- Hyperliquid’s perps market share nears 6%
- Volumes approach $200 billion monthly
- Growth driven by 24/7 trading and new asset classes
- DEXs increasingly competing with centralized exchanges
Steady growth in derivatives trading
Hyperliquid has increased its share of the perpetual futures market to nearly 6%, up from around 3.5% a year ago.
This growth comes even as overall trading volumes have declined, indicating that the platform is actively capturing market share rather than benefiting from broader market expansion.
Why traders are shifting
One of Hyperliquid’s key advantages is its 24/7 trading model. Unlike traditional markets or many centralized exchanges, it allows continuous trading across both crypto and non-crypto assets.
This has become particularly important for assets like commodities, where price movements outside traditional market hours can create significant risks.
Expansion into real-world assets
The platform has begun offering tokenized exposure to assets like oil, bringing traditional markets into the decentralized trading environment.
This significantly expands the addressable market beyond crypto-native users and into global derivatives markets.
A structural shift in trading
If decentralized exchanges can continue improving liquidity and execution, they could compete directly with centralized platforms and even traditional exchanges.
Hyperliquid’s growth suggests that onchain trading is moving beyond niche use cases and starting to challenge established financial infrastructure.
