2026-01-01 04:22:27

In 2025, the perpetual DEX market will experience explosive growth, with the total trading volume reaching $7.9 trillion, accounting for 65% of the entire sector's historical total. This figure clearly demonstrates the significant role that derivatives trading plays in the crypto market.

Interestingly, the former market oligarch Hyperliquid faced a new challenger in Q4—Aster is actively eroding its market share, leading to a noticeable shift in the competitive landscape. The rivalry between the two has become increasingly intense, reflecting that the DEX sector is transitioning from a single-oligarch dominance to a more diversified competition stage.

From the data, this growth momentum is quite fierce. User demand for decentralized derivatives trading far exceeds expectations, and various platforms are accelerating their feature iterations and user experience improvements. There is still great potential for imagination in this niche field.

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NftMetaversePainter

· 9h ago

ngl the whole 7.9T thing is wild but like... hyperiquid's dominance cracking this fast? that's what happens when you sleep on ux, the algorithm always punishes complacency fr fr

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TokenomicsShaman

· 9h ago

7.9 trillion? Damn, Hyperliquid's oligarch position is really unstable, and Aster is coming in quite aggressively.

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ChainProspector

· 9h ago

7.9 trillion? No way, is this number real? It feels like Hyper is about to be overtaken by Aster.

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ImpermanentPhobia

· 9h ago

Ha, 7.9 trillion? That number is a bit outrageous, is it real? Hyperliquid being eaten by Aster, finally someone is challenging it, good news. The perpetual sector is really crazy, it feels like everyone is on leverage. By the way, how does Aster compete for market share? Is it because of lower fees or what? This round of competition has just started, how many new players will join later? DEX derivatives are just printing money, I always lose... Intense competition is understandable, but I'm worried it will just be a flash in the pan—burning money and subsidizing until it's gone.

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¯\_(ツ)_/¯

· 10h ago

7.9 trillion? Wow, the growth rate is really outrageous, it feels like the entire industry is in crazy competition. Hyperliquid has been acquired by Aster, finally someone dares to challenge the oligopoly. There is definitely room for imagination in the DEX derivatives sector, but with such fierce competition, it's hard to say who will ultimately survive. This number seems somewhat inflated, right? 65% of the total historical volume, need to see how it's calculated specifically. Wait, are perpetual contracts really that powerful? It seems like the risks are also terrifyingly high.

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ChainBrain

· 10h ago

7.9 trillion? Wow, that's an incredible number. Are derivatives really that popular now? Hyperliquid is causing a stir with Aster, it seems the era of oligopolies is truly over. The DEX track is no longer dominated by a single player, which makes it more interesting.

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