IMD(@_exnihil0_):The altcoin market has spoken It says the age of pure speculation for tokens is over And from now on, projects will have to actually deliver real value to tokenholders Projects like @HyperliquidX, @AerodromeFi, @JupiterExchange, and @SkyEcosystem From 2022 - 2025, OTHERS.D crashed from 20% to sub-7% This seems to be directly correlated to the material increase in holders' revenue as a % share of total DeFi revenue Since 2024, this share has increased from 17.4% to 35.6% - over a 2x "But it's all Hyperliquid" Nope. Even if you exclude Hyperliquid, the % moves from 17.2% in 2024 to 26% in 2026 - a 50% increase Data from @DefiLlama,this data excludes Tether and Circle

2026.07.09 22:59

The altcoin market has spoken It says the age of pure speculation for tokens is over And from now on, projects will have to actually deliver real value to tokenholders Projects like @HyperliquidX, @AerodromeFi, @JupiterExchange, and @SkyEcosystem From 2022 - 2025, OTHERS.D crashed from 20% to sub-7% This seems to be directly correlated to the material increase in holders' revenue as a % share of total DeFi revenue Since 2024, this share has increased from 17.4% to 35.6% - over a 2x "But it's all Hyperliquid" Nope. Even if you exclude Hyperliquid, the % moves from 17.2% in 2024 to 26% in 2026 - a 50% increase Data from @DefiLlama,this data excludes Tether and Circle