#Perp DEX市场竞争 Seeing Haseeb's prediction, I can't help but recall some of the cycles I've observed over the years. The projection of Bitcoin reaching $150,000 isn't entirely out of the realm of possibility, but he also mentions a decline in market share—that's the point worth pondering.

I remember back in 2017, Bitcoin's dominance was over 95%, and the entire market revolved around it. Later, Ethereum emerged, the narrative of public chains gained popularity, and its market share steadily declined. The current logic is similar—total wealth may be increasing, but the distribution method is changing. BTC's price rises, but the prosperity of its ecosystem determines its "voice" in the entire crypto world.

The most interesting part is the judgment on Perp DEX, where three platforms capture 90% of the market share. This reminds me of the history of exchange competition. Does anyone remember how many exchanges were vying for the top spot before? In the end, they all turned into bubbles. The Perp DEX track is now very lively, but this prediction hints at a profound reality—most projects ultimately won't reach the end. Survival of the fittest, I've said it a thousand times, but every new track needs to be re-verified.

The forecast of a 60% growth in the stablecoin market, combined with the increase of equity investment share to over 20%, signals that crypto is evolving from a "revolution" to an "institutionalization." This shift is a sign of maturity but also indicates that the wild growth period is truly over. Barriers will rise, and the survival of the fittest will be more brutal. Those still hoping for the "next 100x coin" should wake up.