Core Insights - Justin Sun's HTX has launched SunPerp, a decentralized perpetual exchange, to compete with existing platforms like Binance's Aster and Hyperliquid [1][6] - The launch of SunPerp represents a strategic expansion of the TRON ecosystem, addressing the need for native on-chain derivatives trading [1][3] Launch Details - SunPerp officially launched on October 1 during the Token 2049 event after a public beta phase that began on September 19 [2] - By September 21, SunPerp had onboarded over 3,000 users, with daily trading volumes reaching $30 million by Day 6 of the beta [2] Technical Features - Built on the TRON blockchain, SunPerp benefits from low network costs, high throughput (up to 2,000 TPS), and a significant share of USDT circulation (over 50% of the global supply) [3] - The platform offers up to 20x leverage in both cross and isolated margin settings, supporting over 31 trading pairs, including popular memecoins and blue-chip assets like Bitcoin [3] Market Context - Decentralized perpetual exchanges (perp DEXs) have seen significant growth, capturing a larger share of the cryptocurrency derivatives market, with expectations to account for 25% of the market share by 2025 [4][6] - Centralized exchanges like Binance and OKX still dominate the market, with Binance recording $50 billion in daily derivative volumes and OKX at $30 billion [7]

Volume Analysis - 24H Perps Volume on BSC is $67348150280, approximately $67348.15 million [1]

Perpetual futures decentralized exchange Aster has caught the attention of users, but what exactly is it? And what's up with potential future airdrops? https://t.co/px8VW3B7hk ...

For the past year, Hyperlquid has dominated onchain derivatives trading. Nobody had come close to touching their market share or technology. But recently, one of the biggest names in crypto has been tweeting about Aster like it's the second coming of DeFi with billions behind it and some truly unhinged features.Could Aster therefore threaten Hyperlid's reign. Today we find out. My name is Guy and you're watching the Coin Bureau.First things first, none of this is financial advice. It's just educational cont ...

DEX perp wars ...

Heard on the Street: Traders seeking rapid returns have made "perps"—perpetual futures—popular https://t.co/cxqQwHM8xr ...

Core Insights - Aster, a decentralized exchange on the Binance Smart Chain, has seen a significant price increase of 47%, reaching an all-time high of $2.12 [1] - Predictors on Myriad estimate a 45% chance that Aster's price will hit $4 by the end of October, nearly doubling its current price of $2.06 [1] Revenue and Market Position - Aster generated $4.58 million in daily revenue, surpassing its main competitor Hyperliquid, which generated $2.82 million [2] - Despite higher revenue, Aster's daily trading volume is $558.95 million, lower than Hyperliquid's $783.52 million [2] Company Background - Aster specializes in perpetual futures and is backed by Binance founder Changpeng "CZ" Zhao's investment firm YZi Labs [3] - Aster is positioned as a competitor to Hyperliquid, another decentralized exchange focusing on perpetual futures [3] Market Dynamics - Hyperliquid gained attention after a $1.6 billion airdrop in 2024, leading to significant leveraged trading activity [4] - Hyperliquid's HYPE token has a market cap of $12.6 billion, making it the 18th largest cryptocurrency, while Aster's market cap is approximately $3.5 billion, ranking it 50th [4] - Predictors on Myriad have shifted their outlook, now believing HYPE is more likely to reach $39 before $69, with a probability of 61% [5]

Perps? ...

🐋 UPDATE: 6 perps worth $101M are bleeding.PnL: - $2.91M overall.Biggest losers: $ASTER (-$1.74M), $BTC (-$1.09M).Only green: $DOGE (+$307K) + $ETH (+$64K).The whale is still holding tight. https://t.co/NiqoDPUSEQ ...

🐋 HUGE: A whale opened 6 perps currently valued at $101M.The current PnL is -$2.6M where most of the positions are short. https://t.co/5OMwu3bVAv ...