Appicsの‌価格APX

➄ 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗔𝗿𝗰𝗵𝗶𝘁𝗲𝗰𝘁𝘂𝗿𝗲 𝗗𝗲𝗲𝗽 𝗗𝗶𝘃𝗲 5.1 ) Infrastructure Performance Analysis ▶ Chain-Level Volume Distribution 5.2 ) High-Volatility Market Period Analysis (May 4 - June 3, 2025) ▶ Market Conditions Defined: ➤ Timeline: May 4 - June 3, 2025 (30-day period) ➤ Volatility Characteristics: Extreme variance in protocol performance (-32.7% to +1354.6% range) ➤ Market Stress Indicators: - 15.4% of protocols (2 out of 13) experienced negative performance - 1 major protocol ( @vertex_protocol Perps) declined >20% (-32.7%) - High volatility with individual protocol changes spanning 1,387 percentage points - Mixed market signals: 84.6% of protocols grew while others declined ▶ Hyperliquid's Performance During High-Volatility Period: Resilient Market Position: ➤ Hyperliquid: +151.5% growth (ranked 5th out of 13 protocols by performance) ➤ Maintained volume dominance despite some competitors experiencing explosive growth: - 7.9x advantage over @JupiterExchange Perps (competitor grew +365.3%) - 9.1x advantage over @APX_Finance (competitor grew +1,354.6%) - 27.6x advantage over Apex Omni (competitor declined -7.0%) - 38.0x advantage over @dYdX V4 (competitor grew +247.5%) Key Finding: During this high-volatility period where individual protocols saw changes ranging from -32.7% to +1,354.6%, @HyperliquidX maintained its competitive volume advantages across all major competitors, demonstrating network effects strength during market uncertainty. 5.3 ) Architectural Advantage Breakdown ▶ App-Chain Solutions Superiority: ➤ HyperEVM: Purpose-built consensus, unlimited throughput, microsecond latency ➤ Performance Gap: 38x more volume than dYdX V4 (also custom chain) ➤ Infrastructure ROI: 4-9x better revenue per infrastructure dollar vs competitors ▶ General-Purpose L1/L2 Limitations: ➤ Shared Resources: Block space competition creates latency issues ➤ Generic Optimization: Virtual machines not optimized for order book operations ➤ MEV Extraction: Reduces trader returns and execution quality ➤ Scaling Constraints: Infrastructure bottlenecks limit individual protocol growth ▶ Ecosystem-Native Constraints: ➤ Solana Example: Despite low costs and fast transactions, combined ecosystem (5 protocols) = 7.2x smaller than Hyperliquid alone ➤ Network Effects Reality: Purpose-built infrastructure creates unassailable advantages