- Perp DEX tokens lost more than $1.3 billion in market value over the past day.
- ASTER, AVANTIS and APEX slide up to 35%.
- Analysts expect significant rallies in October.
Cryptocurrencies showed weakness on Tuesday, with most coins losing momentum after yesterday’s brief gains.
The global cryptocurrency market capitalization fell about 1% over the past 24 hours to $3.89 trillion.
Meanwhile, perpetual tokens underperformed the broader market.
Data from CoinGecko shows that Perp coins dropped 6.2% (about $1.35 billion) in the last 24 hours, bringing total valuation down to $21.47 billion at the time of writing.
Daily trading volume rose to $5.79 billion, indicating robust trading activity—likely driven by market participants closing positions to avoid further losses.
This article examines the trending projects in the perp space, including Aster, Avantis and APEX. The trio attracted attention over recent sessions as market interest shifted toward decentralized derivatives.
ASTER Falls 10%
Decentralized exchange Aster has drawn attention with strong recent performance, at times outpacing established projects in activity.
The native token climbed to an all-time high above $2.40 on September 24, showing exceptional momentum in a month often marked by bearish pressure.
Since then, ASTER plunged about 10% in the past 24 hours and is trading near $1.72.
Profit-taking after the recent rallies, combined with broader market weakness, has driven ASTER lower on the daily chart.
Whale accumulation from major investors—highlighted by high-profile buys—still signals confidence in Aster’s disruptive potential.
AVNT Extends Weekly Losses
Avantis extended its weakness as perpetual tokens compressed across the market.
The token trades around $1.17 after a 4% daily decline and more than 45% loss over the past seven days.
Avantis has visibly lost the initial momentum that pushed prices to record levels earlier this month.
Despite positioning itself as a competitor in derivative trading, intense competition, liquidity challenges, and whale outflows have dented its momentum.
Although today’s dip appears less severe than some rivals, the broader picture points to a DEX facing structural challenges.
Some analysts, however, emphasize that serious development teams focus on long-term product-building rather than short-term price moves.
If that holds for Avantis, a meaningful recovery could materialize amid potential “Uptober” rallies.
APEX Takes a Heavy Hit
APEX suffered the largest drop, plunging over 35% in the past day and trading around $1.37.
The sharp decline follows a massive weekly gain in which the altcoin rose more than 350% to a peak near $2.70.
Today’s performance has raised investor doubts about Apex Protocol’s durability in the perp DEX trading arena.
Outlook for the Broader Market
Cryptocurrencies underperformed today in what some supporters call a final reset before potential October rallies.
Bitcoin shows bearish tendencies around $113,500, while top altcoins such as ETH, XRP, BNB and SOL have fallen up to 5% on their daily charts.
Analyst Michaël van de Poppe sees the current dips as buying opportunities that could pave the way for new all-time highs next month.
As you can see, #Bitcoin broke through a crucial resistance zone and has a ton of upwards potential.
I would assume that we’ll have a slight pullback and start running upwards from there.
It’s buy the dip season and I think we’ll see a new ATH in October. pic.twitter.com/smMiW0Jt2I
— Michaël van de Poppe (@CryptoMichNL) September 30, 2025
With experts predicting that decentralized perpetual exchanges will help shape the next bull cycle, crypto enthusiasts will be watching perp tokens closely in the coming weeks and months.