Key Takeaways
- Justin Sun’s HTX launched Sunperp, a DEX Perp, competing against Hyperliquid and Aster.
- After weeks of public beta testing, the product was released with nearly 3000 users.
- DEX perpetual exchanges are expected to grow in popularity in 2025, accounting for 25% of the market share.
Amid the growing popularity of decentralized perpetual exchanges, Justin Sun’s HTX has launched a new Hyperliquid rival called SunPerp.
SunPerp was launched by TRON’s founder and HTX advisor, representing a strategic expansion of the TRON ecosystem that fills a gap in native on-chain derivatives trading.
SunPerp Officially Launches After Weeks in Beta
SunPerp was officially launched on the mainnet on October 1 during the Token 2049 event, following weeks in a public Beta phase.
The platform officially entered public beta on Sept. 19, during an X Space event co-hosted by HTX Live, TRON, and SunPerp, themed “The Boundless Imagination of the Next Generation of DEX.”
By September 21, it had already onboarded over 3,000 users, and recent updates indicate that daily trading volumes reached $30 million by Day 6 of the beta.
Built natively on the TRON blockchain, SunPerp takes advantage of its low network costs, high throughput (up to 2,000 TPS), and dominance in USDT circulation (more than 50% of the world’s USDT supply).
With up to 20x leverage in cross or isolated margin settings, it supports over 31 trading pairings, including popular memecoins like TRUMP and blue-chip assets like Bitcoin.
Dex Perp: Challenging Binance’s Thrown
Decentralized exchange (DEX) perpetual futures, often referred to as “perp DEXs,” have experienced significant growth in adoption throughout 2025, capturing a growing share of the cryptocurrency derivatives market.
Although centralized derivatives platforms like Binance, OKX, and a few others still dominate the perpetual trading market in terms of trading volume, DEX perps like Hyperliquid and Aster have made a significant mark quickly.
These platforms enable traders to speculate on asset values in a non-custodial, on-chain environment, utilizing leverage without expiration dates.
Perp DEX’s rise is not merely a DeFi trend; rather, it is a reaction to the constraints on centralized exchanges, such as regulatory scrutiny, limited leverage, and more.
By mid-2025, perp DEXs accounted for 26% of total perpetual futures volume, a massive jump of 4-6% in early 2024, with platforms like Hyperliquid leading the charge.
Centralized exchanges like Binance record $50 billion in daily derivative volumes, followed by OKX, which has $30 billion.
In comparison, DEX platforms like Hyperliquid see approximately $7.6 billion to $15 billion in daily derivative volume, while Aster is quickly catching up.
Although the trading volume is still one-fourth of the CEX platforms’, the popularity could propel these DEX platforms to compete with Binance in the coming years.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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