⚔️ The race for second place in perp DEXs is heating up fast. Hyperliquid is still in a league of its own with $179B monthly volume, but the fight below is tight. Over the past week GMX posted $16.6B, Aster $10.1B, and ApeX $9.3B. Hype doesn’t cut it when markets get shaky. Traders gravitate to venues with deep books, tight spreads, and smooth fills when volatility spikes. That’s how protocols earn real loyalty. GMX has the lead, but Aster and ApeX are gaining ground quickly. If either overtakes GMX, expect serious capital rotation across alts. This matters because on-chain leverage tends to lead price. The platform winning flow today could be tomorrow’s headline trade. If leverage demand keeps climbing post-Iran deal and BTC’s breakout, this battle could get brutal 🔥 Watch the weekly closes—the #2 crown is still anyone’s game. NFA. DYOR. #IranDealOilCrashBTCRip #AnthropicFromBanToCIA #OKXPizzaDay