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Lighter Surpasses Hyperliquid with $9B 24-Hour DEX Trading Volume

DefiLlama data shows Lighter leading Perp DEXs with $8.88B volume despite a 15% drop, while Pacifica and smaller platforms gain traction in a shifting DeFi landscape.

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Summary

DefiLlama reports Lighter as the top Perp DEX by 24-hour trading volume at $8.88 billion, down 15% from previous figures yet still ahead of competitors. Pacifica’s daily volume rose to $591 million, reflecting increased activity on smaller platforms. Total value locked (TVL) leaders include Hyperliquid with $4.34 billion and Aster with $1.42 billion, indicating diverse engagement across the decentralized exchange market.

Terms & Concepts
  • DEX (Decentralized Exchange): A trading platform that operates without a central authority, allowing peer-to-peer cryptocurrency transactions via smart contracts.
  • Decentralized Finance (DeFi): A blockchain-based financial system enabling transactions and services without traditional intermediaries such as banks.
  • TVL (Total Value Locked): The total value of assets deposited in a DeFi protocol, representing user confidence and platform liquidity.