According to dYdX Foundation, on-chain crypto derivatives are now clearing approximately $1 trillion per month, highlighting a sharp expansion in decentralized derivatives activity; source: dYdX Foundation on X, Dec 29, 2025. According to dYdX Foundation, its December 2025 dYdX Analyst Call provides a snapshot of how quickly this market is maturing; source: dYdX Foundation on X, Dec 29, 2025. According to dYdX Foundation, on-chain derivatives are no longer early, reflecting ongoing market maturation; source: dYdX Foundation on X, Dec 29, 2025.