Bybit & Block Scholes Report Reveals Surge in Perp DEX Adoption

A recent report from Bybit, a leading cryptocurrency exchange, sheds light on the burgeoning world of decentralized perpetual exchanges (perp DEXs). The report highlights the significant growth of perp DEXs, which have gained traction since late 2024, reshaping the trading landscape with their speed, accessibility, and transparency. Hyperliquid, a prominent perp DEX, has dominated the market share, capturing over 58% of trading volume across top eight platforms in 2025, consistently outperforming Uniswap’s performance.