Odaily Planet Daily reports, according to DefiLlama data, on-chain perpetual (Perp) trading has declined for five consecutive months since peaking in October 2025, with Perp DEX trading volume dropping to $699 billion in March 2026, a significant decrease from the peak of $1.36 trillion in October 2025. Daily data also shows weakening activity: on April 4, single-day trading volume fell to $8.4 billion—the first time since September 2025 that it dropped below $10 billion—and reached its lowest level since July 2025, reflecting sustained cooling in leveraged trading and speculative demand. Additionally, Perp DEX trading volume remains heavily concentrated among top platforms; over the past 30 days, Hyperliquid recorded approximately $185.5 billion in trading volume, accounting for about 34% of the total volume across the top ten platforms. (Cointelegraph)
Chain-based perpetual contract trading slows: DEX volume drops 50% from peak
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Summary
Chain-based perpetual contract trading volume has dropped sharply since October 2025, with DEX trading volume declining for five consecutive months. In March 2026, Perp DEX trading volume fell to $699 billion, down from a peak of $1.36 trillion. On April 4, daily trading volume dropped to $8.4 billion, the first time it fell below $10 billion since September 2025. Hyperliquid led the market with $185.5 billion in trading volume over the past 30 days, accounting for 34% of the total trading volume across the top ten platforms.
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