Perp DEX Volume Jumps 9.1% to $423B as Hyperliquid Leads
Hyperliquid's 58% share and 21% growth show perp-DEX volumes are consolidating fast, with one venue pulling further from the pack each month.
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Hyperliquid's 58% share and 21% growth show perp-DEX volumes are consolidating fast, with one venue pulling further from the pack each month.
The chain beat Solana's $10.6B and Ethereum's $5.8B in weekly DEX flow, but the price still needs to clear the $620 to $646 resistance before any breakout call sticks.
The L2's deposit growth since launch has tracked its initial memecoin buzz, but DAUs and DEX volume are already cooling, raising the open question of whether the activity stick.
The market is sending mixed signals: liquidity on the sidelines is thinning while retail trading rebounds, and corporate treasury buyers have gone nearly silent with just 101.5 BTC added across three…
The volume split shows where the next cycle's on-chain liquidity is actually settling: Solana still leads DEX activity by a wide margin, with the Robinhood chain now a credible runner-up.
The L2 launched barely a week ago and is already routing more on-chain trading than two of Ethereum's most entrenched scaling layers.
CASHCAT alone generated roughly $98M of the $560–570M total, but a Morpho-driven TVL crossing $100M in week one is the more durable signal for the new Layer-2.
Robinhood's L2 booked $433M in perp-driven flows over the past 24 hours, overtaking Hyperliquid's $296M and signalling real traction for the broker-led chain's derivatives venue.
The Wall Street-broker-built L2 has crossed a half-billion-dollar day and is onboarding 140K+ fresh wallets in 24 hours, with memecoin trading driving most of the flow.
MARA, Strategy and Bitmine kept stacking last week even as on-chain trading volumes slid, the kind of divergence that turns a quiet tape into a structural accumulation signal.