上升的DEX：木星和超流动领先

2025年5月，分散的交流（DEX）部门目睹了显着的增长。索拉纳（Solana）上的木星的日常数量增加了166％，达到12.2亿美元

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）部门目睹了显着的增长。索拉纳（Solana）上的木星的日常数量增加了166％，达到12.2亿美元。同时，超级流动性成为去中心化衍生品的主要力量，其开放利息为89亿美元，在DEX期货中，市场份额为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现在已经超过了以太坊和Binance Smart Chain（BSC），DEX每日数量为28亿美元。这是对此动态的深入分析。

Jupiter (JUP): Explosively Growing on Solana

木星（JUP）：在Solana上爆炸性地生长

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

据《无银行时报》报道，索拉纳（Solana）领先的DEX聚合器木星（Jupiter）目睹了其每日数量增长166％，达到12.2亿美元。

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

这种表演使木星成为第二大敏捷，仅次于超级流动。

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，木星每月产生360亿美元的销量，与前几个月相比显示出一致的增长。数量/市值比率表明潜在的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.

限制订单和DCA（美元成本平均）等功能的集成增强了平台对交易者的吸引力。

Key Factors Driving Jupiter’s Growth:

推动木星增长的关键因素：

Hyperliquid (HYPE) : Undisputed DEX Leader

超流动性（炒作）：无可争议的DEX领导者

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.

根据Coinstats的数据，截至2025年5月22日，Hyperliquid在分散的衍生品中脱颖而出，创纪录的开放利息为89亿美元。该平台根据我们的数据占据了70％的永久市场和78.8％的DEX期货市场。

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).

根据Coinshares的数据，Hyperliquid的数量从210亿美元飙升至5700亿美元，增长了25.3倍。 2025年1月，其每月销量达到1980亿美元，超过了木星（360亿美元）和DYDX（190亿美元）。

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

随着累积量接近一万亿美元，超级流动性正在巩固其优势。

Key Indicators of Hyperliquid:

超流动的关键指标：

Expanding DEX Market

扩大DEX市场

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).

根据Coingecko的数据，DEX部门在24小时内显示总数为175亿美元。索拉纳（Solana）在2025年以8068亿美元的价格领先，增长了400％，超过以太坊和理学士（每天28亿美元）。

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

在2025年1月1日之后下降了35％之后，体积趋势上升，标志着新的扩展阶段。

DEX Growth Drivers:

DEX增长驱动因素：

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

总之，木星和超流动性在各自的细分市场中成为领导者。木星受益于索拉纳生态系统，而超流动性主导了衍生物。

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等创新的驱动下，DEXS在2025年重塑了加密货币景观。木星（12.2亿美元的销量）和超流利（89亿美元的开放式利息）提供了诱人的机会。