The cumulative trading volume of on-chain perpetual contracts has exceeded $15 trillion, with Hyperliquid leading in market share.
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According to CryptoRank data, the cumulative on-chain perpetual contract trading volume has exceeded 1.5 trillion USD. From 2024 to 2025, trading volume increased by 200%, with Hyperliquid and other perpetual DEXs driving the expansion of the on-chain perpetual contract market. Since January 2026, Hyperliquid has accounted for 30% of total trading volume.
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