On April 17, data from DefiLlama revealed a general decline in trading volumes across major on-chain perpetual decentralized exchanges (Perp DEXs). Hyperliquid saw a significant 16% drop in trading volume compared to the previous day, while TradeXYZ's weekly volume reverted to levels last seen in early March. Despite the downturn, Hyperliquid remains the leading Perp DEX with a 24-hour trading volume of approximately $6.52 billion and open interest of $7.58 billion. TradeXYZ follows with a 24-hour trading volume of $1.6 billion and open interest of $1.79 billion. Aster ranks second in trading volume, recording $2.08 billion in 24-hour trading volume and $2.09 billion in open interest. Other notable DEXs include EdgeX and Lighter, with trading volumes of $2.04 billion and $1.59 billion, respectively.
Perp DEXs Experience Volume Decline; Hyperliquid and TradeXYZ Hit Hard
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