The cumulative trading volume of DEX futures contracts in 2024 reached 285 billion US dollars, and Hyperliquid accounted for 78.8%

In December, DEX futures contract volume as a percentage of CEX volume hit an all-time high of 10.17%, a recent all-time high. This growth can be attributed to the increased adoption of platforms such as Hyperliquid, Jupiter, ApeX, Satori Finance, and Drift, which have been growing in recent months. Throughout 2024, the total volume of these DEXs grew by an average of 26.5% per month. By December, the cumulative volume reached $285 billion. Hyperliquid emerged as the dominant player, accounting for 78.8% of total DEX volume and a monthly volume of over $225 million in December. Following closely behind Hyperliquid is Jupiter, which has a 9.8% market share and a volume of over $28 million in December. Other contributors include ApeX, Satori Finance, and Drift, accounting for 6.2%, 3.6%, and 1.6% of the volume, respectively. While the cumulative volume of these DEXs hit monthly highs in December, the same cannot be said for CEXs. In December, the total volume of Bitcoin and Ethereum futures on CEXs failed to exceed the previous month's high. In December, Bitcoin futures trading volume on CEXs fell 17% from November, while Ethereum futures trading volume on CEXs was roughly the same as November. Despite the decline, the absolute numbers are still much higher than DEXs. In December, Bitcoin futures trading volume on CEXs exceeded $2.14 trillion, while Ethereum futures trading volume was $1.28 trillion, indicating that centralized platforms continue to dominate in terms of scale. (The Block)