Why BLUE Could Soon Steal the Spotlight in the Perp DEX Token Wave
September noticed heightened exercise throughout Perpetual DEX platforms. Leading tasks like Hyperliquid (HYPE) and Aster are setting the tempo. In this context, lower-cap tokens with the identical theme, comparable to Bluefin (BLUE), could appeal to growing consideration.
What benefits does BLUE have in attracting consideration right now? The following article will present in element.
What Gives BLUE an Edge in the Fierce Perp DEX Competition?
Bluefin at the moment stands as the main perpetuals platform on Sui. In September, Bluefin reached a number of spectacular milestones.
The Total Value Locked (TVL) climbed to $220 million earlier than adjusting to $180 million. The platform additionally recorded 2.2 million accounts, whereas buying and selling quantity surpassed $78 billion.
Thanks to Bluefin’s contribution, weekly and month-to-month Perps volumes on Sui hit new highs not seen since the begin of the 12 months. This pattern alerts a possible upcoming surge in buying and selling exercise.
“SUI noticed its highest month-to-month perp quantity since January. Why? Bluefin is why,” analyst Kyle Chassé explained.
Bluefin’s TVL, measured in SUI tokens locked in the protocol, has additionally grown considerably. It rose from 20 million SUI at the begin of the 12 months to greater than 50 million. The larger the locked quantity, the stronger the investor confidence in the venture.
As a outcome, BLUE’s value doubled in September. According to BeInCrypto knowledge, the token began the month at $0.064 and has since reached $0.135.
The mixture of rising token costs and constructive on-chain knowledge has led analysts to foretell that BLUE might turn into buyers’ subsequent focus.
“The Perp DEX meta is heating up greater than ever, fueled by explosive progress from ASTER and APEX. A venture with 10x progress potential is Bluefin. It’s not only a perp platform; it’s a local DeFi hub providing a full suite of companies, together with spot swaps, perpetuals, lending, and vaults,” investor Bellstoshi predicted.
BLUE has already appeared on the Binance Alpha listing, although it has not but acquired an official Binance spot itemizing. These achievements elevate expectations that Binance could quickly contemplate itemizing BLUE, sparking a brand new wave of FOMO round the token.
Additionally, the Bluefin governance workforce has proposed a quarterly BLUE token buyback program. The plan might start on October 1, 2025, with 25% of protocol income allotted to repurchase BLUE.
According to Kaleo, founder, LedgArt, the market will quickly acknowledge BLUE’s fundamentals. Prices might return to the late-2024 peak. However, the path might not be fast or simple, as BLUE would nonetheless must rise sixfold to revisit its all-time high of $0.8.
The submit Why BLUE Could Soon Steal the Spotlight in the Perp DEX Token Wave appeared first on BeInCrypto.
