perp DEXs recorded $150b in weekly trading volume, with cumulative volume now reaching $13t. Hyperliquid led with $47b, while the top five platforms combined for $93.3b, or 62% of total volume. perpetual DEXs let users trade leveraged long and short positions without relying on a traditional centralized exchange. the numbers show how onchain derivatives have grown into a major part of crypto trading, with Hyperliquid accounting for nearly a third of weekly volume. but volume alone doesn’t show how much activity is organic or how much capital traders have at risk. the next thing to watch is whether this growth in trading activity translates into sustained liquidity and open interest. #BTC Price Analysis# #Altcoin Season# #HYPE $BTC $HYPE