Onchain perpetual decentralized exchanges now handle 8% of total crypto volume, up from 2.9% two years ago, eroding spot market dominance.
Perpetual decentralized exchanges (Perp DEXs) now account for 8.0% of total cryptocurrency trading volume, up from 2.9% in April 2024. The shift reflects a broader trend of traders migrating from spot markets to onchain perpetual contracts.
Spot trading’s share fell to 14.7% from 19.7% over the same period, while futures volume remained stable at around 77%. The data suggests growing preference for decentralized derivatives platforms amid evolving market dynamics.
No immediate price reaction was reported, though the trend highlights structural changes in crypto trading behavior.