Hyperliquid сохраняет лидерство на рынке perp-DEX благодаря устойчивой бизнес-модели Translation: Hyperliquid Maintains Market Leadership in Perp DEX Driven by Sustainable Business Model

The share of Hyperliquid in the perp-DEX sector has fallen from 45% to 8%, yet the platform is still deemed «the most attractive for investment.» This was stated by DeFi analyst Patrick Scott.

According to him, the platform’s primary strength lies in its stable business model. The current capitalization-to-revenue ratio of 12.6 «reflects a fair valuation amidst the project’s profitability,» the expert noted.

“Trading volume captures operational activity, while open interest serves as a barometer of real liquidity. Hyperliquid’s dominance with a 62% market share on this critical metric emphasizes its ability to maintain deep markets even in a competitive environment,” he added.

Scott mentioned that a year after the HYPE airdrop, the decentralized exchange has managed not only to retain but also grow its user base. In his view, this loyalty is a «result of product quality rather than incentive programs.»

The analyst linked Hyperliquid’s growth prospects with the active development of its ecosystem:

“Hyperliquid shows resilience in the face of rising competition, preserving key competitive advantages and expanding its ecosystem beyond the core business model,” Scott concluded.

The BounceBit team has unveiled a significant upgrade. This upgrade transforms the project’s business model from a Bitcoin staking service into a comprehensive DeFi ecosystem featuring its own perp-DEX.

A key component is the integration of CeDeFi storage into a cross-chain hub. Users can deposit Bitcoin, Ethereum, Solana, BNB, and USDT, which the system automatically converts into liquid BB tokens (BBTC, BBETH, and others) within the BounceBit network.

The project has also announced a liquidity provider token for perpetual futures — BLP. The new perp-DEX utilizes this asset pool as a counterparty for all participants.

Holders of BLP will be able to earn income from trading fees, successful traders’ transactions, and overall pool value appreciation.

It is worth noting that by the end of September, trading volume on decentralized perpetual futures exchanges exceeded $1 trillion for the first time in history. The top three included Aster, Hyperliquid, and Lighter.