# Market Activity Related Articles

Coinglass Report Highlights Discrepancies Across Perp DEXs, Raising Debate

Coinglass's recent analysis of perpetual decentralized exchanges (DEXs) like Hyperliquid, Aster, and Lighter has sparked debate due to significant discrepancies in reported metrics. Hyperliquid showed $3.76B in trading volume, $4.05B in open interest (OI), and $122.96M in liquidations, indicating consistent and real market activity. In contrast, Aster and Lighter reported high volumes ($2.76B and $1.81B) but significantly lower OI ($927M and $731M) and minimal liquidations ($7.2M and $3.34M). Coinglass suggests these disparities may indicate artificial volume inflation from airdrop farming, self-trading, or reporting issues, rather than genuine trading. The report concludes that Hyperliquid’s metrics align more closely with healthy market behavior, while Aster and Lighter’s volume quality requires further validation. The analysis prompted community debate, with some accusing Coinglass of bias, though the firm maintains its findings are data-driven and unbiased.

TheNewsCrypto02/09 12:41