According to DeFiLlama data, Perp DEX saw its daily trading volume surpass $70 billion for the second time in history on February 5th, the day of the major crash, second only to the "1011" flash crash on October 10th, 2025. Hyperliquid's daily trading volume reached $24.7 billion, Aster's reached $10 billion, edgeX's reached $8.7 billion, and Lighter's reached $7.5 billion, among others.