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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.
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Trustworthy and neutral? Market share has dropped from 75% to 19%, and that’s the answer.
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A typical paper promise; real market choices in gold and silver are the most ruthless.
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19% Haha, now it’s awkward.
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No matter how beautifully decentralization is described, user flight is the biggest vote.
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HYPE has fallen so much, who’s to blame...
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I just want to know if this wave can turn around; it feels uncertain.
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Another "we are different" project, but still as embarrassing as before.
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Pure in theory, but the market doesn’t believe it, brother.
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Jeff Yan's three-no policy made me want to applaud, but the market's one sentence: Data will speak.
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From top influencer to laggard, HYPE's move this time is arguably the comedy of the year in the crypto world. I don't know whether to laugh or cry.
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So, no matter how firm the promise, it can't withstand the market's ruthless backstabbing. Is the lesson of 76 percentage points worth it, everyone?
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Lighter appears so innocent when criticized; only when falling behind do you realize what "innocence can't buy the market" means.
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Today's leek diary: I found out that the more you tout decentralization, the more hurt you get. This isn't a rule, it's a curse.
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Look at HYPE at over 24 dollars. Who else wants to talk about the story of "trustworthy neutrality"?