Hyperliquid Leads DEX Surge as Perp Trading Volume Tops $1 Trillion in Record-Breaking October

Decentralized perpetual trading has hit a new milestone, surpassing $1 trillion in monthly volume for the first time ever, with a week still left in ￰0￱ Takeaways: Decentralized perpetual trading volume surpassed $1 trillion in October, setting a new monthly ￰1￱ led the surge with over $317 billion in trades, contributing to a $78 billion single-day volume ￰2￱ gap between DEXs and CEXs is narrowing as decentralized platforms improve speed, liquidity, and ￰3￱ surge reflects growing appetite for leveraged crypto trading and a shift toward on-chain derivatives ￰4￱ to DeFiLlama , October’s trading activity has already blown past August’s $762 billion record, marking an explosive 30% month-on-month ￰5￱ Leads DEX Surge as Daily Perp Volume Hits $78 Billion Leading the charge is Hyperliquid, which has processed $317.6 billion in trades so far, followed by Lighter ($255.4 billion), Aster ($177.6 billion), and edgeX ($134.7 billion).

Collectively, decentralized exchanges (DEXs) recorded an unprecedented $78 billion in trading volume on Oct. 10 ￰6￱ the current pace, decentralized perpetual platforms are on track to close the month at around $1.3 trillion, nearly doubling the previous all-time ￰7￱ growing demand for perpetual swaps, derivatives that allow traders to bet on price movements without owning the underlying asset, is being fueled by their flexibility: 24/7 trading, high leverage, and no expiration dates.) such as Binance and Bybit, which saw $69.3 billion and $26 billion in daily volume, respectively, according to CoinGecko. However, analysts note that the gap is narrowing as decentralized platforms improve user interfaces, execution speed, and liquidity ￰8￱ figures credit Hyperliquid with bringing decentralized perps into the mainstream.

“It was the first to really get it right and scale successfully,” Infinex founder Kain Warwick said earlier this ￰9￱ platform’s momentum was further boosted after MetaMask integrated Hyperliquid on Oct. 8, allowing users to trade perpetual swaps directly from their ￰10￱ record-breaking month underscores how decentralized finance continues to mature, with perps trading emerging as one of its fastest-growing ￰11￱ Strategies to Raise $1B to Become Largest HYPE Token Holder As reported, Hyperliquid Strategies has filed with the US Securities and Exchange Commission (SEC) to raise up to $1 billion , with plans to use the proceeds to expand its crypto holdings and acquire additional HYPE ￰12￱ move marks a major step in the firm’s push to strengthen its presence in the decentralized derivatives ￰13￱ Capital Markets is advising on the offering, which includes up to 160 million shares of common ￰14￱ company will emerge from the merger between Sonnet BioTherapeutics and Rorschach I LLC, a SPAC deal that will form the new Hyperliquid Strategies ￰15￱ completion, David Schamis will serve as CEO and Bob Diamond, former Barclays chief, will take the role of ￰16￱ of the filing drove HYPE token prices up 8% to $37.73, even as the wider crypto market declined ￰17￱ the merger closes, Hyperliquid Strategies is expected to hold 12.6 million HYPE tokens worth about $470 million, alongside $305 million in cash set aside for further acquisitions, making it the largest corporate holder of HYPE.