Hyperliquid Perpetual Futures Volume Share Hits Record 6.63% of CEX in May
Hyperliquid's share of perpetual futures trading volume on centralized exchanges rose to a record 6.63% in May, driven by the HIP-3 proposal, though dollar-denominated volume saw a slight month-on-month decline.
In May, Hyperliquid's perpertual futures volume accounted for a record 6.63% of total centralized exchange (CEX) turnover, representing approximately $200 million out of $3 trillion. The growth was largely fueled by the implementation of the HIP-3 proposal, which generated over $62 billion in volume and roughly $3 billion in open interest during the past month.
However, in absolute dollar terms, Hyperliquid's perpetual trading volume edged slightly lower compared to the previous month, indicating that the record market share gain was partly driven by a decline in overall CEX activity rather than an outright surge in Hyperliquid volumes.
Source: ForkLog