The October market has achieved feats that would make even a sentient toaster weep with pride. Hyperliquid (HYPE), Aster (ASTER), and Avantis (AVNT) – because nothing says “I’m a serious financial instrument” like a name that sounds like a sci-fi movie title – have posted gains so impressive, they might as well be trading in the 19th century. If this trend persists, capital may continue to rotate into smaller-cap altcoins… or perhaps it’s just the universe’s way of saying “you’re all mad.” 🧠🤖
On-chain data reveals that a few low-cap Perp DEX altcoins are experiencing strong accumulation… or maybe it’s just the blockchain whispering secrets to the whales. 🧙♂️
Perp DEX Records Fuel Interest in Low-Cap Altcoins
DefiLlama data reveals that Perps trading volume surpassed $1.1 trillion in September, a figure that could make a dragon drool… or at least a very wealthy investor. 🐉
Volume has already increased by more than $340 billion in the first three days of October alone. This growth signals the possibility of setting an even higher record this month. Because apparently, the crypto market has finally discovered the concept of “rush hour.” 🚗💨
A large wave of investors has flocked to derivatives trading on DEXs, drawn by the siren song of airdrops and the promise of becoming a crypto millionaire… or at least a crypto billionaire in their own mind. 🎯
If this trend continues, several low-cap altcoins could see strong price rallies. These tokens have market capitalizations below $50 million and are already showing signs of early accumulation. Because nothing says “investment opportunity” like a token that’s practically a digital paperweight. 📄
1. Adrena (ADX)
Adrena is an open-source, peer-to-peer, decentralized perpetual exchange built on Solana. Because who doesn’t want a financial instrument that’s as reliable as a toaster made of jelly? 🍞🪫
ADX currently holds a market capitalization of under $40 million. Nansen data shows that exchange reserves dropped by more than 3% in the last week of September, while ADX’s price climbed from $0.028 to $0.038. Meanwhile, top whale wallets increased their balances by 0.87%. Because nothing says “stability” like a 3% drop in reserves and a 35% price jump. 💸
Although these changes are modest, several factors could support further potential for ADX. First, DefiLlama data shows that the exchange’s Perps volume recovered to over $600 million in the past month, the highest level since June. Second, as of October 3, Adrena ranked second in daily trading fees among Solana-based derivative DEXs, only behind Jupiter. Third, the project appeared on Coingecko’s trending list. These signs suggest Adrena is attracting new traders… or at least new people who think “Solana” is a type of cheese. 🧀
2. Perpetual Protocol (PERP)
Perpetual Protocol is a decentralized futures exchange built on Ethereum. PERP has been listed on Binance since 2020, but its price has dropped nearly 99%. This decline left its market capitalization at just around $22 million. Because nothing says “I’m a solid investment” like a token that’s basically a digital ghost. 👻
Renewed investor enthusiasm for Perp DEX narratives has brought attention back to this token. Because nothing says “renewed enthusiasm” like a 99% price drop. 💸
Nansen data shows that PERP’s exchange reserves decreased by more than 15.6% in the past month, while balances in top wallets rose 7.8%. Because if you can’t trust the whales, who can you trust? 🐋
Some technical analysts highlight PERP’s price structure in 2025. The token is no longer making lower lows and is forming a bullish pattern, suggesting potential gains of more than 130% by year-end. Because nothing says “bullish” like a token that’s basically a 1990s stock tip. 📈
The combination of on-chain accumulation signals and technical structure could support a bullish scenario for PERP. Or it could be a mirage. Only time will tell… or, more likely, the next market crash. 🌪️
3. Bluefin (BLUE)
Bluefin is currently the leading perpetuals platform on Sui. Because nothing says “leadership” like a platform that’s so new, even its creators are still figuring out how it works. 🤯
BLUE’s market capitalization stands at approximately $39 million. DefiLlama data indicates that the DEX generates more than $13.6 million in annual revenue. Bluefin has pledged to use 25% of that revenue, about $3.4 million, to buy back BLUE. This planned buyback amount equals nearly 10% of the market capitalization. As a result, it could serve as a strong price catalyst and encourage more investors to accumulate BLUE. Because nothing says “price catalyst” like a company buying back its own shares… while pretending it’s not a Ponzi scheme. 💰
Notably, the buyback program began in October. Many analysts expect BLUE’s price to break above $0.20 this month. Because nothing says “expectations” like a token that’s basically a digital lottery ticket. 🎲
$BLUE chart looks really bullish, super clean uptrend with higher highs followed by higher lows.
Seems ready for a fresh leg up from here, also because the governance proposal to introduce buyback recently passed, so buybacks will commence today!@bluefinapp…
– Sjuul | AltCryptoGems (@AltCryptoGems) October 1, 2025
Low-cap altcoins can provide significant profit opportunities but also carry two key risks. First is liquidity risk. These tokens often have low trading volumes and poor market depth, which can easily lead to large fluctuations. Because nothing says “risk” like a token that’s so illiquid, even a squirrel would think twice before investing. 🐿️
Second is sentiment risk. If the Perp DEX trend fades, projects lacking real utility may fail to retain users, causing token prices to decline again. Because nothing says “utility” like a token that’s just a digital version of a pyramid scheme. 🏛️
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2025-10-03 15:59