Arthur Hayes: Perp DEX Competition Heating Up, HYPE Faces Valuation Multiple Compression Risk
By: theblockbeats.news|2025/10/21 15:15:54
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BlockBeats News, October 21st, BitMEX co-founder Arthur Hayes posted on social media, stating that HYPE faces the risk of valuation multiple compression. Annual revenue has almost returned to its historical high, but the token price is much lower. In the increasingly competitive environment of decentralized perpetual contract exchanges (Perp DEX), speculators are unwilling to pay a high premium for uncertain future revenue.
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