week. The decentralized platform currently has about $1.0B in total value lock. These results demonstrate that there are several platforms that are experiencing strong adoption of decentralized derivatives trading.
EdgeX was also listed among the top exchanges in the week-to-week ranking. The platform handled approximately $15.6B in trading volume in the same period. However, its user activity was still less with around 13.4K active addresses. It has a total value locked of almost $182.4M.
ApeX topped the list of 5 best-performing perpetual decentralized exchanges. The platform recorded around $8.3B in weekly trading volume. Meanwhile, its active address number increased to around 1.4K within the past 30 days. Its total value locked was still close to $38.4M.
Decentralized Derivatives Platforms Continue Expanding Rapidly
Decentralized trading of derivatives has grown rapidly throughout the blockchain industry. Many traders prefer the decentralized platforms as they provide transparency and direct control of the asset.
Market tracking platforms like DefiLlama also report high activity across the perpetual exchanges. Daily trading volume on Hyperliquid is often between $5B and $6B. These consistent volumes help to support its large weekly totals.
Liquidity is a crucial factor for success in decentralized trading of derivatives. The deeper liquidity pools bring in larger trading positions to platforms that have them. As a result, Hyperliquid has $4.2B locked assets, giving it a stronger competitive position in the sector.
At the same time, the decentralized exchange industry is constantly evolving. Developers are working on improving the infrastructure, lowering trading fees, and adding new blockchain integrations. These changes are an attempt to attract more users coming from centralized exchanges.
The ranking that Phoenix Group shares underlines how competitive the perpetuous DEX sector has become. Weekly volumes can fluctuate rapidly based upon market activity. However, Hyperliquid currently has a strong lead among decentralized derivatives platforms.
As blockchain trading continues to grow, decentralized exchanges could gain more market share. Strong liquidity and transparent systems and increasing user adoption are supporting this trend. Therefore, Hyperliquid’s current leadership is due to the increasing importance placed upon on-chain perpetual trading markets.
