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Coinglass Ignites Perp DEX Data War Amid Hyperliquid Volume Debate

Published on February 09, 2026

Categories: Defi Market Analysis Exchanges Data Analysis

A recent analysis by Coinglass has ignited a significant debate within the crypto derivatives sector, exposing marked discrepancies in trading volumes, open interest, and liquidations across perpetual decentralized exchanges (perp DEXs) such as Hyperliquid, Aster, and Lighter. The study highlights underlying rifts and raises questions about what constitutes genuine trading activity on these platforms.

An analysis by Coinglass comparing perpetual decentralized exchange (perp DEX) data has sparked fierce debate and, in the process, highlighted rifts within the crypto derivatives sector. The study exposed marked discrepancies in trading volumes, open interest, and liquidations across Hyperliquid, Aster, and Lighter. Users are left asking what qualifies as genuine trading activity on these

The post Coinglass Ignites Perp DEX Data War Amid Hyperliquid Volume Debate appeared first on BeInCrypto.

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A digital battleground featuring data graphs and charts, representing a 'data war' among decentralized exchanges (DEXs). Visual elements should include conflicting volume metrics and open interest figures, with neon lines indicating discrepancies and highlighting the competitive crypto derivatives sector.