Hyperliquid’s Perpetual Contract Volume Surges to $2.48 Trillion in May, Outpacing Binance with Historic 10.54% Market Share

Hyperliquid’s perpetual contract trading volume surged to unprecedented levels in May, reaching over $2.48 trillion, marking a significant 51.5% month-over-month increase. This robust growth underscores the platform’s expanding influence within the crypto derivatives market. When compared year-over-year, the May 2024 volume of $263 billion represents an impressive 843% increase, highlighting strong adoption and liquidity expansion.

Additionally, Hyperliquid’s market share relative to Binance, a leading centralized exchange, climbed to a record 10.54% in May, surpassing April’s previous peak of 9.76%. This milestone reflects a shifting dynamic in perpetual contract trading, with decentralized platforms gaining traction against established centralized counterparts. These figures emphasize Hyperliquid’s growing prominence and the evolving landscape of crypto derivatives trading.