Decentralized perpetual exchanges reached a record high in September, with trading volume surpassing $1 trillion for the first time, nearly 50% higher than in August, according to data<\/a> from DefiLlama.<\/p>\n The surge, initially driven by Hyperliquid<\/a>, is being fueled by fresh entrants such as Aster, a BNB Chain<\/a>-based platform backed by Binance<\/a>-linked YZi Labs, and Lighter, an Ethereum<\/a> Layer 2 exchange that launched<\/a> its public mainnet beta on Wednesday.<\/p>\n The data shows Aster is now the largest perpetuals trading platform among DEXs, recording more than $576.5 billion in volume over the past 30 days, followed by Hyperliquid with $279.7 billion and Lighter with $167 billion.<\/p>\n As The Defiant reported earlier<\/a>, the influx of traders on Aster considerably boosted the platform\u2019s daily revenue, placing it in second place with $9 million, behind only Tether\u2019s $22 million and ahead of USDC issuer Circle. The platform is also mulling launching its own Layer 1 chain, though no timeline has been set.<\/p>\n Hyperliquid, once the clear leader, is now fighting to retain users. The ecosystem ran an on-chain contest to select an issuer for a native stablecoin<\/a>, although the entire initiative quickly drew criticism, with some suggesting<\/a> that insiders had an unfair advantage, raising questions about whether the process was rigged from the outset.<\/p>\n Meanwhile, Lighter opened its public mainnet after roughly eight months in closed beta<\/a>, positioning itself as an Ethereum-settled alternative to its rivals.<\/p>\n Notably, Robinhood co-founder and CEO Vlad Tenev congratulated<\/a> the team in an X post shortly after the launch, prompting speculation<\/a> that the fintech giant might eventually acquire the platform. However, other public figures also congratulated<\/a> Lighter, so it\u2019s too early to draw any conclusions yet.<\/p>\n Regardless, trading volume on all perpetual DEXs has already surpassed March\u2019s total in just the first three days of October, according to DefiLlama.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" September marked the first time perpetual DEX trading volumes exceeded $1 trillion in a single month, with the first three days of October already surpassing March\u2019s total volume. Decentralized perpetual exchanges reached a record high in September, with trading volume surpassing $1 trillion for the first time, nearly 50% higher than in August, according to […]<\/p>\n","protected":false},"author":2,"featured_media":407003,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-407002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/407002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=407002"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/407002\/revisions"}],"predecessor-version":[{"id":407004,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/407002\/revisions\/407004"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/407003"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=407002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=407002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=407002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Top](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fpasted-1759512356861-png-ba9fe0ee-b2d3-4cdb-b719-0a77bd210627.png&w=3840&q=100\"\/)