According to The Block data, the share of decentralized exchanges (DEXs) in futures trading volume relative to centralized exchanges (CEXs) fell to 3.26% in September from a peak of 5.18% in February. The metric represents the ratio of futures trading volumes occurring on the DEX to futures trading volumes occurring on the CEX, indicating that users appear to be gradually moving towards centralized platforms. The data shows that Hyperliquid has become one of the largest DEX perpetual swaps platforms with a market share of nearly 50%.