January Perp DEX Trading Booms: Hyperliquid Leads with $7.4 Billion, New Funds Continue to Flow In

NonFungibleDegen · 2026-01-06T10:10:14+00:00

Recently, the Perp DEX market has been active, with trading volume significantly increasing. The leading platform Hyperliquid's daily trading volume reached $7.49 billion, and open interest hit a nearly two-month high; overall market capital inflow has accelerated, trading enthusiasm is high, but leverage use requires caution.

NonFungibleDegen

2026-01-06 10:10:14

Abstract generation in progress

【Blockchain Rhythm】 Recently, the Perp DEX market has been quite active. As of January 6, the overall trading volume of perpetual contracts on exchanges in the past 24 hours has seen a significant increase, with market liquidity continuously rising.

Among them, the leading platform Hyperliquid performed exceptionally well, with a daily trading volume reaching $7.49 billion, firmly occupying the top tier. More notably, the platform’s open interest just hit a nearly two-month high of $8.73 billion, while total value locked (TVL) also increased to $4.32 billion. This signals clearly — new funds are continuously flowing into the market, and traders are increasing leverage.

Looking at data from other major platforms further highlights the heat of this market. Lighter and Aster follow closely, with 24-hour trading volumes of $5.81 billion and $5.61 billion respectively, and open interest of $1.5 billion and $2.73 billion. This indicates that it’s not just a single platform heating up, but the entire DEX ecosystem’s trading enthusiasm is ignited.

EdgeX also performed well, with a trading volume of $4.37 billion, open interest of $912 million, and a TVL of $357 million. Further down, Variational’s trading volume is $1.87 billion, Paradex’s is $1.8 billion, and even the relatively smaller Pacifica has a 24-hour trading volume of $704 million.

What can we see from these data? First, the market liquidity is sufficient, and all DEXs are sharing in this wave of benefits; second, traders’ leverage enthusiasm is high, with open interest continuously growing; third, funds are seeking yield opportunities, especially in high-volatility products like perpetual contracts. For those wanting to participate in Perp trading, there are many platforms to choose from, and trading depth is sufficient. But risks should also be kept in mind — leverage is a double-edged sword; when the market is good, profits can double, but during volatility, losses can happen in seconds.

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screenshot_gains

· 01-09 05:24

Leverage is going crazy, this wave might liquidate a bunch of people Hyperliquid's data is pretty intense, funds are pouring in 740 million in daily trading volume, I believe you guys are really playing Adding leverage is just gambling, the question is who will get liquidated 8.7 billion in open interest, are they working for the exchanges? This wave of hype feels fake, funds come in fast and go out just as quickly Is Hyperliquid really that strong? Or is it just for the novelty? Seeing the data rise, but the actual pockets are shrinking, understand? New funds are flowing in again, reaching new highs, friends need to wake up 580 million and 560 million follow closely behind? Indicates the market is very fragmented

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wagmi_eventually

· 01-09 05:02

hyperliquid, this number is really crazy, $7.4 billion in one day? The leverage freaks are starting to get excited again.

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MemeKingNFT

· 01-06 10:39

Hmm, 8.73 billion in open interest, this leverage vibe is a bit strong... The last time I saw this data was the night before a crash. 74.9 billion in daily trading volume, Hyperliquid, are you trying to replicate the frenzy of 2021? I need to check on-chain data to see if it will give a bearish signal. Funds pouring in sounds great, but I'm just worried this is another wave of "market sentiment" before the retail investors get wiped out... Stay cautious but optimistic, everyone. Lighter and Aster are right behind... This synchronized rise either means a successful bottoming or everyone sliding down together—who's betting on what? 87 billion in open interest, adding leverage after leverage... I can almost hear the sound of futures liquidations. Either it's a cold shower or a déjà vu feeling.

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shadowy_supercoder

· 01-06 10:28

HL's data is a bit outrageous—87 billion open contracts. These leveraged players are really crazy. --- Hyperliquid is about to get another win. Other platforms can only follow behind. --- New funds flowing in? Or are the old rookies still stubbornly holding on? --- 74 billion in daily trading volume. Really? Or is it just another scam to take people's money? --- Adding leverage, adding leverage. I already said this would lead to liquidation this time. --- HL is indeed strong, but the risk is also high. This is just the beginning. --- Active funds are increasing? Feels like a death trap. --- Everyone is adding leverage. Who will take the fall?

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GateUser-75ee51e7

· 01-06 10:21

Hyperliquid's data is really outrageous—$7.49 billion in a single day... What is this hinting at? Everyone leveraging up just wants to get rich. The $8.73 billion in open interest makes my scalp tingle.

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NullWhisperer

· 01-06 10:15

hyperliquid hitting $87.3b oi... technically speaking that's either confidence or a liquidation cascade waiting to happen, ngl. new money flowing in is nice but let's dissect the actual risk profile here—leverage always finds its victims eventually

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