I noticed that Hyperliquid is really making noise right now. In 24 hours, the volume reached $9.6 billion, which is a 37% increase compared to the previous week. That's quite impressive when you look at the overall market condition.

What’s interesting is that despite this volume boost, open interest hasn't kept up at the same pace. And honestly, when looking at other Perp DEXs, most are stagnating or slightly decreasing. Hyperliquid really stands out with a TVL of about $4.32 billion and an open interest of $5.62 billion.

Aster and Lighter are doing their thing with 24-hour volumes of $2.71 billion and $2.35 billion respectively, but clearly Hyperliquid is crushing the competition right now. It remains to be seen if this continues or if it’s just a spike in activity.