Even with its reported $1.23B daily volume, Hyperliquid can’t match Binance’s scale, possibly due to inflated figures from unblocked VPN trading, while blocking airdrop claims.
Traders, especially those handling high volumes, prioritize deep order books, tight spreads, and flawless execution—areas where DEXs still fall short.
Metrics tell the story:
• DEX futures volume dropped to 3.26% in September 2024, down from its peak of 5.18% in February. • Binance alone processed $480B of Bitcoin futures in a $1.4T monthly market, highlighting CEX dominance. • Hyperliquid captured $1.23B of the $2.8B daily DEX volume but remains far behind leading CEXs.
@aevoxyz @HyperliquidX @Backpack @SynFuturesDefi @grvt_io @ZetaMarkets @Aark_Digital and recently @ArkhamIntel announced that they will be building their new perp DEX too.
The gap remains as DEXs have thinner order books and less seamless experiences.
The future, however, hinges on mastering cross-chain futures, refining liquidity models, and delivering user experiences that outshine CEXs.
It’s not a question of if, but when DEXs will truly challenge the status quo.
