In-Depth Analysis of Leading Perp DEX Platforms: Trading Volumes Rebound, Hyperliquid Takes the Lead

Market Overview

According to DefiLlama data as of February 24, major Perp DEX platforms have shown a modest recovery in trading volumes. Hyperliquid continues to dominate the market with a 24-hour trading volume of $6.57 billion, maintaining high levels of TVL and open interest.

Platform Performance

Hyperliquid leads the pack with a 24-hour trading volume of $6.57 billion, a TVL of $4.21 billion, and an open interest of $5.26 billion.

Aster follows closely with a 24-hour trading volume of $3.24 billion, a TVL of $1.04 billion, and an open interest of $1.8 billion.

EdgeX reports a 24-hour trading volume of $2.9 billion, a TVL of $183 million, and an open interest of $975 million.

Lighter has a 24-hour trading volume of $2.83 billion, a TVL of $892 million, and an open interest of $829 million.

Variational's 24-hour trading volume stands at $1.26 billion, with a TVL of $661.8 million and an open interest of $615 million.

Pacifica has the lowest 24-hour trading volume at $468 million, a TVL of $36.45 million, and an open interest of $56.59 million.