X @Cointelegraph

Market Share & Competition - Hyperliquid's market share in perpetual DEXs has decreased from over 70% to just over 30% [1] - New entrants like Lighter and Aster are rapidly gaining market share [1] - Users are switching platforms for better fees, incentives, and trading speed [1] Industry Trends - Market fragmentation may indicate healthy competition or the beginning of a liquidity war in onchain futures [1]