Perp DEXs Hit $1 Trillion Monthly Volume for First Time as Aster, Hyperliquid Lead Surge

Core Insights - Perpetual DEXs have achieved a record trading volume of $1.226 trillion over the past 30 days, marking a 48% increase from August's $707.6 billion volume [1] - Aster DEX has emerged as the leader in this sector, accounting for nearly 50% of the market share with a volume of $493.61 billion [2] - Hyperliquid follows closely, generating over $280 billion in trading volume during the same period [2] Trading Volume Performance - Aster DEX leads the market with $493.61 billion in trading volume, representing a significant portion of the perp DEX market [2] - Hyperliquid has also shown strong performance with over $280 billion in trading volume [2] - Other notable platforms include Lighter DEX with over $165 billion and a combination of EdgeX, Pacifica, and Apex Protocol generating $116 billion [3] Market Dynamics - The rapid growth of the perpetual DEX market indicates a shift from centralized exchanges (CEXs) to decentralized alternatives, driven by factors such as transparent settlement and non-custodial trading [4] - Lighter DEX, operating in private beta, has attracted $164.4 billion in September, securing third place in trading volume [4] Fee Generation - Aster DEX has generated over $121 million in fees, surpassing Circle by over $65 million and closely competing with Tether, which generated $155.2 million [6] - Hyperliquid ranks as the 5th highest revenue-generating protocol in the crypto market, with over $23 million in fees generated in the last week [6] Company Background - Aster, formerly known as APX Finance, rebranded in March after merging with Astherus and is backed by YZi Labs [7]