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DefiLlama: Perpetual Futures DEX Volumes Cool, Hyperliquid Leads with $7.34B 24h

Perp DEX volumes have decreased while open interest remains stable, with Hyperliquid at the forefront with $7.34B in volume and $5.78B open interest, followed by EdgeX, Aster, and others.

HYPE

Summary

According to DefiLlama, major Perp DEX trading volumes saw a decline, with 24-hour volumes dropping but open interest holding steady. Hyperliquid led the pack with $7.34B in volume and $5.78B in open interest, followed by EdgeX, Aster, Lighter, Grvt, and Pacifica.

Terms & Concepts
  • Perpetual futures: Derivative contracts without expiry that enable leveraged long/short exposure to crypto prices.
  • DEX (Decentralized Exchange): A non-custodial marketplace where users trade crypto peer-to-peer via smart contracts (self-executing blockchain code).
  • Open Interest (OI): Total value of outstanding derivative positions that remain unclosed, indicating market participation.