$EDGEX EdgeX has the potential to surpass Hyperliquid (HYPE), with a long-term comeback probability of 40% or higher. The core drivers are as follows:

Asset “dimension-shattering” advantage: It will comprehensively expand into U.S. stocks such as NVDA and perpetual commodity contracts. Backed by Amber Group’s background, it captures liquidity from traditional finance and breaks through the ceiling of a purely crypto-only track.

Experience and fee advantages: The Taker fee rate (0.038%) is lower than HYPE, and it has a well-developed mobile app and MPC wallet, which significantly lowers the barrier to entry. It is expected to capture incremental high-frequency and retail market share.

Institution-grade, robust moat: Market maker “DNA” gives it an extremely deep order book and low slippage. The eLP treasury is not only resilient in extreme market conditions—it can even be profitable. LP annualized returns reach 57%, attracting large amounts of capital to move in.

Strong “cash-generating” capability: Annualized protocol revenue is $509 million, second only to HYPE, proving that it has real high-net-worth users. If, in the future, the token model is optimized (e.g., by introducing burns), the massive revenue will directly translate into token upside power.

Flexible multi-chain layout: Supports multi-chain settlement and native USDC integration, making it easier to capture capital.

As long as EdgeX continues to push forward in the RWA track and fills the gaps in token utility, its long-term market value and ecosystem influence are expected to surpass HYPE.