Perp DEX Platforms See Increased Open Interest and Falling TVL as Market Risk Appetite Rises

Citing Chainthink, on December 9, data from DefiLlama shows that perp DEX platforms have seen a rise in open interest across the board, while total value locked (TVL) has declined. This suggests a slight outflow of capital, but existing or new capital is likely increasing leverage or opening new positions, indicating a rise in market speculation and risk appetite. Among the platforms, Lighter recorded a 24-hour trading volume of approximately $8.61 billion, with TVL of $1.36 billion and open interest of $1.74 billion. Hyperliquid had a 24-hour trading volume of about $6.2 billion, TVL of $4.38 billion, and open interest of $6.54 billion. Aster reported a 24-hour trading volume of $5.78 billion, TVL of $1.39 billion, and open interest of $2.61 billion. EdgeX had a 24-hour trading volume of $4.71 billion, TVL of $406 million, and open interest of $810 million. ApeX recorded a 24-hour trading volume of $3.35 billion, TVL of $46.6 million, and open interest of $908.2 million. Backpack had a 24-hour trading volume of $1.1 billion, with TVL not disclosed and open interest of $207 million. Variational reported a 24-hour trading volume of $1.03 billion, TVL of $728.6 million, and open interest of $320 million. Pacifica had a 24-hour trading volume of $682 million, TVL of $422.4 million, and open interest of $666.6 million.