Ondo’s $6B perps debut passes Aster and Lighter – Can it challenge Hyperliquid?
Ondo Finance launched its perps DEX in July and reported perps volume rising from about $128M on July 7 to over $300M, with cumulative volume reaching $5.996B three weeks after launch. Open interest peaked at $74.77M. Tokenized equities and commodities, including Nvidia, Tesla, oil, gold, and the S&P 500, drove growth. ONDO market cap was $1.87B.


