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Decibel goes live on Aptos with fully onchain perpetuals exchange

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Decibel, a fully onchain perpetuals exchange incubated by Aptos Labs, is now live on the Aptos mainnet, the Decibel Foundation said Wednesday.

The debut follows a public testnet that drew more than 700,000 unique accounts and 132,000 daily active users, according to the foundation. Users executed over 1 million trades per day during testing, and more than $58 million was committed through a pre-deposit campaign ahead of mainnet activation.

Decibel’s debut comes during an intensifying race among onchain perpetuals exchanges. The past year has seen a surge of competition, led by Hyperliquid, which remains the category’s dominant venue by volume.

Other contenders, including Aster and Lighter, briefly gained traction before fading from the spotlight. Decibel now enters that increasingly crowded field with plans to gain market share from a sector that racked up $920 billion in trading volume over the past 30 days, according to DeFiLlama.

Decibel operates a central limit order book where order placement, matching, settlement and risk management occur entirely onchain. The model replaces the offchain risk engines and discretionary controls common in traditional and crypto exchanges with predefined smart contract rules visible to users.

The protocol will become the first perpetual exchange built on Aptos, a layer-1 blockchain with sub-50 millisecond block times and sub-500 millisecond finality. Decibel’s matching engine, margin requirements and liquidation logic execute onchain.

Users can fund accounts from Aptos, Ethereum, Solana or centralized exchanges. Roughly 40% of pre-deposit capital originated from Ethereum and Solana, the foundation said. The platform uses a dollar-denominated stablecoin, usDCBL, issued by Bridge, a Stripe company, as default collateral.

The Decibel Foundation said it plans to add spot markets, multi-collateral accounts and tokenized real-world assets, with the aim of expanding beyond crypto derivatives over time.

Bitcoin Wallets Holding 100 BTC About To Hit 20K: Santiment

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Bitcoin is on the verge of surpassing 20,000 wallets with at least 100 Bitcoin, an indicator that could signal healthy market dynamics, according to crypto analytics platform Santiment.

As of Thursday, there were 19,993 unique wallets holding 100 BTC or more, worth roughly $6.71 million per wallet at the time of publication, Santiment said in an X post on Thursday. Santiment anticipates that the milestone could be reached by Friday.

“If the number of 100+ BTC wallets is growing, that suggests distribution across more large holders rather than a small group controlling everything,” Santiment said. It is an important signal for Bitcoiners, as it reduces the perceived risk that a small number of whales can significantly swing prices.

Santiment points to “less extreme consolidation”

“In that sense, it points to less extreme consolidation at the very top,” Santiment said.

The trend also hints at rising confidence in a turnaround for Bitcoin (BTC), which is down around 47% from its October all-time high of $126,100 and is currently trading at $67,260, according to CoinMarketCap.

Bitcoin is down 24.59% over the past 30 days. Source: CoinMarketCap

Santiment explained that an increase in the number of large wallet holders after a Bitcoin price drop can be a bullish signal. 

However, it noted that the overall percentage of supply held by this cohort hasn’t changed, suggesting that while new wallets are reaching 100 Bitcoins, some long-term holders are likely selling.

“This is why prices have stayed suppressed,” Santiment said.

Are Bitcoin OGs done “selling aggressively” for now?

Fears that long-term Bitcoin holders are selling have been ramping up over the past three months and are widely seen as a key catalyst behind the recent pullback.