分散的永久性飆升：音量擊中歷史最高的，將CEXS留在灰塵中？

分散的永久期貨正在蓬勃發展！ 7月看到了由超流動性領導的創紀錄交易量。這種防禦激增可以挑戰集中交流嗎？

Decentralized Perpetuals Soar: Volume Hits All-Time High, Leaving CEXs in the Dust?

分散的永久性飆升：音量擊中歷史最高的，將CEXS留在灰塵中？

Decentralized perpetual futures are on a tear! July marked a new all-time high in trading volume, signaling a significant shift in the crypto landscape. But can this momentum truly challenge the dominance of centralized exchanges?

分散的永久期貨在流淚！ 7月標誌著新歷史上的交易量高，標誌著加密貨幣景觀發生了重大變化。但是，這種勢頭能否真正挑戰集中交流的主導地位？

Decentralized Perpetuals: A July to Remember

分散的永久性：七月要記住

According to Artemis, decentralized perpetual protocols absolutely crushed it in July, processing a staggering $399 billion in trading volume. That's a 28% jump over June's already impressive $311 billion. Talk about a growth spurt!

根據Artemis的說法，分散的永久協議絕對在7月粉碎了它，處理了驚人的3990億美元的交易量。這比6月份已經令人印象深刻的3110億美元增長了28％。談論增長突飛猛進！

Hyperliquid Leads the Charge

超流動導致電荷

One name keeps popping up: Hyperliquid. This protocol accounts for nearly 80% of the onchain perpetuals volume. Not bad, right? Other players like ApeX, Drift, and dYdX are also contributing, but Hyperliquid is the clear frontrunner. Their token generation event (TGE) in November 2024 really kicked things into high gear, boosting their monthly volume from around $25-$35 billion to a whopping $160-$315 billion.

一個名字不斷彈出：超流動。該協議佔OnChain永久體積的近80％。還不錯，對吧？其他球員等球員也有貢獻，但是超流量是清晰的領先者。他們的代幣一代活動（TGE）在2024年11月確實使事情變得高昂，使他們的每月數量從約25至350億美元增加到160-150億美元。

DeFi vs. CeFi: The Battle Rages On

Defi與CEFI：戰鬥爆發

While Hyperliquid's success is a major win for DeFi, let's not get ahead of ourselves. Major centralized exchanges (CEXs) still rule the roost when it comes to overall perpetuals market volume. Binance, for example, processes a daily volume of $30 billion to $200 billion. That's a whole different ballpark.

儘管超流動性的成功是Defi的重大勝利，但我們不要超越自己。當涉及整體永久市場量時，主要的集中交易所（CEX）仍然統治著棲息地。例如，Binance每天處理300億美元至2000億美元。那是一個完全不同的球場。

US Brokers Jump into the Game

美國經紀人跳入遊戲

Here's where things get interesting. U.S.-based brokers and exchanges, like Coinbase and Robinhood, are starting to offer their own perpetual offerings. Coinbase launched the first U.S.-regulated perpetuals platform in July, and Robinhood plans to offer perpetual derivatives to European customers in 2025. Is this the beginning of a new era for crypto derivatives in the US?

這是事情變得有趣的地方。總部位於美國的經紀人和交流（例如Coinbase and Robinhood）開始提供自己的永久產品。 Coinbase於7月推出了第一個由美國監管的永久平台，Robinhood計劃於2025年向歐洲客戶提供永久衍生產品。這是美國加密衍生品的新時代的開始嗎？

BlockDAG's Presale Success

Blockdag的預售成功

Speaking of momentum, BlockDAG is making waves with its presale. Their WIN-10-BTC campaign and $0.0016 entry offer have generated serious buzz, helping them raise over $361 million. While not directly related to perpetuals, it highlights the overall bullish sentiment in the crypto space.

說到勢頭，Blockdag正在用預售浪潮。他們的Win-10-BTC活動和0.0016美元的入場報價引起了嚴重的嗡嗡聲，幫助他們籌集了超過3.61億美元。雖然與永久性沒有直接關係，但它突出了加密貨幣空間中的整體看漲情緒。

Zebec Network Approaches All-Time Highs

Zebec網絡接近歷史最高點

Also worth noting, Zebec Network's native token, ZBCN, is trading close to its all-time high. This, combined with positive technical indicators and fundamental developments, suggests potential for further growth. It's always good to see projects making progress and pushing boundaries.

同樣值得注意的是，Zebec Network的本地代幣ZBCN正在接近其歷史最高水平。這與積極的技術指標和基本發展相結合，提出了進一步增長的潛力。看到項目取得進步並推動界限總是很高興。

The Future of Perpetual Futures

永久未來的未來

So, what does all this mean? Decentralized perpetuals are definitely gaining traction, but they still have a long way to go to catch up with the big boys (CEXs). The entry of U.S. brokers could be a game-changer, but regulatory hurdles and adoption rates remain key factors. It's an exciting space to watch, and I wouldn't be surprised if we see even more innovation and growth in the coming months.

那麼，這意味著什麼？分散的永久性肯定會引起人們的關注，但是他們還有很長的路要走要趕上大男孩（CEXS）。美國經紀人的進入可能是改變遊戲規則的人，但是監管障礙和採用率仍然是關鍵因素。這是一個令人興奮的觀看空間，如果我們在接下來的幾個月中看到更多的創新和增長，我不會感到驚訝。

One thing's for sure: the crypto market never sleeps! Keep your eyes peeled and your wits about you. Who knows what tomorrow will bring? Maybe decentralized perpetuals will completely take over, or maybe CEXs will adapt and innovate. Either way, it's going to be a wild ride!

可以肯定的是：加密市場永遠不會入睡！睜大眼睛，對你的智慧。誰知道明天會帶來什麼？也許分散的永久性將完全接管，或者CEXS會適應和創新。無論哪種方式，這都是瘋狂的旅程！