coin-img-ETHETH-2.83%coin-img-BTCBTC-1.83%coin-img-SOLSOL-2.96%coin-img-XRPXRP-3.98%coin-img-USDCUSDC+0.02%coin-img-FLYAIFLYAI-92.31%coin-img-HYPEHYPE+1.30%coin-img-TRXTRX-0.54%coin-img-ETHETH-2.83%coin-img-BTCBTC-1.83%coin-img-SOLSOL-2.96%coin-img-XRPXRP-3.98%coin-img-USDCUSDC+0.02%coin-img-FLYAIFLYAI-92.31%coin-img-HYPEHYPE+1.30%coin-img-TRXTRX-0.54%coin-img-ETHETH-2.83%coin-img-BTCBTC-1.83%coin-img-SOLSOL-2.96%coin-img-XRPXRP-3.98%coin-img-USDCUSDC+0.02%coin-img-FLYAIFLYAI-92.31%coin-img-HYPEHYPE+1.30%coin-img-TRXTRX-0.54%coin-img-ETHETH-2.83%coin-img-BTCBTC-1.83%coin-img-SOLSOL-2.96%coin-img-XRPXRP-3.98%coin-img-USDCUSDC+0.02%coin-img-FLYAIFLYAI-92.31%coin-img-HYPEHYPE+1.30%coin-img-TRXTRX-0.54%

Onchain perpetuals trading volume tops $15 trillion

AI Market Summary
CryptoRank data showing onchain perpetuals surpassing $15T in cumulative volume signals rapid maturation of decentralized derivatives liquidity, particularly during 2024-2025. Hyperliquid's sustained leadership since Jan 2026, with ~30% share, underscores venue concentration and reinforces the importance of perp DEX infrastructure to broader crypto market positioning, collateral flows, and volatility transmission in the near term.
Impact level
● Medium
Affected assets
HYPE/USDT+1.52%
AI Insight · HYPE/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
PANews, July 23 — CryptoRank data shows cumulative trading volume in onchain perpetual contracts has climbed past $15 trillion. The sharpest expansion came in 2024–2025, when volumes jumped 200%, fueled by Hyperliquid's scaling push and broader growth among onchain perpetual DEXs as the market gained traction. Since January 2026, Hyperliquid has remained the top venue, contributing 30% of total trading volume.
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