Weekend Mainstream Perp DEX Overview: Platform Trading Volumes Dip, Hyperliquid Open Interest Remains Relatively High
**Update:**
As of March 9, data from DefiLlama shows trading activity across major perpetual protocol DEXs remained relatively muted over the weekend. Hyperliquid’s trading volume came in under $5 billion, though its total value locked (TVL) saw a modest uptick and open interest held a minor fluctuation. EdgeX held the second spot by trading volume, while Hyperliquid retained the top position.
Below are the latest 24-hour trading volume, TVL, and open interest figures for leading perpetual protocol DEXs:
- **Hyperliquid**: ~$45.7 billion (24h trading volume) | ~$44.4 billion (TVL) | ~$57.1 billion (open interest)
- **EdgeX**: ~$20.8 billion (24h trading volume) | ~$1.79 billion (TVL) | ~$10.3 billion (open interest)
- **Aster**: ~$17.7 billion (24h trading volume) | ~$9.72 billion (TVL) | ~$21.4 billion (open interest)
- **Lighter**: ~$16.5 billion (24h trading volume) | ~$6.33 billion (TVL) | ~$6.36 billion (open interest)
- **Apex**: ~$11.0 billion (24h trading volume
9 minutes ago
On-chain Tokenization of Real-World Assets Surpasses $25 Billion, Nearly Quadrupling in One Year
On March 9, CoinDesk data shows that on-chain tokenization of real-world assets (RWA)—excluding stablecoins—has surpassed $25 billion, nearly quadrupling from roughly $6.4 billion a year ago.
Over the past year, several traditional asset management firms have ramped up tokenized product launches, with BlackRock, Fidelity Investments and WisdomTree all rolling out related tokenized fund offerings.
Currently, six asset classes have on-chain values exceeding $1 billion: U.S. Treasuries, commodities, private credit, institutional alternative funds, corporate bonds and non-U.S. government bonds. U.S. Treasury products have seen particularly strong growth, with the number of related tokenized offerings rising from 35 to more than 50.
Industry data, however, indicates the current RWA market growth stems primarily from institutional issuance—not secondary trading. A large share of on-chain transfer volume is concentrated at the $10 million level, meaning institutions typically allocat
9 minutes ago
On-chain WTI Crude Oil briefly dipped to $94, witnessing a two-whale "buy the dip" maneuver to accumulate million-dollar long positions.
March 9th
Per HyperInsight monitoring, WTI crude oil briefly dropped to $97 per barrel. On Hyperliquid, the corresponding mapping contract (CL) temporarily fell below $94 amid a liquidity squeeze, showing a needle-drop trend. Two whales took long positions during this period:
1. Whale starting with 0x202: With an extremely narrow liquidation price and 20x leverage, it entered precisely at the needle-drop level with an average price of $95.38, opening a long position equivalent to 39,500 barrels of oil (~$3.75 million). As prices rebounded to $100, it partially closed positions to take profits. Current position size: ~$3.65 million; liquidation price: $92.9; unrealized profit: $230,000 (ROI 57%).
2. "Shanzhai Air Force Head" Whale: Continued going long after prices fell below $100, and added to positions during the rebound. Short-term position size exceeded $7.7 million; average entry price: $100.3; liquidation price: $76.9; unrealized profit: $100,000 (5%).
9 minutes ago
Stablecoin Payment Company KAST Completes $80 Million Financing Round, Valued at $600 Million
March 9th – Stablecoin payment firm KAST has raised $80 million in its latest funding round, valuing the company at approximately $600 million, per Bloomberg. Insiders note that as demand for "digital dollar account" offerings grows, venture capital firms are ramping up investments in related startups.
KAST projects its Annual Recurring Revenue (ARR) will hit $100 million this year. The firm focuses on stablecoin-powered payment and account services, enabling users to settle transactions in U.S. dollars via blockchain networks.
Industry insiders highlight that amid the ongoing expansion of stablecoin use cases, companies offering stablecoin payment and digital dollar account services are emerging as key targets for venture capital.
Previously, BlockBeats reported that on December 12, 2024, KAST closed a $10 million seed round led by HongShan and Peak XV. Proceeds will fund the launch of savings products, expansion of remittance services, and buildout of stablecoin infrastructu
9 minutes ago
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