Hyperliquid DEX trading volumes cut into CEX market share: Data

Quick Summary:

This makes it one of the few decentralized platforms that handle BTC wrapping and unwrapping natively, giving users the option to use BTC for Web3-wallet-based trading.X user Skewga.hl noted that Hyperliquid’s BTC perpetual futures volume share recently hit an all-time high, reaching almost 50% of Bybit’s and 21% of Binance’s.Skewga.hl wrote,“No DEX has ever come this close to matching Tier 1 CEX volume.” Daily volume ratios, Hyperliquid vs Other exchanges (BTC perp).Source: Skewga.hlSince 2024, perpetual swaps have seen a revival as a trading tool.

Source: DefiLlamaDespite the recent JELLY token scandal, which involved the exchange halting trading and delisting a low-market-cap token that a whale had exploited, Hyperliquid remains a popular exchange among DeFi and DEX traders.

Hyperliquid takes the opposite approach: polish a native application and then grow into general-purpose infrastructure.”If this approach works, the liquidity driven by Hyperliquid’s core DEX could naturally feed into the broader ecosystem and vice versa, creating a flywheel effect.

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Article Details

Author / Journalist: Cointelegraph by Marie Poteriaieva

Category: Crypto

Markets: United States

Topics: Hyperliquid Market Billion Hyperliquid’s Volume Exchange Users Data Share Defi Trading

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-31 @ 22:30:00 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 615 words

Reading Time: 4 minutes read

Sentences: 32 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27498022

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