According to @CoinMarketCap, 2025 marked a breakout year for perpetual DEXs, with a comparison chart underscoring the narrative’s strength across Hyperliquid, Aster, Lighter, and edgeX (source: @CoinMarketCap, X, Dec 8, 2025). The post states these platforms differentiate by infrastructure, liquidity mechanisms, and product offerings while converging on explosive market traction (source: @CoinMarketCap, X, Dec 8, 2025). For traders, this identifies on-chain perpetual DEXs as a leading 2025 narrative to prioritize, as highlighted by the shared comparison (source: @CoinMarketCap, X, Dec 8, 2025).