Season 1 · Episode 120
Perpetual DEX: The New Financial Infrastructure
Smarter Crypto Trading with Ave AI · Ave AI
November 24, 202514m 51s
Audio is streamed directly from the publisher (content.rss.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
During the deepest part of the crypto cycle, something unusual happened: on-chain perpetuals took off.
In October 2025, monthly on-chain perp volume exceeded $1 trillion, breaking all historical records in both YoY and MoM growth. Spot markets stagnated, CEX futures growth slowed, but platforms like Hyperliquid, ApeX, Orderly, and new L2-native engines quietly entered the “$100B cumulative volume club.”