Decentralized perpetuals change Aster has surged to the highest of DefiLlama’s protocol price rankings, producing over $25 million in charges up to now 24 hours.
Key Takeaways:
- Aster led all DeFi protocols with over $25 million in each day charges, far surpassing rivals like Hyperliquid.
- Regardless of decrease buying and selling quantity, Aster is gaining traction with its distinctive “hidden orders” characteristic and up to date token launch.
- Backed by YZi Labs and endorsed by CZ, Aster’s valuation has soared to $15.1 billion since its rebrand and September token debut.
The protocol is considerably forward of rivals like Hyperliquid, which introduced in $3.17 million over the identical interval.
Regardless of rating fifth in charges, Hyperliquid outpaces Aster in each day quantity.
Hyperliquid Triples Aster in Spot Quantity, DefiLlama Information Exhibits
DefiLlama information exhibits Hyperliquid logged $477.3 million in spot buying and selling quantity, whereas Aster recorded $199.96 million, inserting it thirteenth general.
Notably, Aster doesn’t but seem on the aggregator’s each day income leaderboard.
Aster, beforehand often known as APX Finance, rebranded in March after merging with Astherus. The platform is backed by YZi Labs (previously Binance Labs) and has constructed its presence on multi-chain assist, with an preliminary concentrate on BNB Chain.
What units Aster other than different perpetual DEXs is its “hidden orders” characteristic, which permits merchants to position fully invisible restrict orders.
This deviates from the transparency of most on-chain order books and has caught the eye of customers looking for stealth execution methods.
The protocol noticed a wave of latest customers following its token launch on September 17, throughout which its token worth skilled a fast surge.
Momentum picked up additional when Binance co-founder Changpeng Zhao endorsed the venture on X, confirming that YZi Labs holds a minority stake.
“Few perceive this,” Zhao posted. “Aster competes with Binance, however helps BNB.”
Few perceive this.
Aster competes with @Binance, however helps #BNB. https://t.co/CmTSvVKUGR— CZ
BNB (@cz_binance) September 28, 2025
Aster’s native token, ASTER, is presently buying and selling at $1.89, down 1.76% over the previous 24 hours.
The token now instructions a completely diluted valuation of $15.1 billion, a formidable climb from its $560 million valuation at launch.
Whereas quantity and visibility metrics could range, Aster’s spike in protocol charges positions it as a rising drive within the on-chain derivatives area.
Aster Reimburses Merchants After XPL Worth Glitch Triggers Liquidations
On Friday, Aster reimbursed customers in USDT after a sudden worth spike within the XPL perpetual contract triggered pressured liquidations.
The anomaly, which occurred in the course of the transition from pre-launch to dwell buying and selling, noticed the worth of XPL briefly surge to over $4, properly above its $1.30 common on different platforms.
The change responded shortly, finishing the primary spherical of reimbursements inside hours and compensating affected merchants for liquidation and buying and selling charges.
Whereas the precise trigger stays unconfirmed, early hypothesis factors to a misconfigured index worth or lacking sync with dwell market information. Aster has pledged to proceed its investigation into the incident.
The glitch adopted the mainnet launch of Plasma, a stablecoin-focused Layer 1 whose native token XPL quickly hit a $12 billion valuation.
Regardless of the setback, Aster continues to realize momentum, not too long ago surpassing Hyperliquid in each day perpetuals quantity. Its distinctive “hidden orders” characteristic has additionally helped the platform stand out in a aggressive market.
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