1/Perp DEX tokens retrace as volatility triggers mass liquidations
$HYPE dropped 20% to $37.85, $AVANTIS fell 42.5%, and $ASTER slid 36.6% following a surge in volatility. Protocols faced liquidations, ADL events, and price dislocations as market momentum abruptly reversed.

2/ Key takeaways:
• $HYPE trades 35% below its September high, testing $44 support
• @JupiterExchange Perps processed $460M in liquidations with no downtime
• @Lighter_xyz points OTC bids fell 25% to $75
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