Centralized perpetual exchanges hit $58.5 trillion in 2024 trading volume, doubling 2023’s figures. Hyperliquid dominated decentralized perpetuals with over 55% market share in Q4. Bitcoin led open interest at 45%, while Solana saw a significant volume spike in 2024. The crypto perpetual futures market went into overdrive in 2024, moving past previous trading figures. The latest report from market tracker CoinGecko shows that the top 10 exchanges recorded $58.5 trillion in trading volume, more than double the $28 trillion recorded in 2023. This makes 2024 the most active year ever for perpetuals trading, driven by a massive surge in Q4, with volume jumping +79.6% from $11.8 trillion in Q3 to $21.2 trillion. CEXs: Binance Still Leads, But Loses Ground Despite the impressive volume, Binance—long the market leader—has seen its dominance wane. The exchange’s market share dropped from 43% in January to 34% by December. However, Binance continues to lead the sector by a wide margin. Related: Binance Crackdown: Bans Market Maker & Compensates Users in $GPS, $SHELL Case Meanwhile, a notable development in the centralized exchange market was Coinbase… The post dYdX’s Loss is Hyperliquid’s Gain: DEX Market Share Shifts appeared first on Coin Edition .