
Perpetual contract decentralized exchanges hit a milestone of $1.05 trillion in September, with Aster leading the charge as BNB Chain’s market share expanded despite concerns over wash trading.
Perpetual contract decentralized exchanges (Perp DEX) saw a record $1.05 trillion in trading volume in September 2025, a 48% rise from August. Aster led with $420 billion, surpassing Hyperliquid at $282.5 billion. Lighter ranked third with $164.4 billion. Aster’s surge fueled the growth of BNB Chain’s perpetual DEX market amid ongoing concerns about potential wash trading.