Did a DEX just beat Tether on daily revenue? Inside Aster’s $185B week
Aster, the decentralized perpetuals alternate with backing from Binance founder Changpeng Zhao, generated extra income than Tether within the final 24 hours.
According to DeFiLlama data, Aster ranked as the very best revenue-generating protocol previously 24 hours, surpassing Tether and Circle, the 2 main stablecoin issuers.
Over the final week, the alternate recorded roughly $93.5 million in payment income, which is second solely to Tether’s $154.5 million. By comparability, Hyperliquid, lengthy considered the dominant perpetuals alternate, reported just $26.1 million in the identical interval.
The income surge aligns with hovering buying and selling exercise. Aster processed about $185 billion in perpetuals trading volume over the previous week, greater than doubling Hyperliquid’s $80.5 billion.
This sharp improve displays how shortly merchants are shifting liquidity towards the brand new entrant, drawn by each its efficiency and its positioning as a main decentralized alternate.
Considering this, Zhao argued that Aster ought to be seen as competing immediately with Binance somewhat than Hyperliquid.
While that positioning casts Aster as a direct rival to the centralized alternate, Zhao added that its success might nonetheless profit the BNB ecosystem.
Zhao’s assertion about Aster is no surprise, contemplating he’s an advisor to the undertaking and his household workplace, YZi Labs, is an investor in it. Additionally, Aster is relying on the BNB Chain infrastructure for its operations.
In addition, the Binance founder has confirmed that a number of the centralized alternate’s ex-workers are a part of the Aster workforce.
ASTER token buyback?
Alongside its buying and selling surge, hypothesis about a potential token buyback has begun circulating throughout X and Discord.
Screenshots shared by a number of influencers recommend the workforce is contemplating repurchasing tokens from the open market, a transfer that might additional energize bullish sentiment.
Token buybacks, already a rising development within the crypto area, mirror conventional company share repurchase packages. By shopping for again tokens, protocols sign confidence of their long-term worth whereas creating shortage which will drive value appreciation.
For Aster, such a technique would reinforce its latest rally, which has already seen its token soar greater than 2,000% previously month.
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