PERP DEXS SMASH $1T MONTHLY VOLUME

Summary from the TLDR Crypto newsletter

Perpetual trading protocols crossed $1.05T in September volume, up 48% from August, marking the first time the sector has hit the trillion-dollar mark. Aster, newly rebranded and backed by CZ, had $420B in activity, overtaking long-time leader Hyperliquid at $282.5B, while Ethereum L2-based Lighter followed with $164.4B in private beta. With Lighter's mainnet now live and Aster's rapid token-fueled momentum, competition in the perp DEX market is heating up quickly.