Hyperliquid Perpetual Futures DEX Volume Falls 43% to About $2.82 Billion

Weekend activity weakened across mainstream perp DEXs, while Hyperliquid’s open interest stayed elevated at about $6.92 billion and several rivals trailed in 24-hour trading volume.

HYPE

32d ago

Summary

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Terms & Concepts

Perp DEX: A decentralized exchange for perpetual futures (crypto derivatives without expiry), letting users trade on-chain without a centralized intermediary.
Open interest: The total value of active derivative positions that remain open, often used to gauge market participation and leverage.
Perpetual futures: Derivative contracts without a settlement date, commonly used in crypto markets for leveraged long or short exposure.