Back

DefiLlama (crypto data aggregator) Reports 24-Hour Perp DEX (perpetual futures decentralized exchange) Volumes Drop; Hyperliquid at $5.42B

According to DefiLlama, Perp DEX volumes fell sharply in the past day, with Hyperliquid leading at $5.42B volume and a $4.22B TVL, while open interest on most platforms dropped below $1B.

HYPE

Summary

DefiLlama data from Feb. 28 indicates that major perpetual futures decentralized exchanges experienced a decline in 24-hour trading volumes. Hyperliquid led with $5.42 billion in volume and a total value locked of $4.22 billion, followed by Aster at $2.62 billion volume and $1.04 billion TVL. Most platforms’ open interest dropped below $1 billion, highlighting reduced market activity.

Terms & Concepts
  • Perp DEX: Decentralized exchanges offering perpetual futures (no-expiry derivatives) trading.
  • Total Value Locked (TVL): The value of assets deposited in a protocol, used to gauge platform usage and liquidity.
  • Open interest: The total number of outstanding derivative contracts (positions not yet closed) for a market or instrument.