Perpetuals Activities were Cooling Across the Market as at late last year — Except on TRON

As broader market conditions soften, on-chain perpetual futures volume has declined across most blockchain ecosystems. TRON, however, is demonstrating a clear countertrend.

Key data points highlight the divergence:

• Daily perps volume: Over $1B sustained for two consecutive days

• 7-day cumulative volume: $5.77B

• Week-over-week growth: +176%

This pattern is notable.

During risk-off phases, traders typically prioritize efficiency over narrative momentum. Capital tends to migrate toward infrastructure that offers lower transaction costs, faster execution, and dependable liquidity.

The sustained growth in TRON’s perpetuals activity points to organic trading demand rather than short-term, incentive-driven volume. Liquidity has not exited the market—it has become more selective.

The more relevant question is no longer why derivatives volume is declining elsewhere, but why TRON is increasingly capturing that flow.

Let’s focus on the data—not sentiment.

@trondao #TRONEcoStar