Traders seeking a combination of high leverage and true decentralization are increasingly turning to Hyperliquid. The decentralized exchange, which specializes in perpetuals trading, has widened the gap between itself and competitors such as Aster and Lighter, both of which continue to struggle to turn short-term trading spikes into sustained volume.
Over the past seven days, Hyperliquid recorded approximately $ETH 40.7 billion in perpetuals trading volume, according to data from CryptoRank and DeFiLlama. This puts it well ahead of Aster, which saw $ETH 31.7 billion, and Lighter, which posted $BNB 25.3 billion over the same period.

