Tokens from emerging perpetual trading decentralized exchanges have shown significant gains in the past week, signaling a potential shift in capital within the derivatives trading sector. Avantis and Aster have emerged as top performers among the newcomers, with their native tokens AVNT and ASTER experiencing substantial growth.
Avantis’ AVNT token has surged by 66% in the last seven days, reaching $2.05 from $1.25. The token hit a peak of $2.64 on Sept. 21, marking a remarkable 320% increase from its launch price of $0.4880. Additionally, Avantis’ total value locked (TVL) has grown by 27% to $22.6 million, as reported by DefiLlama data.
On the other hand, ASTER has seen an even more impressive performance, with its token price skyrocketing by 146% to $1.39 from $0.5623 in the same period. The token reached a high of $1.96 on Sept. 21, reflecting a 250% gain since its launch on Sept. 18. Aster’s TVL has surged by 228% to $1.21 billion, showcasing the platform’s rapid growth.
The surge in these new platforms may be attributed to high-profile endorsements, such as Binance founder Changpeng Zhao showing support for the decentralized exchange on social media. This has likely boosted confidence in the emerging protocols and attracted more traders to explore the potential opportunities they offer.
In contrast, established perpetual trading platforms like HYPE from Hyperliquid and JUP from Jupiter have experienced declines in token prices and TVLs. This divergence suggests that liquidity is shifting towards newer entrants in search of growth potential and innovation.
Despite the overall market retracement from its peak, the perpetual DEX sector continues to evolve rapidly as exchanges compete for market share by enhancing user experience, reducing fees, and introducing new trading features. It remains to be seen whether Avantis and Aster can sustain their growth or if capital will flow back to established platforms once the initial hype fades.
Overall, the dynamics in the perpetual trading sector highlight the importance of staying agile and adaptable in the rapidly changing landscape of decentralized finance. By keeping a close eye on emerging trends and opportunities, traders can position themselves strategically to capitalize on the evolving market dynamics.