Decentralized exchanges (DEX) reached $1 trillion successful monthly trading measurement for the archetypal clip successful July.
According to DefiLlama data, spot trading measurement grew 29.4% and reached astir $514 cardinal past month, bested lone by January’s all-time precocious of $568 billion.
At the aforesaid time, perpetual futures’ monthly measurement accrued 33.6% to registry a caller all-time precocious of $487 billion, with Hyperliquid registering a caller grounds successful monthly perpetual trading.
BNB dominance connected spot
For the 3rd consecutive month, BNB Chain dominated spot trading volumes. The chain’s volumes grew 15.3% and totaled $196.3 cardinal successful July, representing 38.2% the monthly total.
PancakeSwap was the main operator down growth, which amounted to $188.2 cardinal successful spot trading volume. The BNB-native speech measurement is larger than the different 4 apical DEXs combined, which is astir $168 billion.
Uniswap registered the second-largest spot measurement among DEXs successful July, with $96.4 billion. Meanwhile, Solana-based decentralized exchanges wrapped up the apical five.
Raydium, Meteora, and Orca registered $31.8 billion, $20 billion, and $19.5 billion, respectively. The 5 largest blockchains by measurement remained the aforesaid betwixt June and July, with conscionable 1 flimsy change.
Runner-ups
Ethereum registered the second-largest monthly measurement astatine astir $86 billion, increasing 49.3% from June, portion Solana slid from 2nd to 3rd spot successful monthly spot trading measurement contempt increasing 36.6% to scope $85.1 billion.
Base and Arbitrum maintained their posts from June arsenic the fourth- and fifth-largest blockchains by spot trading volume, respectively.
Base’s measurement accrued by 46.8% and reached $41.6 billion, the archetypal clip the layer-2 blockchain surpassed $40 cardinal since January. At the aforesaid time, Arbitrum was the lone concatenation successful the apical 5 with one-digit growth, reaching $19.2 cardinal successful measurement aft jumping 7.4%.
Hyperliquid’s perpetuals reign
Hyperliquid became the archetypal blockchain to surpass the $300 cardinal threshold successful perpetual volume, reaching $323.4 cardinal successful July aft a 48.3% growth.
The measurement surpasses Ethereum’s $48.7 cardinal by a ample margin, which held the spot of the second-largest concatenation successful perpetual trading measurement past month. Despite the difference, Ethereum has grown by astir 56% since June.
The quality is adjacent larger erstwhile decentralized exchanges for perpetual’s volumes are considered. Hyperliquid reached $313.4 billion, dominating 64.3% of the marketplace and posting 16 times Jupiter’s measurement of $19.4 billion.
Solana, BNB Chain, and Arbitrum wrapper up the apical 5 successful perpetuals with $37.2 billion, $21.6 billion, and $19 cardinal successful volumes, respectively.
The station DEX trading measurement tops $1T for the archetypal clip successful July, Hyperliquid leads grounds perp surge appeared archetypal connected CryptoSlate.