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Hyperliquid Leads Perpetual DEX Market With $14.53B Daily Trading Volume

DefiLlama data shows Hyperliquid’s trading volume jumped 57% to its highest level since November, reinforcing its dominance among perpetual decentralized exchanges.

HYPE

Summary

On January 30, DefiLlama reported that Hyperliquid’s 24-hour trading volume surged 57% to $14.53 billion, the highest since November 5, securing the top position among perpetual decentralized exchanges. The platform recorded a total value locked (TVL) of $4.52 billion and an open interest of $8.50 billion. Other perpetual DEX platforms also posted substantial volumes, highlighting increased activity and competition in the market.

Terms & Concepts
  • Perpetual futures: A type of derivative contract with no expiration date, allowing continuous trading of an asset with leveraged positions.
  • TVL (Total Value Locked): The total value of assets deposited into a decentralized finance protocol, used to measure its size and usage.
  • Open interest: The total number of outstanding derivative contracts, such as futures, that have not yet been settled.