Bitcoin News Today: Hyperliquid Hits $320 Billion in July Volume, Up 47% From June

Hyperliquid, a leading decentralized exchange (DEX) in the perpetual futures market, posted a record trading volume of nearly $320 billion in July 2025, reflecting a 47% increase from its June volume of $216 billion [2]. This milestone marked a 28% jump from the platform’s previous high of $248 billion in May, further solidifying its position as a key player in the decentralized trading space [2]. The surge in activity was primarily driven by substantial trading volumes in major assets such as Ethereum (ETH) and Bitcoin (BTC), which significantly contributed to the platform’s overall performance [1].

The growth in trading volume translated into an expanded market share for Hyperliquid, as it maintained more than 75% of the decentralized perpetual contracts sector in July [2]. The platform’s volume accounted for 11.89% of Binance’s perpetual futures trading during the same period, with Binance reporting approximately $2.59 trillion in volume [2]. This ratio marked a record high for Hyperliquid, signaling a notable shift in user behavior toward decentralized alternatives amid growing confidence in DEX infrastructure.

Hyperliquid’s performance was not an isolated event, as the broader DeFi ecosystem also experienced robust growth. Other decentralized platforms, such as Drift, reported a 336% surge in trading volume during July, reaching over $14.8 billion [2]. This trend reflects a larger movement toward decentralized infrastructure, motivated by the advantages of enhanced security, transparency, and user control. The data suggests that decentralized solutions are not only competing with but increasingly challenging traditional centralized exchanges.

Despite the platform’s success, the HYPE token experienced a 17% price decline during the same period [1]. The drop highlights the inherent volatility of crypto markets and underscores that trading volume growth does not always translate directly into token price appreciation. Additionally, Hyperliquid has not disclosed any new funding or capital allocation in response to the volume surge, indicating a strategic focus on operational efficiency over expansion financing [1].

Hyperliquid operates without publicly named leadership figures and communicates primarily through GitHub and Twitter [1]. On-chain metrics such as total value locked (TVL) and open interest have shown consistent growth, with ETH and BTC remaining the most actively traded assets. The platform’s ability to offer competitive gas costs and innovative perpetual futures contracts has contributed to the shifting trading activity in favor of its ecosystem.

The record trading volume has also created competitive pressure for other platforms, including Binance and Drift, but has not triggered significant regulatory filings or an influx of new capital [1]. This suggests that while market dynamics are shifting, the broader ecosystem remains relatively stable despite the substantial growth in decentralized trading.

Source: [1] Hyperliquid Surpasses $320 Billion in July Trading Volume (https://www.ainvest.com/news/hyperliquid-surpasses-320-billion-july-trading-volume-47-june-2508/)

[2] Hyperliquid's July trading volume hits record high, nearing ... (https://followin.io/en/feed/19139439)

[3] Hyperliquid Hits New All-Time High in Monthly Trading ... (https://cryptorank.io/news/feed/f0c48-hyperliquid-hits-new-all-time-high-in-monthly-trading-volume)