On-chain futures trading platforms reached an all-time high in October, surpassing $1 trillion in total trading volume. The rapid increase in the volume, which was 739 billion dollars in September, revealed how strong the participation in decentralized derivative markets has become. DefiLlama According to the data, the recorded figure indicates the most active period in the history of intra-Blockchain futures transactions.
The October 10-11 Shock That Set the Record
The most decisive factor in breaking the record was the market crash on October 10-11. That day is big cryptocurrencyWith the sharp decline in currencies, a total of 20 billion dollars of positions in central and decentralized exchanges were forced to be liquidated. This sudden volatility in the market caused futures trading volume to explode. Hyperliquid has single-handedly liquidated 1,000 wallets as the leading platform featured in the on-blockchain futures market. 205 of these wallets lost over $1 million each.
On the day of the crash in question, a new record was broken with a single-day transaction volume of $78 billion on decentralized futures platforms. This volume showed that market participants are turning to in-Blockchain solutions even during periods of high volatility, and trust is increasingly moving away from centralized systems.
The Rise of Decentralized Derivatives Platforms
The increase in transaction volume in recent months has rapidly increased investors’ interest in permission-free, transparent and high-leverage platforms. The open liquidity structure offered by on-blockchain derivative platforms has given investors the freedom to trade despite market turmoil. Regulatory pressures and liquidity restrictions on centralized exchanges accelerated investors’ turn to freer alternatives.
The increase in defiLlama data shows that on-blockchain futures are no longer just a niche area, but have reached maturity to compete with traditional derivatives markets. Now decentralized platforms have come close to centralized exchanges in terms of speed, security and volume.
