Hyperliquid Leads Perp DEX Market With $9.63 Billion Daily Volume

DefiLlama reports a 37% week-over-week increase in Hyperliquid’s 24-hour trading volume to $9.63B, while open interest remains stable. Other Perp DEX platforms show little change.

HYPE

Summary

DefiLlama reported a 37% week-over-week rise in Hyperliquid’s 24-hour trading volume, reaching $9.63 billion on March 4. Despite this increase, open interest remained unchanged. Volumes on other decentralized perpetual exchange platforms, such as Aster ($2.71B) and Lighter ($2.35B), were relatively stable or slightly lower.

Terms & Concepts
  • Perp DEX: A decentralized exchange for perpetual futures, enabling on-chain leveraged trading without contract expiry.
  • Open interest: The total value of outstanding derivative contracts that have not been settled or closed.
  • DefiLlama: A crypto analytics aggregator tracking volumes, TVL, and metrics across DeFi protocols and chains.