Crypto Projects
July 27, 2025
GMX's Decline: From Real Yield Pioneer to Struggling Against DeFi Rivals
GMX, once a DeFi leader, is losing ground to Hyperliquid, dYdX v4, and Drift after a $40M hack exposed its old model's flaws. Competitors offer superior speed, lower fees, and better trading experiences in the evolving DeFi derivatives landscape.