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Hyperliquid Loses Dominance in On-Chain Perpetuals Market as Competitors Rise
Hyperliquid Loses Dominance in On-Chain Perpetuals Market as Competitors Rise
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BTCCSquare news:
Hyperliquid's market share in the on-chain perpetuals sector has plummeted from 71% to 38% since May, as rivals Lighter and Aster gain traction. Backed by a16z and Binance Labs respectively, these platforms now command 16.8% and 14.9% of the market.
The decentralized perpetuals market has surged to $700 billion in cumulative volume over four weeks, with daily activity hitting $42 billion. Once dominated by just two protocols in 2022, the space now boasts over 80 competitors.
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