The cumulative trading volume of on-chain perpetual contracts has surpassed $15 trillion, according to data from CryptoRank. This milestone reflects significant growth, particularly between 2024 and 2025, when the market expanded by 200%. The surge was largely driven by the development of platforms like Hyperliquid and other decentralized exchanges (DEXs) specializing in perpetual contracts.
Since January 2026, Hyperliquid has maintained a dominant position in the market, contributing to 30% of the total trading volume. The rapid expansion of the on-chain perpetual contracts market underscores the increasing adoption and innovation within the decentralized finance sector.
On-Chain Perpetual Contracts Trading Volume Exceeds $15 Trillion
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