Perpetual futures markets have become one of the main talking points in crypto, alongside real-world assets (RWAs) and memecoins. Chains such as @HyperliquidX, @Arbitrum and @Solana dominate
Perpetual futures markets have become one of the main talking points in crypto, alongside real-world assets (RWAs) and memecoins. Chains such as @HyperliquidX, @Arbitrum and @Solana dominate the segment, but @ton_blockchain is starting to pick up pace.
According to DefiLlama, the TON blockchain ($GRAM) has recorded a 35% increase in perps volume over the past seven days. Its 24-hour trading volume trails only slightly behind @RobinhoodCrypto.
Storm Trade (@storm_trade_ton) is driving most of that growth, with $12.17M in volume recorded over the past seven days.
The protocol is a decentralized perpetual exchange built on TON. DefiLlama describes it as the first decentralized exchange on the TON blockchain that lets users trade crypto, stocks, forex and commodities with leverage, through both a web app and Telegram. That Telegram integration is central to its pitch, since it lets users trade without leaving the messaging app.
DefiLlama tracks perp volume as the notional value of all trades on a protocol, and this figure includes leverage . That means headline volume numbers reflect leveraged position sizes rather than the capital traders have committed. Readers should keep this in mind when comparing perps venues with spot exchanges.
The gains come from a low base. DefiLlama's market-wide dashboard showed 24-hour perps volume of $24.966b across DeFi , and its homepage commentary noted that Hyperliquid dominates perps . Even a sharp weekly rise on TON therefore represents a small fraction of total activity in the sector.
Perp DEX activity as a whole has grown quickly. Data from DefiLlama showed perp DEX trading volume passing the $1 trillion mark for a second consecutive month in late 2025, as reported by BitcoinWorld. That wider demand for on-chain leveraged trading is the backdrop for TON's recent growth.
Whether Storm Trade and other TON-based venues can hold their momentum will depend on whether Telegram-native distribution translates into lasting trading activity. Volumes on perps platforms can swing sharply from week to week, so a single seven-day reading is not a reliable trend on its own.
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