DeFi perps volume explodes past $1T in a record month so far

Decentralized perpetual trading volume for October has already exceeded $1 trillion, significantly surpassing the previous record of $762 billion set in August, according to DeFiLlama data. Hyperliquid leads this surge with $317.6 billion in volume, followed by Lighter, Aster, and edgeX. At the current pace, the total volume for October is projected to reach approximately $1.3 trillion. Perpetual contracts are popular due to their 24/7 trading, high leverage, and ability to profit in both rising and falling markets. Although centralized exchanges like Binance and Bybit still dominate perps trading, decentralized platforms are rapidly closing the gap, partly due to innovations like Hyperliquid, which founder Kain Warwick noted was the first to successfully scale the concept.

(Source：Cointelegraph)