BSC and Influencer Hype Drive Aster’s DEX Revenue Surge Over Hyperliquid

Aster Token has surged to a new all-time high of $2.12, marking a 47% increase in 24 hours, driven by a significant revenue outperformance over its decentralized exchange (DEX) rival Hyperliquid. On-chain data from DefiLlama indicates Aster generated $4.58 million in daily revenue, surpassing Hyperliquid’s $2.82 million during the same period title1^[1]. Despite this, Hyperliquid maintains a higher daily trading volume of $783.52 million compared to Aster’s $558.95 million title1^[1]. Aster’s native token, ASTER, is now valued at $2.06, with a market capitalization of $3.5 billion, ranking it as the 50th largest cryptocurrency, while Hyperliquid’s HYPE token holds a $12.6 billion market cap and the 18th position title1^[1].

The rise of Aster has shifted market sentiment, with prediction market platform Myriad indicating a 45% probability that ASTER will reach $4 by October’s end title1^[1]. This momentum has also altered expectations for HYPE, with predictors now assigning a 61% chance it will hit $39 before reaching $69, a stark contrast to the 31% likelihood reported just days earlier title1^[1]. Aster’s growth is attributed to its Binance Smart Chain (BSC) infrastructure, influencer endorsements, and strategic positioning in the perpetual futures DEX space. Binance founder Changpeng “CZ” Zhao’s YZi Labs backs the project, and high-profile figures like YouTube star MrBeast have amplified its visibility .

Aster’s success has also impacted broader blockchain dynamics. BNB Chain reported daily fees exceeding Solana’s in late September, a shift linked to Aster’s liquidity pull and user activity title2^[2]. The platform’s total value locked (TVL) in Ethereum surpassed 331,864 ETH, signaling robust capital inflows and confidence in its trading and yield opportunities title2^[2]. Meanwhile, Hyperliquid’s recent $1.6 billion airdrop in 2024 initially propelled it to prominence, but its HYPE token has declined by 3% on the day and 13% weekly as Aster gains traction title1^[1].

Aster briefly overtook Hyperliquid in DEX volume for three consecutive days in September, reaching $793 million at its peak title2^[2]. However, Hyperliquid has since reclaimed the seventh position in DEX volume rankings, while Aster slipped to 10th title2^[2]. The competition underscores the growing demand for decentralized derivatives trading, with both platforms leveraging whale activity and large-scale bets to attract liquidity. For instance, a $521 million leveraged Bitcoin short on Hyperliquid in March triggered a public liquidity contest among investors title1^[1].

Analysts note that Aster’s rapid ascent raises questions about sustainability. While its TVL and revenue metrics suggest strong short-term appeal, Hyperliquid’s established user base and higher volume indicate entrenched market share. Influencer-driven hype has amplified ASTER’s adoption, but volatility remains a risk. MoneyLord, a prominent crypto analyst on X, predicts Aster’s daily revenue could climb to $10 million as token burns and community rewards incentivize participation . However, experts caution that maintaining momentum beyond initial hype cycles is challenging in the fast-paced DEX sector.

Aster’s trajectory mirrors historical DEX launches like dYdX, which saw sharp price surges followed by stabilization. The platform’s integration with Binance and CZ’s endorsement may prolong its momentum, but competition in the perpetual futures space is intensifying. As of September 23, ASTER traded at $1.72, up 13% in 24 hours, while HYPE’s decline reflects shifting investor allocations title2^[2]. The evolving DEX landscape highlights the importance of liquidity depth, influencer influence, and strategic partnerships in sustaining growth.