DEX trading volume surges, leveraging demand shifts the market's center of gravity.
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Duong announced on the same day through Official X that decentralized exchanges are processing $1 trillion (KRW 1,447.8 trillion) in monthly perpetual futures trading volume. He explained that in an environment where a traditional altcoin bull market has not occurred, traders have sought profit opportunities through leveraged derivatives instead of spot markets.
Duong noted that the high leverage offered by perpetual futures allows investors to gain exposure to price volatility with relatively little capital. He noted that on-chain, decentralized trading platforms are at the heart of this shift.
Perpetual futures are cryptocurrency derivatives that allow users to bet on asset price fluctuations without an expiration date. Duong believes that perpetual futures are evolving beyond a short-term speculative tool to become a core trading infrastructure in the DeFi market.
Competition between platforms is rapidly intensifying in the on-chain perpetual futures market. Hyperliquid, which launched in late 2023, saw a surge in trading volume in 2024, processing approximately $319 billion (KRW 461.8482 trillion) in July alone.
Aster rapidly gained market share, recording approximately $36 billion (KRW 52.12 trillion) in daily trading volume immediately following its token generation event in September. Lighter raised $68 million (KRW 98.396 billion) in a funding round following its mainnet launch.
According to DeFiLlama data, on-chain perpetual futures trading volume reached approximately $972 billion (KRW 1,406.484 trillion) over the past 30 days. During the same period, Lighter recorded approximately $203 billion, Aster approximately $171.8 billion, and Hyperliquid approximately $160.6 billion.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
