Mainstream Perp DEX Overview: Hyperliquid Leads in Trading Volume, Aster Ranks Second

As of January 9th, DefiLlama data shows heightened trading activity across several Perpetual DEX (Perp DEX) platforms over the past 24 hours. Hyperliquid leads with a 24-hour trading volume of approximately $75.4 billion, but its open interest and Total Value Locked (TVL) have not grown proportionally—signaling cautious market sentiment. Key Perp DEX metrics (24h): - **Hyperliquid** (https://app.hyperliquid.xyz/join/NTOD): ~$75.4B volume | ~$43.3B TVL | ~$90.7B open interest - **Aster** (https://www.asterdex.com/zh-CN/referral/aboter): ~$57.5B volume | ~$12.5B TVL | ~$26.1B open interest - **Lighter** (https://app.lighter.xyz/?referral=70045843): ~$46.6B volume | ~$12.4B TVL | ~$14.2B open interest - **EdgeX**: ~$38.7B volume | ~$3.68B TVL | ~$11.1B open interest - **Variational**: ~$15.9B volume | ~$66.18M TVL | ~$10.9B open interest - **Paradex**: ~$15.7B volume | ~$1.86B TVL | ~$8.34B open interest - **Pacifica** (https://app.pacifica.fi/?referral=pacbot): ~$9.37B volume | ~$45.01M TVL | ~$79.31M open interest Note: Units use "B" (billion) and "M" (million) for clarity, aligning with U.S. financial content conventions.