# PerpDex Related Articles

HTX News Center provides the latest articles and in-depth analysis on "PerpDex", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

2026 Crypto Narratives to Watch: Who Will Be the Next Star?

The crypto landscape in 2026 is expected to be shaped by several key narratives. GambleFI, including prediction and information markets like Polymarket and Kalshi, will grow as essential tools for real-world decision-making. Launchpads are making a comeback, with community-led fundraising and ICOs raising over $341 million recently, shifting away from airdrops as the default model. Privacy becomes critical for institutional adoption, with over $500 million invested in privacy-focused dApps and blockchains in 2025, emphasizing selective disclosure. Crypto wallets are evolving into neo-banks, integrating banking features like payments, yield, and compliance. DePINs, after a 2025 slump, are poised for a rebound with proven use cases and revenue, as seen in projects like Helium and Hivemapper. Perpetual DEXs like Hyperliquid and dYdX will continue competing with CEXs by offering capital efficiency and innovative risk management. AI’s role expands beyond trading bots to infrastructure—writing smart contracts, managing risk, and optimizing liquidity. Emerging skills include vibecoding, prompt engineering, and AI-augmented research. Additional trends to watch include x402 (on-chain simplification), bot tokenization, stablecoins, and real-world assets (RWA).

深潮12/30 04:49

2026 Crypto Narratives to Watch: Who Will Be the Next Star?

深潮12/30 04:49

Decrypting the 2025 Crypto Wealth Map: 12 Winners and the Next Wave of Opportunities

The year 2025 marked a pivotal shift for the crypto industry, transitioning from a "recovery year" to one where infrastructure gained mainstream recognition. Key winners emerged, fundamentally reshaping the financial landscape. The U.S., under the Trump administration, became a dominant force by enacting pro-crypto policies like the GENIUS Act and banning CBDCs, positioning itself as a global crypto hub. U.S. spot ETFs, led by products like IBIT, saw massive institutional inflows, with Ethereum, Solana, and XRP ETFs gaining traction. Solana (SOL) evolved beyond a "meme coin casino" to become a core liquidity layer, with on-chain volumes surpassing major centralized exchanges. Base, an Ethereum L2 by Coinbase, leveraged its user base to drive consumer crypto adoption. Ripple and XRP overcame legal challenges, leading to ETF approvals and transforming into a liquidity engine. Privacy coins like Zcash surged, shedding their stigma and attracting institutional interest for compliant use cases. Real-World Assets (RWA) tokenization grew significantly, with SEC support enabling traditional finance integration. Stablecoins surpassed a $300B market cap, cementing their role as critical financial infrastructure. Perpetual DEXs broke credibility barriers, recording $1.2T in monthly volume as traders migrated from CEXs. Prediction markets like Polymarket gained legitimacy, bridging gambling and finance. Hong Kong emerged as a key Asian hub, with growing ETP volumes and a robust regulatory framework for exchanges and stablecoins. Finally, early crypto believers were vindicated as major institutions entered the market, validating their long-term thesis. These winners collectively drove structural shifts, setting the stage for continued innovation and integration in 2026.

比推12/25 15:21

Decrypting the 2025 Crypto Wealth Map: 12 Winners and the Next Wave of Opportunities

比推12/25 15:21

Pantera Capital: 12 Predictions for the Crypto Market in 2026

Pantera Capital's Jay Yu presents 12 predictions for the 2026 crypto market. Key forecasts include the rise of capital-efficient consumer credit using AI and on/off-chain models, and prediction markets diverging into financial and cultural directions. AI will become a mainstream interface for crypto interactions, while tokenized gold gains traction as a leading RWA. A "quantum panic" may spark discussions around Bitcoin’s vulnerability, though no immediate threat exists. Privacy solutions will see unified developer experiences, and digital asset treasuries (DATs) will consolidate. The line between tokens and equity may blur, with more high-quality firms staying private longer. Hyperliquid is expected to dominate perpetual DEXs, and Prop AMMs will go multichain. Stablecoins will be increasingly adopted by fintech firms for international payments.

marsbit12/25 02:31

Pantera Capital: 12 Predictions for the Crypto Market in 2026

marsbit12/25 02:31

Lighter TGE Imminent: Full Overview of Timeline, On-Chain Signals, and Market Pricing

Lighter, a perpetual contract trading platform built on Ethereum L2, is expected to undergo its Token Generation Event (TGE) soon, with market speculation pointing to a window between December 24 and January 1. Key signals include its recent addition to Coinbase's listing roadmap, a Binance perpetual futures pre-market listing, and on-chain movements of 250 million LIT tokens (25% of total supply) suspected to be for airdrop distribution. Data from DeFiLlama shows Lighter leading the Perp DEX sector with $232.3B in trading volume over the past 30 days and a TVL exceeding $1.4B. The project distinguishes itself by leveraging Ethereum's ecosystem rather than building an independent L1, aiming to combine CEX efficiency with DEX security. Pre-market trading on Binance values LIT at around $3.2, implying a fully diluted valuation (FDV) of approximately $3.2B. Market analysts project a range of potential valuations: a bear case of $1.5B FDV ($1.5 per token), a base case of $3B–$4.2B FDV, and a bullish scenario of $7.5B–$12.5B FDV. Users are advised to monitor official announcements closely, as the team is currently reviewing Sybil and wash-trading activities before final airdrop distribution.

Odaily星球日报12/24 04:18

Lighter TGE Imminent: Full Overview of Timeline, On-Chain Signals, and Market Pricing

Odaily星球日报12/24 04:18

Honeypot Finance: The New Full-Stack Perp DEX – Can It Challenge Hyperliquid?

Honeypot Finance, a new full-stack perpetual DEX, is emerging as a potential challenger to established players like Hyperliquid. With a $35M valuation and backing from investors like Mask Network, it aims to reshape the Perp DEX landscape through a unique hybrid model combining order book efficiency with AMM resilience. Unlike traditional models, Honeypot integrates an order book (via Orderly Network) for low-slip execution during normal conditions and a proprietary AMM that activates during high volatility, ensuring continuous tradability. It also introduces a structured risk management system featuring layered vaults—allowing conservative capital to enter "Priority Vaults" for safer yields, while risk-tolerant users opt for "Secondary Vaults" for higher returns. The platform employs a multi-stage liquidation process to minimize unfair liquidations and avoid automatic deleveraging (ADL) unless absolutely necessary. The ecosystem is supported by a closed-loop tokenomics model. The $HPOT token (500M fixed supply) benefits from protocol fee buybacks and burns, tying its value to real revenue. HoneyGenesis NFTs act as yield-weight amplifiers, rewarding long-term stakers or offering permanent boost options when burned. Having already facilitated over $120M in total trading volume ($20M in perpetuals), Honeypot aims to create a synergistic system—from meme launchpad (Pot2Pump) to derivatives trading—that captures and sustains value through actual usage rather than inflationary incentives. Its success hinges on attracting sustained liquidity, proving its risk infrastructure under stress, and validating its full-stack integration approach.

marsbit12/23 09:03

Honeypot Finance: The New Full-Stack Perp DEX – Can It Challenge Hyperliquid?

marsbit12/23 09:03

Coinbase Enters Prediction Market, AAVE Governance Controversy: What's the Overseas Crypto Community Talking About Today?

Over the past 24 hours, the crypto market has shown strong momentum. Key developments include Coinbase's official entry into the prediction market space through its acquisition of The Clearing Company, and ongoing governance controversy within the AAVE community regarding token incentives and control. In ecosystem news, Solana introduced Kora, a new fee layer designed to reduce user transaction costs. Additionally, competition in the Perp DEX sector intensified as Hyperliquid and Lighter engaged in a public rivalry, sparking discussions about the future of decentralized derivatives. Other notable events include Kalshi's launch of a research division and its expansion to BSC, while AAVE's founder and a major whale made significant token purchases despite governance disputes. Popular articles explored the role of DeFi "curators" and Ethereum's evolution into global financial infrastructure.

marsbit12/23 05:15

Coinbase Enters Prediction Market, AAVE Governance Controversy: What's the Overseas Crypto Community Talking About Today?

marsbit12/23 05:15

UNI Burn Proposal Voting, Lighter TGE Expectations: A Look at Major Ecosystem Movements

In the past 24 hours, the crypto market saw significant developments across multiple sectors. Key discussions revolved around Uniswap's final voting phase for the "Unification" proposal, which includes burning 100 million UNI and activating fee mechanisms, raising debates on governance alignment and value capture. Lido’s low market cap despite high TVL sparked conversations about governance token valuation challenges. CZ highlighted privacy concerns in crypto payments, amplifying discussions on transactional transparency. Solana ecosystem attracted attention with energy company Fuse Energy entering DePIN, signaling real-world adoption. Ethereum witnessed shifting DEX fee dynamics, with Curve gaining ground against Uniswap, while ERC-8004 for trustless AI agents advanced toward mainnet launch. Perp DEX projects like Lighter faced TGE timing uncertainties, and Hyperliquid’s $1 billion回购 strategy triggered debates on balancing buybacks with growth investments. Infrastructure updates included MegaETH opening its mainnet for developers, and traditional finance integration accelerated with SoFi Bank launching SoFiUSD—the first nationally chartered U.S. bank-issued stablecoin. Visa’s stablecoin settlement pilot reached a $3.5 billion annualized volume, and PayPal’s PYUSD partnered with USDAI to enhance interoperability. These movements highlight ongoing convergence between crypto and traditional finance, alongside evolving DeFi economic models and privacy needs.

marsbit12/19 06:57

UNI Burn Proposal Voting, Lighter TGE Expectations: A Look at Major Ecosystem Movements

marsbit12/19 06:57

Hot Perp DEX Recent Updates: Find the Best Way to Participate

Despite a generally cool market, Perp DEX platforms remain highly active due to airdrop incentives and stable trading volumes. Here are key updates from three popular Perp DEXs: **StandX** launched its mainnet trading points program, with daily volume exceeding $100 million. Users earn points by depositing DUSD, providing liquidity, trading, or inviting friends. A trading competition is planned, along with more trading pairs. **Aster**, currently leading in daily trading volume among Perp DEXs, continues its monthly airdrop campaigns. Phase 4 is ongoing until Dec 22, and Phase 5 will run from Dec 22 to Feb 1, 2026, distributing 1.2% of total supply. Aster has also increased its daily buyback and burn rate to ~$4 million and launched a human vs. AI trading competition. **Lighter** has been added to Coinbase's listing roadmap, but its TGE may be delayed until late December or early January. Its points system for traders remains opaque ("a blind box"), considering factors like volume and PnL. The team emphasizes a long-term approach to token value rather than a pump at launch.

Odaily星球日报12/18 03:14

Hot Perp DEX Recent Updates: Find the Best Way to Participate

Odaily星球日报12/18 03:14

From 'Criminal Cycle' to Value Return: Four Major Opportunities in the 2026 Crypto Market Outlook

The crypto market is undergoing a necessary "purification" phase, shifting from a "crime cycle" of high-FDV, low-utility projects and pump-and-dump schemes towards value-driven growth. Key 2025 trends included maturation of regulated stablecoins (with over $100B in net growth), the rise of PerpDEXs (reaching $230B open interest), and Digital Asset Trusts (DATs) attracting TradFi interest. However, many DATs and airdrops faltered, highlighting the need for real utility and sustainable tokenomics. Looking ahead to 2026, four major opportunities are identified: 1. **Prediction Markets:** Platforms like Polymarket and Kalshi, backed by institutional interest and mainstream distribution, are set to grow significantly. 2. **Stablecoin Payments:** Supported by clear regulations (e.g., the Genius Act) and adoption by giants like Visa and Stripe, stablecoin transaction volumes are surging. 3. **Mobile dApps:** With improved user onboarding and growing mobile transaction trends, apps like Fomo App are driving accessibility and adoption. 4. **Real Revenue and Value Accrual:** Protocols generating actual income (e.g., via buybacks) and sharing profits with token holders will thrive. The focus shifts from speculation to sustainable business models in trading, yield, and payments. The industry is evolving towards practical applications, genuine revenue, and clearer value propositions, making 2026 a pivotal year for crypto's maturation.

深潮12/09 06:01

From 'Criminal Cycle' to Value Return: Four Major Opportunities in the 2026 Crypto Market Outlook