Hyperliquid gains ground on centralized exchanges as perps market share nears 6%
The Block
Hyperliquid is capturing significant market share from centralized exchanges, with its perpetual futures volume approaching 6% of the total market.Summary
Hyperliquid is increasingly challenging centralized exchanges, with its share of perpetual futures volume rising to nearly 6% in March, up from 3.5% a year ago. Despite a broader market slowdown, Hyperliquid has maintained growth, distinguishing itself from other decentralized competitors like dYdX and GMX. The platform's expansion into 24/7 trading for non-crypto assets, such as oil, provides a structural advantage over traditional markets by eliminating weekend gap risks, positioning it to potentially disrupt the multi-trillion dollar traditional derivatives sector.
(Source：The Block)