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Perp DEXs almost triple volume in 2025 as onchain derivatives mature
31.12.2025
Trading activity concentrated in the second half as Hyperliquid’s early lead faced increasing pressure from Aster and Lighter
SDEX Soars 160% After Smardex Unveils Unified DeFi Protocol
17.12.2025
SDEX jumped more than 160% after Smardex announced its shift to the unified protocol, which merges a DEX, lending market and perpetual-style trading into a single smart contract and liquidity pool. A Unified Architecture for Capital Efficiency The native token of the decentralized finance (DeFi)...
November Softens but Perp DEX Platforms Flex $1.13 Trillion in Onchain Derivatives Action
1.12.2025
While decentralized perpetual exchanges, or perp DEXes, clocked an eye-popping $1.2 trillion in volume in October, the data reveals their November tally eased slightly, trading a bit softer than the prior month’s fireworks. While the dip clocked in at just $70 billion, November’s perp DEX haul...
Arthur Hayes: Crypto Forces TradFi to Adapt or Die With Equity Perps Becoming 2026’s Hottest Play
30.11.2025
Crypto-driven perpetual futures are rapidly emerging as the next frontier in global price discovery, reshaping how equities and major indices will trade as traditional exchanges confront an urgent adapt-or-die crossroads. Perpetual Futures’ Rising Influence on Global Markets Bitmex co-founder...
Safepal Integrates Hyperliquid to Create Wallet‑Native Perp DEX Hub
20.11.2025
Safepal announced a native integration with Hyperliquid, the high‑performance DEX for perpetual futures, enabling users to trade perps with up to 40x leverage (including BTC and ETH pairs) directly within Safepal’s software and hardware wallets. The V4.10.4 app update adds onchain orderbook access...
Hyperliquid Rival Lighter Valued at $1.5B after Raising $68M
12.11.2025
The Ethereum-based decentralized finance (DeFi) platform went live in October after initially raising $21 million in a previous round led by Haun Ventures. Lighter Becomes Crypto’s Latest Unicorn After $68M Round Lighter, the new kid on the block competing against perpetual futures giant...
Perp DEX Space Heats up — Lighter Ignites $68M Fundraise as Investors Flock to Defi’s Next Big Thing
11.11.2025
Vladimir Novakovski’s blockchain startup Lighter has secured $68 million in fresh funding from top-tier backers, marking one of the most notable reverse pivots in Silicon Valley—from artificial intelligence (AI) back to crypto. According to a Forbes report, Lighter’s $68 million round was led...
21shares Aims to Launch Hyperliquid ETF Tracking HYPE’s Spot Price
29.10.2025
21shares US LLC, a subsidiary of 21.co recently acquired by Falconx, filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on Wednesday, to launch the 21shares Hyperliquid ETF — a fund that tracks the spot price of HYPE, the native token of the Hyperliquid...
Astros Launches and Joins the $1 Trillion Perp DEX Horse Race
27.10.2025
The new decentralized exchange (DEX) is built on top of the Sui blockchain which recently topped $2.6 billion in total value locked (TVL). A New Contender Emerges in the $1 Trillion Perpetual DEX Race Perpetual DEXs topped $1 trillion in trading volume last month, spurred by the emergence of...
IPO Buzz: Hyperliquid Strategies’ $1B Filing Sparks 15% HYPE Rally
23.10.2025
Hyperliquid Strategies Inc. (HSI), formed from an $888 million reverse merger between Sonnet Biotherapeutics Holdings Inc. and Rorschach I LLC, has filed a Form S-1 registration with the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion through an offering of 160 million...
Synthetix Soars 120% as Derivatives Hype Reignites DeFi’s 'Dino Coin'
13.10.2025
The DeFi veteran’s 120% surge comes ahead of a new perpetuals DEX launch and a high-profile trading competition that could reignite interest in legacy protocols
Aster Dominates Record $1.4 Trillion Perpetuals DEX Trading Volume in September
5.10.2025
Perpetual DEX trading volumes topped $1.43 trillion in September, a nearly 50% month-over-month increase. Aster led with more than $670 billion, while Hyperliquid and Lighter crossed $100 billion each. Perp DEX Volumes Break $1.4 Trillion in September, Led by Aster and Hyperliquid Perpetual...
Aster, Hyperliquid, and More: Nearly $1 Trillion in Perp DEX Trades Recorded in Just 30 Days
28.9.2025
With the perpetual decentralized exchange (DEX) wars blazing hotter than a meme coin rally, defillama.com shows the battlefield tally: nearly a trillion dollars in trades over the last week, with a cool $869.189 billion stamped on the books. Aster and Hyperliquid Command 52.80% of $869B Perp...
2025’s Perp DEX Wars: New Money, New Tech, No off-Switch
26.9.2025
Perpetual futures have become crypto’s main event, and the perp DEX wars—led by Hyperliquid, Aster, GMX, DYdX, ApeX, Drift, Jupiter, EdgeX, and Sunperp—are where the action won’t quit. From Order Books to Onchain: Inside 2025’s Perp DEX Dogfight Perpetuals are derivatives without an expiry; funding...
Tron’s Sunperp Debuts as Perp DEX Competition Intensifies
21.9.2025
Tron’s latest entrant in decentralized derivatives, Sunperp, has opened for traders, adding a new venue to a field crowded by perp players like Hyperliquid, Avantis, Aster, Dydx, GMX, and Jupiter. Sunperp Opens on Tron; Traders Eye Fees, Slippage, and Funding Positioned as a perpetuals-focused...