X @Messari
Messari·2025-10-15 18:12
New perp DEXs like Aster, Lighter, and edgeX are starting to attract liquidity.Our latest Enterprise Note compares volumes, address overlap, and capital flows between these new players and Hyperliquid.Full breakdown 👇 https://t.co/f2qiBHAVSSKaleb (@Kaleb0x):New perp DEXs like Aster, Lighter, and edgeX are gaining traction, but is it organic or mercenary capital?Vol-to-TVL is a quick metric for inflated activityHyperliquid has stayed ~2.5 YTD, while newer perp DEXs are higher, implying some incentive-driven ...