Aster Shatters Hyperliquid's DeFi Dominance With $1B TVL and 330K New Wallets

Aster Token’s native cryptocurrency surged 1,650% in the first 24 hours of trading, reaching $0.528 and generating $345 million in trading volume, according to multiple sources. The decentralized exchange (DEX) platform, backed by former Binance CEO Changpeng Zhao (CZ), reported a Total Value Locked (TVL) increase from $660 million to $1.005 billion, with platform volume nearing $1.5 billion. The rapid growth attracted 330,000 new wallets, positioning Aster as a potential challenger to Hyperliquid, which dominates 70% of the DeFi perpetuals market .

The token’s explosive performance followed months of anticipation, including CZ’s public endorsements and comparisons to Binance-level liquidity. Within hours of launch, Aster secured a listing on Binance Alpha and expanded perpetual trading to four new assets with up to 50x leverage. The platform also introduced ASTER/USDT perpetual trading with 4x leverage and hourly funding rate settlements, while enabling spot withdrawals on BNB Chain with 30-second processing times .

Technical architecture differentiates Aster from Hyperliquid’s single-layer strategy. Aster supports native operations across BNB Chain, Ethereum, Solana, and Arbitrum, eliminating the need for bridging or conversions. The platform combines Simple Mode for MEV-free trades with Pro Mode’s advanced tools, including hidden orders and grid trading. Unique features like 24/7 US stock perpetuals (e.g., Tesla and Nvidia) and yield-bearing collateral tokens (asBNB, USDF) further distinguish it. Zero-knowledge proofs on Aster Chain enhance privacy, while Pyth Network oracles ensure tamper-resistant pricing .

Community ownership exceeds 50% of the token supply through rewards, governance, and buybacks. Data shows sophisticated user behavior, with top traders achieving realized profits over $645,000. Aster’s liquidity pools hold $275.7 million in asBNB TVL and $41.2 million in USDF TVL, while open interest reached $255.3 million. APY rates remain competitive at 25.79% on BSC and 21.28% on Arbitrum .

Hyperliquid’s dominance is challenged by Aster’s multi-chain strategy and traditional asset integration. Hyperliquid’s August performance included $106 million in revenue and $383 billion in monthly trading volume, with a lean team of 11 employees. However, Aster’s institutional adoption efforts, including Anchorage Digital custody and Circle’s USDC integration, mirror Hyperliquid’s strategies. Analysts project a 10x rally for ASTER, citing a $1.5 billion FDV versus Hyperliquid’s $55 billion valuation. The competitive landscape intensifies as both platforms target institutional users, with Aster’s community-driven governance contrasting Hyperliquid’s centralized structure .

Sources:

[1] title1 (https://cryptonews.com/news/aster-token-explodes-1650-in-first-24-hours-platform-tvl-surges-past-1b-is-this-the-next-hyperliquid/)

[2] title2 (https://www.coingabbar.com/en/price-prediction/aster-tge-launch-sparks-1650-surge-tvl-hits-dollar1b)

[3] title3 (https://www.cryptotimes.io/2025/09/18/aster-hits-1b-tvl-330k-users-after-token-launch/)

[4] title4 (https://news.ng/aster-surpasses-1b-tvl-330k-users-in-first-day-of-token-launch/)