Ethereum News Today: DeFi Fee War Intensifies: edgeX Surpasses Hyperliquid as Zero-Fee Threat Looms

On October 29, edgeX emerged as the top on-chain fee generator, racking up $2.3 million in 24-hour trading fees, according to Artemis data and a Lookonchain report on edgeX 24-hour revenue. This marked a significant milestone for the platform, which also ranked second in net fund inflows, trailing only Ethereum. The performance underscores edgeX's growing appeal among traders, who are increasingly favoring its high transaction activity and user retention metrics.

The rise of edgeX comes amid intensifying competition in the decentralized trading space. Hyperliquid, a major rival, faces pressure from zero-fee exchanges, warns Arthur Hayes, co-founder of BitMEX, in a CoinEdition article. Hayes argues that centralized platforms undercutting fees threaten Hyperliquid's sustainability, as the latter relies on trading fees to fund HYPE token buybacks . Despite this, Hyperliquid maintains robust trading volumes, with $9.49 billion in daily activity as of October 29 .

The broader crypto market context highlights Ethereum's resurgence. Ethereum spot ETFs saw $246 million in inflows on October 28, outpacing Bitcoin's $202 million, driven by funds like Fidelity FETH and BlackRock ETHA, as reported in the Crypto ETF Report. This trend aligns with the Fusaka Ethereum upgrade, which enhanced scalability and data availability for Layer 2 solutions, as noted in TradingView key facts. Meanwhile, institutional demand for Ethereum remains strong, with Bitmine adding $113 million to its holdings, pushing its total to $13.3 billion, according to a BeInCrypto report.

Ethereum's price stability above $4,000 has further bolstered investor confidence. After three days of outflows, Ethereum ETFs recorded a $134 million net inflow on October 28, bringing cumulative inflows to $14.49 billion, according to FXStreet coverage. Retail traders also show renewed interest, with XRP futures open interest averaging $4.51 billion, a rebound from a low of $3.49 billion in late October .

The market dynamics reflect a broader shift toward platforms offering both competitive fees and robust infrastructure. While edgeX's success hinges on its ability to maintain low fees and high liquidity, Hyperliquid's challenges highlight the fragility of models dependent on fee revenue. As Hayes notes, centralized exchanges may eventually raise fees after eroding market share, potentially creating opportunities for decentralized platforms that balance cost efficiency with user experience .

This is the Full Title of the First News Article https://www.marketscreener.com/news/drug-developer-maplight-therapeutics-valued-at-704-3-million-after-us-ipo-ce7d5ddedc89f427

This is the Full Title of the Second News Article https://simplywall.st/stocks/us/utilities/nyse-wec/wec-energy-group/news/how-wec-energy-groups-dividend-affirmation-and-clean-energy

edgeX 24-hour Revenue Performance Surpasses Hyperliquid https://www.lookonchain.com/feeds/34809

Key facts: Ethereum ETF inflows reach $134M; SharpLink to invest $200M; Fusaka upgrade enhances scalability https://www.tradingview.com/news/tradingview:ba08ed254ca1e:0-key-facts-ethereum-etf-inflows-reach-134m-sharplink-to-invest-200m-fusaka-upgrade-enhances-scalability/

Crypto ETF Report: Ethereum ETFs Top Bitcoin with $246 Million Inflows https://coinpedia.org/news/crypto-etf-report-ethereum-etfs-top-bitcoin-with-246-million-inflows/

Crypto Today: Bitcoin, Ethereum, XRP bulls hold steady amid ETF inflows resurgence https://www.fxstreet.com/cryptocurrencies/news/crypto-today-bitcoin-ethereum-xrp-bulls-hold-steady-amid-etf-inflows-resurgence-202510281210

Whales Split on Ethereum: Profit-Takers Sell as Bitmine Bets Big With $113 Million Buy https://beincrypto.com/ethereum-institutional-whale-split/

Zero-Fee Exchanges Threaten Hyperliquid's Survival, Arthur Hayes Warns https://coinedition.com/zero-fee-exchanges-threaten-hyperliquids-survival-arthur-hayes-warns/