According to @dydxfoundation, perpetual DEXs processed approximately USD 1.5 trillion in on-chain derivatives volume in H1 2025. Source: dYdX Foundation on X, Aug 25, 2025. At the current run rate, full-year 2025 activity could roughly double 2024’s record high of USD 3.2 to 3.5 trillion. Source: dYdX Foundation on X, Aug 25, 2025. The foundation notes the surge is less about macro beta. Source: dYdX Foundation on X, Aug 25, 2025. For traders, this signals materially higher on-chain derivatives activity to track across perpetual DEX venues in 2025. Source: dYdX Foundation on X, Aug 25, 2025.