According to a report titled "State of Crypto Perpetuals: 2024" recently released by CoinGecko, as of 2024, the annual total trading volume of the top ten centralized perpetual contract exchanges reached $58.5 trillion, doubling from 2023. The total volume of decentralized perpetual exchanges reached $1.5 trillion, with Hyperliquid occupying over 55% market share in Q4. Bitcoin accounted for about 45% of the open contracts on centralized platforms throughout the year and starting from November 2024, the total amount of open contracts broke through $100 billion for the first time, mainly boosted by market sentiment after Trump's election victory. The trading volume of Solana-related contracts surged multiple times within the year and was closely related to meme coin craze and celebrity token launch timings.