TLDR
- Aster tops DefiLlama, generating $25M+ daily fees in DeFi dominance.
- With $42B in 24h volume, Aster leads perpetuals, outpacing Hyperliquid.
- ASTER token soars to $15B FDV, fueled by CZ’s backing and rapid growth.
- Aster’s “hidden orders” lure privacy traders, reshaping DeFi derivatives.
- After XPL glitch, Aster swiftly reimburses users, boosting platform trust.
Aster has surged to the top of DefiLlama’s protocol fee rankings, generating over $25 million in daily fees. The decentralized perpetuals exchange now leads the sector, outpacing competitors like Hyperliquid. This milestone marks Aster’s growing influence in the on-chain derivatives space.
Aster Commands Perpetuals Market With Record Fees and Volume
Aster has recorded over $42 billion in perpetuals volume within 24 hours, dominating the leaderboard. It surpassed major platforms, pushing Hyperliquid and Lighter into second and third place respectively. This achievement followed Aster’s token launch on September 17, which significantly boosted user activity.
Aster offers a unique “hidden orders” feature that allows traders to place invisible limit orders. This contrasts sharply with the transparent order books seen on other on-chain exchanges.
Backed by YZi Labs, formerly Binance Labs, Aster began by focusing on the BNB Chain. The platform previously operated as APX Finance before merging with Astherus and rebranding in March. Since then, it has gained momentum through multi-chain support and feature differentiation.
ASTER Token Sees Rapid Valuation Growth Post Launch
The native ASTER token now trades at $1.89, representing a slight 1.76% dip in the past 24 hours. Despite the pullback, its fully diluted valuation has reached $15.1 billion. This marks a dramatic rise from its initial $560 million FDV during the token generation event.
The token’s ascent aligns with Aster’s increasing user base and trading activity. Positive sentiment also strengthened when Binance co-founder Changpeng Zhao publicly supported the protocol. Zhao acknowledged that although Aster competes with Binance, it benefits the BNB ecosystem.
This endorsement amplified Aster’s market presence and lent further credibility to its roadmap. As a result, the token gained strong traction across trading communities. The exchange continues to benefit from this momentum and strategic backing.
Hyperliquid Trails in Perpetuals Fees but Leads in Spot Trading
While Hyperliquid generated $3.17 million in perpetuals fees, it placed fifth behind Aster. It led spot trading volume with $477.3 million in daily activity. Aster ranked 13th in spot trading with $199.96 million, showing a narrower market segment focus.
Despite lagging in spot trades, Aster remains dominant in derivatives performance. This shows its strength lies in leveraged and perpetual trading, where user demand is surging. Hyperliquid, meanwhile, maintains a broader user base through diverse trading options.
Aster’s performance in fees underscores stronger revenue generation capabilities. As platforms compete for user liquidity, Aster’s trajectory suggests lasting relevance. With innovation and speed, it continues to reshape the perpetuals exchange landscape.
Aster Responds Rapidly to XPL Price Glitch With User Reimbursements
Aster recently reimbursed users affected by a price glitch in the XPL perpetual contract. The anomaly occurred during the shift from pre-launch to live trading and triggered liquidations. Aster compensated traders in USDT and resolved the issue within hours.
The spike saw XPL briefly jump to over $4, diverging from its $1.30 price on other platforms. Early reports suggest a misconfigured index or unsynced live data may be responsible. Aster has pledged to continue investigating the technical cause.
This incident followed the mainnet debut of Plasma, a new Layer 1 with XPL as its native token. Aster’s quick response helped restore user trust amid rising scrutiny. The platform’s ongoing stability and transparency remain key to sustaining user confidence.
