According to monitoring by Karthik Subramanian, Hyperliquid's perpetual contract trading volume reached 6.63% of the total perpetual contract trading volume on global centralized exchanges (CEX) in May, setting a new record. Meanwhile, the platform's trading volume reached 14.4% of Binance's. Data shows that developer-deployed markets supported by the HIP-3 framework (a framework for deploying new perpetual contract markets on the platform) generated over $62 billion in monthly trading volume in May. Currently, global perpetual contract activity remains dominated by centralized exchanges such as Binance, OKX, Bybit, and Bitget, with Binance maintaining its leading position in this sector. (financefeeds)