Hyperliquid Tops $319B July Volume, Fuels $487B DeFi Futures

Hyperliquid, a Solana-based decentralized exchange, posted a record $319 billion in DeFi perpetual futures trading volume in July. This marked the highest monthly total ever on any DeFi perpetual futures DEX. According to DeFiLlama, Hyperliquid accounted for 35% of blockchain trading revenue that month. VanEck analysts attribute the surge to its user-friendly interface and aggressive spot trading listings since April. The July milestone increased total DeFi perpetual futures volume to $487 billion, a 34% rise from June’s $364 billion. EdgeX and MYX Finance ranked second and third with $21 billion and $9 billion respectively. Despite a 37-minute outage on July 29, Hyperliquid promptly reimbursed affected users with $2 million. By end-July, its user base surpassed 604 400, up from 488 000 in early June. The performance underscores growing demand for DeFi perpetual futures on decentralized exchanges. As DeFi platforms challenge centralized exchanges, Hyperliquid’s surge highlights traders’ preference for accessible perpetual contracts.