- Perpetual DEX tokens lost more than $1.3 billion in market value over the past day.
- ASTER, AVANTIS and APEX fell as much as 35%.
- Analysts predict significant rallies in October.
On Tuesday, cryptocurrencies showed weakness as most coins lost momentum after brief gains the previous day.
The global crypto market capitalization fell 1% over the last 24 hours to $3.89 trillion.
Perpetual tokens underperformed the broader market.
CoinGecko data show that Perp coins declined 6.2% (roughly $1.35 billion) of their market value in the past 24 hours, bringing the sector’s total to $21.47 billion at the time of writing.
Daily trading volume jumped to $5.79 billion, indicating strong trading activity—likely a mix of traders exiting positions to avoid further losses and repositioning ahead of potential volatility.
This article examines trending projects in the perpetual DEX space, including Aster, Avantis and APEX. All three gained attention in recent sessions as market interest shifted toward decentralized derivatives.
ASTER down 10%
Decentralized exchange Aster attracted attention with recent performance that briefly outpaced established projects in on-chain activity.
On September 24, Aster’s native token climbed to an all-time high above $2.40, showing uncommon momentum in a month often marked by bearish pressure.
Since then, ASTER has fallen 10% over the past 24 hours to $1.72.
Profit-taking following recent rallies and broader market declines have driven ASTER’s downward trend on the daily chart.
At the same time, whale accumulations by high-profile investors—reported in the market—indicate continued confidence in Aster’s disruptive potential.
AVNT extends weekly losses
Avantis continued to weaken along with the broader slide in perpetual tokens.
It trades at $1.17 after a 4% drop today and more than a 45% decline over the past seven days.
Avantis has visibly lost the initial momentum that pushed prices to record levels earlier this month.
Although the project positions itself as a contender in derivatives trading, intense competition, liquidity pressure and whale outflows have dented its momentum.
While today’s decline appears less severe than some competitors, the broader picture points to a DEX currently under stress.
Still, some analysts argue that teams focused on product development rather than short-term price moves can recover. If Avantis remains focused on building, it could benefit from a meaningful rebound during any October rallys.
APEX takes a heavy hit
APEX was hit hardest, tumbling more than 35% in the past day to trade around $1.37.
The sharp drop follows a dramatic run that saw the altcoin surge over 350% during the prior week, peaking around $2.70.
Today’s sell-off left investors questioning Apex Protocol’s durability in the competitive perpetual DEX trading landscape.
Market outlook from analysts
Cryptocurrencies underperformed today in what some supporters describe as a final reset before potential October rallies.
Bitcoin exhibits bearish pressure around $113,500, while major altcoins—ETH, XRP, BNB and SOL—are down up to 5% on their daily charts.
Analyst Michael van de Poppe views the current pullbacks as buying opportunities before 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 analysts forecasting that perpetual decentralized exchanges could shape the next bullish cycle, crypto traders and enthusiasts will watch perp tokens closely in the coming weeks and months.