According to CoinMeta, a16z crypto indicates that in August 2026, the trading volume of perpetual contracts reached 117.3 billion US dollars, with an open interest of 4.8 billion US dollars. Of this, the on-chain trading volume was approximately 101 billion US dollars, accounting for 86%, while the trading volume on centralized exchanges was about 16 billion US dollars. Stocks accounted for 48% of the total trading volume, with commodities and indices accounting for 28% and 18% respectively. After Hyperliquid launched hip-3 in October 2025, developers were able to deploy their own perpetual contract markets based on Hypercore.