October 2025 marked a turning point for decentralized finance — Perp-DEX trading volume exceeded $1.3 trillion, nearly doubling September’s numbers.
For the first time, decentralized perpetual futures outpaced some centralized segments in efficiency, scale, and growth.
The surge wasn’t random. Incentive programs, point-based airdrops, and volatility-driven liquidations amplified participation across leading DEXs like Hyperliquid, Aster, and ApeX, while newcomers like Liquid — backed by Paradigm — introduced aggregation layers that made advanced trading accessible to retail users.
What’s even more interesting is how CeFi and DeFi are converging.
Exchanges like WhiteBIT, powered by $WBT, are expanding their market-making infrastructure and futures ecosystem, combining institutional-grade liquidity with DeFi-native execution. This hybrid model bridges traditional capital and on-chain markets — making liquidity not just deeper, but smarter.
As the industry matures, perpetual DEXs are no longer experiments — they’re the stress test for real financial infrastructure.
The next phase of crypto’s evolution won’t be a DeFi vs. CeFi battle — it’ll be a merge of both, forming the liquidity backbone of Web3.
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