With markets still lagging, indices for BTC, crypto miners, and the Solana ecosystem are down

Bitcoin falls, even as Strategy buys $835.6M for its holdings

pump.fun's Mayhem Mode feature did not work as expected, with the number of new Token only increasing slightly and users complaining that they were being "duped" by the AI.
The Mayhem Mode feature of pump.fun causes t...

Mayhem Mode feature of pump.fun is disappointing, users are "turned upside down"

The chairman of the US Senate Banking Committee, Senator Tim Scott, said he expects to bring a bill on the structure of the cryptocurrency market to a vote next month, paving the way for President Donald Trump to...

The US is expected to vote on a cryptocurrency regulatory framework bill in December.

Editor's Note: The decentralized perpetual contract (Perp DEX) market has undergone dramatic changes in the past year: from Hyperliquid's absolute dominance to the rise of Aster, Lighter, and EdgeX, the market landscape is being reshaped.

This article provides an in-depth analysis of the four major platforms from the perspectives of technical architecture, core metrics, risk events, and long-term feasibility, aiming to help readers see the "truth behind the data," rather than making judgments based solely on trading volume rankings.

The following is the original text: In 2025, the decentralized perpetual contract (perp DEX) market will experience explosive growth...