Perp DEX monthly trading volume tops $1 trillion for first time as competition heats up between Hyperliquid, Aster and Lighter

Analyst Predicts Which Crypto Will Win Perp DEX War

Altcoin markets are bearing witness to a Perp DEX war, as the big guns battle for supremacy Perp DEX protocols just cleared a $1Tn month, and one analyst says the near-term winners are lining up.  Perpetual trading on decentralized exchanges just crossed a milestone: more than $1Tn in a single month. The surge highlights how fast on-chain derivatives are gaining ground, with traders now weighing which platforms could take the lead. The Block’s l…

Perpetual DEXs record over $1 trillion in monthly trading volume for the first time - Cryptopolitan

In September, the monthly trading volume on Perp DEXs surpassed $1 trillion for the first time in history, reaching a high of $1.14 trillion amid the surge in Perp trading. DeFi Llama shows that Perpetual decentralized exchanges (Perp DEXs) achieved a notable milestone over the past month, surpassing $1 trillion in monthly trading volume for the first time. This achievement reflects the sector’s rapid growth, representing a 48% growth from Augus…

Perp DEX monthly trading volume tops $1 trillion for first time as competition heats up between Hyperliquid, Aster and Lighter

The milestone represents a 48% surge compared to August's $707.6 billion trading volume, with September's total coming in at $1.05 trillion.

Perp DEX Monthly Volume Smashes $1.14 Trillion for the First Time, Driven by Hyperliquid, Aster, and Lighter

The decentralized finance (DeFi) derivatives market has already reached a historic high, as perpetual decentralized exchanges (Perp DEXs) are trading more than $1.143 trillion in September 2025, according to new data on DeFiLlama. It is the first time in history that Perp DEX activity every month has topped the trillion-dollar mark, a nearly 50 percent increase over the estimated August figure of 762 billion. Protocol Leaders in the Trillion-Dol…