New Perpetual DEX Protocols Avantis & Aster Surge Amid Market Pullback with B...
DeFi comes and goes, but the latest developments in the sector have surprised even experienced players. The perpetual DEX (decentralized exchange) sector has entered a cooling phase. Total value locked (TVL) declined from an all-time high of about $6.1B on September 13 to roughly $5.1 B by September 22. However, with gains of 600% and 2100%, respectively, two new entrants – Avantis ($AVNT) and Aster ($ASTER) – are quickly gaining traction, resisting the broader downturn with impressive increases in both token price and protocol adoption. Avantis: Rapid but Steady Growth Avantis’s native....
Related News
ASTER, the native token of the decentralized perpetual exchange Aster, officially launched last week and immediately made waves across the crypto market. Backed by Yzi Labs (formerly Binance Labs) and carrying the public endorsement of former Binance CEO Changpeng “CZ” Zhao, the token quickly drew massive attention from traders and investors. Related Reading: Tron Integration Marks Next Phase Of PayPal USD’s Multi-Chain Growth – Details Upon launch, ASTER surged to nearly $1.94, sparking excitement around its potential to rival leading decentralized derivatives platforms. However, the....
DeFi is a revolutionary concept in which traditional financial products and services can be operated without intermediaries like banks. The emergence of Uniswap created alternatives for traders to access liquidity, and since then there’s been an explosion of decentralized exchanges and quite a lot of decentralized perpetual swap protocols have been developed. However, data shows that although decentralized perpetual swap protocols should be seeing about $4.7B in trading volume based on Uniswap’s daily average, combined, […]
Aster’s native token, ASTER, surged 1,650% in its first 24 hours of trading and reached $0.528, according to platform reports. Related Reading: FalconX Moves 413K Solana Worth $98M – Impact On SOL Price Trading volume for the token in that window was listed at $345 million, and the launch reportedly drew 330,000 new wallets. Rapid User Growth And Liquidity According to on-chain data and platform disclosures, Aster’s total value locked jumped from $660 million to $1 billion shortly after launch. The platform claims total users of 1.848 million, with seven-day new user additions hitting....
PRESS RELEASE. YFX.COM is the world’s first decentralized cross-chain perpetual contract exchange. While other trading platforms that provide leverage alternatives exist, YFX.COM is trailblazing a decentralized alternative to centralized exchanges and perpetual futures trading without a central intermediary. YFX.COM does this by taking advantage of different protocols across the cryptocurrency landscape. Through a culmination of blockchain protocols YFX.COM is allowing traders to participate in trading BTC, ETH and other cryptocurrencies with up to 100x leverage. These cryptos are....
Newly launched DeFi derivatives platform Perpetual Protocol crosses open interest milestone in barely 24 hours. Perpetual Protocol, a new DeFi derivatives exchange, revealed that the platform had already crossed its $500,000 open interest (OI) cap for decentralized perpetual contracts. The announcement is coming less than 24 hours after the mainnet launch of the service on Wednesday.Following the achievement, the project has decided to double its OI limit to $1 million as well as the personal position cap for Bitcoin (BTC) and Ether (ETH) trading pairs. The limit was introduced to limit....