Hyperliquid Surpasses $248 Billion in Perpetual Trading Volume, Demonstrates DeFi Dominance

Hyperliquid, a decentralized derivatives exchange, achieved a record-breaking $248 billion in perpetual trading volume during May 2025. This milestone represents over 10% of Binance’s perpetual contract flow, highlighting its growing influence in the DeFi space. The surge is fueled by increasing regulatory scrutiny on centralized exchanges, driving both retail and institutional interest towards decentralized alternatives.