The Rise of Perp DEXs: Record Volumes and Growing Institutional Backing. Photo by BeInCrypto Trading activity on decentralized exchanges (DEXs) surged to new highs in October, signaling the continued shift of global crypto markets toward on-chain finance. According to data from DeFiLlama, perpetual DEXs processed more than $1.36 trillion in trading volume last month, the highest level ever recorded. That figure surpassed August’s$759 billion peak, setting a new benchmark for on-chain trading activity. H ...