Hyperliquid's Builder Code total revenue exceeds 10 million USD, primarily from the Telegram trading bot pvp.trade and the cross-chain trading platform Axiom. This mechanism allows DeFi developers to charge on-chain trading fees, applicable to perpetual trading, and users can authorize and revoke permissions at any time.

Jin10 Data reported on May 15 that Open Source stated during an institutional research meeting on May 14 that compared to the previous two years, PVP prices have dropped significantly and are currently stabilizing. In the future, as the company's product structure upgrades and the proportion of high-end products increases, the average price of products will rise. Additionally, the company's PVP export ratio is about 50%, with export regions primarily in Europe, the Middle East, Southeast Asia, and India, while the export to the United States is relatively low, around 3%–5%, and is less affected by the China-U.S. trade tariffs.

Odaily Planet Daily News According to Jason Yanowitz of Empire, if it weren't for the spending spree of over 20 billion US dollars from the end of last year to this year by MicroStrategy founder Michael Saylor, the price of BTC would be much lower than it is now. Therefore, he believes that this puts us in the early stages of this cycle. In addition, he mentioned, 'We have not seen enough venture capital, it's very PvP.' His views are supported by Dan Matuszewski of CMS Holdings, who said, 'My guess is 2021'

Empire analyst Jason Yanowitz pointed out that besides the BTC purchased by Strategy, the market is still in its early stages and relies mainly on small players in the PvP stage trading with each other. Dan Matuszewski said that the current market lacks liquidity and substantial capital inflows. Although the market position is uncertain, regulatory policies may become a catalyst.

Jinse Finance reported that on February 7th, Vitalik Buterin, co-founder of Ethereum, stated in a post that when encryption Twitter and venture capital firms believe that most users are losing money in PvP.

Ethereum founder Vitalik expressed discomfort with the market's fit with the encryption community and venture capital, which has led to user losses in PvP gaming projects. He also feels frustrated and uncomfortable with suggestions from some who do not understand the internal structure of the Ethereum Foundation regarding personnel changes. However, he still firmly believes that he is worthy of fighting for valuable things and deserves to strive for them.

BlockBeats News, on January 10th, CryptoQuant CEO Ki Young Ju stated on his social media platform that the altcoin market is currently in a zero-sum game.

Core Foundation launches Core 2025 Game Hackathon, offering a prize pool of $380,000, lasting for four weeks, requiring participants to build high-performance, decentralized games on CoreBlock on-chain, exploring more possibilities of BTC in the gaming field. The track categories include casual games, social PvP games, and puzzle games.

BlockBeats news, on January 19th, encryption KOL Ansem stated on his social media platform, "You don't understand that we have been using MEME to PVP each other, with up to 400,000 holders at most. You are not ready to face it when the number of holders is 40 million instead of 40.