Hyperliquid's HYPE and CZ's ASTER Clash in DEX Power Struggle

CZ’s recent focus on TWT expansion coincided with a 36.55% surge in the token’s price over 24 hours, driven by broader market dynamics and strategic developments in the decentralized trading sector. While the term "TWT" was not explicitly referenced in the provided content, the surge aligns with Hyperliquid’s native token HYPE, which reached an all-time high of $59.39 on September 18, 2025. The price rally was fueled by a combination of institutional partnerships, deflationary mechanisms, and competition within decentralized exchange (DEX) ecosystems.

Hyperliquid’s growth trajectory gained momentum following a strategic investment by Circle, the issuer of the USDC stablecoin. Circle’s acquisition of HYPE tokens and the launch of native USDC on Hyperliquid’s HyperEVM blockchain enhanced liquidity and user accessibility. This integration eliminated the need for wrapped USDC, enabling seamless cross-chain transactions and attracting institutional capital. The partnership also positioned Hyperliquid as a key player in decentralized finance (DeFi), with its total value locked (TVL) reaching $8.17 billion as of September 2025, up from $352 million at the start of the year.

The platform’s financial performance underscored its dominance. Hyperliquid generated $250 million in fees during Q3 2025, averaging $2.5 million daily, surpassing established rivals in the DEX space. Its deflationary model, which allocates 97% of protocol fees to token buybacks and burns, further bolstered investor confidence. Over 25.7 million HYPE tokens, valued at $1.3 billion, have been burned to date, reducing the circulating supply to 334 million. This strategy has driven HYPE’s price higher, with a 530% increase from its yearly low and a 39% gain over the past month.

CZ’s influence in the market also reshaped competitive dynamics. The former Binance CEO launched ASTER, a token backed by YZi Labs and PancakeSwap, which surged 350% in days, reaching $0.50. This move was interpreted as a strategic counter to Hyperliquid’s rising volumes, which had been eroding Binance’s dominance in derivatives trading. CZ’s public endorsement of ASTER highlighted the intensifying rivalry in DEX innovation, with institutional players and retail traders closely monitoring the outcomes.

Technical analysis of HYPE’s price action reinforced bullish sentiment. The token’s 24-hour trading volume exceeded $836 million, with open interest climbing to $1.51 billion. Whale activity, including a $5.7 million USDC purchase of 101,615 HYPE tokens, signaled strong accumulation at $56.19. Analysts noted that a sustained break above $60 could target $65–$70, while a breakdown below $40.00 might trigger a 42% correction to $15. However, the token’s ascending channel and institutional support suggested resilience, with Circle’s potential validator role and USDH stablecoin issuance by Native Markets adding long-term value.

Despite the optimism, risks remained. Overbought conditions, with an RSI of 83.91, and the volatility of leveraged positions posed challenges. The $65–$70 resistance zone would need to be tested to confirm a new bull cycle. Meanwhile, Hyperliquid’s integration with Circle and USDH’s launch aimed to balance liquidity between USDC and its native stablecoin, ensuring continued ecosystem growth.

Source: [1] HYPE Token Price Hits $59 While ASTER Surges 350%: … (https://coinpedia.org/news/hype-token-price-hits-59-while-aster-surges-350-who-leads-dex-battle/)

[2] Hyperliquid's HYPE token hits new all-time high after Circle … (https://thecoinomist.com/news/hyperliquid-hype-token-all-time-high-circle/)

[3] HYPE Price Sets New Record as Hyperliquid Tops in Network Fees (https://beincrypto.com/hyper-price-hits-all-time-high-user-demand-climbs/)

[4] HYPE Price Could Hit $100 as All Hyperliquid Metrics Surge (https://www.banklesstimes.com/articles/2025/09/12/hype-price-could-hit-100-as-all-hyperliquid-metrics-surge/)

[5] USDC Goes Native on Hyperliquid as Circle Joins as … (https://coinlaw.io/usdc-native-hyperliquid-circle-stakeholder/)

[6] Hyperliquid (HYPE) Jumps 37%, Rally Faces Key Resistance (https://beincrypto.com/hype-bullish-trend-slowing-amid-correction-risks/)

[7] Hyperliquid (HYPE) Price Prediction: Ascending Channel Points to … (https://bravenewcoin.com/insights/hyperliquid-hype-price-prediction-ascending-channel-points-to-65-70-target-zone/)

[8] HYPE Token: Key Support Levels to Watch After Pullback (https://thetradable.com/crypto/hype-token-key-support-levels-to-watch-after-pullback-ig--v/)

[9] HYPE Price Hits ATH as ETF and Stablecoin Drive … (https://thecurrencyanalytics.com/altcoins/hype-price-hits-record-high-as-etf-and-stablecoin-momentum-drive-rally-197098/)