How Hyperliquid is Redefining Decentralized Perpetuals in 2025


While most exchanges compete on liquidity or UI, Hyperliquid is rewriting the rules entirely.
This decentralized perps exchange has not only survived the bear market—it’s thriving. Backed by real revenue, a growing user base, and a unique listing model, Hyperliquid is emerging as the “Uniswap of Perps.”
The Reverse Auction Listing System
Hyperliquid introduces a novel reverse auction system for listing tokens. Bidders compete for tickers, with starting prices set at 2x the previous auction. Some tickers have fetched over $1 million, with the fees used for buybacks and burns—driving long-term value to the ecosystem.
This model isn’t just a gimmick. It introduces scarcity and gamification into token listings—something no other exchange is doing at this level.
Sustainable Revenue and Strong UX
Unlike many DEXs, Hyperliquid generates consistent trading fees, even in sideways markets. Its EVM-compatible L1 is coming soon, which could further cement it as the go-to perps exchange for serious traders.
Product-Market Fit in Action
In a space where hype often outpaces adoption, Hyperliquid offers both. It's not trying to be first—it's trying to be the best. The community listing process, upcoming L1, and high trading volumes all suggest it’s built for long-term relevance.
Smarter Trading with Token Metrics
To navigate emerging platforms like Hyperliquid, sophisticated analytics are key. Token Metrics provides a powerful suite of tools—AI-driven trading signals, token grades, on-chain data, and market indicators—to help traders make confident, data-backed decisions. Whether you're evaluating new token listings, monitoring market sentiment, or comparing DEX performance, Token Metrics equips you with everything you need to stay ahead of the curve.
Final Take
Hyperliquid is more than just another DEX—it’s a case study in how to build sustainable tokenomics and community alignment. If you’re looking for the next big infrastructure play in trading, don’t sleep on this one. And if you want to trade smarter, platforms like Token Metrics can be your secret weapon in decoding the market's next moves.
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Our x402 Integration Is Live: Pay-Per-Call Access to Token Metrics—No API Key Required
Developers are already shipping with x402 at scale: 450,000+ weekly transactions, 700+ projects. This momentum is why our Token Metrics x402 integration matters for agents and apps that need real crypto intelligence on demand. You can now pay per API call using HTTP 402 and the x-coinbase-402 header, no API key required.

Summary: Pay per API call to Token Metrics with x402 on Base using USDC or TMAI, set x-coinbase-402: true, and get instant access to trading signals, grades, and AI reports.
Check out the x402 ecosystem on Coingecko.

What You Get
Token Metrics now supports x402, the HTTP-native payment protocol from Coinbase. Users can call any public endpoint by paying per request with a wallet, eliminating API key management and upfront subscriptions. This makes Token Metrics data instantly accessible to AI agents, researchers, and developers who want on-demand crypto intelligence.
x402 enables truly flexible access where you pay only for what you use, with transparent per-call pricing in USDC or TMAI. The integration is live now across all Token Metrics public endpoints, from trading signals to AI reports. Here's everything you need to start calling Token Metrics with x402 today.
Quick Start
Get started with x402 + Token Metrics in three steps.
- Create a wallet client: Follow the x402 Quickstart for Buyers to set up a wallet client (Node.js with viem or Python with eth-account). Link: https://docs.cdp.coinbase.com/x402/docs/quickstart-buyers
- Set required headers: Add x-coinbase-402: true to any Token Metrics request. Optionally set x-payment-token: tmai for a 10% discount (defaults to usdc). Do not send x-api-key when using x402.
- Call any endpoint: Make a request to https://api.tokenmetrics.com/v2/[endpoint] with your wallet client. Payment happens automatically via x402 settlement.
That is it. Your wallet pays per call, and you get instant access to Token Metrics data with no subscription overhead.
Required Headers

Endpoint Pricing
Transparent per-call pricing across all Token Metrics public endpoints. Pay in USDC or get 10% off with TMAI.




All prices are per single call. Paying with TMAI automatically applies a 10% discount.
Try It on x402 Composer
If you want to see x402 + Token Metrics in action without writing code, head to x402 Composer. Composer is x402scan's playground for AI agents that pay per tool call. You can open a Token Metrics agent, chat with it, and watch real tool calls and USDC/TMAI settlements stream into the live Feed.
Composer surfaces active agents using Token Metrics endpoints like trading signals, price predictions, and AI reports. It is a great way to explore what is possible before you build your own integration. Link: https://x402scan.com/composer
Why x402 Changes the Game
Traditional API access requires upfront subscriptions, fixed rate limits, and key management overhead. x402 flips that model by letting you pay per call with a crypto wallet, with no API keys or monthly commitments. This is especially powerful for AI agents, which need flexible, on-demand access to external data without human intervention.
For Token Metrics, x402 unlocks agentic commerce where agents can autonomously pull crypto intelligence, pay only for what they use, and compose our endpoints with other x402-enabled tools like Heurist Mesh, Tavily, and Firecrawl. It is HTTP-native payments meeting real-world agent workflows.
What is x402?
x402 is an open-source HTTP-native payment protocol developed by Coinbase. It uses the HTTP 402 status code (Payment Required) to enable pay-per-request access to APIs and services. When you make a request with the x-coinbase-402 header, the server returns a payment challenge, your wallet signs and submits payment, and the server fulfills the request once settlement is verified.
The protocol runs on Base and Solana, with USDC and TMAI as the primary payment tokens. x402 is designed for composability, agents can chain multiple paid calls across different providers in a single workflow, paying each service directly without intermediaries. Learn more at the x402 Quickstart for Buyers: https://docs.cdp.coinbase.com/x402/docs/quickstart-buyers
FAQs
Do I need an API key to use x402 with Token Metrics?
No. When you set x-coinbase-402: true, your wallet signature replaces API key authentication. Do not send x-api-key in your requests.
Can I use x402 with a free trial or test wallet?
Yes, but you will need testnet USDC or TMAI on Base Sepolia (testnet) for development. Production calls require mainnet tokens.
How do I see my payment history?
Check x402scan for transaction logs and tool call history. Your wallet will also show outgoing USDC/TMAI transactions. Visit https://www.x402scan.com.
What happens if my wallet balance is too low?
The x402 client will return a payment failure before making the API call. Top up your wallet and retry.
Can I use x402 in production apps?
Yes. x402 is live on Base mainnet. Set appropriate spend limits and handle payment errors gracefully in your code.
Next Steps
- Read the x402 Quickstart for Buyers: https://docs.cdp.coinbase.com/x402/docs/quickstart-buyers
- Explore Token Metrics agents on Composer: https://x402scan.com/composer
- Browse endpoint docs and pricing: https://app.tokenmetrics.com/en/api-plans
- Join the conversation: Follow @tokenmetrics and @x402scan on X (Twitter)
Disclosure
Educational and informational purposes only. x402 involves crypto payments on public blockchains. Understand the risks, manage your wallet security, and test thoroughly before production use. Token Metrics does not provide financial advice.

Uniswap Price Prediction 2027: $13.50-$43 Target Analysis
Uniswap Price Prediction: Market Context for UNI in the 2027 Case
DeFi protocols are maturing beyond early ponzi dynamics toward sustainable revenue models. Uniswap operates in this evolving landscape where real yield and proven product market fit increasingly drive valuations rather than speculation alone. Growing regulatory pressure on centralized platforms creates tailwinds for decentralized alternatives.
The price prediction scenario bands below reflect how UNI might perform across different total crypto market cap environments. Each tier represents a distinct liquidity regime, from bear conditions with muted DeFi activity to moon price prediction scenarios where decentralized infrastructure captures significant value from traditional finance.

Disclosure
Educational purposes only, not financial advice. Crypto is volatile, do your own research and manage risk.
How to read this price prediction:
Each band blends cycle analogues and market cap share math with TA guardrails. Base assumes steady adoption and neutral or positive macro. Moon layers in a liquidity boom. Bear assumes muted flows and tighter liquidity.
TM Agent baseline:
Token Metrics TM Grade is 69%, Buy, and the trading signal is bullish. Price prediction scenarios cluster roughly between $6.50 and $28, with a base case price target near $13.50.
Live details: Uniswap Token Details
Affiliate Disclosure: We may earn a commission from qualifying purchases made via this link, at no extra cost to you.
Key Takeaways
- Scenario driven, outcomes hinge on total crypto market cap, higher liquidity and adoption lift the bands.
- Fundamentals: Fundamental Grade 79.88% (Community 77%, Tokenomics 100%, Exchange 100%, VC 66%, DeFi Scanner 62%).
- Technology: Technology Grade 86.88% (Activity 72%, Repository 72%, Collaboration 100%, Security N/A, DeFi Scanner 62%).
- TM Agent gist: bullish bias with a base case near $13.50 and a broad range between $6.50 and $28.
- Education only, not financial advice.
Uniswap Price Prediction: Scenario Analysis
Token Metrics price prediction scenarios span four market cap tiers, each representing different levels of crypto market maturity and liquidity:
8T Market Cap Price Prediction:
At an 8 trillion dollar total crypto market cap, UNI price prediction projects to $8.94 in bear conditions, $10.31 in the base case, and $11.68 in bullish scenarios.

16T Market Cap Price Prediction:
Doubling the market to 16 trillion expands the price prediction range to $14.17 (bear), $18.29 (base), and $22.41 (moon).

23T Market Cap Price Prediction:
At 23 trillion, the price forecast scenarios show $19.41, $26.27, and $33.14 respectively.

31T Market Cap Price Prediction:
In the maximum liquidity scenario of 31 trillion, UNI price prediction could reach $24.64 (bear), $34.25 (base), or $43.86 (moon).

Each tier assumes progressively stronger market conditions, with the base case price prediction reflecting steady growth and the moon case requiring sustained bull market dynamics.
Why Consider the Indices with Top-100 Exposure
Uniswap represents one opportunity among hundreds in crypto markets. Token Metrics Indices bundle UNI with top one hundred assets for systematic exposure to the strongest projects. Single tokens face idiosyncratic risks that diversified baskets mitigate.
Historical index performance demonstrates the value of systematic diversification versus concentrated positions.
What Is Uniswap?
Uniswap is a decentralized exchange protocol built on Ethereum that enables token swaps using automated market makers instead of order books. It aims to provide open access to liquidity for traders, developers, and applications through transparent smart contracts.
UNI is the governance token that lets holders vote on protocol upgrades and parameters, aligning incentives across the ecosystem. The protocol is a market leader in decentralized exchange activity with broad integration across wallets and DeFi apps.
Token Metrics AI Analysis for Price Prediction
Token Metrics AI provides comprehensive context on Uniswap's positioning and challenges that inform our price prediction models.
Vision: Uniswap aims to create a fully decentralized and permissionless financial market where anyone can trade or provide liquidity without relying on centralized intermediaries. Its vision emphasizes open access, censorship resistance, and community driven governance.
Problem: Traditional exchanges require trusted intermediaries to match buyers and sellers, creating barriers to access, custody risks, and potential for censorship. In DeFi, the lack of efficient, trustless mechanisms for token swaps limits interoperability and liquidity across applications.
Solution: Uniswap solves this by using smart contracts to create liquidity pools funded by users who earn trading fees in return. The protocol automatically prices assets using a constant product formula, enabling seamless swaps. UNI token holders can participate in governance, influencing parameters like fee structures and protocol upgrades.
Market Analysis: Uniswap operates within the broader DeFi and Ethereum ecosystems, competing with other decentralized exchanges like SushiSwap, Curve, and Balancer. It is a market leader in terms of cumulative trading volume and liquidity depth. Adoption is strengthened by strong developer activity, widespread integration across wallets and dApps, and a large user base.
Fundamental and Technology Snapshot from Token Metrics
Fundamental Grade: 79.88% (Community 77%, Tokenomics 100%, Exchange 100%, VC 66%, DeFi Scanner 62%).

Technology Grade: 86.88% (Activity 72%, Repository 72%, Collaboration 100%, Security N/A, DeFi Scanner 62%).

Catalysts That Skew Bullish for Price Prediction
- Institutional and retail access expands with ETFs, listings, and integrations
- Macro tailwinds from lower real rates and improving liquidity
- Product or roadmap milestones such as upgrades, scaling, or partnerships
- These factors could push UNI toward higher price prediction targets
Risks That Skew Bearish for Price Prediction
- Macro risk off from tightening or liquidity shocks
- Regulatory actions or infrastructure outages
- Competitive displacement across DEXs or changes to validator and liquidity incentives
- These factors could push UNI toward lower price prediction scenarios
FAQs: Uniswap Price Prediction
Will UNI hit $20 by 2027 according to price predictions?
The 16T price prediction scenario shows UNI at $18.29 in the base case, which does not exceed $20. However, the 23T base case shows $26.27, surpassing the $20 target. Price prediction outcome depends on total crypto market cap growth and Uniswap maintaining market share. Not financial advice.
Can UNI 10x from current levels based on price predictions?
At current price of $6.30, a 10x would reach $63.00. This falls within none of the listed price prediction scenarios, which top out at $43.86 in the 31T moon case. Bear in mind that 10x returns require substantial market cap expansion beyond our modeled scenarios. Not financial advice.
What price could UNI reach in the moon case price prediction?
Moon case price predictions range from $11.68 at 8T to $43.86 at 31T total crypto market cap. These price prediction scenarios assume maximum liquidity expansion and strong Uniswap adoption. Not financial advice.
What is the 2027 Uniswap price prediction?
Based on Token Metrics analysis, the 2027 price prediction for Uniswap centers around $13.50 in the base case under current market conditions, with a range between $6.50 and $28 depending on market scenarios. Bullish price predictions with strong market conditions range from $10.31 to $43.86 across different total crypto market cap environments.
What drives UNI price predictions?
UNI price predictions are driven by DEX trading volume, liquidity provider activity, governance participation, protocol fee revenue, and competition from other decentralized exchanges. The strong technology grade (86.88%) and bullish signal support upward price potential. DeFi adoption rates and regulatory clarity around decentralized exchanges remain primary drivers for reaching upper price prediction targets.
Can UNI reach $30-$40 by 2027?
According to our price prediction models, UNI could reach $30-$40 in the 23T moon case ($33.14) and in the 31T scenarios where the base case is $34.25 and the moon case is $43.86. These price prediction outcomes require significant crypto market expansion and Uniswap maintaining DEX market leadership. Not financial advice.

Next Steps
Disclosure
Educational purposes only, not financial advice. Crypto is volatile, do your own research and manage risk.
Why Use Token Metrics for Uniswap Research?
- Get on-chain ratings, AI-powered scenario projections, backtested indices, and exclusive insights for Uniswap and other top-100 crypto assets.
- Spot emerging trends before the crowd and manage risk with our transparent AI grades.
- Token Metrics helps you save time, avoid hidden pitfalls, and discover data-driven opportunities in DeFi.

Bittensor Price Prediction 2025-2027 | TAO Forecast & Analysis
Understanding Bittensor's Speculative Nature
Bittensor operates as a community-driven token where price action stems primarily from social sentiment, attention cycles, and speculative trading rather than fundamental value drivers. TAO exhibits extreme volatility with no defensive characteristics or revenue-generating mechanisms typical of utility tokens. Token Metrics price prediction scenarios below provide technical forecasts across different market cap environments, though meme and speculative tokens correlate more strongly with viral trends and community engagement than systematic market cap models. Positions in TAO should be sized as high-risk speculative bets with potential for total loss.

Disclosure
Educational purposes only, not financial advice. Crypto is volatile, do your own research and manage risk.
How to read our price prediction methodology: Each band blends cycle analogues and market-cap share math with TA guardrails. Base assumes steady adoption and neutral or positive macro. Moon layers in a liquidity boom. Bear assumes muted flows and tighter liquidity. For speculative tokens, actual price prediction outcomes depend heavily on social trends and community momentum beyond what market cap models capture.
Bittensor (TAO) Price Prediction: TM Agent Baseline
Token Metrics long term price prediction view for Bittensor, cashtag $TAO. Lead metric first, Token Metrics TM Grade is 62%, Hold, and the trading signal is bullish, indicating modest project fundamentals and short-term upward momentum. Market context, Bitcoin direction and appetite for AI and research-oriented crypto projects determine capital flows into niche tokens like $TAO, so broader risk-on conditions would help sustained gains.
Concise 12-month price prediction numeric view: Token Metrics scenarios cluster roughly between $0.45 and $2.20, with a base case near $1.05, reflecting current network usage, developer activity, and token supply dynamics. Implication, if AI crypto interest and on-chain usage grow materially $TAO could approach the upper bound, while in a risk-off market or if network adoption stalls it would likely move toward the lower bound.
- 16T: At 16 trillion, the range is $5,539.08, $6,710.41, and $7,881.74.
Key Takeaways
- Highly speculative asset driven by sentiment and attention rather than fundamentals.
- Scenario driven price predictions, outcomes hinge on total crypto market cap and viral momentum.
- Extreme volatility characteristic - TAO can experience double-digit percentage moves daily.
- TM Agent gist: conditions and usage growth could expand the upper range, risk-off or weak adoption could compress outcomes.
- Entertainment risk only, not financial advice.
Bittensor Price Prediction: Scenario Analysis
Token Metrics price prediction scenarios provide technical price bands across market cap tiers:
- 8T Price Prediction: At 8 trillion total crypto market cap, TAO projects to $2,129.86 (bear), $2,520.30 (base), and $2,910.75 (moon).

- 16T Price Prediction: At 16 trillion, the range is $5,539.08, $6,710.41, and $7,881.74.

- 23T Price Prediction: At 23 trillion, scenarios show $8,948.30, $10,900.52, and $12,852.74.

- 31T Price Prediction: At 31 trillion, projections reach $12,357.53, $15,090.63, or $17,823.73.

These technical price prediction ranges assume speculative tokens maintain market cap share proportional to overall crypto growth. Actual outcomes for speculative tokens typically exhibit higher variance and stronger correlation to social trends than these models predict.
What Is Bittensor?
Bittensor is a decentralized network focused on machine learning markets, where participants contribute and consume AI services. Unlike utility tokens with broad real-world use cases, TAO operates in a niche AI context and often trades as a speculative community symbol.
TAO is the network token used for incentives and participation. Market performance depends heavily on broader interest in AI‑related crypto themes and community engagement around the project.
Risks That Skew Bearish on TAO Price Predictions
- Extreme volatility from pure sentiment-driven price action with no fundamental support.
- Attention cycles shift rapidly, leaving early viral tokens abandoned as new memes emerge.
- Liquidity can evaporate quickly during downturns, creating severe slippage and exit difficulty.
- Regulatory scrutiny may target speculative tokens as securities or gambling instruments.
- Macro risk-off environments hit speculative assets hardest, with meme coins showing largest drawdowns.
- Community fragmentation or developer abandonment can eliminate remaining narrative support.
FAQs About Bittensor Price Prediction
Will TAO 10x from here?
Yes, at a current price of $427.67, a 10x reaches $4,276.70. This level appears in the 16T bear and above price prediction scenarios. Meme and speculative tokens can 10x rapidly during viral moments but can also lose 90%+ just as quickly. Position sizing for potential total loss is critical. Not financial advice.
What are the biggest risks to TAO price predictions?
Primary risks include attention shifting to newer narratives, community fragmentation, developer abandonment, regulatory crackdowns, and liquidity collapse during downturns. Unlike utility tokens with defensive characteristics, TAO has no fundamental floor. Price can approach zero if community interest disappears. Total loss is a realistic outcome.

Next Steps
- Track live data: Token Details
- Consider fundamental crypto assets with utility and defensive characteristics rather than pure speculation.
Disclosure
Educational purposes only, not financial advice. TAO is a highly speculative asset with extreme volatility and high risk of total loss. Speculative tokens operate as entertainment and gambling instruments rather than investments. Only allocate capital you can afford to lose entirely. Do your own research and manage risk appropriately.
About Token Metrics
Token Metrics is a cutting-edge crypto analytics and research platform that offers ratings, price predictions, and unique AI-driven insights for investors.


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Token Metrics Media LLC is a regular publication of information, analysis, and commentary focused especially on blockchain technology and business, cryptocurrency, blockchain-based tokens, market trends, and trading strategies.
Token Metrics Media LLC does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Token Metrics Advisers LLC registered as an investment adviser or broker-dealer in any jurisdiction.
Information contained herein is not an offer or solicitation to buy, hold, or sell any security. The Token Metrics team has advised and invested in many blockchain companies. A complete list of their advisory roles and current holdings can be viewed here: https://tokenmetrics.com/disclosures.html/
Token Metrics Media LLC relies on information from various sources believed to be reliable, including clients and third parties, but cannot guarantee the accuracy and completeness of that information. Additionally, Token Metrics Media LLC does not provide tax advice, and investors are encouraged to consult with their personal tax advisors.
All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Ratings and price predictions are provided for informational and illustrative purposes, and may not reflect actual future performance.