Decentralized exchanges (DEXes) are hitting record levels in perpetual futures trading volume as platforms aim to offer users features that could rival their centralized counterparts.
Data from DeFiLlama shows that DEXes have collectively powered $1.047 trillion in perpetual futures trading volume this month, representing a new all-time high.
[adinserter block="1"]The data also shows that DEXes processed $515.271 billion from September 22nd to 28th, the week when Bitcoin (BTC) dropped to $108,611, triggering massive liquidations across the crypto market.
Leading the DEX wave is the Binance-backed platform Aster (ASTER), recording $290.278 billion in perpetual futures trading over the last 30 days. The protocol touts its one-click trading with up to 1,001x leverage in Simple Mode and full-featured, pro-grade tools in Pro Mode.
Coming in at number two is Hyperliquid (HYPE), the 19th-largest crypto project with a market cap of $12.6 billion. In the last 30 days, Hyperliquid processed over $279 billion in perpetual futures trading volume.
Sitting at number three is Lighter, with its one-month perpetual futures trading volume standing at $158.308 billion. The DEX says it currently does not charge taker or maker fees for standard accounts.
“Everyone can trade in all of the markets free of charge. Premium accounts are subject to taker and maker fees.”
At number four is the Ethereum (ETH)-based DEX edgeX. DeFiLlama shows that the protocol recorded $80.52 billion in perpetual futures trading volume from September 1st to September 30th.
Rounding out the top five list is the Solana (SOL)-based platform Jupiter (JUP), powering $21.5 billion in perpetual futures trading volume this month.
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