2025-12-31 11:27:04

The perpetual derivatives market on decentralized exchanges has experienced explosive growth throughout 2025. Trading volumes on perpetual DEXs have surged dramatically, hitting approximately $12.09 trillion over the full year—a staggering threefold increase from the $4.1 trillion recorded at the start of 2025.

This remarkable acceleration reflects growing adoption of decentralized perpetual trading platforms among retail and institutional traders. The surge underscores shifting market dynamics, with more participants turning to DEX-based derivatives for leverage trading opportunities. Such momentum signals strengthening demand for non-custodial trading solutions and the maturation of perpetual DEX infrastructure.

The scale of this growth demonstrates that decentralized derivatives are no longer a niche segment—they've become a significant pillar of the broader crypto trading ecosystem.

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DYORMaster

· 5h ago

Damn, triple growth, is it real or not? 12 trillion, how many people must be liquidated with this number? Perpetuals on DEX have already taken off, but I still think the risk is a bit high. A threefold increase isn't surprising; just look at the price surge to understand. If perpetual contracts on DEX truly become mainstream, the days of custodial exchanges will be tough. By the way, how much of this growth is from actual trading, and how much is funds repeatedly washing through... Non-custodial is indeed the trend, but user experience still isn't as smooth as centralized exchanges. It feels like now everything dares to do perpetuals on DEX, and the quality varies greatly.

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ProposalManiac

· 5h ago

A threefold increase sounds great, but the problem is—out of the 12 trillion in trading volume, how much is genuine demand, and how much is funds engaging in arbitrage and leverage games? If the mechanism design doesn't keep up, the next black swan will be painful.

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FOMOSapien

· 5h ago

Wow... triple growth? Those numbers are a bit scary, it feels like a new round of rug pulls is starting again. DEX perpetual contracts are really taking off, but I'm still worried about the risk of small platforms running away. 12 trillion? Sounds impressive, but whether you can actually withdraw funds is another matter. This wave is definitely driven by institutions taking over, retail investors are still dreaming of getting rich quick. Perpetual contracts are becoming more competitive, leverage is getting higher, and liquidations are happening faster... Non-custodial sounds great, but when something goes wrong, no one will compensate you. This triple growth might not be good news after all; the bubble feeling is getting stronger. The rise of DEXs is real, but their risk control is really lacking.

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FundingMartyr

· 5h ago

Three times growth? Is this real? It feels like all the major exchanges are just talking big. --- Wow, 12 trillion? Why do I feel like I'm playing a fake DEX? --- It's the same story of institutional entry; retail investors are still the ones getting chopped up. --- Non-custodial is good, but I'm just worried about being hacked again. --- Are DEX derivatives becoming the backbone? Then what about my liquidation orders, friends? --- Digital sounds impressive, but how many people are actually making money? --- Perpetual contracts finally turned around, although I've already gone bankrupt. --- Growth has increased, but more people are killed by leverage, right? --- Non-custodial ≠ safe, don't get it mixed up, everyone. --- Three times? Then where did my principal go?

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NewDAOdreamer

· 5h ago

Ha, triple growth? These numbers are incredible. It feels like DEX perpetuals are really taking off. Wow, 12 trillion. How many liquidations would it take to absorb that? Institutions are getting involved. Do retail investors still have a chance... The maturity of perpetual DEXs is a good thing, right? But who will manage the risks? Non-custodial sounds appealing, but I still think it's a bit risky. Can this growth rate continue? I always feel there's a bubble. 12 trillion, huh. Where's my principal?

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GasFeeCrier

· 5h ago

Wow, triple growth! This number is a bit outrageous... Institutional entry really changes the game.

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