Chinese DeFi Platform SunPerp Flourishes Despite Crypto Ban, Reaches $3.6B in Trading Volume
- SunPerp, a Chinese DeFi platform, achieved $3.6B trading volume despite China's crypto ban, leveraging TRON and cross-chain expansion. - The non-custodial platform attracted 10,000 users in its test phase with zero fees and hybrid on-chain/off-chain settlement systems. - Its growth highlights DeFi's resilience in regulated markets, offering alternatives to centralized exchanges through multi-oracle security and self-custody. - Analysts warn regulatory risks persist, but SunPerp's low-cost TRON infrastruc
SunPerp, a decentralized perpetual futures trading platform known in China as Sun Wukong, has recorded over $3.6 billion in trading volume. This milestone suggests a possible change in how Chinese traders are engaging with crypto, even as the region maintains strict regulations, according to
The rise of SunPerp demonstrates the strength of decentralized finance (DeFi) in regions where centralized exchanges are under increased scrutiny. Its non-custodial design, use of multiple oracles, and liquidation safeguards appeal to users seeking alternatives to conventional finance. The testnet period showed the platform’s scalability, and there are plans to add more tokens and enhance cross-chain support. This growth comes as more Chinese traders opt for decentralized solutions to bypass restrictions on centralized crypto services.
The increase in trading volume also highlights SunPerp’s strategic role within the DeFi sector. By prioritizing self-custody through multisig wallets and taking advantage of TRON’s low transaction costs, the platform addresses key concerns for individual investors. Nevertheless, regulatory uncertainty persists, as China’s comprehensive crypto ban could affect both user confidence and market liquidity. Experts point out that while decentralized platforms offer more independence, they must adapt to changing regulatory requirements to ensure sustainable growth.
SunPerp’s achievements reflect a broader movement in DeFi, where user-centric protocols are transforming access to financial markets. As the platform looks to grow further, its success will depend on its ability to scale while remaining flexible in the face of regulatory changes, helping it stay ahead in a fast-changing industry.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Kazakhstan's Push for Digital Independence: Crypto Reserves Seek to Broaden Oil-Driven Economy
- Kazakhstan plans a $500M–$1B crypto reserve fund by 2026, managed by AIFC, to diversify its oil-dependent economy. - The fund will invest in crypto ETFs and companies, using seized digital assets and state mining proceeds, avoiding direct crypto holdings. - International partnerships (e.g., Cove Capital, Nvidia) and gold/foreign currency allocations aim to build tech infrastructure and attract investment. - Critics highlight risks around transparency and volatility, while the initiative aligns with globa
LUNA Plunges 80.61% Over the Past Year as Market Fluctuations and Technical Weakness Persist
- LUNA fell 0.74% in 24 hours, with 14.1% weekly and 13.92% monthly declines, reflecting sustained bearish pressure. - Technical indicators like RSI and MACD confirm bearish momentum, with key support levels breached and moving averages underscoring the downtrend. - Backtesting shows limited short-term recovery after 10%+ drops, with weak statistical significance and high outcome dispersion. - Analysts warn LUNA remains in a long-term bear market, lacking bullish catalysts and facing continued downside ris
COAI Token Fraud Aftermath and Cryptocurrency Research: Managing Uncertainty in an Unstable Market
- The 2025 crypto market faces a paradox: innovation coexists with rampant fraud, exemplified by the COAI Token scam linked to centralized manipulation and false AI claims. - COAI's 70% price surge masked 87.9% supply control by ten wallets, mirroring scams like MYX Finance, while Meta's platforms face scrutiny for enabling $15B daily scam ad traffic. - Investors now prioritize due diligence tools like triple-audited projects (XRP Tundra) and AI detectors (DeepSnitch) to identify red flags in governance an
Connecting Proof of Work and Privacy: Psy Protocol's Testnet Pushes the Boundaries of Blockchain
- Psy Protocol integrated four major mining pools into its testnet to validate infrastructure ahead of mainnet launch, leveraging real-world hashrate for network operations and ZKP aggregations. - The protocol combines PoW with ZKP aggregation to achieve over 1 million TPS, aiming to address scalability challenges in Web3 and AI-driven ecosystems while maintaining decentralized security. - Participation from F2Pool and other industry leaders signals institutional confidence, with the testnet phase focusing
Trending news
MoreCrypto prices
More
