In-Depth Analysis of Leading Perpetual DEXs: Hyperliquid Sees 57% Trading Surge, Hits Record High

Market Trends: Hyperliquid Sees Significant Trading Volume Surge

On January 30, 2024, data from DefiLlama indicated a continued upward trend in trading activity across leading perpetual decentralized exchanges (Perp DEXs). Hyperliquid stood out with a massive 57% increase in 24-hour trading volume, reaching its highest level since early November last year. While its open interest experienced a slight decline, the overall momentum remains strong.

Key Metrics Across Major Platforms

Here’s a detailed look at the performance of major Perp DEXs:

• Hyperliquid: 24-hour trading volume at $14.53 billion, TVL at $4.52 billion, and open interest at $8.5 billion;
• Aster: 24-hour trading volume at $6.44 billion, TVL at $1.18 billion, and open interest at $2.37 billion;
• Lighter: 24-hour trading volume at $4.97 billion, TVL at $982 million, and open interest at $1.3 billion;
• EdgeX: 24-hour trading volume at $4.47 billion, TVL at $232 million, and open interest at $1.02 billion;
• Grvt: 24-hour trading volume at $2.56 billion, TVL at $947.3 million, and open interest at $559 million;
• Paradex: 24-hour trading volume at $2.45 billion, TVL at $221 million, and open interest at $714 million;
• Pacifica: 24-hour trading volume at $959 million, TVL at $42.68 million, and open interest at $71.6 million.

The Perp DEX space continues to expand, with growing participation and heightened investor interest, particularly around platforms like Hyperliquid.