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Hyperliquid Leads Crypto Market with $12.94B Daily Trading Volume

DefiLlama data shows Hyperliquid maintaining dominance in Perp DEX market activity, with double Aster’s volume and multi-billion open interest on February 5.

HYPE

Summary

On February 5, DefiLlama reported that Hyperliquid’s 24-hour trading volume reached $12.94 billion, about twice Aster’s $5.44 billion. Open interest stood at $5.71 billion. Despite leadership in perpetual DEX volumes, overall activity across major platforms saw slight declines. Total value locked (TVL) was $4.38 billion for Hyperliquid and $1.11 billion for Aster.

Terms & Concepts
  • Open Interest: The total value of outstanding derivative contracts, such as futures or options, that have not been settled.
  • Trading Volume: The total amount of a cryptocurrency traded within a specific time period, often used to measure market activity.
  • DeFiLlama: A blockchain analytics platform that tracks decentralized finance (DeFi) metrics across multiple protocols.