Leading Perpetual DEXES by Trading Volume Insights
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The realm of Perpetual Decentralized Exchanges (Perp DEXES) is thriving, offering a non-custodial platform for users to engage in perpetual futures contracts. A recent analysis highlights the top performers based on weekly trading volume, showcasing a competitive landscape.
At the forefront of this sector is Hyperliquid exchange, which has achieved an impressive milestone with 314,000 active addresses within 30 days. The platform has amassed a Total Volume Locked (TVL) of $4.2 billion, alongside a remarkable trading volume of $35.4 billion over the past week.
Lighter follows closely behind as a strong contender, recording 248,100 active addresses and generating a significant revenue of approximately $17 billion. The platform’s TVL stands at $873 million, indicating its growing foothold in the market.
Aster, another key player, demonstrates considerable growth with a TVL reaching $1 billion and revenue of $16.4 billion over the last seven days. This performance underscores the increasing interest in decentralized trading solutions.
In fourth place is edgeX, which boasts 13,400 active users and has successfully generated $15.6 billion in revenue, with a TVL of $182.4 million. Following edgeX, ApeX shows a solid performance with $8.3 billion in revenue and a TVL of $38.4 million, supported by its 1,400 active addresses.
Notably, Grvt has captured attention with 151 active addresses, generating revenue of $7.6 billion and a TVL of $95.3 million. Variational and tradeXYZ have also made their mark, achieving $7.2 billion and $6.3 billion in revenue, respectively.
Extended secures its position with a TVL of $207.8 million and revenue of $5.3 billion. StandX ranks tenth with $3.9 billion in revenue and a TVL of $70.9 million, while Pacifica garners $3.6 billion in revenue and a TVL of $36.2 million.
Further down the list, Reya occupies the 12th spot with a TVL of $36.2 million and a revenue of $2.7 billion. Paradex claims $2.5 billion in revenue alongside a TVL of $153.2 million. Nado ranks just above MYX, with a TVL of $53 million and $2.4 billion in revenue, while MYX rounds out the list with revenue of $2.3 billion and a TVL of $21 million. Notably, the last nine exchanges have not disclosed their active address numbers.
This data illustrates the dynamic nature of the Perpetual DEX market, with platforms competing vigorously for user engagement and trading volume, warranting close monitoring as the landscape evolves.
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Gregory Russell
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