Perpetual decentralized exchanges (Perp DEX) have experienced a decline in monthly trading volumes for the sixth consecutive month, according to CryptoRank data. In April 2026, the total trading volume fell to $518 billion, marking a 3% decrease from March's $536 billion. This represents a significant drop from the peak of $1.2 trillion recorded in October 2025. Among the platforms, Hyperliquid led with a monthly trading volume of $186 billion, while emerging Perp DEXs like Lighter, edgeX, and Aster also maintained high activity levels.
Perp DEX Monthly Trading Volume Declines for Sixth Consecutive Month
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