As of 2025, we’ve compiled the top 5 Perp DEXs. These platforms stand out for their liquidity, speed, fees, and innovations. Let’s take a closer look at each one.

1. Aster DEX: Multi-Chain Perpetual Powerhouse

Aster DEX is an innovative Perp DEX born from the 2024 merger of Astherus and APX Finance. It offers deep on-chain liquidity and one-click trading, equipped with advanced tools for professional traders. It operates in two modes: a low-fee full order book Pro Mode and an MEV-resistant 1001x mode.

Supporting Ethereum, BNB Chain, Solana, and Arbitrum, it features spot fees of 0.10% maker/0.04% taker and perpetuals at 0.035% maker/0.01% taker. Spot trading offers 8+ pairs, while perpetuals provide 93+ contracts (crypto, forex, stocks) with up to 100x leverage. The high-leverage 1001x mode offers 1000x for BTC/ETH but carries rapid liquidation risks, so risk management is crucial.

Backed by YZi Labs and PancakeSwap, Aster has reached a $1.11 billion trading volume, rivaling Hyperliquid, and gained attention from CZ. Multi-chain access and low costs simplify perp trading.

Click here to open an Aster DEX account at a discount and benefit from the opportunities.

2. Hyperliquid: High-Performance L1 Perp Leader

Hyperliquid is a decentralized L1 blockchain optimized for futures and spot trading. It delivers the speed and depth of traditional exchanges on-chain, powered by the HyperCore order book engine, processing 200,000 orders per second, with instant finality via HyperBFT consensus.

Using USDC as collateral, it offers 100+ perpetual and spot trades; its “hyperps” products are resistant to price manipulation. It democratizes financial markets, blending CEX speed with DeFi transparency. One of the largest open-source Solana Perp DEXs, since 2021, it has grown to $350 million TVL, 175,000 traders, and over $20 billion in cumulative volume.

Click here to sign up for the Hyperliquid platform!

3. EdgeX: zk-Powered Derivatives Giant

EdgeX is a decentralized derivatives platform offering CEX-level speed and depth. Users retain assets in their wallets; powered by StarkWare’s zk technology, it processes up to 200,000 orders per second with low latency and high throughput.

Supported by Amber Group, it enables cross-chain transactions across 70+ blockchains; spot and perpetual trading, with tools like eStrategy Vault, cater to professionals. Features include: order-book-based derivatives, advanced order types, margin/liquidation/isolate/hedge modes, sub-account system, reverse positions, and trailing stop/profit.

Click here to open an EdgeX account and benefit from the discounted opportunities.

4. Bluefin: Sui-Based Spot and Derivatives Master

Bluefin is a decentralized spot and derivatives exchange on the Sui blockchain. It offers fast, low-cost, and secure transactions; the BLUE token supports fees, staking, and governance. It enables spot and derivatives trading via smart contracts.

Leveraging Sui’s high speed and low fees, it supports wallets like Suiet, Martian, Stashed, Nightly, and Surf. Google account integration (via ZK technology) eliminates private key management, enabling seamless cross-device connectivity with the same account.

5. Drift: Solana’s Powerful Perp DEX Player

Drift Protocol is a DEX on Solana designed for spot and perpetual markets. It offers low slippage, minimal fees, and transparency for a secure trading environment; advanced features like leverage trading and a cross-margin risk engine suit various strategies.

It addresses traditional on-chain exchange shortcomings, ensuring efficiency, liquidity, and accessibility. One of Solana’s largest open-source perpetual futures DEXs, since 2021, it has $350 million TVL, over 175,000 traders, and $20 billion in cumulative volume.

Liquidity Mechanisms: JIT Auction Liquidity (short-term auctions for liquidity), Limit Orderbook Liquidity (DLOB for continuous liquidity), AMM Liquidity (virtual AMM for backup).

Main Products: Spot Trading with Margin (direct buy-sell, leveraged), Perpetual Trading (futures swaps for speculation), Borrow Lend (interest-based lending), BAL (backstop AMM liquidity boosting sqrtK).

Click here to register for Draft with a discount.

Perp DEX Trend

The top 5 Perp DEXs – Aster DEX, Hyperliquid, EdgeX, Bluefin, and Drift – are redefining on-chain trading. With deep liquidity, low fees, and high leverage, they cater to professionals; multi-chain support and innovative modes enhance accessibility. In crypto trading, Perp DEXs reduce CEX risks while offering DeFi opportunities. Your choice depends on your strategy and preferred chain – don’t forget to do your research!

Our Stock Exchange User Guides

1. Aster DEX
2. Hyperliquid
3. EdgeX
4. Bluefin
5. Drift

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Hyperliquid Maintains Leadership in the Perpetual Futures DEX Market

Throughout July, Hyperliquid continued to dominate the perpetual futures (perps) decentralized exchange (DEX) space, consistently holding a market share of over 75%. This solid performance reinforces the platform’s position as a volume leader among on-chain derivatives trading platforms.

The Hyperliquid/Binance ratio — which measures the trading volume of perps on Hyperliquid relative to Binance — reached a new peak of 11.89% in July. For context, Binance reported roughly $2.59 trillion in perps volume during the same period, a 35% increase from the previous month.

Drift Sees Notable Surge in Volume

Meanwhile, Drift, a perps DEX built on the Solana blockchain, experienced a remarkable 336% month-over-month increase, reaching $14.8 billion in trading volume during July. This sharp rise can be largely attributed to Drift’s zero-fee campaign on its BTC-PERP market, launched at the end of June. The incentive successfully drove higher trading activity in the following weeks.

DEX vs. CEX Futures Volume Ratio Remains Flat

Despite Hyperliquid’s efforts to close the gap with Binance and Drift’s impressive growth, the overall ratio of decentralized to centralized futures trading volumes held steady in July. The DEX-to-CEX ratio slightly declined from 7.78% in June to 7.77% in July, signaling a plateau in the broader market shift.

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Sign Up for Binance with 20% Commission Discount!

Binance Alpha is a platform where Binance focuses on specific projects and encourages investor participation. The newly added $DRIFT, $B3, $FLUID, $VVV, $TOKEN, and $CPOOL tokens aim to increase trading volume and liquidity on the platform. This listing is expected to create new opportunities for investors and could lead to potential value increases.

New Opportunities for Investors!

The addition of these six tokens to Binance Alpha is generating excitement in the market and offering fresh opportunities for investors. Binance Alpha projects typically involve early-stage investments and offer high liquidity. With the new tokens, a growing market is likely to emerge. Investors are closely watching the price movements, anticipating potential value increases.

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With Bitcoin’s ATH (all-time high) in recent days, many coins have risen significantly in the cryptocurrency markets. Among these coins, the newly released DRIFT attracted attention with its rapid rise.

Especially after the news that it will be listed on the Upbit exchange, the coin, which experienced an increase of nearly 50%, increased up to 130% with the Binance futures listing yesterday. Before these developments, the DRIFT coin price was at $ 0.50, while the price rose up to $ 2.61 with a 130% increase. Investors are worried about a possible sharp pullback after this rise.

Will the DRIFT Rise Continue?

The most curious question for DRIFT coin, which makes its investors very happy, is whether the rise will continue. DRIFT coin, which rose as high as $ 2.61 during the day, is currently down to $ 1.71 with the retreat it experienced. Analysts consider the price levels that may come in possible corrections as the $ 1.27 and $ 0.90 band.

In addition, analysts emphasized that it is necessary to maintain levels above $ 2 for the rise to continue.

What is Drift Protocol?

Drift Protocol is a futures DEX platform that aims to bring on-chain cross-margined perpetual futures to Solana. For more detailed information about the project, you can read our related article.

SEC Postpones Ethereum ETF Options Again!

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Key Intraday Levels for Bitcoin

A rising wedge pattern is forming for Bitcoin (BTC), and the direction of the breakout is crucial. If the structure breaks downward, a correction may begin. Key support levels for Bitcoin are at 75,800 and 72,800.

Ethereum (ETH): The ETH/USDT pair has gained 4.26% in the last 24 hours and is currently trading at $3,027. Resistance levels for ETH are at $3,122 and then $3,380, while support levels are at $2,780 and $2,620 if the price falls below this zone.

Drift (DRIFT): The DRIFT/USDT pair has surged 88.32% in the last 24 hours and is now trading at $1.74. Resistance levels for DRIFT are at $1.98 and $2.1, with support zones at $1.45 and $1 if the decline deepens.

Wormhole (W): The W/USDT pair has gained 9.34% in the last 24 hours, trading at $0.257. Resistance levels are at $0.28 and $0.32, while support levels are at $0.245 and $0.21 in case of a further drop.

Sui (SUI): The SUI/USDT pair has gained 0.47% over the past 24 hours and is currently at $2.31. Resistance levels are $2.31 and $2.36, with support at $2.23 and $2.07 for deeper declines.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market are Drift Protocol (DRIFT), Swell (SWELL), and Grass (GRASS). The top gainers include Drift Protocol (DRIFT), PepeCoin (PEPECOIN), and Kamino (KMNO), while the biggest losers are Maple (MPL), ALEO (ALEO), and Moonwell (WELL).

Bitcoin Liquidation Map

Looking at the 12-hour liquidation map for Bitcoin, there is a notable liquidation level at $77,462 with $66.77 million at the upper side. On the lower side, $75,905 is highlighted with $66.77 million.

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Upbit is now supporting Drift (DRIFT), a new digital asset. Operating on the Solana blockchain, the DRIFT token combines the power of decentralized finance (DeFi) with the efficiency of centralized finance, offering users a fast and transparent trading experience.

You may also be interested in: Changpeng Zhao (CZ) is Considering Selling His Shares in Binance.

Upbit will begin trading Drift (DRIFT) at 04:00 AM on November 8. Supported trading pairs include Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). Since this digital asset can only be transferred via the Solana network, users are advised to verify network accuracy before initiating transactions.

Following the listing announcement, DRIFT coin’s price skyrocketed. Before the news, DRIFT was priced around $0.52, but it surged by 73%, reaching $0.95.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Token Airdrop and Governance Structure

Drift Protocol, a decentralized exchange (DEX) operating on Solana, has revealed plans to launch its governance token, DRIFT, alongside a massive airdrop for its users. This strategic move aims to empower the community by giving token holders a voice in critical decisions, such as token listings and software upgrades. The allocation of ten percent of DRIFT’s total supply to users underscores Drift’s commitment to decentralizing its operations and fostering a sense of ownership among its stakeholders.

Venture Backing and Token Distribution

While users are set to receive a significant portion of the airdropped tokens, venture backers, including prominent firms like Polychain Capital and Multicoin Capital, are poised to receive a substantial allocation. This distribution strategy reflects Drift’s dedication to fostering a diverse and robust ecosystem. With a sizable percentage earmarked for ecosystem development and protocol enhancements, Drift aims to incentivize participation and drive innovation within its platform.

Expanding the DeFi Landscape

Beyond its core offering of perpetuals trading with leveraged options, Drift Protocol is poised to become a comprehensive DeFi hub on the Solana blockchain. By hosting spot trading and a diverse array of financial instruments, including exotic options, Drift caters to both risk averse and adventurous investors alike. Despite recent market movements, Drift’s commitment to risk management emphasizes its potential as a cornerstone of decentralized finance.

In conclusion, Drift Protocol’s ambitious airdrop initiative marks a significant milestone in its quest for decentralization and community-driven governance. With MetaDAO emerging as an unexpected beneficiary, the DeFi landscape on Solana is poised for further innovation and growth under Drift’s stewardship.

The post Drift Protocol Announces 100 Million Token Airdrop appeared first on Coin Engineer.

Improved User Experience and Cheaper Transactions Drive SOL’s Rise

Some analysts are weighing the possibility of Solana’s network overtaking its competitor Ethereum, considering it offers cheaper and faster transactions. According to trader Evnass6, Solana’s performance provides a better user experience than Ethereum’s.

Several factors, including increased network activity and the launch of the SPL token, are contributing to the price increase. However, a more comprehensive analysis is needed to determine whether the current valuation is correct and whether there will be a rise above 100 dollars.

Airdrop Madness and Success of Jito Support SOL Price

The current rise in SOL price is backed by the airdrop mania that resulted in Solana’s Saga phone being completely sold out and trading at high prices on secondary markets.

Solana captured attention when major centralized exchanges listed the SPL token, JITO, inspired by Ethereum’s Lido’s liquid staking protocol, on December 7. Jito’s airdrop generated impressive profits for participants, and in the first few hours following the transaction, its market value surpassed $300 million. Successful listings on Coinbase and Binance also increased the demand for other airdrops and token launches on the Solana network.

A turning point occurred with the listing of the memecoin BONK on Coinbase on December 14, along with Solana’s Saga phone. Each phone bought approximately 30 million BONK.

DApp Activity Also Supports Solana (SOL) ‘s Rise

As evidenced by the growth of Solana’s network in terms of DApps, SOL’s rise extends beyond current memecoins. Just three weeks ago, on November 29, Solana’s TVL (total value locked) was only $654 million, representing a market share of just 1.4%. According to DefiLlama, this data has now increased by 96% to $1.28 billion.

Increasing activity in DApps accompanied deposit increases on the Solana network. It’s worth noting that the network’s volume increase outperformed its top competitors. Similarly, the number of unique active addresses interacting with Solana’s DApps impressively increased to 875,250, while most competing blockchains experienced a decrease during the same seven-day period.

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The recent activity increase on Solana could arguably be due to the anticipation of several upcoming airdrops and token launches, including but not limited to Bonkwifhat (BIF), Ribbit (RBT), Jupiter (JUP), Meow Coin (MEOW), Phantom, Kamino, Drift, and others. Moreover, the Solana network is consolidating its position by attracting more user participation, increasing its TVL, and attracting promising projects that could further strengthen its presence in the DApp industry.

Popular Wallet and Research Reports Support SOL

Popular hardware wallet provider Trezor announced its support for Solana and SPL tokens on December 20. Also on the same day, Binance Research released a bullish report on parallel computing, improving blockchain efficiency by “using computing resources more effectively”. The report specifically mentioned Solana as an example of parallel computing.

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