上升的DEX：木星和超流動領先

2025年5月，分散的交流（DEX）部門目睹了顯著的增長。索拉納（Solana）上的木星的日常數量增加了166％，達到12.2億美元

In May 2025, the decentralized exchanges (DEX) sector is witnessing remarkable growth. Jupiter on Solana has seen its daily volume surge by 166% to reach $1.22 billion. Meanwhile, Hyperliquid is emerging as the dominant force in decentralized derivatives with an open interest of $8.9 billion and a market share of 78.8% in DEX futures.

2025年5月，分散的交易所（DEX）部門目睹了顯著的增長。索拉納（Solana）上的木星的日常數量增加了166％，達到12.2億美元。同時，超級流動性成為去中心化衍生品的主要力量，其開放利息為89億美元，在DEX期貨中，市場份額為78.8％。

Solana has now surpassed Ethereum and Binance Smart Chain (BSC) with a DEX daily volume of $2.8 billion. Here is an in-depth analysis of this dynamic.

Solana現在已經超過了以太坊和Binance Smart Chain（BSC），DEX每日數量為28億美元。這是對此動態的深入分析。

Jupiter (JUP): Explosively Growing on Solana

木星（JUP）：在Solana上爆炸性地生長

Jupiter, the leading DEX aggregator on Solana, witnessed a 166% increase in its daily volume, reaching $1.22 billion, as reported by Bankless Times.

據《無銀行時報》報導，索拉納（Solana）領先的DEX聚合器木星（Jupiter）目睹了其每日數量增長166％，達到12.2億美元。

This performance places Jupiter as the second-largest DEX, right behind Hyperliquid.

這種表演使木星成為第二大敏捷，僅次於超級流動。

In January 2025, Jupiter generated $36 billion in monthly volume, showing consistent growth compared to the previous months. The volume/market capitalization ratio suggests a potential undervaluation of the JUP token.

2025年1月，木星每月產生360億美元的銷量，與前幾個月相比顯示出一致的增長。數量/市值比率表明潛在的jup令牌低估了。

The integration of features such as limit orders and DCA (Dollar-Cost Averaging) enhances the platform’s attractiveness to traders.

限制訂單和DCA（美元成本平均）等功能的集成增強了平台對交易者的吸引力。

Key Factors Driving Jupiter’s Growth:

推動木星增長的關鍵因素：

Hyperliquid (HYPE) : Undisputed DEX Leader

超流動性（炒作）：無可爭議的DEX領導者

Hyperliquid stands out in decentralized derivatives with a record open interest of $8.9 billion as of May 22, 2025, according to CoinStats. The platform holds 70% of the on-chain perpetual market and 78.8% of DEX futures market, based on our data.

根據Coinstats的數據，截至2025年5月22日，Hyperliquid在分散的衍生品中脫穎而出，創紀錄的開放利息為89億美元。該平台根據我們的數據佔據了70％的永久市場和78.8％的DEX期貨市場。

Hyperliquid’s volume has skyrocketed from $21 billion to $570 billion, a growth of 25.3 times, according to CoinShares. In January 2025, its monthly volume reached $198 billion, surpassing Jupiter ($36 billion) and dYdX ($19 billion).

根據Coinshares的數據，Hyperliquid的數量從210億美元飆升至5700億美元，增長了25.3倍。 2025年1月，其每月銷量達到1980億美元，超過了木星（360億美元）和DYDX（190億美元）。

With a cumulative volume approaching a trillion dollars, Hyperliquid is consolidating its dominance.

隨著累積量接近一萬億美元，超級流動性正在鞏固其優勢。

Key Indicators of Hyperliquid:

超流動的關鍵指標：

Expanding DEX Market

擴大DEX市場

The DEX sector shows a total volume of $17.5 billion in 24 hours, according to CoinGecko. Solana leads with $806.8 billion in 2025, a 400% increase, surpassing Ethereum and BSC ($2.8 billion daily volume).

根據Coingecko的數據，DEX部門在24小時內顯示總數為175億美元。索拉納（Solana）在2025年以8068億美元的價格領先，增長了400％，超過以太坊和理學士（每天28億美元）。

After a 35% decline post-January 2025, volumes are trending upwards, signaling a new expansion phase.

在2025年1月1日之後下降了35％之後，體積趨勢上升，標誌著新的擴展階段。

DEX Growth Drivers:

DEX增長驅動因素：

In conclusion, Jupiter and Hyperliquid establish themselves as leaders in their respective segments. Jupiter benefits from the Solana ecosystem, while Hyperliquid dominates derivatives.

總之，木星和超流動性在各自的細分市場中成為領導者。木星受益於索拉納生態系統，而超流動性主導了衍生物。

Driven by Solana and innovations like sharding, DEXs are reshaping the crypto landscape in 2025. Jupiter ($1.22 billion volume) and Hyperliquid ($8.9 billion open interest) offer enticing opportunities.

在Solana和Sharding等創新的驅動下，DEXS在2025年重塑了加密貨幣景觀。木星（12.2億美元的銷量）和超流利（89億美元的開放式利息）提供了誘人的機會。