The built-in Telegram Wallet has enabled trading of perpetual futures through its integration with the decentralized exchange Lighter.
Introducing Perpetuals in Wallet in Telegram ⚡️
— Wallet in Telegram (@wallet_tg) April 2, 2026
Go long or short in seconds — right inside Telegram.
50+ markets: Metals, Stocks, Oil & Crypto
Up to 50x leverage
Start from $1
Powered by @Lighter_xyz pic.twitter.com/AhU5VH720f
This new feature allows users to open long and short positions with leverage across more than 50 assets, including Bitcoin, Ethereum, oil, gold, stocks, and ETFs. All transactions are conducted directly within the app via an integrated custodial crypto wallet.
The maximum leverage available is 50x. The infrastructure for the direct integration of Lighter's decentralized order book into Telegram was developed by The Open Platform (TOP), the creator of Wallet.
A Unique Niche
The project does not aim to compete with specialized exchanges for experienced traders. Its primary goal is to attract a mass audience that is not yet familiar with the derivatives market. The built-in wallet already boasts tens of millions of users, many of whom joined through the ecosystem of mini-apps and reward programs.
“Trading perpetual contracts has traditionally required complex interfaces and specialized platforms. The direct integration into Wallet simplifies access and lowers the entry barrier for users who already store and transfer cryptocurrency in Telegram,” said TOP CEO Andrey Rogozov.
This new functionality is not available to residents of the U.S. and the U.K. The project team is focusing on emerging markets where access to traditional brokerage infrastructure is limited.
Growth of the Perpetual Segment
Perpetual futures, or “perps,” allow speculation on price movements without a fixed expiration date. This instrument currently dominates the crypto derivatives market, with monthly trading volumes exceeding $1 trillion by the end of 2025.
The leader in this segment is Hyperliquid, with a daily turnover nearing $7 billion.
Lighter ranks fourth in this area, competing with Aster and edgeX.
In recent months, the exchange has expanded its product lineup, adding spot trading and perpetual contracts on stocks, which are available 24/5. In November, the startup raised $68 million in funding at a valuation of $1.5 billion.
Hyperliquid's Expansion: Competing with CEX and TradFi
CEXs remain a central element of the crypto industry, processing over $3 trillion in perpetual futures trades monthly.
However, the leading perp-DEX is steadily diminishing this dominance. In early April, Hyperliquid's share of the total perpetual trading volume exceeded 7% (up from 3.5% a year earlier). The platform's monthly turnover surpassed $200 billion.
Notably, these key metrics are rising amid a general decline in exchange activity following a peak in August 2025. This indicates effective market expansion rather than a temporary spike aligned with broader trends.
A significant growth factor is the platform's entry into the non-crypto asset market. Commodity instruments like oil are traded on Hyperliquid around the clock, seven days a week.
The share of traditional assets in the overall turnover is steadily increasing, highlighting the structural advantage of DEXs over traditional markets.
If decentralized futures trading platforms continue to increase liquidity and expand their range of instruments, their target audience is likely to extend well beyond the crypto industry.
As a reminder, former BitMEX CEO Arthur Hayes predicted that in the future, stock prices will be determined by perp-DEXs rather than Nasdaq.