The decentralized finance (DeFi) landscape has experienced a seismic shift with the recent surge in daily trading volume on perpetual decentralized exchanges (DEXs) led by Aster, a prominent player in the space. As of today, September 26, 2025, the industry has witnessed trading volumes skyrocket to an astonishing $70 billion. This development has sparked intense debate among community members, who are divided on whether this surge reflects genuine market conviction or a strategy driven by aggressive incentive farming.
Aster’s Meteoric Rise in Perpetual DEXs
Aster’s rapid ascent in the DeFi ecosystem has been nothing short of remarkable. The platform, which focuses on perpetual futures contracts, has become a preferred choice for traders seeking to hedge risks or leverage positions. Aster’s user-friendly interface, combined with its robust security protocols, has made it a standout in the crowded world of decentralized exchanges.
Over the past few months, Aster has implemented a series of strategic initiatives aimed at attracting more users and increasing trading volumes. One significant move was the introduction of a highly competitive fee structure, which undercuts many of its competitors. By reducing transaction costs, Aster has positioned itself as an attractive option for both retail and institutional investors.
Incentive Farming or Genuine Market Interest?
Despite the impressive numbers, the surge in Aster’s trading volume has raised eyebrows within the crypto community. Critics argue that the spike may not be entirely driven by organic growth. Instead, they point to the possibility of aggressive incentive farmingβa practice where users are enticed to trade more frequently through lucrative rewards and bonuses.
Aster has rolled out an array of incentive programs designed to boost user engagement and liquidity. These include attractive yield farming opportunities, token airdrops, and trading competitions that offer substantial rewards. While these initiatives have undeniably fueled activity on the platform, skeptics caution that such strategies could artificially inflate trading volumes without reflecting genuine market demand.
Community Voices: Skepticism and Optimism
Opinions within the crypto community are divided. Some traders see Aster’s success as a testament to the growing popularity of decentralized finance and the increasing trust in DEXs. They argue that Aster’s innovative features and competitive edge are naturally drawing traders away from centralized exchanges, which have been plagued by security breaches and regulatory scrutiny.
On the flip side, others remain skeptical, questioning the sustainability of Aster’s growth. They warn that reliance on incentive-driven trading could lead to a volatile market environment, where volumes plunge as soon as rewards dry up. This could potentially leave traders and investors exposed to heightened risks, especially if the platform can’t maintain its current momentum.
Industry Experts Weigh In
To gain a deeper understanding of the situation, we reached out to several industry experts for their take on Aster’s meteoric rise and the broader implications for the DeFi sector.
Dr. Emily Chen, a blockchain analyst at CryptoInsight, expressed cautious optimism. “While incentive programs can certainly drive volumes in the short term, it’s essential for platforms like Aster to focus on building sustainable growth models,” she noted. “The real test will be how they adapt and evolve once initial incentives taper off.”
Meanwhile, John Patel, a veteran trader and founder of DeFi Strategies, voiced concerns about the potential for market manipulation. “When volumes are driven primarily by incentives, there’s a risk of creating a bubble that’s not supported by real market demand. Platforms need to strike a balance between attracting new users and ensuring organic growth,” he warned.
The Road Ahead for Aster and Perpetual DEXs
As Aster continues to ride the wave of success, the platform faces the challenge of proving its staying power. Sustaining $70 billion in daily trading volume will require a delicate balance between innovation and stability. Aster’s team has hinted at plans to introduce new features and expand its ecosystem, which could help maintain user interest and engagement.
Moreover, the broader DeFi industry stands to benefit from Aster’s success. Perpetual DEXs offer a glimpse into the future of finance, where decentralized platforms could rival traditional financial institutions in terms of accessibility and efficiency. However, the path to widespread adoption is fraught with challenges, including regulatory hurdles and the need for enhanced security measures.
Conclusion: A Defining Moment for DeFi
Aster’s surge to $70 billion in daily trading volume marks a defining moment for the DeFi sector. Whether driven by market conviction or incentive farming, the platform’s success underscores the potential of decentralized exchanges to reshape the financial landscape. As the debate continues, all eyes will be on Aster and its ability to navigate the complexities of the crypto market, ensuring its place as a leader in the ever-evolving world of decentralized finance.
In the coming months, traders, investors, and industry stakeholders will be watching closely to see if Aster can maintain its momentum and set new standards for perpetual DEXs. Regardless of the outcome, the lessons learned from Aster’s journey will undoubtedly influence the future trajectory of the DeFi space.

Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.