Hyperliquid Hits All-Time Highs with $320B Trading Volume and 75%+ DEX Market Share in July
Hyperliquid, the decentralized perpetual futures exchange, shattered its previous records with nearly $320 billion in trading volume in July 2025—a 47% month-over-month jump from June’s $216 billion and a 28% surge over its prior all-time high in May. The platform’s explosive growth has been underpinned by its consistently dominant 75%+ market share in the decentralized perps (perpetual futures) DEX space.
Record Volume: $319–$320 billion July trade volume, the highest ever for Hyperliquid or any DeFi perp DEX, driven by both institutional and retail demand.
Historic Market Share: Maintains over 75% share in the decentralized perps market, setting the pace for rivals.
User Growth: Active user base grew to over 600,000, up from around 488,000 just two months earlier.
Operational Excellence: Hyperliquid’s custom Layer 1 blockchain, zero gas fees, and ability to process 100,000+ orders per second have delivered a CEX-like user experience and deep liquidity.
Revenue: Captured 35% of all blockchain protocol revenue in July, topping Solana, Ethereum, and BNB Chain.
Hyperliquid/Binance Ratio: Hyperliquid’s July volume was 11.89% compared to Binance's $2.59 trillion perps tally, a new high that underscores DeFi’s rising challenge to traditional CEX dominance.
Native Token—HYPE: HYPE peaked at $49.75 in July, with 97% of protocol fees going to buybacks/burns, bolstering token value and community alignment.
Hyperliquid now stands as the 7th largest derivatives exchange worldwide (including CEXs), demonstrating both massive volume and user trust. Its rapid ascent showcases the growing preference for decentralized, transparent on-chain futures trading.
#Hyperliquid $HYPE