Hyperliquid's 7-day trading volume of 40.7 billion ranks first, reclaiming the top position in Perp DEX

With the completion of the Lighter airdrop, the trading volume on the platform has plummeted nearly threefold from its peak, and Hyperliquid has reclaimed the top position in Perp DEX.

According to CryptoRank data, as of January 18, Hyperliquid's trading volume over the past 7 days reached $40.7 billion, with $9.57 billion in open contracts in the last 24 hours, ranking first in both trading volume and open interest. Competitors Aster and Lighter recorded 7-day trading volumes of $31.7 billion and $25.3 billion, respectively.

Notably, the newcomer Variational has surged into the top five, currently achieving a daily trading volume of $1 billion and $1.32 billion in open contracts over the last 24 hours, becoming a dark horse in the decentralized derivatives space.