In-Depth Analysis of Leading Perpetual DEXs: Hyperliquid Open Interest Hits 9-Month Low

Market Insights

As of February 10, according to the latest data from DefiLlama, the trading volume on leading Perpetual DEX platforms remains below $4 billion, except for Hyperliquid, which still leads the market. Notably, the open interest on Hyperliquid has dropped below $50 billion, reaching the lowest level in nearly nine months and returning to early May 2023 levels.

Platform Performance Overview

Below is the latest data from key Perp DEX platforms:

• Hyperliquid: $6.64 billion in 24-hour trading volume, $4.19 billion in TVL, and $4.95 billion in open interest;
• Aster: $3.72 billion in 24-hour trading volume, $1.1 billion in TVL, and $1.86 billion in open interest;
• EdgeX: $3.3 billion in 24-hour trading volume, $181 million in TVL, and $1.01 billion in open interest;
• Lighter: $2.24 billion in 24-hour trading volume, $922 million in TVL, and $736 million in open interest;
• Grvt: $1.76 billion in 24-hour trading volume, $909.9 million in TVL, and $404 million in open interest;
• Pacifica: $916 million in 24-hour trading volume, $39.1 million in TVL, and $50 million in open interest.