In 2024, Vertex achieved significant milestones. Despite a slowdown in the fourth quarter, the overall growth was strong, and the ecosystem made progress. The total value locked (TVL) grew by 89% year-on-year, reaching $81.40 million, while the open contracts in the fourth quarter increased by 110% quarter-on-quarter, reaching $133.60 million, indicating a rise in leverage demand. Although the trading volume and daily trading volume experienced a quarter-on-quarter decline, the annual trend remained strong, with Vertex's perpetual contract market contributing $27.13 billion in trading volume in the fourth quarter. The deployment of Sei became a key driver, as its trading volume surpassed that of Arbitrum due to Vertex's successful trading rewards program.

2024 marked significant milestones for Vertex, demonstrating strong annual growth and ecosystem advancements despite Q4 slowdowns. Total value locked (TVL) increased 89% YoY to $81.4 million, with open interest surging 110% QoQ in Q4 to $133.6 million, signaling heightened demand for leverage. While trading volumes and daily trades declined QoQ, they reflected robust annual trends, with Vertex’s perps markets contributing $27.13 billion in Q4 volume. Sei’s deployment emerged as a key driver, overtaking Arbitrum in volume due to Vertex’s successful trading rewards programs.

Vertex Q4 2024 Report: Strong Annual Growth and Significant Ecosystem Progress