⚡️RESEARCH: Perp DEXs are shifting from alternative platforms to core market infrastructure in 2025. Trading volume, users and TVL have hit record highs, with monthly activity now exceeding 1T. Growth is being driven by easier onboarding and increasing demand for self-custody across Asia, particularly among Chinese-speaking traders. Perpetual DEXs are no longer just functional; they are becoming infrastructure grade. The next stage of competition will hinge on liquidity depth, institutional readiness and crosschain accessibility. Platforms like SunPerp, combining low fees, USDT liquidity and HTX connectivity, could secure structural market share if they deliver on expansion, incentives and buyback-driven token value. The question is no longer if DEXs can rival CEXs, but how soon they become the default venue for futures trading?(Cointelegraph)