Perp DEXs now handle more than 20% of global perpetual trading volume. that’s a much bigger shift than most people realize. A few years ago, traders trusted CEXs for everything. now the top perp DEXs (descending order) are already competing seriously with CEX experience: ➫ @HyperliquidX ➫ @Aster_DEX ➫ @Lighter_xyz ➫ @edgeX_exchange ➫ @grvt_io what’s interesting is that the growth strategy is changing too. early crypto growth was mostly: ➫ token hype ➫ exchange listings ➫ airdrop farming now it’s becoming: ➫ better UX ➫ loyalty loops ➫ retention ➫ onchain habits That’s why protocols like @HyperliquidX feels important. it didn’t just attract users. it kept them. even traditional finance players are starting to notice: ➫ funds buying $HYPE ➫ real market data moving onchain ➫ more serious trading infra being built around DeFi Feels like the gap between “DeFi” and real trading infrastructure is disappearing very fast now 👀 #HYPE#