Hyperliquid's perpetual trading volume hit $218 billion in July, according to a WuBlockchain report, exceeding the combined volume of the other seven leading decentralized exchanges. The figure sits well below DefiLlama's own estimate for the same month, a gap the report attributes to differing measurement methods, while market odds on Hyperliquid hitting $100 by year-end edged only slightly lower.
Hyperliquid's perpetual volume in July reached $218 billion, surpassing the combined total of the other seven leading decentralized exchanges (DEXs), according to a report from WuBlockchain. The exchange runs on its own Layer 1 blockchain and has drawn attention for record onchain activity through the month.
DEX volume tops $1 trillion for the month
Decentralized finance broadly had a strong July. DEXs collectively surpassed $1 trillion in monthly volume, and perpetual contracts across the sector reached new highs. Hyperliquid's reported total still placed it ahead of every other DEX individually and of the rest combined.
Rival data source shows a far larger number
A different tracker tells a wider story. DefiLlama estimated Hyperliquid's monthly perpetual volume in a range of $313.4 billion to $323.4 billion, well above the $218 billion WuBlockchain reported. The gap likely stems from differing methodologies or reporting sources rather than a dispute over Hyperliquid's standing, since both figures still rank it as the leading DEX by volume.
Traders trim year-end price odds
Sentiment around Hyperliquid has not moved in lockstep with the volume news. The probability of Hyperliquid reaching $100 by the end of the year shows a slight decline, suggesting traders are weighing factors beyond the July volume figures.
Source: Crypto Briefing
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