In-Depth Look at Leading Perpetual DEXs: Hyperliquid Trading Volume Surges to $9.86 Billion

Perpetual DEX Market Shows Strong Recovery

According to the latest data from DefiLlama, January 22 witnessed a significant upturn in trading activity across leading perpetual contract DEX platforms. Hyperliquid emerged as market leader with trading volume reaching $9.86 billion in the past 24 hours.

Current market dynamics reveal the following key statistics:

• Hyperliquid: $9.86 billion 24-hour trading volume, $4.49 billion total value locked (TVL), $8.44 billion open interest
• Aster: $6.22 billion 24-hour trading volume, $1.23 billion TVL, $2.52 billion open interest
• Lighter: $5.06 billion 24-hour trading volume, $1.05 billion TVL, $1.27 billion open interest
• EdgeX: $4.76 billion 24-hour trading volume, $422 million TVL, $1.09 billion open interest
• Grvt: $1.95 billion 24-hour trading volume, $95.36 million TVL, $507 million open interest
• Pacifica: $837 million 24-hour trading volume, $45.89 million TVL, $77.7 million open interest

Market analysis indicates increasing concentration with dominant platforms strengthening their positions while smaller exchanges face growing challenges in market share retention.