Market Overview: Hyperliquid Dominates Perp DEX Trading Volumes
According to the latest data from DefiLlama on January 19, decentralized perpetual exchanges (Perp DEXs) maintained steady performance over the weekend. Despite the slower market pace, several platforms recorded significant trading volumes.
Hyperliquid continued to lead the market with a 24-hour trading volume of approximately $2.79 billion. Its total value locked (TVL) reached $4.59 billion, while open interest soared to $9.63 billion, highlighting its strong liquidity and market depth.
Other Platforms Show Steady Growth
- Lighter followed closely with a 24-hour trading volume of $2.26 billion, $1.08 billion in TVL, and $1.32 billion in open interest;
- EdgeX recorded a trading volume of $2.15 billion, with a TVL of $429 million and $1.16 billion in open interest;
- Aster achieved a daily trading volume of $1.74 billion, a TVL of $1.25 billion, and open interest reaching $2.73 billion;
- Variational reported $1.6 billion in trading volume, $66.18 million in TVL, and $1.19 billion in open interest;
- Paradex recorded $1.59 billion in trading volume, $227 million in TVL, and $633 million in open interest;
- Pacifica had a lower trading volume of $966 million, $46.52 million in TVL, and $87.04 million in open interest.
Overall, open interest across major platforms remained relatively stable, indicating a balanced and cautious market sentiment.