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Impact of Perpetual DEX on Decentralized Finance in 2024

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by Giorgi Kostiuk

22 days ago


CoinGecko's 2024 report reveals impressive data on the rapid growth of perpetual DEXs. This article explores what perpetual trading is, its benefits and the current market situation.

What is Perpetual Trading?

Perpetual trading is based on perpetual futures contracts allowing traders to trade assets like Bitcoin or Ethereum without owning them. Unlike regular futures, these contracts have no expiration date. Its popularity has increased due to high liquidity and leverage, which boosts potential profits but also carries risks.

Benefits of Perpetual Trading

A key advantage of perpetual trading is the lack of contract expiration, allowing traders to hold positions indefinitely. The funding rate mechanism aligns the futures price with the underlying asset price, and leverage allows traders to operate larger positions with less capital, albeit with careful risk management required to avoid liquidation.

State of Perpetual DEXs in 2024

In 2024, the growth of perpetual DEXs is notable. CoinGecko reports a trading volume of $1.5 trillion for the top 10 perpetual DEXs, marking a 138% increase over the previous year. This rise is also reflected in open interest peaking at $6.7 billion in December. This growth is attributed to the greater user control and security offered by decentralized platforms compared to centralized exchanges.

Perpetual DEXs are becoming integral to the decentralized financial ecosystem, setting new standards for security and transparency. The rapid increase in trading volumes and open interest demonstrates that perpetual trading is the future of crypto trading.

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