Aster Tops Perpetual DEX Race, HYPE Faces Unlock Pressure
Aster has surged over 9,900% since its September 17 launch, highlighting fierce perpetual DEX competition. Backed by Binance and YZi Labs incubation on BNB Chain, Aster’s market cap climbed to $3.3 billion, with TVL hitting $1.16 billion and 24-hour volume over $55 million in the first five days.
After Binance added USDT, USDC and TRY pairs, Aster’s 24-hour volume jumped 50% to $1.9 billion and weekly volume topped $2 billion. Technical charts show Aster breaking above $2 with RSI near overbought, suggesting further upside.
Meanwhile, Hyperliquid (HYPE) faces growing sell pressure. From late November, monthly token unlocks of 237.8 million HYPE over two years could add $500 million supply per month. With only 17% absorbed by fee buybacks, a $410 million gap may weigh on price. Traders eye support at $47.44 and resistance at $49.72. Overall, the perpetual DEX sector is poised for continued volatility as Aster and HYPE battle for market share.
Bullish
We categorize the impact as bullish because Aster’s rapid rise and increased trading volume signal strong short-term momentum in the perpetual DEX sector. The Binance listing and high RSI suggest continued buying pressure. Although Hyperliquid faces substantial sell-side pressure from large token unlocks, this primarily affects HYPE rather than Aster. In the long term, Aster’s ability to maintain liquidity, user experience and regulatory resilience could solidify its market position, reinforcing upward price potential. While Hyperliquid’s unlock schedule may create volatility, the overall news favors Aster’s price trend, giving the perpetual DEX market a bullish outlook.