Bluefin Rising: The Perp DEX Boom They Don’t Want You to Notice

September brought a rawness to the perpetual markets-screens glowed with a harsh, repetitive glare. Hyperliquid (HYPE) and Aster march at the front, pragmatic drums beating a stubborn rhythm. Behind them, smaller ships with blue sails-Bluefin (BLUE)-drift, ready to catch the wind of the moment.

What advantages does BLUE possess in this hour of noise? The following lines seek to answer, without pretense, with the discipline of data and the stubbornness of hope. 🤨

What Gives BLUE an Edge in the Fierce Perp DEX Competition?

Bluefin now stands as the leading perpetuals platform on Sui, a claim that feels both earned and suspect. In September it reached milestones that would make any ledger glow with a pale, exact pride.

The Total Value Locked (TVL) marched up to $220 million, then settled around $180 million. It boasted about 2.2 million accounts and a trading volume exceeding $78 billion. A tidy parade of numbers, as convincing as any sermon in a dry season. 😂

Thanks to Bluefin’s contributions, weekly and monthly Perps volumes on Sui climbed to heights not seen since the start of the year. One might call this a signal, or simply a delicious rumor dressed in statistics, that trading activity is waking from a long nap. 😏

“SUI saw its highest monthly perp volume since January. Why? Bluefin is why,” analyst Kyle Chassé explained.

Bluefin’s TVL, measured in SUI tokens tucked away in the protocol, grew from 20 million SUI at the start of the year to more than 50 million. The higher the locked sum, the louder the whispered vote of investor confidence-though one must wonder what “confidence” really buys in a market of shadows.

As a result, BLUE’s price doubled in September. BeInCrypto data shows the token opening at about $0.064 and climbing to roughly $0.135 by month’s end. A neat arithmetic trick, if you pretend the world’s volatility isn’t real. 🚀

The fusion of rising prices and on-chain data has led some to whisper that BLUE could become investors’ next fixation-like a rumor that refuses to die, but wears a nicer suit. 😅

“The Perp DEX meta is heating up more than ever, fueled by explosive growth from ASTER and APEX. A project with 10x growth potential is Bluefin. It’s not just a perp platform; it’s a native DeFi hub offering a full suite of services, including spot swaps, perpetuals, lending, and vaults,” investor Bellstoshi predicted.

BLUE has already appeared on the Binance Alpha list, though it has not yet received an official Binance spot listing. These breadcrumbs feed expectations that Binance may soon list BLUE, sparking a fresh wave of FOMO around the token. 😬

Additionally, the Bluefin governance team has proposed a quarterly BLUE token buyback program. The plan could begin on October 1, 2025, with 25% of protocol revenue allocated to repurchase BLUE.

According to Kaleo, founder, LedgArt, the market will soon recognize BLUE’s fundamentals. Prices could return to the late-2024 peak. However, the path may not be quick or easy, as BLUE would still need to rise sixfold to revisit its all-time high of $0.8.

2025-09-29 14:19

What Gives BLUE an Edge in the Fierce Perp DEX Competition?

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