Децентрализованная биржа Aster обходит Hyperliquid: успех на фоне поддержки CZ Translation: Decentralized Exchange Aster Surpasses Hyperliquid: Success Amidst CZs Support

The decentralized exchange Aster has surpassed Hyperliquid in daily trading volume. According to data from DeFi Llama, over the past 24 hours, Aster’s trading volume reached $20.8 billion compared to Hyperliquid’s $9.7 billion.

Furthermore, the DEX built on BNB Chain outperformed its rival in terms of fee generation, generating $9.2 million against $2.7 million in the last day. Aster claimed the second position among protocols, outpacing the organization behind USDC, Circle.

However, the platform still trails behind its competitor with a total value locked (TVL) of $1.8 billion. At the time of writing, Hyperliquid’s TVL exceeds $6.5 billion.

In the wake of Aster’s success, the BNB Chain blockchain has, for the first time, overtaken Solana in daily transaction fees. Until mid-September, the network’s transaction fees seldom exceeded $500,000, while the competitor’s fees consistently hovered around $1.2 million.

Aster emerged from the merger of APX Finance and Astherus in March. The platform garnered attention from the crypto community following the launch of its namesake token on September 17.

A key feature of the platform is the capability for hidden orders, allowing users to place invisible limit orders in the order book. This sets Aster apart from the transparent mechanisms common among most on-chain exchanges.

Nonetheless, the primary driving force behind its popularity was a post from Binance founder Changpeng Zhao (CZ), congratulating the DEX on the release of its native token.

“Well done! 👏 Good start. Keep building!” pic.twitter.com/oMfOxfsBRS

As a result, the price of ASTER surged more than tenfold within a few days, peaking at $2. The asset’s market capitalization exceeded $3.7 billion.

On September 24, the token set a new all-time high above $2.3, driven by an announcement regarding a 5% discount on trading fees for spot trading on Aster.

Earlier, some users speculated that Zhao himself initiated the creation of the DEX within the BNB Chain ecosystem in response to Hyperliquid’s achievements, pointing to Aster’s funding from YZi Labs, a venture arm of Binance, in late 2024.

After the deal with U.S. authorities, CZ was permanently removed from managing the exchange. However, he still plays a crucial role at YZi Labs, engaging with the founders of projects funded by the organization and offering mentorship.

On September 24, Trust Wallet, a non-custodial wallet owned by the Binance founder, announced that it plans to launch futures trading in partnership with Aster.

Despite the excitement and strong metrics, Aster faced accusations of manipulation. On September 20, an on-chain analyst under the nickname tracer reported that Binance was selling millions of ASTER tokens in real-time.

“Massive manipulation,” he stated.

According to crypto trader known as cyclop, 96% of ASTER’s supply is controlled by six wallets linked to a single entity.

“There’s no value: the daily trading volume of the token paired with Bitcoin is only $500,000, and 50% of it is just phantom liquidity. Meanwhile, the market capitalization is counted in billions,” he noted.

Cyclop warned that the price of ASTER is dictated by insiders who control nearly the entire issuance of the coin.

However, many market experts took a more measured stance. Investor under the pseudonym ionicXBT believes that support from CZ and concentration of coin supply on Binance are what make the project promising.

A similar view is echoed by the expert known as Whale.Guru, who described ASTER as undervalued.

CEO of the Telegram project Blum, Gleb Kostarev stated that Aster’s story is not one of manipulation but rather an example of how success in the crypto industry truly works.

“It’s not about the name or even the product, but rather the final intentions of those making decisions. Examples like Broccoli, Mubarak, and TST are living proof (they didn’t break the market),” he explained.

The expert interpreted the concentration and backing from Binance as predictable and significant factors in the platform’s popularity.

“In crypto, capital and the right time to market matter. The main marketing here is the token itself. If it’s rising, it creates positivity and loyalty, but if it’s falling, the product gets buried, no matter how great it is,” Kostarev concluded.

It’s worth noting that BNB Chain validators proposed reducing gas fees from 0.1 to 0.05 Gwei and shortening the block interval from 750 to 450 ms amid competition with Base and Solana.