Trade volume on decentralized exchange-hyplid rose to a new monthly of all time high in July, which marks a record for decentralized finances (Defi) Eternal Futures exchanges as more traders came to them.
Hyperliquid hit $ 319 billion in trade volume in July, which marked a new monthly record high for all Defi Perpetual Futures exchanges, according to Defillama Data.
The Hyperliquid record is a sign of more traders who use decentralized exchanges that start to cut into the market share of centralized cryptocurrency exchanges (CEXS).
Source: Defillama
Hyperliquid earned 35% of all blockchain income in July, with a significant value at the expense of Solana, Ethereum and BNB chain, said Vaneck researchers in a monthly crypto -entertain report.
“Hyperliquid was able to catch a lot of Solana’s Momentum, and probably the market capitalization of Solana, because it offers a simple, very functional product,” said Vaneck Head of Digital Assets Research, Matthew Sigel and fellow analysts Patrick Bush and Nathan Frankovitz, said in the report.
Hyperliquid earned more than a third of all blockchain income in July. Source: Chatter
Despite Hyperliquid, the milestone, who suffers from a malfunction in which traders put about 37 minutes offside on July 29. The derivatives platform reimbursed affected users a total of $ 2 million, and received community praise for the quick response.
Crypto Perpetual Futures enable traders to speculate about cryptocurrency prices without expiry dates.
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Defi -Persps in the vicinity of $ 500 billion record volume in the middle of the growth of hyperliquid
The rapid growth of Hyperliquid pushed the collective trade volume of Defi -central exchanges to a new monthly high point of $ 487 billion in July, which marked an increase of 34% compared to the $ 364 billion registered in June, the Defillama data turned out.
Defi-perps, collective monthly trade volume, all-time graph. Source: Defillama
Edgeex was the second largest platform with a monthly trading volume of $ 21 billion, followed by MyX Finance with more than $ 9 billion volume for the month of July.
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Because the world’s seventh largest derivative exchange due to daily volume, Hyperliquid has more than 604,400 users, an increase of 488,000 that was registered two months ago, on June 6, according to Dune data.
Source: Duin
Hyperliquid became popular in April 2024 after launching spot trade with an aggressive list strategy and easy to navigate user interface.
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