Hyperliquid’s july perpetual volume hits $218B, exceeding the other seven leading DEXs combined

https://crypto.news/what-is-hyperliquid-how-does-it-work/ Hyperliquid’s perpetual volume in July reached $218 billion, surpassing the combined volume of the other seven leading decentralized exchanges (DEXs), according to a report by WuBlockchain. This milestone highlights Hyperliquid’s significant market impact amid an overall strong month for onchain activity. The data comes as the decentralized finance sector experienced a surge, with DEXs collectively surpassing $1 trillion in monthly volume, and perpetual contracts reaching new highs. Hyperliquid operates on its own Layer 1 (L1) blockchain and has been noted for its record-breaking activity in July. The volume figure reported by WuBlockchain appears to differ from other industry sources such as DefiLlama, which estimated Hyperliquid’s monthly perpetual volume to be in the range of $313.4 billion to $323.4 billion. This discrepancy may arise from different methodologies in calculating volumes or varying reporting sources. Nevertheless, the reported $218 billion still places Hyperliquid ahead of its competitors, reinforcing its competitive position as a leading player in the decentralized exchange space. Markets seem to respond ...