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Perpdex is probably the current hope of crypto survival.
- $HYPE Since the beginning of the year, it has increased from 2x to 5x. The top revenue market (considering only dapps).
The price is about to break the ATH FDV, surpassing $DOGE.
- Recently, there was the Lighter airdrop >$600M the biggest airdrop project of 2025.
- Variational perp just followed Lighter, which just announced an additional raise $50M and is highly anticipated.
Many projects are shifting towards perpdex as their main build direction.
The current crypto landscape is narrowing down to a few trends. GameFi, NFT,... the sectors that made waves in previous seasons are now almost silent.
What do you think is the bottom of this cycle, and when will it occur?