Hyperliquid reclaims top perpetual DEX spot as Lighter volumes and LIT fall

Beincrypto reported that Hyperliquid has reclaimed the lead among perpetual decentralized exchanges, posting about $40.7 billion in weekly trading volume.

CryptoRank data showed Aster ranked second with $31.7 billion and Lighter slid to third with $25.3 billion. The post noted Lighter’s weekly perpetual volume has decreased nearly threefold from its peak as the platform’s airdrop is distributed. Hyperliquid also led 24‑hour open interest at roughly $9.57 billion versus a combined $7.34 billion among Aster, Lighter, Variational, edgeX and Paradex; Lighter held about $1.42 billion. The post added that Variational is now posting about $1 billion in daily volume and sits in the top five.

Market weakness has hit Lighter’s token as well: an analyst noted roughly 40% of the airdrop was sold in the first week and the post said tokens held by original recipients fell from 51% to 36%. Market data showed LIT plunged to $1.68 on OKX for a new low and was trading at $1.71 at the time of writing, down about 37% over the past month and more than 14% in the past day. The wider market is also softer, with total market cap down 2.6% in the past day, and Aster’s token fell over 12% to a record low despite launching a Stage 5 Buyback Program.

Key Topics

Crypto, Hyperliquid, Lighter, Lit Token, Aster, Variational