{"id":89550,"date":"2025-10-03T12:35:54","date_gmt":"2025-10-03T09:35:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89550"},"modified":"2025-10-03T12:41:24","modified_gmt":"2025-10-03T09:41:24","slug":"analyst-declares-hyperliquid-the-best-perp-dex","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/analyst-declares-hyperliquid-the-best-perp-dex\/","title":{"rendered":"Analyst Declares Hyperliquid the &#8216;Best Perp-DEX&#8217;"},"content":{"rendered":"<p>The share of <a href=\"https:\/\/forklog.com\/en\/news\/the-price-of-popularity-and-a-lesson-for-all-hyperliquid\">Hyperliquid<\/a> in the perp-<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-decentralised-exchange-dex\">DEX<\/a> segment has decreased from 45% to 8%, yet the platform remains &#8220;the most investment-attractive,&#8221; according to <a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a> analyst Patrick Scott.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Why Hyperliquid is still the best-positioned Perp DEX:<\/p>\n<p>Over the past few weeks\u2026<br \/>-Hyperliquid\u2019s share of Perp DEX volume has fallen from 45% to 8%<br \/>-Aster\u2019s volume has grown more than 100X to $300b+ last week<br \/>-Lighter and edgeX have risen to have comparable volume to Hyperliquid\u2026 <a href=\"https:\/\/t.co\/rfIZzGEdsc\">pic.twitter.com\/rfIZzGEdsc<\/a><\/p>\n<p>\u2014 Patrick Scott | Dynamo DeFi (@patfscott) <a href=\"https:\/\/twitter.com\/patfscott\/status\/1973539551999136058?ref_src=twsrc%5Etfw\">October 2, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to him, the platform&#8217;s key advantage is its sustainable business model. The current capitalization-to-revenue ratio of 12.6 &#8220;indicates a fair valuation against the project&#8217;s profitability,&#8221; the expert emphasized.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Trading volume records operational activity, while open interest is a barometer of real liquidity. Hyperliquid&#8217;s dominance with a 62% market share in this key metric underscores its ability to maintain deep markets even amid fierce competition,&#8221; he also noted.\u00a0<\/em><\/p>\n<\/blockquote>\n<p>Scott added that a year after the <a href=\"https:\/\/forklog.com\/en\/news\/hype-or-a-new-standard-what-hyperliquids-airdrop-historys-most-generous-teaches-us\">HYPE airdrop<\/a>, the decentralized exchange has not only retained but also expanded its user base. In his view, loyalty is &#8220;a result of product quality, not incentive programs.&#8221;<\/p>\n<p>The analyst linked Hyperliquid&#8217;s growth prospects to the active development of its ecosystem:\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/forklog.com\/en\/news\/hyperliquid-team-launches-hyperevm\">HyperEVM<\/a> network already hosts over 100 deployed protocols, and its <span data-descr=\"total value locked\" class=\"old_tooltip\">TVL<\/span> exceeds $2 billion;<\/li>\n<li>The capitalization of the <a href=\"https:\/\/forklog.com\/en\/news\/hyperliquid-introduces-usdh-stablecoin-from-native-markets\">USDH stablecoin<\/a> has reached $25 million;<\/li>\n<li>The upcoming launch of the <a href=\"https:\/\/hyperliquid.gitbook.io\/hyperliquid-docs\/hyperliquid-improvement-proposals-hips\/hip-3-builder-deployed-perpetuals\">HIP-3<\/a> system will allow developers to create perpetual contract markets through <a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">HYPE staking<\/a>.\u00a0<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Hyperliquid demonstrates resilience in the face of growing competition, maintaining key competitive advantages and expanding its ecosystem beyond the core business model,&#8221; Scott concluded.\u00a0<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">A New Player in the Perp-DEX Market<\/h2>\n<p>The BounceBit team has unveiled a major update. The upgrade transforms the project&#8217;s business model from a Bitcoin staking service into a comprehensive <a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a> ecosystem with its own perp-DEX.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Revealing BounceBit V3 \u2014 Big Bank<\/p>\n<p>A rebasing BB-token standard, a perpetuals DEX and its liquidity pool built into the core.<\/p>\n<p>One chain. One exchange. One big bank.<\/p>\n<p>And all roads lead to <a href=\"https:\/\/twitter.com\/search?q=%24BB&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BB<\/a>. <a href=\"https:\/\/t.co\/Kvsemk2GkL\">pic.twitter.com\/Kvsemk2GkL<\/a><\/p>\n<p>\u2014 BounceBit (@bounce_bit) <a href=\"https:\/\/twitter.com\/bounce_bit\/status\/1973738081896579369?ref_src=twsrc%5Etfw\">October 2, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The key element is the integration of a <span data-descr=\"Centralized Decentralized Finance \u2014 a hybrid format where centralized exchanges or platforms offer users access to DeFi tools\" class=\"old_tooltip\">CeDeFi<\/span> vault into a <a href=\"https:\/\/forklog.com\/en\/news\/what-are-cross-chain-bridges\">cross-chain<\/a> hub. Users can deposit Bitcoin, Ethereum, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a>, BNB, and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">USDT<\/a>, which the system automatically converts into liquid BB-tokens (BBTC, BBETH, and others) within the BounceBit network.<\/p>\n<p>The project also announced a <a href=\"https:\/\/forklog.com\/en\/news\/what-are-liquidity-pools-and-how-do-they-work\">liquidity provider<\/a> token for perpetual futures \u2014 BLP. The new perp-DEX uses this asset pool as a counterparty for all participants.<\/p>\n<p>BLP holders will be able to earn from fees, successful traders&#8217; transactions, and the growth of the entire pool&#8217;s value.\u00a0<\/p>\n<p>In September, trading volume on decentralized perpetual futures exchanges surpassed $1 trillion for the first time. The top three included <a href=\"https:\/\/forklog.com\/en\/news\/aster-surpasses-tether-and-circle-in-fee-volume\">Aster<\/a>, Hyperliquid, and <a href=\"https:\/\/forklog.com\/en\/news\/new-rival-to-hyperliquid-launches-mainnet\">Lighter<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The share of Hyperliquid in the perp-DEX segment has decreased to 8%, yet the platform remains &#8220;the most investment-attractive,&#8221; according to DeFi analyst Patrick Scott.<\/p>\n","protected":false},"author":1,"featured_media":89551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"According to him, the platform's key advantage is its sustainable business model.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,787,1823,1138],"class_list":["post-89550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-dex","tag-hyperliquid","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"402","promo_type":"1","layout_type":"1","short_excerpt":"According to him, the platform's key advantage is its sustainable business model.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89550"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89550\/revisions"}],"predecessor-version":[{"id":89552,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89550\/revisions\/89552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89551"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}