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

Decentralized perpetual buying and selling has hit a brand new milestone, surpassing $1 trillion in month-to-month quantity for the primary time ever, with per week nonetheless left in October.

The surge displays rising urge for food for leveraged crypto buying and selling and a shift towards on-chain derivatives platforms.

According to DeFiLlama, October’s buying and selling exercise has already blown previous August’s $762 billion file, marking an explosive 30% month-on-month enhance.

Hyperliquid Leads DEX Surge as Daily Perp Volume Hits $78 Billion

Leading the cost is Hyperliquid, which has processed $317.6 billion in trades to date, adopted by Lighter ($255.4 billion), Aster ($177.6 billion), and edgeX ($134.7 billion).

Collectively, decentralized exchanges (DEXs) recorded an unprecedented $78 billion in buying and selling quantity on Oct. 10 alone.

At the present tempo, decentralized perpetual platforms are on observe to shut the month at round $1.3 trillion, practically doubling the earlier all-time high.

The rising demand for perpetual swaps, derivatives that enable merchants to guess on value actions with out proudly owning the underlying asset, is being fueled by their flexibility: 24/7 buying and selling, high leverage, and no expiration dates.

Despite the surge, DEXs nonetheless path far behind centralized exchanges (CEXs) such as Binance and Bybit, which noticed $69.3 billion and $26 billion in each day quantity, respectively, in response to CoinGecko.

However, analysts word that the hole is narrowing as decentralized platforms enhance person interfaces, execution velocity, and liquidity entry.

Industry figures credit score Hyperliquid with bringing decentralized perps into the mainstream. “It was the primary to essentially get it proper and scale efficiently,” Infinex founder Kain Warwick mentioned earlier this month.

The platform’s momentum was additional boosted after MetaMask built-in Hyperliquid on Oct. 8, permitting customers to commerce perpetual swaps immediately from their wallets.

The record-breaking month underscores how decentralized finance continues to mature, with perps buying and selling rising as one among its fastest-growing frontiers.

Hyperliquid 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 make use of the proceeds to develop its crypto holdings and purchase extra HYPE tokens.

The transfer marks a significant step in the agency’s push to strengthen its presence in the decentralized derivatives market.

Chardan Capital Markets is advising on the providing, which incorporates as much as 160 million shares of widespread inventory.

The firm will emerge from the merger between Sonnet BioTherapeutics and Rorschach I LLC, a SPAC deal that may kind the brand new Hyperliquid Strategies entity.

Upon completion, David Schamis will serve as CEO and Bob Diamond, former Barclays chief, will take the position of chairman.

News of the submitting drove HYPE token costs up 8% to $37.73, even as the broader crypto market declined barely.

Once the merger closes, Hyperliquid Strategies is anticipated to carry 12.6 million HYPE tokens value about $470 million, alongside $305 million in money put aside for additional acquisitions, making it the biggest company holder of HYPE.

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