Aster, a decentralized exchange for on-chain perpetuals, has surpassed Hyperliquid in daily trading volume, indicating its growing significance in the competitive DEX market.
Data from DefiLlama reveals that Aster enabled approximately $793 million in transactions in the last 24 hours, exceeding Hyperliquid’s $462 million.
Sponsored
Sponsored
Aster’s DEX Volume Surpasses Hyperliquid
This performance has propelled Aster into the top six decentralized exchanges by volume, while Hyperliquid has slid to ninth place.
The trend is noteworthy considering Aster’s smaller weekly figures. In the past week, Aster recorded about $1.79 billion in trades, still significantly lower than Hyperliquid’s $5.78 billion.
Nonetheless, the significant change in daily volumes suggests traders are increasingly focusing on the DEX platform.
Much of this growth is attributed to renewed interest connected to Binance founder Changpeng Zhao, who has promoted the platform’s multi-chain capabilities and unique trading features.
Zhao highlighted elements like hidden orders, enabling users to execute trades without revealing their positions to the entire network. This approach minimizes front-running and limits possibilities for price manipulation.
“Aster is not a BNB Chain exclusive perp dex. It supports multiple chains natively. It also supports hidden orders. Different from other perp dex designs,” Zhao mentioned.
Sponsored
Sponsored
By providing this “shadow zone” for order execution, Aster has set itself apart from many other perpetual DEXs, fostering conditions that seem to have boosted its recent increase in activity.
Token Rally Attracts Whale Bets
The surge in trading activity has coincided with significant price movements in Aster’s native token. Over the past week, the token surged over 800%, briefly reaching an all-time high near $2.
This dramatic rise has attracted substantial investors, with blockchain analytics firm Lookonchain monitoring several whale bets that leveraged the momentum.
On September 20, the firm reported that an influencer named CookerFlips withdrew 5.57 million ASTER tokens after an initial deposit of $1.24 million. Within three days, this position generated about $5 million in profit.
Another investor, Ogle—an advisor at World Liberty Financial—reopened a 3x leveraged long position on ASTER and is currently enjoying $357,000 in unrealized gains, having realized nearly $1 million in profits from prior trades.
Market analysts noted these bold bets mirror the volatility of Aster’s token, alongside conviction among some traders that the exchange’s growing prominence will continue to drive gains.
