Perpetual contracts on the rise: Lighter and Aster challenge dominance in 2025

OnChainSleuth · 2026-01-13T10:05:39+00:00

The cryptocurrency derivatives market is rapidly evolving with the emergence of new players like Lighter and Aster. This growth, reflected in a threefold increase in trading volume, highlights greater diversification and competition that improve conditions for traders.

OnChainSleuth

2026-01-13 10:05:39

Abstract generation in progress

The cryptocurrency derivatives market is undergoing a dramatic transformation. What was once almost exclusively dominated by Hyperliquid is now diversifying with the emergence of new competitive players. Lighter and Aster have positioned themselves as significant forces in the derivatives trading ecosystem, significantly altering the sector’s dynamics.

The exponential growth of volume

The numbers are compelling: trading volume in perpetual contracts has tripled this year, according to CryptoRank reports. This growth reflects not only numerical expansion but a profound change in how market participants understand and execute their investment strategies.

Why the market is diversifying

This dispersion of leadership is not accidental. Traders are seeking alternatives that offer greater operational flexibility, better hedging instruments, and more competitive trading conditions. The emergence of Lighter and Aster precisely responds to these unmet demands, providing options that complement or challenge the existing perpetual contracts ecosystem.

A market in motion

The current landscape of derivatives trading reflects the sector’s maturation. Competition among perpetual contract platforms drives improvements in services, liquidity, and user experience, ultimately benefiting all participants in the cryptocurrency market.

LIT5,26%

ASTER1,43%

HYPE4,72%

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