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The permanent decentralized exchange market has undergone a new rearrangement. The hyperliquid regained the lead, while the perpetual volume of the weekly trade of Litere fell almost three times from its peak.
Meanwhile, the LIT token fell to an all-time low on Monday, weighed down by broader market weakness and the exit of airdrop holders.
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Hyperliquid will regain its dominance on decentralized trading platforms forever
Hyperliquid regains first place among permanent DEX exchanges. CryptoRank data showed that Hyperliquid recorded approximately $40.7 billion in trading volume last week. Aster came in second place with $31.7 billion, while Lighter fell to third place at $25.3 billion.
CryptoRank noted that with the distribution of Airdrop Liteer, the trading volumes on the platform began to fade – the weekly trading volume fell almost 3 times from its peak.
Notice that this change is also evident in open interest within 24 hours. Open interest is an indicator in the derivatives market, and expresses the total number of outstanding derivative contracts (such as futures or options) that are still open and have not been settled, closed or expired.
Hyperliquid led the way with nearly $9.57 billion in open interest, surpassing the total interest of all major DEX platforms combined. As for the rest of this group, Aster, Lighter, Variational, EdgeX and Paradex, raised a total of $7.34 billion, with Lighter registering only $1.42 billion and Aster $2.73 billion.
The article added that Variational has also become a prominent contender, currently registering $1 billion in daily trading volume and occupying one of the top five spots among perpetual DEX platforms.
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Lighter Token (LIT) falls to an all-time low
The post-airdrop slowdown affected not only the trading volume, but also the price of the LIT token. Since launch, the altcoin has seen significant volatility. An analyst noted that about 40% of the airdrops were sold during the first week.
The post stated that the holders of the airdrop are leaving. In a short time, the percentage of tokens owned by the original recipients fell from 51% to 36%, and I am sure that at the moment you read this, the percentage is even lower … The state of fear, uncertainty and doubt is recurring, and even Hyperliquid has spent months of this situation. Always keep an eye on the internal indicators, they are not too bad.
Data from BeInCrypto Markets showed that the token It lost 37% of its value During the past month. Today, LIT fell to $1.68 on OKX, hitting an all-time low.
At the time of writing, the altcoin is trading at $1.71, down more than 14% in the past day alone.
Lighter has recently faced significant challenges amid a broader downward trend in the market. The total market capitalization decreased by 2.6% in the past day. Also, another token belonging to the perpetual DEX, Aster, which is the native token of the Aster project, has declined. By more than 12% to a record loweven after the launch of the fifth stage purchase program.
