Perpetuals Market Records Notable Monthly Surge, Hyperliquid Leads

The decentralized perpetual futures market is going through massive growth, as the latest market data suggests. In this respect, Hyperliquid, BNB Chain, and Lighter have emerged as leading among the top fifteen blockchains based on the monthly surge in perpetual volume. As per the data from Phoenix Group, the other top blockchains include edgeX, Ethereum, Arbitrum, Grvt, Starknet, Paradex, Solana, Base, GateLayer, Reya, Ink, and dYdX. This increase in the decentralized perpetual sector indicates the swiftly growing adoption.

Hyperliquid Dominates Blockchains in Monthly Perpetual Volume Claiming $179B 

Particularly, Hyperliquid has become the top blockchain when it comes to 30-day perpetual trading volume. Thus, its volume has hit the $179B mark while its TVL stands at $4.6B. Additionally, its active addresses have reached the 247.4K mark. Subsequently, BNB Chain has claimed the 2nd position among the prominent blockchains in terms of 30-day surge in perpetual volume, hitting $157B. Similarly, its TVL has surged to $8.9B while its active addresses are 56.0M.

Following that, the 3rd among the top monthly blockchains based on perpetual volume is Lighter. The blockchain’s perpetual volume has jumped to $131B, and its TVL is $1.1B, with 269.8K active addresses. The next name on the list is “edgeX” as the blockchain has recorded $83.4B in perpetual volume and $416.1M in TVL. Then comes Ethereum, securing $48.4B in monthly perpetual volume and $123.2B in TVL, whereas its active addresses are up to $2.8M.

Moving on, Arbitrum sits in the 6th position, with its perpetual volume reaching $41.2B and TVL securing $3.1B. Grvt comes after it with $38.4B in its perpetual volume and $83.4M in TVL. In addition to this, Starknet is the 8th player on the list, getting $37.2B in perpetual volume and $348.4M in TVL.

dYdX Bottoms List with $8.7B in Perpetual Volume

Phoenix Group’s list of the key blockchains according to monthly perpetual volume includes Paradex in the 9th place with $35.5B. Solana and Base come after with $32.3B and $18.7B. Closely behind, GateLayer, Reya, and Ink stand at $$16.2B, $13.8B, and $13.3B. Concluding the list, dYdX is the 15th top blockchain in line with the 30-day perpetual volume, securing $8.7B.