Hyperliquid’s trading volume reached an unprecedented $319 billion in July, setting a record for decentralized finance (DeFi) perpetual futures exchanges. The surge in volume indicates a growing preference for decentralized trading as more users shift away from centralized exchanges. Hyperliquid’s robust performance contributed significantly to the total trading volume of DeFi perpetual exchanges, which collectively reached $487 billion in July, a substantial increase from the previous month’s $364 billion. Research from VanEck highlights that Hyperliquid capitalized on Solana's market momentum by providing a user-friendly trading experience. Despite a brief outage which lasted about 37 minutes on July 29, during which the platform reimbursed users $2 million, Hyperliquid has maintained a strong reputation. The platform now boasts over 604,400 users, reflecting its expanding appeal since launching spot trading in April 2024.

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