Hyperliquid, a decentralized platform for futures trading, set a new record in July 2025, reaching a trading volume of nearly $320 billion. This is 47% higher than in June ($216 billion), and 28% above the previous peak of $248 billion in May. The platform maintains a dominant position in the DEX market, holding over 75% market share, and achieved 11.89% of Binance's futures trading volume. The growth is supported by increased interest in trading altcoins and Ethereum, which nearly doubled the open interest. Despite the success, the token $HYPE fell by 17% due to risk aversion and decreased liquidity.
Hyperliquid features zero gas fees, a fully on-chain order book, and instant transaction processing in less than a second. These features attract traders, although the overall DEX to CEX market share remained stable at 7.77% in July. The platform continues to compete with centralized exchanges, showcasing the potential of decentralized finance. Experts predict further growth if the infrastructure continues to develop.
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