Community members questioned whether the surge in trading volume reflects market conviction or aggressive incentive farming.
Perpetual trading volumes on decentralized exchanges (DEXs) surged to an all-time high of $70 billion on Thursday, driven by Aster, a newly-launched derivatives platform on BNB Chain.
Perpetual DEXs surged to record volumes for three consecutive days as decentralized perpetuals activity heated up. On Tuesday, the overall volume for perp DEXs hit $52 billion, followed by $67 billion on Wednesday.
The volume topped $70 billion on Thursday, highlighting renewed momentum in the decentralized finance (DeFi) derivatives markets.