🚨 Aster hits $1.26 trillion USD $ASTER
The Aster DEX has just announced that its total trading volume for perpetual contracts has surpassed $1.26 trillion since launch. In the past 30 days alone, this figure contributed $48.3 billion – according to data from DefiLlama.
With this growth momentum, Aster has officially claimed its position as the second-largest Perp DEX, only behind Hyperliquid. However, the question arises: Can Aster truly compete with Hyperliquid? $HYPE
Data shows a mixed picture:
Trading Volume: Aster led in some short bursts, even capturing up to 70% market share in September 2025. But in the long run, Hyperliquid remains the "king" with superior liquidity and depth.
Open Interest: This is the true measure of committed capital flow. Hyperliquid currently holds over 70% of the OI market share, with around ~$9 billion, many times the ~$2.3 billion of Aster. This indicates that users trust and hold long positions on Hyperliquid, while activity on Aster tends to be more short-term.
Market Context: The total DEX market share is growing rapidly (from 2% to 10.2% in just two years), but the "liquidity pie" still leans towards Hyperliquid.
So, can Aster pull off a surprise? Maybe, but there are many challenges ahead. Aster's boom shows that there is genuine demand for decentralized trading, but to compete sustainably, they need to prove real capital flow rather than relying solely on incentive programs. The race for Perp DEX is set to be very exciting in the near future.
The Aster DEX has just announced that its total trading volume for perpetual contracts has surpassed $1.26 trillion since launch. In the past 30 days alone, this figure contributed $48.3 billion – according to data from DefiLlama.
With this growth momentum, Aster has officially claimed its position as the second-largest Perp DEX, only behind Hyperliquid. However, the question arises: Can Aster truly compete with Hyperliquid? $HYPE
Data shows a mixed picture:
Trading Volume: Aster led in some short bursts, even capturing up to 70% market share in September 2025. But in the long run, Hyperliquid remains the "king" with superior liquidity and depth.
Open Interest: This is the true measure of committed capital flow. Hyperliquid currently holds over 70% of the OI market share, with around ~$9 billion, many times the ~$2.3 billion of Aster. This indicates that users trust and hold long positions on Hyperliquid, while activity on Aster tends to be more short-term.
Market Context: The total DEX market share is growing rapidly (from 2% to 10.2% in just two years), but the "liquidity pie" still leans towards Hyperliquid.
So, can Aster pull off a surprise? Maybe, but there are many challenges ahead. Aster's boom shows that there is genuine demand for decentralized trading, but to compete sustainably, they need to prove real capital flow rather than relying solely on incentive programs. The race for Perp DEX is set to be very exciting in the near future.