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Aster Tops DeFi Fees Chart, Outpacing Hyperliquid and Other Perp DEXs

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Decentralized perpetuals trade Aster has surged to the highest of DefiLlama’s protocol payment rankings, producing over $25 million in charges previously 24 hours.

Key Takeaways:

  • Aster led all DeFi protocols with over $25 million in every day charges, far surpassing rivals like Hyperliquid.
  • Despite decrease buying and selling quantity, Aster is gaining traction with its distinctive “hidden orders” characteristic and latest 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 opponents like Hyperliquid, which introduced in $3.17 million over the identical interval.

Despite rating fifth in charges, Hyperliquid outpaces Aster in every day quantity.

Hyperliquid Triples Aster in Spot Volume, DefiLlama Data Shows

DefiLlama data shows Hyperliquid logged $477.3 million in spot buying and selling quantity, whereas Aster recorded $199.96 million, putting it thirteenth general.

Notably, Aster doesn’t but seem on the aggregator’s every 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 help, with an preliminary deal with 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 recent 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 undertaking on X, confirming that YZi Labs holds a minority stake.

“Few perceive this,” Zhao posted. “Aster competes with Binance, however helps BNB.”

Aster’s native token, ASTER, is at present buying and selling at $1.89, down 1.76% over the previous 24 hours.

The token now instructions a totally diluted valuation of $15.1 billion, a powerful climb from its $560 million valuation at launch.

While quantity and visibility metrics might range, Aster’s spike in protocol charges positions it as a rising power within the on-chain derivatives house.

Aster Reimburses Traders After XPL Price Glitch Triggers Liquidations

On Friday, Aster reimbursed users in USDT after a sudden price spike within the XPL perpetual contract triggered compelled liquidations.

The anomaly, which occurred in the course of the transition from pre-launch to reside buying and selling, noticed the worth of XPL briefly surge to over $4, properly above its $1.30 common on different platforms.

The trade responded shortly, finishing the primary spherical of reimbursements inside hours and compensating affected merchants for liquidation and buying and selling charges.

While the precise trigger stays unconfirmed, early hypothesis factors to a misconfigured index worth or lacking sync with reside 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.

Despite the setback, Aster continues to achieve momentum, not too long ago surpassing Hyperliquid in every day perpetuals quantity. Its distinctive “hidden orders” characteristic has additionally helped the platform stand out in a aggressive market.

The put up Aster Tops DeFi Fees Chart, Outpacing Hyperliquid and Other Perp DEXs appeared first on Cryptonews.

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