Perpetual futures have become a powerhouse in crypto derivatives—the combination of round-the-clock markets and capital efficiency creates something genuinely compelling.

As perp interfaces and liquidity depth continue to sharpen, we're likely looking at accelerated adoption. But there's more to watch than just the upside.

Key metrics to monitor: Open Interest trends, trading volume, funding rate stability, liquidation distribution patterns, and oracle reliability. These tell you whether the ecosystem is holding together or creaking under stress.

The real risk? Cascade liquidations during volatility spikes, paired with tightening regulatory scrutiny. When markets gap and systems break in the same window, that's when things get messy. Stay sharp.