Hyperliquid reclaims the perpetual DEX leadership, with a 7-day trading volume of 40.7 billion ranking first

WuSaidBlockchainW · 2026-01-19T03:49:20+00:00

With the distribution of the Lighter airdrop, the perpetual contract trading volume has significantly declined, with weekly trading volume dropping nearly 3 times. Hyperliquid has regained its position as the leader in perpetual DEX, with a trading volume of $40.7 billion over the past 7 days, surpassing Aster and Lighter.

WuSaidBlockchainW

2026-01-19 03:49:20

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According to Wu Shuo, data from CryptoRank shows that with the distribution of the Lighter airdrop, perpetual contract trading volume has significantly declined, with weekly trading volume dropping nearly 3 times from its peak, and Hyperliquid regaining its position as the leading perpetual DEX. In the past 7 days, Hyperliquid’s trading volume was approximately $40.7 billion, higher than Aster’s $31.7 billion and Lighter’s $25.3 billion. In terms of open interest for contracts not closed within 24 hours, Hyperliquid leads with about $9.57 billion. Besides Hyperliquid, platforms such as Aster, Lighter, Variational, edgeX, and Paradex have a combined OI of approximately $7.34 billion.

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