Trends in Perp DEXs: Hyperliquid Dominates, Aster Rises as Key Player
On January 13, data from DefiLlama revealed a rebound in trading activity across decentralized perpetual exchange (Perp DEX) platforms after the weekend. Hyperliquid stood out with a 24-hour trading volume of $7.07 billion, maintaining its leadership in the sector.
Meanwhile, Aster has shown impressive momentum, reaching $5.52 billion in daily trading volume. Analysts suggest this growth may be linked to recent platform enhancements or improved user incentives, positioning Aster as a rising competitor.
Why Lighter's Volume Has Dropped
On the other hand, Lighter experienced a noticeable decline in trading volume, falling to $4.2 billion. Market observers attribute this to the ongoing drop in the platform’s native token price, which appears to have affected user confidence and liquidity levels.
Performance of Other Leading Perp DEXs
Other notable Perp DEXs also reported strong figures:
- EdgeX: $3.44 billion in 24-hour trading volume, $389 million TVL, and $1.13 billion open interest;
- Grvt: $1.78 billion in 24-hour trading volume, $78.76 million TVL, and $398 million open interest;
- Variational: $1.5 billion in 24-hour trading volume, $66.18 million TVL, and $1.18 billion open interest;
- Pacifica: $908 million in 24-hour trading volume, $45.89 million TVL, and $85.04 million open interest.
Overall, the Perp DEX space remains highly dynamic, with growing competition among platforms to attract traders and liquidity providers.