The Internet Computer has entered the world of perpetual futures trading, though the debut has stirred both enthusiasm and sarcasm. Aster DEX announced the listing on Friday evening, adding $ICP perpetuals with up to 10x leverage as part of a triple launch alongside $AR (up to 5x) and $FIL (up to 10x). Traders can also earn 1.2x trading points until 14 November, 23:59 UTC, under a short-term rewards campaign aimed at boosting early participation.
On Aster’s perpetuals platform, ICP/USDT is trading around $9.03, up about 17% over the past 24 hours. The pair has seen roughly 1.26 million USDT in daily volume and open interest of about 342,000 USDT—steady but still modest figures for a new derivatives listing.
Across broader markets, ICP has been volatile, moving between $7.30 and $9.39 over the past day. The token’s market capitalisation now sits near $5 billion, with 24-hour trading volume around $1.7 billion. Despite the swings, the timing of the Aster listing has drawn attention, with traders debating whether derivatives exposure will help stabilise ICP’s price action or simply amplify short-term moves.
On X, @DaoKingdom posted a tongue-in-cheek “congratulations” to Dfinity’s “Gen 3 blockchain” for finally gaining derivatives support—mocking what some see as a late entry for a project often described as highly advanced. The reaction captures the split sentiment: ICP’s technology is respected, but its DeFi integration has lagged behind other major networks.
Perpetual futures remain the engine of crypto trading, dominated by Bitcoin and Ethereum. For ICP, inclusion on Aster DEX offers a step toward deeper liquidity and better market visibility. Supporters believe it could improve price discovery and attract more active traders. Critics caution that incentive-driven launches often create temporary volume spikes that fade once campaigns end.
Speculation is already swirling that ICP might next list on Hyperliquid, a leading perpetual DEX known for its deep liquidity and growing market share. Such a move could strengthen ICP’s presence in derivatives trading, though sustained participation will be the real test.
For now, Friday’s listing has put ICP back under the market’s microscope. Its price remains volatile, but the addition of perpetuals has at least given traders a new way to engage with one of crypto’s most technically ambitious—and polarising—projects.
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