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Hyperliquid

Hyperliquid has captured nearly 6% of the global perpetual futures market in Mar. 2025, processing close to $200 billion in monthly volume and steadily <a href="https://yellow.com/news/hyperliquid-perpetual-dex-volume-share" rel="noopener noreferrer nofollow">eroding the dominance that centralized exchanges</a> have held over crypto derivatives trading.<h2 id="hyperliquid-perps-volume-growth">Hyperliquid Perps Volume Growth</h2>Centralized exchanges still handle the vast majority of perpetual futures activity, with more than $3 trillion in monthly volume. But Hyperliquid's share has <a href="https://www.theblock.co/post/395728/hyperliquid-gains-centralized-exchanges-perps-market-share-nears-6" rel="noopener noreferrer nofollow">climbed</a> from roughly 3.5% a year ago to just under 6% in March.<blockquote>The shift is notable because it occurred even as total exchange volumes fell from their Aug. 2025 peak.</blockquote>That pattern suggests the platform is capturing real market share, not simply benefiting from a rising tide.On-chain rivals like dYdX and GMX have not kept pace. Neither has matched Hyperliquid's trajectory in volume growth or product expansion, leaving it as the dominant decentralized perps venue.Also Read:<a href="https://yellow.com/news/bitget-ai-trading-account-getclaw" rel="noopener noreferrer nofollow">Bitget Launches Dedicated AI Trading Account For Its GetClaw Agent</a><h2 id="non-crypto-assets-expansion">Non-Crypto Assets Expansion</h2>The platform now offers 24/7 trading in commodities such as oil, and non-crypto volume accounts for a growing share of overall activity. That availability creates a practical edge over traditional venues.A trading firm that waits for the CME to open on Sunday evening carries weekend gap risk that a round-the-clock venue eliminates. If decentralized platforms continue to scale liquidity and broaden asset coverage, the addressable market extends into the multi-trillion-dollar universe of traditional derivatives — where settlement delays and limited market hours remain structural weaknesses.Read Next:<a href="https://yellow.com/news/bitcoin-below-67k-trump-vows-bomb-iran" rel="noopener noreferrer nofollow">Bitcoin Goes Below $67K After Trump Vows To Bomb Iran To 'Stone Ages'</a>

Hyperliquid Hits $200B Volume, Nears 6% Of Global Perps Trading

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