{"id":52781,"date":"2025-10-24T09:33:53","date_gmt":"2025-10-24T02:33:53","guid":{"rendered":"https:\/\/hbbgroup.net\/defi-perps-volume-explodes-past-1t-in-a-record-month-so-far\/"},"modified":"2025-10-24T09:33:53","modified_gmt":"2025-10-24T02:33:53","slug":"defi-perps-volume-explodes-past-1t-in-a-record-month-so-far","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/defi-perps-volume-explodes-past-1t-in-a-record-month-so-far\/","title":{"rendered":"DeFi perps volume explodes past $1T in a record month so far"},"content":{"rendered":"<div data-gtm-locator=\"articles\" data-v-a8d5a416>\n<article id=\"article-225112\" data-v-a8d5a416>\n<p itemprop=\"description\" data-v-a8d5a416> Hyperliquid, Aster and Lighter have pushed decentralized perps trading volume to over $1 trillion in October, beating August\u2019s tally with a week to spare. <\/p>\n<div data-v-a8d5a416><picture><source media=\"(min-width: 1200px)\" ><source media=\"(min-width: 992px)\" ><source media=\"(min-width: 768px)\" ><source media=\"(min-width: 480px)\" ><img  loading=\"eager\" fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1434\/https:\/\/s3.cointelegraph.com\/uploads\/2025-01\/01946c46-0e80-7920-a0bc-44b5d0c217ca\" alt=\"DeFi perps volume explodes past $1T in a record month so far\"><\/picture><\/div>\n<div data-v-a8d5a416>\n<div data-v-a8d5a416>\n<p>Decentralized perpetual trading volume is set for a massive month in October, having just passed a record $1 trillion with a week still to spare as traders place big bets on the crypto markets.<\/p>\n<p>The $1 trillion milestone has already beaten August\u2019s record of $762 billion by a considerable margin, according to <a data-ct-non-breakable=\"null\" href=\"https:\/\/defillama.com\/perps\" rel=\"noopener nofollow\" target=\"_blank\">data<\/a> from DeFiLlama.<\/p>\n<div>\n<p>While Hyperliquid leads October with $317.6 billion in <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/learn\/articles\/on-chain-volume-vs-trading-volume-differences-explained\">trading volume,<\/a> Lighter, Aster, and edgeX have also fared well, seeing $255.4 billion, $177.6 billion and $134.7 billion, respectively, with the rest made up of smaller decentralized exchanges. <\/p>\n<p>Those platforms contributed to a record $78 billion in decentralized perps volume on Oct. 10 alone.\u00a0<\/p>\n<\/div>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-10\/019a0f64-e6c1-7ce6-ac95-8c19e4007fc7\" title><figcaption><em>Change in monthly perps trading volume since February 2021. Source:<\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/defillama.com\/perps\" rel=\"https:\/\/defillama.com\/perps\" target=\"https:\/\/defillama.com\/perps\" title=\"https:\/\/defillama.com\/perps\"><em> DefiLlama<\/em><\/a><\/figcaption><\/figure>\n<p>Given the current run rate, decentralized perps volume is on track to finish October at about $1.3 trillion \u2014 nearly doubling August\u2019s tally.<\/p>\n<p><template data-ct-widget=\"buzzsprout\" data-buzzsprout-podcast-id=\"2040516\" data-buzzsprout-episode-id=\"17907885\"><\/template><\/p>\n<p>Perps have become popular due to their <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/cme-group-crypto-derivatives-trading-always-on?utm_source=chatgpt.com\">24\/7 trading,<\/a> high leverage, no expiration, and the ability to profit from both rising and falling markets \u2014 attracting<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/gamble-with-crypto-not-future\"> speculative traders<\/a> seeking higher returns with minimal holding requirements.<\/p>\n<h2>CEXs are still perps kings, but DEXs are catching up<\/h2>\n<p>Decentralized perps trading volume remains a fraction of that seen on <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/exchanges-will-become-dex-frontends-in-5-to-10-years-1inch-dex-aggregator-cofounder\">centralized exchanges,<\/a> with Binance and Bybit seeing $69.3 billion and $26 billion in trading volume over the last 24 hours, CoinGecko <a data-ct-non-breakable=\"null\" href=\"https:\/\/www.coingecko.com\/en\/exchanges\/derivatives\" rel=\"noopener nofollow\" target=\"_blank\">data<\/a> shows.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/hyperliquid-strategies-files-1b-raise-buy-hype\"><em><strong>Hyperliquid Strategies wants $1B to buy further into the HYPE<\/strong><\/em><\/a><\/p>\n<p>However, that lead is narrowing hard and fast as crypto innovators continue to build more user-friendly frontends for crypto perp traders to interact with.<\/p>\n<h2>Hyperliquid was the breakthrough protocol, Infinex founder says<\/h2>\n<p>Decentralized perps platforms have been around for nearly a decade, led earlier by the likes of Synthetix, dYdX, and GMX. However, Hyperliquid was the first one to \u201cget it right\u201d and scale successfully, Infinex founder Kain Warwick told Cointelegraph earlier this month.<\/p>\n<p>One of the most widely used <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/explained\/crypto-wallets-explained?utm_source=chatgpt.com\">crypto wallets,<\/a> MetaMask, integrated Hyperliquid on Oct. 8, letting users access Hyperliquid\u2019s perpetual swaps exchange directly through its app.<\/p>\n<p><em><strong>Magazine: <\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/magazine\/benjamin-wallace-mysterious-mr-nakamoto-review\/\"><em><strong>Mysterious Mr Nakamoto author: Finding Satoshi would hurt Bitcoin<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>\n<p><img decoding=\"async\" alt src=\"https:\/\/zoa.cointelegraph.com\/pixel?postId=225112&#038;regionId=1\" data-v-a8d5a416><\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Hyperliquid, Aster and Lighter have pushed decentralized perps trading volume to over $1 trillion in October, beating August\u2019s tally with [&hellip;]<\/p>","protected":false},"author":5,"featured_media":52782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-52781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/52781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=52781"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/52781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/52782"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=52781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=52781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=52781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}