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Hyperliquid Tops Perp DEXs with $2.79B 24h Volume, $4.59B TVL

DefiLlama's data reveals Hyperliquid leading in 24-hour trading volume and total value locked, while lighter follows in the rankings amidst low weekend trading activity.

HYPE

Summary

DefiLlama's Jan. 19 data shows Hyperliquid leading perpetual DEXs with $2.79B in 24-hour trading volume, $4.59B in total value locked (TVL), and $9.63B in open interest. Lighter followed with $2.26B in volume, $1.08B in TVL, and $1.32B in open interest, as other platforms saw minor changes amid lower weekend trading activity.

Terms & Concepts
  • Perp DEX: A decentralized exchange focused on perpetual contracts, which are derivative products with no expiration date.
  • 24h Volume: The total trading volume on a platform within a 24-hour period, often used to assess market activity.
  • TVL (Total Value Locked): The total value of assets locked in a DeFi platform, indicating the platform's liquidity and popularity.