Lighter trading volume plummets post-airdrop

Trading volume on the decentralized perpetual futures exchange (PerpDEX) Lighter has plummeted since its recent airdrop, blockchain analysis platform Cryptorank.io reported via X. The platform's weekly trading volume has fallen by nearly three times from its peak. As a result of the decline, Hyperliquid (HYPE) has reclaimed its position as the leading PerpDEX by trading volume. Cryptorank also highlighted Variational as another noteworthy platform, with daily trading volumes around the $1 billion level.