Perp DEX Daily Trading Data Overview | Hyperliquid Leads with 8.9 Billion in Trading Volume

2026-01-21 10:46:11

Abstract generation in progress

【Blockchain Rhythm】On January 21, the derivatives trading market experienced some interesting changes. According to the latest data, the open interest on major Perp DEX platforms has stabilized after continuous decline, while trading activity has actually picked up.

In terms of market performance, Hyperliquid continues to maintain its leading position, with a 24-hour trading volume reaching $8.97 billion, a TVL of approximately $4.51 billion, and open contracts totaling about $8.18 billion. Notably, although the open interest on this platform decreased slightly by 6% month-over-month, trading activity remains high.

Among other platforms, Aster performed steadily, with a trading volume of about $6.10 billion and open contracts of $2.46 billion. Lighter and EdgeX follow closely, recording average daily trading volumes of $4.92 billion and $4.59 billion respectively. The mid-sized platform Paradex has a 24-hour trading volume of approximately $1.76 billion, with a relatively stable market share. As a rising star, Pacifica has a smaller trading volume (about $832 million), but its TVL proportion shows potential.

Overall, the liquidity differentiation in the derivatives sector is intensifying, with the concentration advantage of leading platforms becoming more apparent.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

9 Likes

Reward
9
4
Repost
Share

Comment

0/400

GasFeeCrying

· 4h ago

Hyperliquid is once again monopolizing the market, with a trading volume of 8.9 billion, which is truly outrageous. Other platforms simply can't compare. Aster has been performing well, reaching 6.1 billion. It seems like this round of the market trend has propelled it forward. Is the stabilization of open interest a good sign? Or does it indicate that the market is digesting previous orders? Trading activity is picking up again. I need to check whether the current entry risk is high or not. It feels like Hyperliquid is becoming increasingly dominant, and the gap with other platforms is really hard to withstand. Lighter and EdgeX have both surpassed 4.5 billion. It seems that the derivatives market is indeed experiencing a resurgence of activity. Do these numbers indicate a bottom signal? Or is it just the last rebound before a continued decline? Is Aster currently popular? I want to try out this new platform to see if it's really user-friendly.

View OriginalReply0

ForkItAll

· 4h ago

Hyperliquid's 8.97 billion scale is a bit outrageous; other platforms simply can't catch up. --- Wait, the open interest has decreased by 6% but activity remains high? This logic is a bit confusing. Could it be that big players are clearing out positions while small traders are entering? --- Aster's 6.1 billion trading volume feels inflated; it’s not as solid as Hyperliquid. --- Is the recent stabilization in the derivatives market truly stable, or is it just a temporary dip? I just want to know how long it can hold up. --- Lighter and EdgeX are both nearing 5 billion; this pattern needs to be reshaped. --- Looking at the data again, Hyperliquid is truly dominant; the gap with other platforms is getting bigger. --- No, why is trading activity warming up but open interest is actually decreasing? Can anyone explain this? --- The number on Paradex wasn't fully displayed, trying to keep us in suspense again.

View OriginalReply0

TradingNightmare

· 4h ago

Hyperliquid is again at 8.9 billion? This gap is truly incredible; other platforms can only gather dust.

View OriginalReply0

AirdropATM

· 4h ago

Hyperliquid is truly amazing, with 8.97 billion almost reaching 10 billion, other platforms can only gather dust. aster is pretty good, 6.1 billion is also an impressive performance. lighter and edgex are similar, just a little difference in meaning. The perp market seems to be really warming up, this wave of market movement is quite good. However, open interest has only decreased by 6%, it feels like it's still consolidating at the bottom.

View OriginalReply0