分散的永久性飙升：音量击中历史最高的，将CEXS留在灰尘中？

分散的永久期货正在蓬勃发展！ 7月看到了由超流动性领导的创纪录交易量。这种防御激增可以挑战集中交流吗？

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

分散的永久性飙升：音量击中历史最高的，将CEXS留在灰尘中？

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?

分散的永久期货在流泪！ 7月标志着新历史上的交易量高，标志着加密货币景观发生了重大变化。但是，这种势头能否真正挑战集中交流的主导地位？

Decentralized Perpetuals: A July to Remember

分散的永久性：七月要记住

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!

根据Artemis的说法，分散的永久协议绝对在7月粉碎了它，处理了惊人的3990亿美元的交易量。这比6月份已经令人印象深刻的3110亿美元增长了28％。谈论增长突飞猛进！

Hyperliquid Leads the Charge

超流动导致电荷

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.

一个名字不断弹出：超流动。该协议占OnChain永久体积的近80％。还不错，对吧？其他球员等球员也有贡献，但是超流量是清晰的领先者。他们的代币一代活动（TGE）在2024年11月确实使事情变得高昂，使他们的每月数量从约25至350亿美元增加到160-150亿美元。

DeFi vs. CeFi: The Battle Rages On

Defi与CEFI：战斗爆发

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.

尽管超流动性的成功是Defi的重大胜利，但我们不要超越自己。当涉及整体永久市场量时，主要的集中交易所（CEX）仍然统治着栖息地。例如，Binance每天处理300亿美元至2000亿美元。那是一个完全不同的球场。

US Brokers Jump into the Game

美国经纪人跳入游戏

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?

这是事情变得有趣的地方。总部位于美国的经纪人和交流（例如Coinbase and Robinhood）开始提供自己的永久产品。 Coinbase于7月推出了第一个由美国监管的永久平台，Robinhood计划于2025年向欧洲客户提供永久衍生产品。这是美国加密衍生品的新时代的开始吗？

BlockDAG's Presale Success

Blockdag的预售成功

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.

说到势头，Blockdag正在用预售浪潮。他们的Win-10-BTC活动和0.0016美元的入场报价引起了严重的嗡嗡声，帮助他们筹集了超过3.61亿美元。虽然与永久性没有直接关系，但它突出了加密货币空间中的整体看涨情绪。

Zebec Network Approaches All-Time Highs

Zebec网络接近历史最高点

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.

同样值得注意的是，Zebec Network的本地代币ZBCN正在接近其历史最高水平。这与积极的技术指标和基本发展相结合，提出了进一步增长的潜力。看到项目取得进步并推动界限总是很高兴。

The Future of Perpetual Futures

永久未来的未来

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.

那么，这意味着什么？分散的永久性肯定会引起人们的关注，但是他们还有很长的路要走要赶上大男孩（CEXS）。美国经纪人的进入可能是改变游戏规则的人，但是监管障碍和采用率仍然是关键因素。这是一个令人兴奋的观看空间，如果我们在接下来的几个月中看到更多的创新和增长，我不会感到惊讶。

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：加密市场永远不会入睡！睁大眼睛，对你的智慧。谁知道明天会带来什么？也许分散的永久性将完全接管，或者CEXS会适应和创新。无论哪种方式，这都是疯狂的旅程！