PANews reported on September 23rd that according to CoinDesk, Hyperliquid, once a leading player in the on-chain perpetual swap market, is gradually being overtaken by emerging platforms such as Lighter and Aster, resulting in a decline in market share. According to Dune data, Hyperliquid's market share of the on-chain cryptocurrency perpetual swap market reached 71% in May of this year, but has now fallen to 38%. Meanwhile, Lighter and Aster's market shares have increased from low single-digit percentages in May to 16.8% and 14.9%, respectively. The on-chain perpetual swap market is experiencing rapid growth. Over the past four weeks, cumulative trading volume across all platforms has approached $700 billion, with $42 billion traded in the last 24 hours alone. The number of on-chain perpetual swap protocols has rapidly increased from just two in 2022 to over 80 today. This growth demonstrates the vitality of the market: a thriving market attracts numerous new participants, intensifying competition and challenging the market share and profitability of early entrants.PANews reported on September 23rd that according to CoinDesk, Hyperliquid, once a leading player in the on-chain perpetual swap market, is gradually being overtaken by emerging platforms such as Lighter and Aster, resulting in a decline in market share. According to Dune data, Hyperliquid's market share of the on-chain cryptocurrency perpetual swap market reached 71% in May of this year, but has now fallen to 38%. Meanwhile, Lighter and Aster's market shares have increased from low single-digit percentages in May to 16.8% and 14.9%, respectively. The on-chain perpetual swap market is experiencing rapid growth. Over the past four weeks, cumulative trading volume across all platforms has approached $700 billion, with $42 billion traded in the last 24 hours alone. The number of on-chain perpetual swap protocols has rapidly increased from just two in 2022 to over 80 today. This growth demonstrates the vitality of the market: a thriving market attracts numerous new participants, intensifying competition and challenging the market share and profitability of early entrants.
Hyperliquid's perpetual contract market share dropped to 38%, while Aster and Lighter saw their shares rise.
PANews reported on September 23rd that according to CoinDesk, Hyperliquid, once a leading player in the on-chain perpetual swap market, is gradually being overtaken by emerging platforms such as Lighter and Aster, resulting in a decline in market share. According to Dune data, Hyperliquid's market share of the on-chain cryptocurrency perpetual swap market reached 71% in May of this year, but has now fallen to 38%. Meanwhile, Lighter and Aster's market shares have increased from low single-digit percentages in May to 16.8% and 14.9%, respectively.
The on-chain perpetual swap market is experiencing rapid growth. Over the past four weeks, cumulative trading volume across all platforms has approached $700 billion, with $42 billion traded in the last 24 hours alone. The number of on-chain perpetual swap protocols has rapidly increased from just two in 2022 to over 80 today. This growth demonstrates the vitality of the market: a thriving market attracts numerous new participants, intensifying competition and challenging the market share and profitability of early entrants.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
U.S. Moves Grip on Crypto Regulation Intensifies
The post U.S. Moves Grip on Crypto Regulation Intensifies appeared on BitcoinEthereumNews.com. The United States is contending with the intricacies of cryptocurrency regulation as newly enacted legislation stirs debate over centralized versus decentralized finance. The recent passage of the GENIUS Act under Bo Hines’ leadership is perceived to skew favor towards centralized entities, potentially disadvantaging decentralized innovations. Continue Reading:U.S. Moves Grip on Crypto Regulation Intensifies Source: https://en.bitcoinhaber.net/u-s-moves-grip-on-crypto-regulation-intensifies
Share
BitcoinEthereumNews2025/09/18 01:09
WTI jumps above $70.50 on fears of Iran supply disruption
The post WTI jumps above $70.50 on fears of Iran supply disruption appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI), the US crude oil benchmark
Share
BitcoinEthereumNews2026/03/02 09:44
Top Solana Treasury Firm Forward Industries Unveils $4 Billion Capital Raise To Buy More SOL ⋆ ZyCrypto
The post Top Solana Treasury Firm Forward Industries Unveils $4 Billion Capital Raise To Buy More SOL ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Forward Industries, the largest publicly traded Solana treasury company, has filed a $4 billion at-the-market (ATM) equity offering program with the U.S. SEC to raise more capital for additional SOL accumulation. Forward Strategies Doubles Down On Solana Strategy In a Wednesday press release, Forward Industries revealed that the 4 billion ATM equity offering program will allow the company to issue and sell common stock via Cantor Fitzgerald under a sales agreement dated Sept. 16, 2025. Forward said proceeds will go toward “general corporate purposes,” including the pursuit of its Solana balance sheet and purchases of income-generating assets. The sales of the shares are covered by an automatic shelf registration statement filed with the US Securities and Exchange Commission that is already effective – meaning the shares will be tradable once they’re sold. An automatic shelf registration allows certain publicly listed companies to raise capital with flexibility swiftly. Kyle Samani, Forward’s chairman, astutely described the ATM offering as “a flexible and efficient mechanism” to raise and deploy capital for the company’s Solana strategy and bolster its balance sheet. Advertisement   Though the maximum amount is listed as $4 billion, the firm indicated that sales may or may not occur depending on existing market conditions. “The ATM Program enhances our ability to continue scaling that position, strengthen our balance sheet, and pursue growth initiatives in alignment with our long-term vision,” Samani said. Forward Industries kicked off its Solana treasury strategy on Sept. 8. The Wednesday S-3 form follows Forward’s $1.65 billion private investment in public equity that closed last week, led by crypto heavyweights like Galaxy Digital, Jump Crypto, and Multicoin Capital. The company started deploying that capital this week, announcing it snatched up 6.8 million SOL for approximately $1.58 billion at an average price of $232…
Share
BitcoinEthereumNews2025/09/18 03:42