Aster flips Hyperliquid in daily trading volumes just days after launch

Aster, the newly launched perpetual futures DEX, flipped Hyperliquid for the first time in daily volumes. The new perpetual futures DEX accelerated competition, as more markets aim to compete with Hyperliquid. 

Aster, the newly launched DEX, surpassed Hyperliquid in daily trading volumes. Recently, the exchange also expanded its daily fees, almost competing with Uniswap as well. Aster itself reported over $4B in daily perpetual futures volumes. 

No. 1 in perp DEX trading volume during the past 24 hours with over $11+ billion on Aster. 👀

ASTER MODE. pic.twitter.com/gjPAtE7AJF

— Aster (@Aster_DEX) September 23, 2025

Currently, the market is in the process of listing more of the hottest assets, offering some of the highest leverage on the market. Aster even added HYPE with a 300X leverage market, offering extreme bets on the token of its competitor. 

Just days after launching, the perpetual futures DEX supported by Yzi Labs started fighting for the top spot. 

The DEX produced over $4M in daily fees, with only $2.91M for Hyperliquid. During more active trading hours, Aster and Hyperliquid also rise to the top 5 of fee producers for the day.

Based on Cryptorank data, Aster also got a boost to its daily volumes, achieving the highest activity of all perpetual futures DEX. The launch of Aster revived the whole space, with increased on-chain activity and competition between networks and protocols. 

ASTER reaches new all-time peak

The rapid expansion of Aster’s trading boosted its native asset. ASTER traded at a new all-time peak on Tuesday, rising to $1.96. The asset is already up over 257% since its launch, with relatively few setbacks. The ASTER rally models the drive of Hyperliquid, with a few changes. The DEX will also utilize buybacks, but those will be determined by the community through voting. 

During the showdown between Hyperliquid and the new contender, HYPE took a step back. HYPE is now consolidating around $46.98, still showing weakness after the general drop in altcoin prices. HYPE may get a boost from whale buying in the coming days, but for now, it remains far from its all-time peak near $60. 

Hyperliquid remains the leader with over $6.48B in value locked, while Aster is catching up with around $1.3B. Hyperliquid retains the advantage of a native chain, as well as an eventual stablecoin launch. The DEX has also accrued over $5.6B in USDC liquidity, while Aster received direct BNB-USDT inflows from Binance’s hot wallets.

Aster gets a boost from point farming program

The current activity on Aster is partially due to the initial hype following the launch. The DEX is getting another boost from its Stage 2 Rh points program. 

The perpetual futures DEX also opened the leaderboard for its Stage 2 reward program. On position 2, one of the most active users is tagged as ‘cz’, though still unverified whether Binance’s Changpeng ‘CZ’ Zhao is active on the platform. 

The program contains daily challenges, including trading and holding. As Cryptopolitan previously reported, Aster is also drawing in volumes from a special trading program on Bybit. 

The success of ASTER also expanded DEX activity on BNB Chain. PancakeSwap emerged as the leading DEX due to the additional activity from the early trading of ASTER tokens.

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