Hyperliquid Remains Market Leader in Decentralized Perpetual Futures Trading

Despite market share decline, analysis by Patrick Scott reveals Hyperliquid maintains the top spot in perpetual futures trading. While DEXs saw a significant surge in market share from under 2% in 2022 to over 20% in September, Hyperliquid’s volume share dropped from 45% to 8%, while Aster, linked to Binance, reached $270 billion in weekly transactions. Scott’s analysis scrutinizes not only Hyperliquid but also the ecosystem’s token, HYPE. He highlights that open positions, a key indicator of liquidity and stability, remain with Hyperliquid leading the field at approximately 62% market share in the perpetual futures DEX segment as of October.