X @Wu Blockchain

Patrick Scott explains why Hyperliquid remains the best-positioned and most investable Perp DEX, even though its Perp DEX volume share has dropped from 45% to 8% in recent weeks—while competitors like Aster (volume up over 100X to $300B+ weekly), Lighter, and edgeX have grown. The author notes thesis invalidations would be Hyperliquid’s absolute volume dropping with market share loss, major Open Interest declines, or USDH’s prolonged depegging/failed liquidity growth. https://t.co/SeP3AspX7l ...