DEX adoption, HIP-3 fuel $200 HYPE case as rivals threaten Hyperliquid’s dominance

Cantor Fitzgerald has projected a potential HYPE rally to $200 by 2035, driven by increased decentralized exchange (DEX) adoption and the introduction of Hyperliquid's HIP-3 growth mode, which aims to enhance user engagement through reduced transaction fees. However, rival DEXs are gaining traction with attractive reward farming systems, posing a challenge to Hyperliquid's market dominance.
The anticipated rise in HYPE's value is significant for Hyperliquid, as it seeks to solidify its position in the competitive DEX landscape. The successful implementation of HIP-3 could attract more traders and bolster the platform's user base, potentially leading to increased trading volumes and market share.
The cryptocurrency market is experiencing heightened competition, with platforms like Lighter surpassing Hyperliquid in trading volume, indicating a shift in user preferences. Additionally, concerns over potential sell pressure from Hyperliquid's recent $314 million unlock and bearish market patterns add complexity to the outlook, highlighting the volatility and uncertainty that characterize the current crypto environment.

DEX adoption, HIP-3 fuel $200 HYPE case as rivals threaten Hyperliquid’s dominance