Hyperliquid Leads Perpetual DEX Volumes at $6.23B in 24 Hours

DefiLlama data shows a 30% decline in Hyperliquid’s 24-hour trading volume, though it remains at the top, followed by Aster and other platforms with notable drops.

HYPE

Summary

DefiLlama reports a 30% drop in Hyperliquid’s 24-hour trading volume to $6.23 billion, still leading the perpetual DEX market. Aster ranks second with $4.06 billion in volume. Other platforms like Lighter, EdgeX, and Grvt also saw significant declines in trading activity over the past 24 hours.

Terms & Concepts
  • Perpetual DEX: A decentralized exchange that enables perpetual futures trading (contracts without expiry) directly on blockchain-based platforms.
  • TVL (Total Value Locked): The total dollar value of cryptocurrency assets deposited in a DeFi protocol.
  • Open Interest (OI): The total value of outstanding derivative contracts that have not yet been settled.