Perp DEXs nearly triple volume in 2025 as onchain derivatives mature
<img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMTIvMDE5YjczYTUtODhlYy03OGE1LWFlODctOGNjMjNhOGEzNDFiLmpwZw==.jpg" alt="Perp DEXs nearly triple volume in 2025 as onchain derivatives mature">Trading activity concentrated in the second half as Hyperliquid’s early lead faced growing pressure from Aster and Lighter.


Cointelegraph
Perpetuals DEX Volume Hit $7.9T in 2025 as Onchain Trading Scales
Perpetuals DEXs saw a decisive shift in 2025 as liquidity deepened, competition increased and decentralized venues absorbed more leveraged trading.














