The decentralized exchange saw perpetual futures volume surge to 6.63% of global CEX total, driven by its HIP-3 framework.
Hyperliquid’s share of global centralized exchange perpetual futures volume reached a record 6.63% in May, up from prior months. The platform also accounted for 14.4% of Binance’s perps volume, marking a new high.
The growth was fueled by Hyperliquid’s HIP-3 framework, which generated $62 billion in May volume and $3 billion in open interest. Despite this, the exchange’s pure crypto perpetuals volume declined year-over-year amid broader market weakness.
The report did not detail immediate market reactions to the volume surge.