Cryptocurrency Trading Volume Drops 63%, HLP Returns Near Zero

On August 7, the trading volume of Perp DEX significantly declined, with a week-on-week decrease of approximately 13.7%. The current trading volume over the past 30 days is about $49.82 billion, down 63.4% from the peak in October last year. The decline in cryptocurrency perpetual contracts is particularly evident, with Hyperliquid's average daily trading volume dropping from $5.988 billion in June to $3.058 billion, and Lighter falling from $1.666 billion to $1.111 billion, representing declines of 49.1% and 33.3%, respectively. The average daily trading volumes of GRVT and dYdX also decreased by approximately 59.1% and 43.2%, respectively. The scale of Hyperliquid HLP decreased by 21.8% to about $215 million, with a yield of only about 0.018%, nearly reaching zero. Despite the contraction in capital scale, the funds in Hyperliquid Bridge increased from $5.773 billion to $5.940 billion, a growth of 2.9%. The average daily trading volume of Trade.xyz rose from $3.888 billion to $5.134 billion, an increase of 32.1%, offsetting about 42.5% of the decline in Hyperliquid's cryptocurrency contract trading. Traditional assets such as stocks are reshaping the trading structure of Hyperliquid, but this is still insufficient to reverse the overall downturn in the Perp DEX industry.

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