Aster Surpasses Hyperliquid and Other Perpetual DEXs in Defi Fees
Decentralized perpetuals exchange Aster has risen to the top of the Defillama protocol fee ranking, generating over $25 million in the last 24 hours. This significant milestone solidifies Aster’s position as a leading player in the decentralized finance (Defi) space.
Key Highlights of Aster’s Success
Aster has directed all Defi protocols with over $25 million in daily fees, far exceeding competitors like Hyperliquid. Despite lower trading volume, Aster gains a drive effect with its unique “hidden orders” function and the latest token start. The protocol’s rating was supported by YZI Labs and CZ, resulting in a significant increase in value to $15.1 billion since its rebrand and September token debut.
Comparing Aster’s Performance to Hyperliquid
Hyperliquid, on the other hand, earned $3.17 million in the same period, significantly lower than Aster’s daily fees. Although Hyperliquid exceeds Aster in daily volume, with $477.3 million in spot trading volume compared to Aster’s $199.96 million, Aster’s unique features and strong backing have contributed to its success.
Aster’s Unique Features and Recent Developments
Aster, previously known as APX Finance, was renamed in March after merging with Astherus. The platform is supported by Yzi Labs (formerly Binance Labs) and has established its presence on multi-chains with a primary focus on the BNB chain. The “hidden orders” function, which allows traders to place completely invisible limit orders, has attracted users seeking stealth execution strategies.
Following the token’s start on September 17, the protocol saw a wave of new users, and the token price experienced a rapid increase. At the time, Binance co-founder Changpeng Zhao took to X and confirmed that Yzi Labs holds a minority stake in the project, stating, “Only a few understand that Aster competes with Binance, but helps BNB.”
Aster’s Token Performance and Recent Incident
Aster’s native token, Aster, is currently trading at $1.89, with a fully diluted valuation of $15.1 billion. Although the token has decreased by 1.76% in the last 24 hours, its overall performance has been impressive. Recently, Aster reimbursed traders after an XPL price glitch triggered liquidations, demonstrating the platform’s commitment to user support and transparency.
For more information on Aster and its rise to the top of the Defi fees chart, visit https://cryptonews.com/news/aster-tops-defi-fees-chart-outpacing-hyperliquid-and-other-perp-dexs/
