Aster’s breakout run continues. The token has now crossed the $2 mark for the first time, gaining another 50% in 24 hours even as most major coins are correcting.
ASTER is now trading near $2.05, bringing its post-launch rally to over 2,300% since September 17. Daily futures volume on the Aster platform has passed $11.8 billion, temporarily overtaking Hyperliquid’s $9.9 billion – a key moment in what’s now being viewed as a growing rivalry.
Exchange Listings and User Incentives Continue to Drive Activity
Bybit, the first major exchange to list ASTER, launched a campaign offering 100,000 USDT in user rewards. The exchange has also rolled out staking programs with up to 400% APR and locked-term products to incentivize participation.
These campaigns, along with the protocol’s ongoing Genesis Stage 2 airdrop program, have helped sustain momentum. The project continues to highlight its dual focus on spot and perpetual trading across multiple chains, supported by its own infrastructure and stablecoin (USDF).
Whales Accumulate, Liquidity Flows In
Recent data also shows a surge in whale accumulation. At the same time, ETH locked in Aster exceeded 331,000 ETH, and BNB Chain flipped Solana in daily fees – a shift many attribute directly to Aster’s growing usage.
Despite concerns over token concentration (top wallets still control over 90% of supply), these inflows suggest broader participation. Daily spot volume stands above $2 billion, and ASTER’s price has remained relatively stable through volatility elsewhere.
Read also: How to recognize a crypto presale scam? Full guide
Market Impact and Competitive Pressure
Arthur Hayes’ recent exit from HYPE, a competing perpetual DEX token, has drawn attention. While Hayes maintained his long-term thesis, his $5.1 million sell-off coincided with Aster’s rise and a visible shift in trader sentiment.
Several analysts and traders view Aster as Binance’s unofficial response to Hyperliquid. The project’s connection to CZ and YZi Labs, combined with investments from influencers like MrBeast, has added both visibility and speculation.
Whether the token can maintain its lead remains unclear, especially with token unlocks approaching. But for now, Aster has become a serious player in the perpetuals market – and one that so far is continuing to attract capital despite broader market weakness and high token concentration.
