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Perp DEX Trading Volume Surpasses $1 Trillion Milestone in September

Perp DEX Trading Volume Surpasses $1 Trillion Milestone in September

According to The Block, perpetual decentralized exchanges collectively exceeded $1 trillion in trading volume in September, marking a significant milestone in DeFi market activity.

Fact Check
The statement is strongly supported by multiple sources. Evidence from Phemex (Source 1) and X (Sources 6, 11) explicitly states that the cumulative trading volume for perpetual DEXs surpassed the $1 trillion milestone by late September. This claim is further bolstered by a Bitcoin.com report (Source 7) noting nearly $1 trillion in trades within a 30-day period and several other sources (4, 10, 14, 15) confirming record-breaking daily volumes exceeding $67 billion in late September. While some sources contain apparent typographical errors listing the year as 2025, the consistency and recency of the reports across different platforms corroborate that the milestone was reached.
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Summary

Perpetual decentralized exchanges (Perp DEXs) recorded over $1 trillion in trading volume for the first time in September, according to data from The Block. This milestone highlights continued growth in decentralized derivatives trading and increasing participation in DeFi markets.

Terms & Concepts
  • Perpetual Decentralized Exchange (Perp DEX): A decentralized platform that enables trading of perpetual futures contracts without expiry, providing continuous leveraged exposure to crypto assets.
  • DeFi (Decentralized Finance): A blockchain-based financial ecosystem allowing users to trade, lend, or borrow without intermediaries like banks.