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The growth curve of Lighter's new wallets has significantly declined. The peak of daily new wallets in November last year exceeded 20,000, but now the average is only about 500 per day. This gap is quite noticeable.
In comparison, Hyperliquid attracts 1,000 to 1,500 new wallets daily, and its growth momentum is actually more stable. The differences between the two platforms likely reflect their respective market competitiveness and user stickiness.