In-Depth Analysis of Major Perp DEXs: Trading Volumes Surge with Hyperliquid Leading the Pack

Market Trend Analysis

On January 21, data from DefiLlama showed that 24-hour trading volumes across major Perp DEX platforms generally increased, while open interest slightly declined. Hyperliquid led the pack with a trading volume of $8.97 billion.

Detailed Platform Data

• Hyperliquid recorded $8.97 billion in trading volume, $4.51 billion in TVL, and $8.18 billion in open interest
• Aster reported $6.1 billion in trading volume, $1.23 billion in TVL, and $2.46 billion in open interest
• Lighter saw $4.92 billion in trading volume, $1.06 billion in TVL, and $1.22 billion in open interest
• EdgeX had $4.59 billion in trading volume, $422 million in TVL, and $1.06 billion in open interest
• Paradex recorded $1.76 billion in trading volume, $221 million in TVL, and $628 million in open interest
• Pacifica reported $832 million in trading volume, $46.21 million in TVL, and $78.8 million in open interest