Aster Token Skyrockets to New High After Flipping Hyperliquid in Revenue—Will the Price Double Again?

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22 hours ago

Aster, an emerging decentralized exchange on the Binance Smart Chain, has been flying lately, with its token jumping 47% over the last day and setting a new all-time high of $2.12 on Tuesday afternoon.


And predictors on Myriad, a prediction market developed by Decrypt’s parent company Dastan, believe there is a 45% chance Aster continues its charge and hits $4 by the end of October. That would nearly double its current price of $2.06.


Aster has generated $4.58 million in daily revenue, according to on-chain data collected by DefiLlama. That sees it surpass its chief rival Hyperliquid, which has generated just $2.82 million during the same span. That said, Aster remains behind in daily volume with $558.95 million, compared to Hyperliquid’s $783.52 million.





Aster is a decentralized exchange that specializes in perpetual futures, backed by Binance founder Changpeng “CZ” Zhao’s crypto investment firm YZi Labs. It has been viewed as BNB Chain’s competitor to Hyperliquid, another DEX specializing in perpetual futures, which has been one of the biggest crypto projects of the year.


After a massive $1.6 billion airdrop in 2024, Hyperliquid started making headlines as whales used the exchange to place hugely leveraged bets for the world to see. For example, a whale opened a majorly leveraged Bitcoin short worth $521 million in March, which led to a group of investors attempting to liquidate the whale.


As a result of rising demand, Hyperliquid’s HYPE token has surged to a $12.6 billion market cap as the 18th largest cryptocurrency in the world, according to CoinGecko. HYPE is down more than 3% on the day and 13% this week amid the emergence of the hot, new BNB rival. By comparison, Aster sits at a nearly $3.5 billion market cap and is the 50th largest token.


The arrival of Aster has flipped predictors on Myriad, who now believe it is more likely that HYPE will hit $39 next before it touches $69—putting the chances at 61%. That’s a stark difference from just Friday, when predictors believed it to be 31% likely that HYPE hits $39 first.


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