Tokens from emerging perpetual trading decentralized exchanges posted substantial gains over the past week while established platforms declined, suggesting capital rotation within the derivatives trading sector.
Meanwhile, ASTER registered an even stronger performance, jumping 146% from $0.5623 to $1.39 over the same period.
The token peaked at $1.96 on Sept. 21, representing a 250% gain since its Sept. 18 launch. Aster TVL exploded 228% from $370.1 million to $1.21 billion between Sept. 14 and Sept. 22.
While newcomers gained momentum, tokens from established perpetual trading platforms declined over the same timeframe.
The divergent performance suggests that liquidity is rotating from incumbent protocols toward newer entrants as traders seek exposure to emerging platforms with growth potential.
The strong performance occurred despite the broader perpetual DEX market retracing from its Sept. 13 all-time high of $6.1 billion TVL to $5.1 billion as of Sept. 22.
The perpetual trading sector continues evolving rapidly as decentralized exchanges compete for market share through improved user experience, lower fees, and novel trading features.
However, it remains to be seen if Avantis and Aster will sustain their TVL numbers or if the capital will flow back to established platforms after the hype is gone.
