Hyperliquid, the decentralized perpetual exchange, outperformed Robinhood for the third consecutive month in monthly trading volume. This milestone has further solidified Hyperliquid’s position as a dominating decentralized derivatives markets.
The month of July marked the largest gap of 39.1%, largely due to increased market activity. According to data from DefiLlama, Hyperliquid generated $330.8 billion in combined spot and perpetual trading volume, surpassing Robinhood’s total of $237.8 billion across all products.
In July, Robinhood’s volume was composed of $209.1 billion from equities, $195.8 million from options, and $28.7 billion from crypto, as per its Operating Data report.
Meanwhile, Hyperliquid’s trading volume continued to climb, with the platform trading volume reaching $256 billion in May, 25% higher compared to Robinhood’s $192 billion, followed by $231 billion versus $193 billion in June.
For the present month, Hyperliquid has already surpassed $349 billion in monthly trading volume. These numbers reflect growing interest for decentralized protocols for trading cryptocurrencies rather than centralized platforms.
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