Hyperliquid has emerged as the leading platform in the perpetual decentralized exchange (Perp DEX) sector, recording a 24-hour trading volume of $7.5 billion, according to DefiLlama data on January 9. Despite this surge in trading activity, Hyperliquid's open interest and total value locked (TVL) remained stable, suggesting a cautious market sentiment. Following Hyperliquid, Aster ranked second with a 24-hour trading volume of $5.75 billion, while Lighter and EdgeX reported volumes of $4.66 billion and $3.87 billion, respectively. Other notable platforms include Variational with $1.59 billion and Paradex with $1.57 billion in daily trading volume. Pacifica recorded a volume of $937 million, highlighting the competitive landscape within the Perp DEX market.