
Decentralized exchanges surpass $1 trillion monthly volume as volatility spikes
Hyperliquid, Aster and Lighter drove a ~50% MoM surge. Here’s who’s winning and why it matters for CEXs.
The latest in decentralized exchange innovation, liquidity trends, and on-chain trading data.

Listing anything is easy; risk and liquidity are hard, and here’s the model.Hyperliquid’s HIP-3 removes gatekeepers by letting anyone launch perpetuals if they stake $20 million. It’s either DeFi’s boldest safety experiment, or its next stress test.

CZ attributed BNB's recent meme explosion to an unplanned Mid-Autumn Festival post, and outlined his investment thesis favoring privacy-focused perpetual DEXs over transparent alternatives.

The figure represents a 43.6% increase from the $1 trillion registered in the second quarter, and surpasses the previous record of nearly $1.2 trillion set between January and March.

As liquidity migrates on-chain, major exchanges are racing to merge CEX speed with DeFi control.

1inch co-founder Sergej Kunz is transforming DeFi by uniting fragmented liquidity, pioneering seamless cross-chain swaps, and laying the groundwork for a UX to render centralized exchanges obsolete.

Pi Network's testnet update opens new opportunities for structured DeFi education and innovation.



