2025-12-05 03:20:59

Does anyone still remember that on-chain derivatives protocol that was all the rage in 2021? Back then, dYdX was the gold standard in the DEX space. But what happened? Now in 2025, Hyperliquid and Astar have suddenly taken off, while the old frontrunner has quietly faded from view.

What does this tell us? Timing can sometimes be even more critical than the technology itself. No matter how great your product is, if you miss the right moment, you’ll still get swept away by the next wave. That’s just how brutal the pace of iteration is in Web3—the kings of today might just be a footnote tomorrow.

So don’t just focus on what’s hot right now; think about how long this trend can really last. After all, history has already shown us: sometimes, longevity matters more than speed.

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gas_fee_therapist

· 38m ago

dYdX is being dragged out and criticized again, interesting. But to be honest, who can really predict which protocol will survive until next year?

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ILCollector

· 12-05 15:45

What happened with dYdX really hits hard. The more hyped it was back then, the more awkward it is now. To be honest, Hyperliquid really nailed the timing, but don’t jump to conclusions yet—who knows what will happen in this bear market. Timing is important, I agree, but you also need some real skills to survive. You can’t rely on luck alone for long. Makes me think of all those coins from 2021. Feels like history is really repeating itself. Instead of chasing the next big thing, maybe we should think about whether we’ll even still be here in a few years. The funniest part is, the people who hyped dYdX the most back then are now hyping new projects, haha. Well said—living long enough to see it all. I don’t believe in any “eternal ceiling.” That’s just the fate of Web3. Except for Bitcoin and Ethereum, everything else is up to luck.

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MaticHoleFiller

· 12-05 03:50

I really have nothing to say about this dYdX situation. I wonder how those guys who went all in back then are doing now...

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GateUser-a5fa8bd0

· 12-05 03:48

dYdX was indeed at its peak back then, now nobody really talks about it anymore. Just look at how hyped Hyperliquid is, it’s honestly shocking. That’s how Web3 is—the waves in front always get washed up on the shore. Timing is everything. No matter how strong the technology is, it can’t withstand bad timing. That’s why I choose to hold long-term now instead of chasing hypes. Survive long enough, and you’ll see it all. The story of dYdX is pretty ironic. What was once the ceiling just vanished. To those still going all in on some new project, remember the lesson from dYdX. Hyperliquid is hot because it got the timing right, not just because the product is good. This hype—comes fast, goes fast. The ones who truly make money are always those who can hold, not the ones chasing the latest trend.

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Liquidated_Larry

· 12-05 03:47

dYdX really is a textbook example of what not to do. Who could have imagined it back then?

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NFTregretter

· 12-05 03:47

dYdX also brought about its own downfall—the decisions made after the v4 migration to the blockchain were truly absurd.

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GasFeeSurvivor

· 12-05 03:45

That dYdX wave was really something. Who could have seen it coming back then? Feels like it disappeared in the blink of an eye.

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GasSavingMaster

· 12-05 03:39

dYdX really got slapped in the face; just a little off in timing and it was all for nothing. --- To be honest, even having top-notch tech is useless—it all depends on who catches the wave. --- Why did Hyperliquid take off? This market is really fickle. --- Looks like you just have to survive long enough, but who can actually last that long? --- This is Web3—the myths get busted insanely fast. --- The early kings are probably all lying low in the shadows now. --- But then again, it’s hard to say how long Hyperliquid can hold on. --- Getting the timing right really can be a matter of life and death; dYdX’s example really hits hard.

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ImaginaryWhale

· 12-05 03:35

dYdX was indeed in the spotlight back then, but to be honest, it already felt a bit overheated at the time, so this outcome isn’t surprising. That being said, Hyperliquid really caught the wave at the right moment, but how did Astar suddenly pop up too? What’s the logic behind these two celebrating together? That’s just how Web3 is—this year’s favorite becomes next year’s trash. What’s scary is that there are still tons of people going all-in and chasing the highs. There’s nothing wrong with what you said—“living longer is more important than running faster”—but the problem is, there are way too many projects that don’t last long... Another batch of projects will die this round, and in the next round, new ones will get hyped up again. It’s a never-ending cycle.

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