The value anchor of the DeFi contract platform token: the rationality of HYPE and ASTER prices and future growth potential.
1. Ecological innovation of the DeFi Contract (PREP) platform: from single trading to value symbiosis.
The core value of the DeFi Contract (PREP) platform lies in breaking the barriers between centralized exchanges and traditional DeFi, building a derivatives trading ecosystem that combines efficiency with decentralized characteristics. These platforms focus on contract trading and achieve a positive cycle of liquidity, users, and value through technological innovation and token economic design, with Hyperliquid and Aster standing out in particular.
As the leading provider of liquidity contracts on a customized Layer 1 chain, Hyperliquid rapidly captured market share with its sub-second trading speed, zero Gas fees, and core advantages of up to 50x leverage. At its peak, the daily trading volume reached $12.5 billion, and the total locked value (TVL) stabilized in the range of $3.5-5 billion. Its native token HYPE serves three functions: governance, staking, and fee burning. The platform allocates 97% of trading fees to token burns, forming a natural deflationary driving mechanism, while the large-scale airdrop of 31% of tokens has set one of the largest airdrops in crypto history, rapidly building a vast community foundation.
Aster achieves a curve-over-taking with its multi-chain layout and functional innovation, compatible with mainstream public chains such as BNB Chain, Ethereum, and Solana, providing beginners with MEV-free one-click trading and equipping professional traders with advanced features such as hidden orders and grid trading. After its launch, the token soared over 2182%, with 330,000 new wallet addresses created in a single day, and the open contract volume surged by 33500% to $1.25 billion within 7 days. Its 1001x leverage and MEV-aware routing further solidify its differentiated advantages in the derivatives track.
II. Price Reasonableness Analysis: Balance of Fundamental Support and Market Sentiment
The current price fluctuations of HYPE and Aster are essentially the result of the interplay between fundamental support and market sentiment, overall falling within a reasonable range of 'value discovery + growth premium.'
From Hyperliquid (HYPE), its current price of approximately $44.76 and market capitalization of $15.07 billion form a positive match with ecological scale. The platform's average daily trading volume of $12.5 billion, a deflationary model with 97% fee burning, and the upcoming launch of the HyperEVM ecosystem constitute the core support for its price; while the community foundation of 518,000 active addresses further validates users' recognition of its technological advantages. Although the increase from the initial low price of $3.9 is significant, considering the TVL and trading volume scale, its valuation has not deviated from a reasonable range and remains in the value release stage of the growth cycle.
The price of the Aster token at $1.8, with a market capitalization of $2.98 billion, further highlights its 'value gap' attribute. Its 83% trading volume-to-market cap ratio indicates that the current price is significantly underestimated relative to a 24-hour trading volume of $3 billion. The daily $4 million buyback and burn plan successfully triggered a rebound when the token price touched the critical cost line of $0.89, showing that the market has formed a consensus on its value bottom line. The multi-chain liquidity advantage and market share increase brought about by functional innovations (which have compressed Hyperliquid's market share from 71% to 38%) provide solid fundamental support for the price.
In summary, although the prices of both are subject to fluctuations influenced by short-term market sentiment, they have not deviated from the core support of 'technical barriers + ecological scale + token economics'. The current valuations are basically aligned with their respective growth stages and market positions, representing normal value fluctuations for emerging track assets.
III. Historical Reflection: The Rise Logic of BNB and OKB and the Growth Potential of the New Generation Tokens
Looking back at the rise paths of established platform tokens like BNB and OKB, their core growth logic can be summarized as 'ecological expansion + deflationary reinforcement + scenario implementation', which also provides important reference for the future of HYPE and Aster.
In the early stage of OKB's launch in 2018, it was only $7, but it fell to a low of $0.57 during the bear market. However, after OKX announced the destruction of 52% of circulating tokens and fixed the total supply at 21 million, its price skyrocketed from $50 to $258.6, with an increase of over 5 times in 10 days. The core driving force is the scarcity reconstruction brought about by the deflationary mechanism and the continuous enrichment of ecological scenarios. BNB's growth trajectory is even more typical, evolving from an early trading fee discount tool to encompass ecological investments, on-chain Gas fees, DeFi staking, and other diversified scenarios. Along with the global expansion of Binance's ecosystem, its price has surged from a few dollars to hundreds of dollars, validating the core logic that 'ecological value determines token ceilings.'
In comparison, HYPE and Aster are evolving along similar paths and possess late-mover advantages in technological iteration and ecological layout, making their future growth potential worth looking forward to:
Short-term (next three months): Price breakout under scale effects
For Hyperliquid (HYPE), if the HyperEVM ecosystem launches smoothly and Gas revenues exceed expectations, coupled with a steady increase in market share, it is expected to trigger a valuation reassessment. Based on the industry norm of 'a 1% increase in market share leading to a 3-5x increase in price', if it can maintain its current growth momentum, the price is expected to break through the $60-80 range within three months, achieving an increase of 35%-78% from the current price.
The Aster token, benefiting from its multi-chain liquidity advantage and buyback and burn support, is expected to benefit in the short term from the continuing popularity of the derivatives track. If the average daily trading volume remains above $3 billion, its price is expected to move towards $3-4, achieving a growth of 67%-122% from the current $1.8, with its valuation gradually aligning with Hyperliquid.
Long-term: Value explosion after ecological maturity
From a long-term perspective, both HYPE and Aster possess the core conditions to replicate the growth curves of BNB and OKB. Hyperliquid's Layer 1 technical barriers and deflationary token economics are expected to make it a 'value benchmark' in the derivatives track. If the future TVL surpasses $10 billion, its market capitalization could approach $50 billion, corresponding to a price of about $150-160 for HYPE.
It is worth noting that the rise of BNB and OKB has gone through the cycle of 'bear market hibernation - mechanism reform - bull market explosion'. Currently, HYPE and ASTR are at a critical stage of mechanism improvement and ecological expansion. Their multi-chain compatibility and technological innovation are more advantageous than earlier platform tokens, promising to achieve a value leap in the new round of industry cycles.
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