In just a few days, a small new token has captured the attention of the entire crypto world. Aster (ASTER) shot up over 1200% since its launch, reaching a market value near $2 billion. Meanwhile, traders are now asking a big question: can this newcomer challenge Hyperliquid, the established giant in the decentralized derivatives market?
Let’s break it down!
Aster Makes a Stunning Debut
Aster entered the crypto market with a bang, surging nearly 1200%. The jump was driven by speculation around Binance founder Changpeng Zhao’s involvement, with a single tweet sending ASTER to $1.16
According to CryptoQuant analyst Maartunn, this surge may be more than just hype. Traders see Aster as an opportunity to capture part of Hyperliquid’s $2.7 billion daily trading volume and $4.09 billion open interest, making it one of the most-watched DeFi projects.
On top of it, Aster reached $782 million in total value locked (TVL) shortly after launch. Even after the initial excitement settled, the platform held $655 million in TVL, nearly double its pre-launch levels, placing Aster among the most active decentralized derivatives platforms.
Hyperliquid: The Established Giant
Aster’s immense jump has challenged the existence of Hyperliquid’s (HYPE) in a DeFi showdown. Although Hyperliquid isn’t new to the scene with its well-known token HYPE, it has built a strong reputation in perpetual futures trading, holding 73% of the DEX market by mid-2025.
In July 2025 alone, it recorded $320 billion in trading volume and $86.6 million in protocol revenue, thanks to a 97% fee allocation for HYPE token buybacks through its Assistance Fund.
However, is token, HYPE, has steadily grown from $10 to $60 over the past six months, backed by strong trading volumes and a loyal user base.
For new projects like Aster, matching this level of stability and trust is no small feat. Perhaps, its early performance has positioned it as a serious competitor in the growing DeFi space, attracting attention from both traders and crypto enthusiasts.
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FAQs
Aster (ASTER) is a new decentralized derivatives trading token that surged over 1200% at launch, challenging established platforms with its rapid growth and high trading volume.
Aster has shown potential by quickly amassing over $655 million in Total Value Locked (TVL), positioning it as a emerging competitor to Hyperliquid’s dominant market share.
Aster’s price skyrocketed due to speculation around Binance founder CZ’s involvement and market excitement about its potential in the derivatives trading sector.
While Aster has shown explosive growth, all cryptocurrencies carry high risk. Its value depends on sustaining user adoption and competing effectively in the derivatives market.
