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#perp-dex

Bar chart of Q1 2026 crypto derivatives volumes with Binance leading and Hyperliquid in top 10
Crypto & Blockchain

Binance's $4.9T Derivatives Haul Masks a DEX Awakening in Q1 2026

Binance processed $4.9 trillion in derivatives last quarter—35% of the top pack. Yet Hyperliquid, a perp DEX, just muscled into the top 10, hinting at fractures in the old guard.

4 min read 1 month, 4 weeks ago

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