The Crypto Perp DEX Mania May Quickly Fizzle Out: BitMEX CEO
SINGAPORE — By the time Token2049 reconvenes next year, today’s headline‑grabbing decentralized exchanges like Hyperliquid and Aster may no longer dominate, BitMEX CEO Stephan Lutz told CoinDesk in an interview, warning that their incentive‑heavy business models are too fragile to endure.
Recently, a competitive battle has erupted in the perpetual decentralized exchange (perp DEX) sector, with emerging platforms like Aster and Lighter significantly challenging Hyperliquid’s former dominance.
Last week, Aster surpassed Hyperliquid in terms of 24-hour trading volume. This has sparked a race among competitors to launch new DEXs, aiming to capture market share in this expanding field.
In this context, Justin Sun announced the launch…
