Choosing the Right Track in a Market Downturn: Perp DEX vs. Prediction Markets, Which Is More Worth Participating In

2025-12-29 11:00:13

【Crypto World】Recently, the overall market performance has been lackluster, but a closer look reveals that some emerging tracks such as derivatives DEXs, prediction markets, and others still maintain high enthusiasm.

Let’s start with derivatives DEXs. The growth of Hyperliquid has fully demonstrated that on-chain contract trading indeed has genuine user demand. This track is definitely not a winner-takes-all situation. Among the current players, Lighter has recently attracted a lot of attention. Although there have been some controversies recently due to issues like the witch detection, airdrop rules, and token launch timing, from the perspectives of product experience, team composition, and backing investors, it still has clear competitiveness. Especially the zero-fee model, combined with liquidity support from forex and commodities, makes it somewhat unique. The token details have not been disclosed yet. If the airdrop scale is indeed large, there might be some initial selling pressure, but in the long run, it should gradually stabilize.

Next, looking at prediction markets, this track has recently become the most accessible crypto application to break into mainstream awareness. User numbers are increasing, and the buzz is growing. But challenges also exist—moral hazard, vague event judgment rules, and potential manipulation risks. However, from another perspective, prediction markets are now the most consensus-driven narrative direction. Understanding this track early and experiencing it within controllable limits could be a worthwhile choice.

At the project level, Polymarket currently has no clear timetable for token issuance, and whether Kalshi will issue tokens remains uncertain. On the other hand, Opinion Labs is developing rapidly on the BNB Chain, with trading volume surpassing 10 billion. From a practical usage perspective, Polymarket and Opinion are more suitable for most users to participate in.

HYPE3,82%

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WinterWarmthCat

· 9h ago

Zero fees sound great, but I'm worried it's just another scam to trap retail investors, and they'll dump the price just as aggressively.

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just_vibin_onchain

· 10h ago

Zero fees sound great, but can it really survive? It feels like they will eventually have to rely on airdrops to stay afloat. Lighter's recent witch detection process is so opaque, it's a bit disappointing. Perp DEXs are now all competing fiercely; any one of them dares to claim they are competitive. Instead of worrying about which track to choose, it's better to see whose funding source is the most solid. The airdrop rules have been changed so many times, I no longer believe in this system. Honestly, it still depends on whether their user retention is genuine; everything else is nonsense. Zero fees + foreign exchange liquidity—this combination is indeed interesting, but I wonder if it's sustainable. Don't just look at the team's funding; you also need to see if the community's enthusiasm is real. Lighter has so many controversies; in the short term, it might just be a game of taking over the role of a scapegoat. The derivatives DEX track is so crowded; newcomers really find it hard to stand out. Token is being hyped before it's even public; isn't this tactic a bit old?

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