Binance's Changpeng 'CZ' Zhao declares 'perp DEX era'

Changpeng “CZ” Zhao announced the “perp DEX era,” after multiple projects rushed to build their own versions of the permissionless ￰1￱ has spoken in support of Aster DEX, but has also encouraged other players to enter the space. Binance’s co-founder Changpeng Zhao announced the arrival of the “perp DEX” era in a recent message on ￰2￱ has been known to support the perpetual futures trading model on Binance, which faced competition from ￰3￱ quoted an older message on X, where he suggested perpetual futures DEX may also obscure their bets to avoid aggressive counter-trading. Whoa, now everyone wants to be Perp ￰4￱ players will grow the market size ￰5￱ tide lifts all ￰6￱ term, the best builders ￰7￱ Dex era! ￰0￱ — CZ 🔶 BNB (@cz_binance) September 24, 2025 While decentralized futures markets were tested in the past, it was the rise of Hyperliquid that brought the model to the ￰8￱ mix of a venue for high-profile whales, a valuable native token, and deep liquidity led other teams to copy the Hyperliquid ￰9￱ DEX apps are also assured to produce predictable fees.

ASTER, BNB go into price discovery The daily attention from Zhao has put both ASTER and BNB into price discovery ￰10￱ rallied to a new all-time peak above $2.37. The token gained another 22% for the past day, trading on record volumes above $2.9B. ASTER rallied to a new all-time peak above $2.37, as attention to perp DEX platforms accelerates each day. |) September 24, 2025 HYPE , the native token of Hyperliquid, took another downturn, sliding to $45. The token unraveled on a mix of shifting demand for Hyperliquid and the rush to the hotter ASTER ￰11￱ the same time, smaller or older perpetual DEX projects are not responding to the ￰12￱ leaders like GMX remained relatively ￰13￱ DEX from older DeFi market cycles were also unmoved and in the red.

Currently, perpetual DEX tokens are valued at $22B , as traders only flocked to the hottest ￰14￱ caused the perp DEX demand? Perpetual futures DEX followed the spread of on-chain trading culture, as regional limitations and KYC were preventing many traders from using centralized ￰15￱ already make more than 18.5% of volumes, and readily offer liquidity for new assets, which may take months or years for a centralized ￰16￱ DEXs also established their credibility as fee producers, in addition to having a strong native token with almost guaranteed long-term growth and revenue ￰17￱ value model and transparent tokenomics also filled demand for projects like Hyperliquid , which offered a clear path to revenue-sharing and no insider VC ￰18￱ DEXs are also non-custodial, calming the fears of a crash and lost assets, similar to the FTX ￰19￱ DEX tokens also replaced memes, bringing back the utility narrative and the creation of ￰20￱ new perpetual DEX are attracting whales, but they are also ￰21￱ addition to Hyperliquid and Aster, other active markets include Pacifica, EdgeX, Avantis, and ￰22￱ now, Hyperliquid remains the venue for high-profile whales, challenging the new markets to also attract high-value ￰23￱ you're reading this, you’re already ￰24￱ there with our newsletter .