I just reviewed the weekend numbers and there's something interesting happening in the perp market. While overall volume decreased, Hyperliquid and TradeXYZ continue to move strongly. TradeXYZ, which is part of the HIP-3 ecosystem, grew 13% in holdings compared to Friday, helping to push the total open interest of Hyperliquid.

Looking at the 24-hour numbers, Hyperliquid dominates with $5.18 billion in perp trading volume and $7.83 billion in open interest. TradeXYZ is close behind with $1.69 billion in volume and $2.1 billion in open interest. Then come Aster with $1.45 billion, EdgeX with $1.24 billion, and ApeX with $1.06 billion. Even Pacifica added $253 million, so the DEX perp market is quite fragmented.

What catches my attention is that despite the overall decline, these protocols maintain activity. It seems traders are still seeking opportunities in the perps even when the rest of the market slows down.