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Perpetual DEX platforms reporting $1.13 trillion in on-chain derivatives activity is staggering. Personally, I think it highlights how decentralized trading is becoming a serious competitor to traditional markets. What surprises me is the sheer scale of activity despite recent downturns. For me, the most important aspect is sustainability—volume alone doesn’t guarantee stability. I believe perpetual DEXs are proving that decentralized finance can handle complex instruments at scale. In the end, this milestone reflects the growing maturity of DeFi, showing that innovation and adoption continue even in challenging market conditions.