Mainstream Perp DEX Overview: Market Sentiment Impacting Open Interest across Platforms, Hyperliquid Leads in Trading Volume

January 20th – Perpetual DEX (Perp DEX) open interest across platforms has declined over the past 24 hours amid a market downturn, per DefiLlama data. Hyperliquid, which retains the top spot in trading volume, saw its open interest drop by roughly 9% from yesterday. Key 24-hour metrics for major Perp DEXs: - Hyperliquid: ~$63.6B trading volume | ~$45.7B TVL | ~$87.7B open interest - Aster: ~$46.6B trading volume | ~$12.5B TVL | ~$26.1B open interest - Lighter: ~$33.6B trading volume | ~$10.7B TVL | ~$13.3B open interest - EdgeX: ~$28.2B trading volume | ~$4.27B TVL | ~$11.6B open interest - Paradex: ~$27.2B trading volume | ~$2.26B TVL | ~$6.41B open interest - Pacifica: ~$9.22B trading volume | ~$46.54M TVL | ~$82.95M open interest