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Mainstream Perp DEX Overview: Hyperliquid and Aster Experience Over 30% Trading Volume Surge, Increased Liquidity Mining Activity

2025.12.10 18:59:17

December 10 – Per DefiLlama data, major Perpetual Futures DEX (Perp DEX) platforms recorded **increased 24-hour trading volumes**, a slight rebound in open interest, and minimal TVL changes over the past day. This signals active capital flows across platforms and rising leverage usage. Key platform metrics (24h): - **Lighter**: Volume ~$88.3B | TVL ~$13.9B | Open Interest ~$17.3B - **Hyperliquid** (https://app.hyperliquid.xyz/join/NTOD): Volume ~$85.2B | TVL ~$44.6B | Open Interest ~$67.9B - **Aster** (https://www.asterdex.com/zh-CN/referral/aboter): Volume ~$76B | TVL ~$13.8B | Open Interest ~$27.2B - **EdgeX**: Volume ~$61.3B | TVL ~$4.01B | Open Interest ~$8.31B - **ApeX**: Volume ~$32.9B | TVL ~$47.27M | Open Interest ~$93.03M - **Backpack**: Volume ~$12.1B | TVL Undisclosed | Open Interest ~$2.04B - **Variational**: Volume ~$10.3B | TVL ~$72.86M | Open Interest ~$32B - **Pacifica** (https://app.pacifica.fi/?referral=pacbot): Volume ~$7.12B | TVL ~$42.45M | Open Interest ~$7.12M ### Notes on American English adaptation: 1. **Date format**: "December 10" (no trailing "th" in casual/financial content, common in U.S. news). 2. **Abbreviations**: Standardized `B` (billion) / `M` (million) for readability (U.S. financial shorthand). 3. **Tone**: Concise, action-driven (e.g., "recorded increased volumes" instead of "has increased"). 4. **Clarity**: Separated metrics with pipes (`|`) for skimmability (common in U.S. crypto bulletins). 5. **Terminology**: Retained "Perp DEX" (widely understood U.S. crypto slang) but clarified with "Perpetual Futures DEX" on first mention. No Chinese characters included; fully aligned with U.S. financial/crypto news conventions.
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