According to @lookonchain, SunPerp has surpassed $1.35B in total trading volume since its Sept 19 launch and has onboarded 14,315 users, highlighting rapid adoption of its DEX perpetuals venue; source: Lookonchain X post https://twitter.com/lookonchain/status/1975926550987219232. Based on the same figures, the implied volume per onboarded user is approximately $94,000, an analytical ratio derived from the Lookonchain data that traders can use to gauge venue activity intensity; source: calculation based on Lookonchain X post https://twitter.com/lookonchain/status/1975926550987219232. The official site listed for platform access and further market-level details is https://www.sunperp.com; source: Lookonchain X post https://twitter.com/lookonchain/status/1975926550987219232 and SunPerp site https://www.sunperp.com.

According to @lookonchain, SunPerp DEX on Tron recorded $444.38M in weekly trading volume last week, a 27.24% week-over-week increase, as reflected by the SunPerp perp volume view on DefiLlama. source: @lookonchain; DefiLlama This reported uptick marks higher turnover on Tron-based on-chain derivatives during the latest week and is relevant for traders tracking venue volume and market depth across the TRX ecosystem. source: @lookonchain; DefiLlama

According to @DecryptMedia, Aster is a perpetual futures decentralized exchange that has recently attracted increased user attention, with coverage examining what the platform is and how it works, source: @DecryptMedia. The source highlights potential future airdrops related to Aster but does not confirm any details, timelines, or eligibility criteria, source: @DecryptMedia. Traders interested in potential rewards should monitor the official information referenced by the source to avoid acting on unverified rumors, source: @DecryptMedia.

According to the source, Hyperliquid is an order-book perpetual futures DEX built on the Hyperliquid Chain that executes trades via a central limit order book to provide low-latency matching for professional traders, source: Hyperliquid Docs. The platform supports cross and isolated margin with portfolio risk limits that define initial and maintenance margin requirements and collateral valuation for USD-margined positions, source: Hyperliquid Docs. Funding payments periodically flow between longs and shorts based on a mark price derived from an external index to keep perp prices anchored to spot, source: Hyperliquid Docs. Liquidations are triggered when maintenance margin is breached, with positions closed in stages and losses backstopped by an insurance fund to reduce socialized loss risk, source: Hyperliquid Docs. Fees follow a maker-taker schedule and the UI displays real-time funding and fee estimates so traders can model carry and execution costs, source: Hyperliquid Docs. Hyperliquid lists deep-liquidity markets such as BTC and ETH perpetuals, and independent dashboards ranked it among the top decentralized perps venues by 24h volume and open interest in 2024, which is relevant for slippage-sensitive order execution, source: Hyperliquid Markets page and DefiLlama derivatives dashboard.

According to the source, Aster led perpetual DEXs with USD 35.9B in 24-hour trading volume, indicating a notable short-term liquidity surge for derivatives traders. Source: the source. Elevated trading volume is associated with deeper liquidity and tighter spreads, which can reduce slippage and improve execution quality for active strategies. Sources: CME Group Education; Nasdaq Market Microstructure. High turnover on perpetual contracts often coincides with larger funding-rate deviations from neutral, presenting carry opportunities when rates persistently skew positive or negative. Source: Binance Academy (Funding Rates Overview). For risk control during high-volume sessions, traders commonly monitor funding rates, open interest changes, and top-traded pairs before sizing positions and setting stops. Sources: Binance Academy (Risk Management); CME Group Education.

According to @lookonchain, Machi began trading on Hyperliquid in May and lifted realized profits to over 42.6 million dollars within four months, source: Lookonchain on X and hyperdash.info. Lookonchain reports that about 30 million dollars of that profit was erased in the last six days, reducing total realized PnL to 11.6 million dollars, source: Lookonchain on X and hyperdash.info. The post does not specify which pairs were traded and references the linked HyperDash trader profile for the PnL path, source: Lookonchain on X and hyperdash.info. For traders, the rapid drawdown highlights how quickly realized PnL can reverse on Hyperliquid based on the same on-chain trading dashboard data, source: Lookonchain on X and hyperdash.info.

According to @ranyi1115, Orderly has powered 58 live perpetual DEXs since 2023 as of Sep 20, 2025, indicating rapid adoption of its derivatives infrastructure and a growing venue count for perpetual futures trading, source: @ranyi1115 on X, Sep 20, 2025. For traders, a larger network of Orderly-powered venues can expand cross-venue arbitrage paths while requiring tighter monitoring of funding rate dispersion, fee schedules, and slippage across these DEXs to optimize execution quality, source: @ranyi1115 on X, Sep 20, 2025. The emphasis on fast spin-up suggests quicker launch cycles for new perp markets on Orderly-powered exchanges, which can shift intraday liquidity and volume distribution and reward proactive venue routing and market data surveillance, source: @ranyi1115 on X, Sep 20, 2025.

According to @cookiedotfun, Cookie DAO announced over $4.45M in live rewards across Cookie Snaps and ACM campaigns. Source: Cookie DAO on X, Sep 12, 2025. The ACM campaigns include Almanak with a $550,000+ reward pool, Tria with a $650,000 reward pool, and LAB Trade with a $350,000+ reward pool, as stated. Source: Cookie DAO on X, Sep 12, 2025. Additional live campaigns listed are RecallNet with a $350,000+ reward pool, Vooi with a $350,000+ reward pool, Velora DEX with a $350,000 reward pool, TEN Protocol (TEE-native execution layer for Ethereum) with a $450,000 reward pool, Rayls Labs (L1 for banks tokenizing the $300T global credit market) with a $700,000 reward pool, Build on BOB (gateway to Bitcoin DeFi for earning with BTC) with a $350,000 reward pool, and Antix (hyper-realistic digital humans for creators) with a $350,000 reward pool. Source: Cookie DAO on X, Sep 12, 2025. The campaigns span AI agents for financial strategy, onchain payments and Web3 neo banking rails, multi-chain trading with low fees, onchain intelligence networks, derivatives marketplaces for perpetual and spot trading, cross-chain gasless MEV-protected routing, an ETH execution layer using TEE, and BTC DeFi, as described. Source: Cookie DAO on X, Sep 12, 2025.

According to @dydxfoundation, the dYdX community has voted to approve the v9.0 software upgrade, with the vote reported as passed on September 1, 2025, source: dYdX Foundation on X. This confirmed governance outcome is a key event marker for DYDX market participants tracking protocol changes, source: dYdX Foundation on X.

According to @peterhch, more crypto wallets are likely to integrate Hyperliquid’s perpetual futures DEX to monetize their existing user bases, citing Phantom Wallet’s revenue results from its Hyperliquid integration as the driver (source: @peterhch on X, Aug 28, 2025). For traders, the immediate watchpoints are new in-wallet perp launches, fee-sharing disclosures, and shifts in Hyperliquid perp market activity that could signal redirected order flow and liquidity concentration (source: @peterhch on X, Aug 28, 2025). Any confirmed wallet integrations would serve as near-term catalysts for Hyperliquid’s perps depth, spreads, and funding dynamics across listed markets (source: @peterhch on X, Aug 28, 2025).