💰Jupiter’s perpetual DEX platform shows no sign of relinquishing its iron grip on derivatives dominance.

One of Solana’s largest DeFi protocols, Jupiter’s perpetual DEX is currently the largest onchain derivatives market in the crypto industry. Boasting over $657M in TVL, Jupiter dominates perpetual market share.

According to DeFiLlama data, the Solana-based platform currently accounts for 18.82% of onchain derivatives TVL across the industry. While Jupiter boasts the highest TVL across all perpetual DEXes, its closest rival still witnesses higher trading volumes.

During August, Hyperliquid handled $34.6B in trading volume compared to Jupiter’s $15.1B. It’s worth noting that Hyperliquid’s high volume could attributed to its points program, which is expected to influence token allocations ahead of the protocol’s upcoming airdrop.

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