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Hyperliquid Falls from Its Peak: Can "Trustworthy Neutrality" Save Market Share?
[Crypto World] Hyperliquid founder Jeff Yan recently defended his platform’s “decentralization” commitment. According to him, the platform adheres to three no policies: no private funding, no internal market makers, and no protocol fees. This statement sounds quite firm.
But reality has been somewhat face-slapping. Competitor Lighter was heavily criticized by the community after giving millions of dollars in stealth airdrops to Jump Trading and a well-known VC. Although Hyperliquid claims to be innocent, the market speaks with data — in May, it still captured 75% of the market share, but it quickly dropped below 19%, which is quite embarrassing.
The HYPE token is currently trading at around $24.8, a significant decline compared to its previous glory. Whether the “trustworthy and neutral” image can truly impress the market remains to be seen. A good business model doesn’t necessarily guarantee market confidence; product strength and user experience might be the real key.