Perpetual DEXes hit $1.14 trillion in trading last month, led by surging volumes on Aster, whose token has rallied amid speculation of a Binance listing.
Posted October 3, 2025 at 9:45 am EST.
September was a milestone month for perpetual decentralized exchanges (DEXes) as monthly trading volume surpassed $1 trillion for the first time in history.
Data from DeFiLlama shows that perpetual DEXes recorded $1.14 trillion in trading volume, marking a 50% increase from the month prior, led by Hyperliquid and its fast-growing rival Aster.
In the last week alone, Aster recorded $415 billion in perpetual volume, eclipsing Hyperliquid’s $70 billion in the same period.
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The BNB Chain-based app is backed by Binance founder Changpeng Zhao’s family office YZi Labs. Its native token ASTER has rallied 2,000% in two weeks and 11% in the last day amid speculation that Binance would soon list the token for spot trading.
Blockchain data shows that Binance spot wallets had begun testing deposits of ASTER.
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