The perpetual DEX market is becoming increasingly competitive with the rise of two major tokens: ASTER and HYPE. Both have captured the attention of global traders through distinct approaches and feature sets. ASTER stands out with its hidden order execution and multi-chain support, while HYPE excels in deep liquidity, a deflationary model, and integration with the USDC ecosystem. Their competition reflects the dynamic evolution of decentralized perpetual trading.
Price Surge and Trading Volume
ASTER has seen a remarkable price surge, reportedly increasing by nearly 1664% in one week, almost hitting its all-time high around USD 2.
This performance is also reflected in its daily trading volume. On September 22, 2025, ASTER recorded a 24-hour trading volume of USD 1.99 billion, surpassing Hyperliquid (HYPE), which logged around USD 593 million on the same day.
Despite this, HYPE has continued to show steady growth, with a monthly increase of around 39%. On a weekly and monthly scale, Hyperliquid still maintains a larger market share, especially in cumulative volume and active user base.
Feature Comparison
Ecosystem Support and Reputation
ASTER has recently gained major attention, especially from Binance founder Changpeng Zhao (CZ), who publicly promoted ASTER’s strengths, such as its hidden orders feature. This endorsement significantly boosted ASTER’s visibility and adoption.
Beyond that, ASTER is supported by various multi-chain ecosystems and DeFi projects, and has shown notable growth in key metrics like Total Value Locked (TVL) and the number of active wallets. Community enthusiasm and whale activity have further reinforced its rise as a promising new player.
On the other hand, Hyperliquid (HYPE) has long been established as a pioneer in on-chain perpetual DEXs. With a strong reputation among professional traders, HYPE has built an ecosystem around high trading volume, speed, and precision. While less reliant on influencer endorsements, HYPE’s strength lies in its robust infrastructure and loyal community.
Market Perspective
The battle between ASTER and HYPE is no longer about who arrived first—it's about who can innovate faster and deliver better user experiences. ASTER appeals to today’s market demands with features like hidden orders, high leverage, multi-chain support, and dual-mode accessibility (Simple and Pro).
ASTER even briefly surpassed HYPE in daily trading volume. However, on a broader timescale, Hyperliquid still leads in total trading volume and active user count.
It's important to note that the perpetual DEX space is highly sensitive to volatility and whale behavior. ASTER's rapid price surge, for example, was followed by some profit-taking—mirroring what happened when Arthur Hayes sold his entire 96,628 $HYPE tokens (worth ~$5.1 million) just a month after buying, potentially influencing market sentiment.
Future Outlook
ASTER and HYPE take different paths, yet both hold long-term potential. Backed by Binance, ASTER offers flexible features and could expand its reach through a multi-chain approach.
Still, ASTER’s future success will depend on its security, consistent liquidity, and healthy token distribution. Any concentration of assets in a few wallets could pose risks unless addressed with strong transparency and governance.
Meanwhile, HYPE has proven itself as a stable and efficient protocol with a seasoned community. To stay ahead, it must continue to evolve—possibly by integrating features like private orders or improving the retail trading experience.
With growing regulatory scrutiny and emerging competitors, both projects need to remain adaptive. In an industry that changes rapidly, those who balance innovation, compliance, and user experience will emerge stronger.
Conclusion
In today’s evolving perpetual DEX landscape, ASTER and HYPE stand out as two major forces, each with a distinct strategy. ASTER leads with innovation and flexibility, while HYPE offers technical depth and proven reliability—making both tokens key players to watch in the DeFi space.
The good news? Both ASTER and HYPE are now available on Mobee—a simple, secure, and user-friendly platform for crypto investment. Download the Mobee app today on the App Store or Play Store and start trading!
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